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Note the large spread, Bid 0.008 X Ask 0.0125. Looks like they'll dump as much as they can @ .008 and either rip an uptick @ .0125 to end the day green, or, as is usually the case, sell some at a higher bid to give the illusion of buying. Either way, the liquidation of this stock continues.
They also said it CNBC
OH! OH! Don't mention "CNBC" on this board, they are the antichrist! ;0)
Paulson wants to break up these entities so the stock could go away, never mind the dividends?
I was flamed mercilessly for posting just that, but that looks to be the case.
Dividends have been suspended - but my guess is that once the conservatorship is lifted, dividends will be restored.
Dividends have been suspended on the common shares, not the preferred. The common shares have no dividends and no voting rights. The common shares are only worth what you can trade them for.
"debt are paid-off".
snappo, you're confused. Let me explain. The debt is sold to VC's for a ROI. The buyers of the debt offerings are paid off before the common see a penny in liquidation. The more debt the company sells, the less of a chance the common will have any ROI in liquidation. Hope that helps
Also, instead of a coke or pepsi that is used and thrown away and has no value, instead we have houses that are still there..... an asset that the most tangible and prone to improvement.
It isn't the "house" that's the problem. It was the bad loans that wound up in FRE's portfolio's as toxic assets. It was a ponzi scheme. Lenders lent money they didn't have knowing that FRE & Fannie would acquire the loans from them for a profit. When the loans went south, the Fed bailed-out the lenders so they could actually have some money to lend. To date, they are not lending that money and the Fed is forced to buy up FRE's debt. This is at the expense of the FRE common shareholders and, unfortunately, the US taxpayer. I remember everyone calling Paulson FRE's white knight. Though the common & taxpayers got skrewed, Paulson and his fat cat banker pals made out great.
Missed all your negativity!!
Just keeping it real. A company sells debt to remain solvent and finance operations. To buy FRE's toxic debt, there must be huge return in exchange for the huge risk. This is at the expense of the common shareholder. And, if the Fed is buying the toxic debt, while they function as conservator, what does that tell you?
Freddie Mac mortgage bonds accounted for $6.9 billion of the
purchases, the New York Fed said on its Website. The Fed also bought $2.9 billion of Fannie Mae's MBS and $450 million in Ginnie Mae securities.
Paras, and exactly what is the Fed's ROI? And at what expense to the common shareholder?
Looks like the Fed is privatizing FRE.
Overseas investors buy Fannie, Freddie debt
Oh brother, just what this toxic turd needs, more debt offerings.
"It remains to be seen whether foreign official holdings have actually stabilized, or whether this is just a brief lull in the long-term liquidation that began last summer,"
I know, I know, there was no "liquidation"... LMFAO! The "lull" is no more than making VC's an offer they can't refuse - ALL AT THE EXPENSE OF THE COMMON SHAREHOLDER, who is LAST IN LINE after the VC's who buy said debt are paid-off.
needdiamonds, and with all respect, you appear to be suggesting QBID/TMM had real money. TMM/QBID sold stock. The shares were issued to insiders. It is not illegal to issue shares. It is not illegal to sell shares. I posted over & over again that QBID was a toxic LBO deal and the liquidation of stock was the private investors selling for ROI. They even disclosed the toxic financing. Olsen disclosed he "eliminated" his 53% of the QBID o/s by converting it to preferred. Therefore, it appears that Olsen joined the VC's in liquidating the QBID treasury after the VC's took control of QBID. You do recall the numerous a/s increases, don't you?
One might want to explore how Fan got 53% of the QBID o/s if Olsen's 53% was "eliminated", but Fan failed to appear for the labor board case, so I'd expect finding a cause of action against Fan would be expensive and a waste of time. These guys are pros. Everyone learned the hard way, unfortunately.
The bank has all records of who's name was on the checks written.
