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Merry Christmas, from the fine folks @ Circa!
Last Price (USD) $ 0.005
Change; -0.003 (-37.50%)
Bid 0.005
Ask 0.009
IS Frank Olsen Having a Merry Christmas?
I betcha Fan is. ;0)
I heard he was in the same house with same name.
Which suggests the house isn't in his name. Par for the course.
Where is Frank Olsen?
My guess is he's busy plotting other scams and living his life under the cover of one of his other aliases.
bid is now .008 and the ask is subpenny as well. Unless they can get out a PR that will con a new pack of marks, this turd is swirling round the toliet bowel in mid-flush.
By the way, did Christian DeFrank disappear after the PR pumping him? Good PR for a new Circa pre-production promo... "WHERE IS CHRISTIAN?"
this week they tell the world dont worry about the billions Madoff scammed there is insurence that pays out when investors are scammed by publicly traded companies and firms.
There's no insurance to protect his victims. It wasn't a "firm" that ripped them off. HE ripped them off. Anytime one gets a statement in the broker's name, not in the firm's name, you can be sure you're being scammed. His victims lost their life's savings and fortunes and they let him out of jail even though he couldn't post bail. Amazing.
“We trusted that guy,” said John Sulja Sr., 66, who founded the lumberyard more than 20 years ago and has a home on the property. His son Steve, who was recruited as CEO of the Nevada Sulja company, won’t talk about the case. He’s also facing OSC charges."
Oh yeah, I was booted as well for posting that the "Nevada Sulja company" was a different company than the lumberyard. ;0)
I'd give anything to hear Pv's explanation for the financials or the 'cement contracts'.
In retrospect, it is sadly funny. I was booted from this thread by the mods for posting that the "captured shortseller capital" was no more than the insiders selling themselves shares over the # authorized and for questioning why Emaar, a Dubai REALTOR, would have a CONCRETE deal with the Ontario lumberyard. Last time I heard, realtors have no need of concrete. I guess if Dubai realtors need concrete, they go to little Ontario lumberyards to get it. ;0)
by the way, we are officially subpenny today. ;0)
$ 0.009
I stand by the fact the SEC could trace where the money went and to WHOM if they wanted to.
That requires a cause of action, constructive fraud. A remedy for constructive fraud is a constructive trust, ie., following the money. If any ill-gotten gains are in an alias' account somewhere, that alias has to be named in the fraud. The judgment was against Frankie. No alias was named. The SEC would have to file a cause of action and name the alias. Don't hold your breath.
more assets will be seized and more charges laid on PV and others over the coming months.
Yes. I see nothing but red skies at night. ;0)
by the way, the bid was .005. Best bid was raised to .01. Looks like there is a concerted effort to support this turd at .01.
Yes, offshore. Secondly, unless there is a constructive trust the court is not going to follow the money. A judgment against Frankie means nothing if the $ is in an account of one of his aliases, offshore or not. The judgment was against Olsen, not an alter ego. That would require a new cause of action, constructive fraud. Fan didn't even bother to appear. Good luck with that.
I was flamed and ridiculed for years for posting QBID was a toxic financed LBO venture. Like I posted, the VC's walked away un-named after they handed control over to Fan. Fan walked away with 53% of the o/s after the Cinemax scam. IMHO, Olsen may have pizzed away TMM funds loaned to QTN, and investors and shareholders money, but I doubt he has much money tucked away somewhere. He spent it like he could always get more. I don't think his thoughts were on the future. His future IMHO is plotting new scams and hoodwinking new investors.
Don't lose hope all. Didn't a certain poster tell us that he had a family member at PW who confirmed the a/f's? ;0)
Again DOES not Matter if it can be traced back to him
It does. If the money is in another name, with a different SSN, offshore outside US jurisdiction, its gone. Like I said, these guys appear to be pros at this.
He has a house and car ect
"He"? Read the Firestone court docs. "He" has multiple aliases and social security numbers. Do you really think anything is in his real name?
doesn't matter if in another name if you can show a trail of money from Frank or Qbid
Again, the legal remedy is a constructive trust. If Frankie has the money offshore in an alias account, consider the money gone.
Same can be done to Fat Frank if he hid the money. You make it sound like if he hid it. It is gone. Not true
You're describing constructive fraud. A constructive trust is a remedy the law offers, but how can it be utilised if the $ was sent offshore to an account in the nane & SSN of a person who doesn't really exist? Like I said, these guys know what they're doing.
were any of his assests (house, etc.) ever seized???? Or did he just jump a plane to the Bahamas with his $$? I've not heard of any ex-employee/stage hand, etc..that ever saw a dime.
