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Stay tuned..........
By virtue of owning QTN, TMM has access to those rights, for the purpose of BK.
That HARDLY proves "Toxic" financing. Pretty standard stuff to have preferred shares convertable 1:10 for common.
Do the math, par value of the preferred shares was $20,000.00..........I DON'T know what the common was at that time, but the math is easy, if you have all the numbers.
Preferential treatment in liquidation ONLY means that the prefered is in line before the common, as long as it was NOT converted.
As for what matured in 2005, that was ANOTHER class of preferred, made clear in the first link, but Fisty left that out of her paste. THAT class of Preferred is non-voting, non-convertabel Five (5) year callable 8.25% cumulative interest at no par. In other words, similar to a bond. 8.25% interest for five years, unless the debt was paid off earlier.
Per the notes of link #2, ... 267,538 of 1,000,000 authorised (8.25% preferred)were issued.
I think the POINT was that IF...IF.... they had that kind of deal with VCs, why would he have HONORED it and cut them a check? He rarely paid anyone ELSE.
Fan took control by virtue of aquiring Olsen's 53% of the stock, no vote needed for that.
It might be of interest to recall that Fan is the LARGEST shareholder. That makes me hopeful that what is good for Lloyd Fan, is good for all shareholders. We can only wait to find out how wrong I am on this one.
ONE asset is the rights to broadcast "Short Bus", another is an intrest in syndication fees for rebroadcast of several shows, as Jack Jett told us about his show. There are just 2 assets that were not liquidated. I'm betting that if they were liquidated, Jack would know who owned 50% of the rights to his show.
Red, you must know it hurts me to agreee with fisty, but she is right about one thing, "there is no TMM BK filing"... at least not a court approved one. HOWEVER, the reason is that the judge told them they had to clean up the books to show where some of the stock was, among other things.
However, If they COULD do that they could quailfy.......they do not, at this point. Again, HOWEVER, one DOES file, not just declare, to a court, and must have court approval for protection under bankruptcy laws.
That may be splitting hairs, but it is accurate
NOW I get it..........
I'd like to put that Homophobe in a can.........an air-tight one. MAYBE with a viewing window...............
AS IF there is ever too much about him for his liking.
Can you send me a copy of the program when its printed.........I can't tell all the players without one.
WHAT a great deal, I know my neighbor Dave would sell one of his kids to do that.........and he LIKES his kids.....
Thank you for answering, Fisty.
NICE........Maybe Murtha can stop this mess...or at LEAST slow Bush down.
Because Fisty is Banned from I-Hub for repeated TOS violations.
I'll ask a 3rd time, Fisty, did they use QBID money for QTN or NOT?
Did they use QBID money for QTN or not? Please decide and let us know.
Enjoy.........:) Just file that main breaker idea in the back of your head....It'll come in handy yet.
(I thought I had her pegged)
She'd be out of there before the blower on the furnace stopped, once all the lights go out.....bet she still has a bag packed..........:)
I wasn't kidding...........It could work.
Congrats...........tho you MAY change your mind before long........
Pull the main breaker and get her out AGAIN.......GIRL, you gotta think on your feet.
No way out, no way out........
LOL...........Looks like........
I heard 665 is behind Nancy's left ear...............close enough for me........
Well, THAT doesn't sound like Fisty, now DOES it?
And yet you say that Olsen drained TMM to finance QTN. Here and now, will you decide which it is?
In fairness, Fisty, I have re-thought ignoring you. You are right that shareholders have every right to be disgruntled. ONE thing they were lied to about was that "financing through 2008". HAD that been true, QTN might still be on the air, investors would have a chance to earn money and employees would have ben paid, along with creditors. FYI, Olsen diluted the stock by issuing treasury shares. Olsen's 53% was transfered to Lloyd Fan when he took over.
TMM was paying QTN's bills because TMM owned QTN.
OH, NO!!!!!!!..where this lead???????? and WHERE will it all END????? I see nothing but heartache coming from this kind of thing.........Jeff, I'm begging you......
NOW, now.....WHO here would accuse you of that???????
The worse since I've been on there......I just noticed, that post number ended in 666......
Oh, come on now, you're just talking like that because you want to make more friends here........:)
ONCE again, my timing is perfect, everyone is gone. Later guys, dinner's here.
JUST like Mama..........
HELP...........I can't post 2 things I think are side-splitting.......will one of who knows how E-Mail me at gbwilson@aol.com so that I can forward them to YOU to post?
OH, BABY.....sympathy with a back hand........
:)....You're tired........
Thank you.........I have a couple things to post, if I am able.........
Are YOU willing to be jumped from behind by this group?
It seems that anything goes on RB now.....at least the QBID board.
Good grief, no..............poor baby........it's a WONDER he has the energy to type after the last few days, much LESS confront the fact that his mother is stalking him on-line.....