How are writing checks "illegal"? There has to be a cause of action. You are suggesting there was a fraud. Fine, then the labor board has to file a new cause of action against these new defendants that satisfies the prongs of a fraud count and support its' claim with either written documents or affidavits. A "check" on its own only documents a transfer of funds. There has to be fraud to make that transfer illegal. This is why criminals have great lawyers. Crime pays. Happy New Year!
BUT the BANK keeps records. These Records can be looked at with any court order. But you know all this. Come on you are not this dense. Even you know all this.
I know the law. That is what I know. Sure, the labor board could've used subpoena power for a fishing expedition of bank records. I also know discovery is over in the action and judgments ruled. Therefore, if the labor board wants to go after others for money, they have to file a new cause of action, defer to res judicata and collateral estoppel and name their new defendants in this new action. And, they have to support their claims with written documents and/or affidavits. I won't call you "dense" like you called me, but I suggest you learn a little bit how the law works and how "court orders" are ruled on.
BANK TRANSFERS and Checks do not lie. They show a trail. Unless he made them out to cash?
Again, Fan PR'd that QBID didn't keep records or supporting documents. The labor board could subpoena TMM's banking records, but all QBID/TMM did was issue and sell stock. The stock was toxic preferred convertible and they disclosed as much. Olsen knew what he was doing. The trail ended where it ended.
"Those names are not part of the labor board's lawsuit" The question is why? Stupidity? Or just overlooked ?
Fan PR'd QBID didn't keep records or supporting documents.
Oh, you also forget that Fan PR'd he discovered that QBID, TMM, did not keep records or supporting documents. So, have fun following the money.
BUt any money PAID out by QBID can be traced no matter what name is used.
Those names are not part of the labor board's lawsuit. Again, if there was collective fraud, the legal remedy is a constructive trust. That requires the labor board to file its new cause of action and name those other names. That's what I know.
This says it all...
Volume 91,259
Day's Range 0.01 - 0.01
all at .01. So, who makes $ when bid & ask are the same? Is that really a "trade"?
Who riggs it mmakers, why not just run it into the ground.
Pink trades are negotiated. It appears someone is supporting this POS. Since the insiders own almost all the shares and can issue as many more as the desire, it's not very difficult, IMHO, who is supporting the share price. No doubt we'll see another R/S and a new scam promoted sometime down the road.
How can cppd sell shares all day long @0.01 and price stay there.
Rigged. When the shareprice gets too deflated they raise the bid for like a 100 share whack. It gives the illusion of a buy. Smoke & mirrors.
No the money can be traced from Olsen to the entity who bought the house.
We keep going around in circles. Per the Firetone lawsuit documents, Olsen has numerous aliases and social security numbers. Money can't be "traced" to Olsen that was never in his real name. It can be traced to QTN, which was financed by selling QBID, TMM, shares. Gouveia, TMM's CFO, tried a "QTN ASSET RECOVERY PLAN" to go after the $. He failed. What I tried explaining to you before was that Firestone got injunctive relief to prevent Gouveia from going after the $. Firestone won judgments against QTN & QBID/TMM. The money, if any exists, appears to be Firestone's, not the labor boards'.
the .01's were at the bid. Can't see them dumping at .01 for very long w/o being forced to rip some upticks. this POS was .005 on some relatively light dumping. Maybe another bogus PR about another bogus production will reel in a few more sukkers.
again it can be traced
Yes, to the person, entity or alias that owns it, not Olsen. Olsen, at best, would be a renter or guest.
Nothing at all? No lean on the house? Whats the hold up?
needdiamonds, you don't really believe that "house", or ANYTHING, is in Olsen's real name, do you?
Pinks are not accurate quotes. Ask any broker. Therefore what your seeing is not what your seeing all the time.
The pinks are all negotiated trades.
Point is unless you have level 3 You have no clue who is selling or buying
There is a best bid & a best ask. The MM on best ask cannot drop the ask per NASD Rule 2320. The MM on best bid can raise the bid though. This gives the illusion of buying. Looks like that is what is going on here IMHO.