My guess is, as the Firestone lawsuit showed, Frankie has numerous ID's and SSN's and my guess is that no $ or assets are in his real name. His Palm Springs home was in another name, if I remember right, as well. These guys know what they're doing.
Spent months in jail for refusal to pay
That's a different story. He had the $. They filed a motion for a rule to show cause why he shouldn't be held in contempt. Succeeding, he was found to be in contempt and a body attachment was issued with a warrant for his arrest. He was imprisioned for being in contempt, which can be criminal, not for refusal to pay, which is civil. The $ is litigated in the prove-up phase of the case post-judgment after a citiation of assets is filed for by the plaintiff.
My point is that the Judge said pay or jail.
It's a civil matter. There is a prove-up hearing. If Frank has all his $/assets in other names, there is nothing to be recovered. To go to Jail, Frank would have to be in contempt. That requires the labor board to file the required motions to show cause, body attachment, etc., etc..
My question is about frank not fAN
It was civil, not criminal court. If Frank has no assets in his own name and SSN, there is nothing to get from him. That was my point. Frank's life appears to have been designed for precisely these kinds of situations.
Fan failed to appear, QTN failed to appear. They defaulted. Olsen showed and a judgment was handed down against him as well. Olsen has multiple I.D's & SSN's as revealed in the Firestone action. Like Olsen gives a heck. The QTN employees, like the QBID shareholders who believed they owned shares of QTN, were skrewed.
So therefore the Goldmans pushed OJ into what happened and now he is jail for rest of his life
So, who pushed you into buying QBID shares and what was their fate? Last I heard Other Frank Hagan got stock awards. The "employees" that he claimed he was here to save got skrewed like the QBID shareholders. Sweet justice, huh?
true I wonder if the ex- employees ever got their money?
QTN was not QBID. QBID was TMM. The scam was conning the public that they were buying shares of QTN when buying shares of QBID. QTN owed TMM/QBID $31 million. The QBID market cap was worth, per Gouveia, "$31.6 million". Fan and their Obion Group venture announced a "QTN ASSET RECOVERY PLAN" to get that $31 million before the QTN employees could. That attempt failed. Then they did the 50k:1 R/S, renamed TMM as "Cinemax", orchestrated a stock promotion around a bogus merger and then Fan dumped his 53% and made his exit. The "employees", like QBID shareholders, got skrewed.
the company has 3 employees
yeah, but don't forget those "consultants". Who do you think are selling share at .01? ;0)
If you "call WA" you'll learn there was never a "merger", just 2 name changes. If you call the Ontario Ministry they will tell you that Cinemax never incorporated in Ontario. If you read the amended articles in WA, you'll learn that the serial preferred can be issued with whatever multiples/preferences the insiders desire, whenever they desire, w/o any shareholder approval. It's basically the precursor to "gagging the TA". Ask yourself, as shadow has, who is selling at 1 cent?
Right, per Article 4, as filed in WA, they gave themselves a printing press. They can issue all the serial preferred convertible they desire w/o any shareholder vote. They seem to be earnestly attempting to support it @ a penny. Interesting how long the selling insanity will be curtailed with Xmas coming up fast. ;0)
The idea of a pump is to keep price high as you sell, correct?
They can issue all the stock they desire, per Article IV. They can support the market by ripping upticks with some of the proceeds from sales of stock - trade-out agreements. All pinky trades are negotiated anyway. Looks like NITE is the MM helping them prop this booger up. Supporting it to lure in a few more rookies IMHO.
One thing is clear, someone is supporting this stock and appears to earnestly be working at keeping it at least a penny. Since they own almost all the stock & can issue shares on a whim, they can do a "QBID" and milk this cow dry.
Did any of the stock get converted into what I assume is this new venture or is it all dead?
50K:1 R/S into a company that can't cough-up its' incorporation papers. WA SoS claims TMM just did a couple of name changes. Smoke & mirrors. Stock has been liquidated from $5/shares to .01 since the R/S. Looks like an effort being made to keep it at a penny or higher. That won't last long though, IMHO. ;0)
BUT fisty you do not have to seem happy about it. Some good people lost on this one.