Nope the Bid is $.01 LQQK again pls
I see that, hence my observation that trading here is rigged. The bid was .005 & ask .015 for days, after trading. During trading hours the spread was .008/bid-.009/ask. It appears they were whacking a raised bid to give the illusion there was buying on the .009 ask. Now they've raised it up a notch. No doubt they'll start dumping big again when a penny bid can endure some whack-age. ;0)
IMO they were sells, who buys a 100 shares ($1)
Certainly appears they're rigging the shareprice by whacking a raised bid. Gives the illusion of buying.
In case you been busy. Back to penny land. I wished they had a real product
All pink trades are negotiations. Trading here appears rigged. The spread is .005/bid X .015/ask after trading. The shareprice goes up on whacking a raised bid during trading hours. This gives the illusion of buying when it's actually selling. They seem to be attempting to support the shareprice to get more buyers.
BTW up on the PPS for new years
Appears that the price has been rigged by raising the bid to give the illusion of upticking. Currently, bid 0.005 X
ask 0.015. If the sells were kosher they'd have been at .005. If you own all the stock & have a printing press to print more, what do you care?
needdiamonds, if you say so. Happy New Year. ;0)
Look at CMKX they followed the money with 30 different people and companys.
Olsen was involved in CMKX as well. Has anyone "followed" any "money" to HIM?
again it is possible to trace where the money originated and went too. But you know that
That's a new cause of action then. The labor board would have to define the alias or entity and name him/her/them in a complaint for constructive fraud. The legal remedy would be a constructive trust. Seeing no new lawsuit was filed, my guess is, if any money was transferred, who it was transferred to remains unknown.
I was never talking about that. Please stay on subject
You confused the court cases. I corrected you.
Happy New Year!
As far as I know you can't do jail time for a civil matter.
Right. Frank could do jail time for contempt of court. But, obviously he appeared, produced discovery documents and a judgment was rendered. I'm guessing when the labor board filed their citation for disclosure of assets that Frankie did so happily, knowing IF he had any of the spoils, it was in another of his aliases' accounts.
The judge should of done something by now to force frank. like jail.
Needdiamonds, post-judgment the labor board would file a citation for discovery of assets. If Frank has no assets in his name, there is nothing for him to disclose and nothing to seize. Though the labor board got a judgment against Olsen, I doubt very much anything is in his real name. He is a life-long scammer and knows how to work the system.
Its a civil matter.
Yeah, the Firestone one. needdiamonds is the one a bit confused. It is confusing. I grant you that. The Obion scammers were attemptng to recover and liquidate QTN assets into cash when said assets had been awarded to Firestone.
no your confused the Judge told Frank to pay the ex-ployees and their lawyers and frank said he can't and Judge says you will have too.
Different court. QTN's assets were to be liquidated to satisfy the Firestone judgment. Gouveia and the Obion Group scammers were attempting to recover QTN's assets to line their own pockets with. The Court gave Firestone injunctive relief and the QTN ASSET RECOVERY PLAN was nipped in the bud.
Our Russian sludge Oil joint venture is specifically a waste oil recovery program, recovering and refining it to 96.4% pipeline quality crude oil.
Are they still pumping their "partnership" with Russian Oil giant, Rosneft? LMFAO! Same pig, new blanket.
The court pulled the plug on Gouevia & the Obion Group's "QTN ASSET RECOVERY PLAN", remember? Seems the only "recovery" the plan would benefit would've been the Obion Group's, aka Fan. Gouveia and Weenie Boy Frankie Love. The Obion Group went belly-up after that. Gouveia & Weenie Boy orchestrated the JMCP Russian Oil Sludge scam. Fan made way for Pappy and cashed-out on the bogus Cinemax merger scam and the savior of the ex-employees, Other Frank Hagan, joined forces with the Cinemax faction that seemingly never had any intent on doing the QTN employees right. In fact it appears in the Obion phase of the scam that they were just using sympathy for the ex-employees to recover TMM debt from QTN to pay-off Fan & co.