The ONLY thing I'm "happy" about is that those who've been using every trick in the book to pump this toxic turd have been exposed and that that will hopefully help prevent more carnage in their wake.
tick away from subpenny. Look for a BS PR that they could sell into.
never said paulson is buying up bad debt, stop saying things i did not say. you seem to be very good at that.
The "you" was rhetorical. I was referring to those frontrunning this POS and dumping before their proclaimed "target price".
the treasury has an agenda against FRE
Actually, no. They're doing their best to salvage FRE. That requires the paying-off the toxic debt and honoring the purchase agreement with the senior preferred. The common are the bath water being tossed with the baby. Certain frontrunners posted that the purchase agreement was bullish and that the l/t was "boilerplate". One has to understand if a company exists because of toxic debt offerings and sales of its toxic debt, that debt, and those debt holders have to paid-off. The terms for their ROI take preference over the common. That was TOTALLY dismissed by the frontrunners. Tragic.
However, that lethal danger has never been because of any of the idiotic things brute_force has wrongfully stated.
LMFAO! FRE is in "lethal danger" because of EVERYTHING I've posted. Geeze Louise! I told you to DD what was behind the massive liquidation from around $70/share. You told me it was the evil work of "CNBC" and brokers who didn't know better. PULEEZE! Just save it, will ya?
Pure ignorance
Exactly!
(1) Nobody said the financing terms were boilerplate. We said the liquidation terms were because they are identical for all companies.
PULEEZE! I cut & pasted the toxic financing terms directly from the purchase agreement, a purchase agreement that you touted as bullish in the pump & dump that was orchestrated while shorty was in the penalty box. And PULEEZE, not all liquidation terms are "boilerplate". This toxic heap of dung has been kept alive by toxic debt offerings and sales of the toxic debt. Debt you denied.
(2) Being "last in line" is true for common of ALL companies. That's a stupid reason to forecast a price of zero regardless of whether it happens or not.
LMFAO! It wasn't just me trying to explain that to you. You flamed everyone who brought it up to you. You told us that we were all CNBC lemmings! And, it was one of the most obvious reasons for "forcasting" a price to zero. ITS TOXIC. AND NOTHING WILL BE LEFT AFTER THE BONDHOLDERS, PREFERRED AND CREDITORS GET THEIR ROI. And... I pointed out to you that the company could issue as much common as the want to pay-off the debt to the preferred holders. You flamed me and blew it off as "boilerplate" as well. IMHO, You really need to admit you were 100% wrong about this toxic turd and to apologize to all those who were left holding for your "target prices" and fell for the horriblly slanted DD in the IBOX.
Thats how you know they will not make this go to 0 !
Actually, that's how we know it WILL "go to 0". Common are last in line after the creditors, bondholders and preferred holders. They issued and sold debt to keep going. It was dismissed here as "boilerplate" financing terms. Don't say I didn't warn you.
I fully believe that what he was saying before was b.s. and what he says now is still b.s....but in the end it may turn out much like he said.
No offense, but that's why you're stuck holding this POS. The frontrunners fed you lots of BS to pump & dump while shorty was in the penalty box. Shorty is back. Reality has set in. The frontrunners bailed before their target prices and those who believed them are left holding the bag. Flame me if it makes you feel better. I was right.
You're such a fool. I love it, lol.
You can say that again! LMFAO!
Why I Think FRE Is A Good Long Term Investment That could Fetch $12 - $14/share:
--FRE has had the equivalent of a 5 for 1 stock split on a fully diluted basis after factoring in the Tresury warrants.
--FRE trades at $12 - $14 during more typical housing market conditions, after factoring int the Treasury warrants.
--Any stock price under $1 represents less than 10% of what FRE typically trades for under normal housing conditions.
--FRE has positive equity and all operations are intact and being run with the goal of returning the company back to normal operating conditions and health.
--The comon stock is still alive and well, will NOT be cancelled, and the dividends have been only temporarily halted to conserve cash.
--US Treasury is now a co-signer to FRE with a virtually unlimited line of credit to assure continued solvency and recovery.
--If FRE can return to operating even a fraction as well as they used to, there is massive upside for the stock price.
--The short position in FRE is massive.
--S&P is the first to recongize real value n the common of FRE/FNM, doubling their price target on FNM.
--Hank Paulson and even James Lockhart, Federal Housing Finance Agency, director, predicts FRE to be profitable in 2009.