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Sorry, Osger...but then again...
...maybe it's not!
This damn thing is a total crap shoot at this point; does ANYONE really KNOW if something significant is even going on right now?! And, I mean ANYONE knowing ANYTHING of substance that can be substantiated. I doubt it. My guess is that the great Barry Raymont is taking the months of November and December off as a reward for all his wonderful work and diligence on DMXP over the past few months. Hehehe!!!
Pinkies...can't trust any of 'em!
Bulls-eye!!!(eom)
Frank said (in a PR on 9/21/2005)...
"The additional assets of Triangle Multi-Media will also be disclosed in the audit, and this audit will ultimately bring us to reporting status. Please allow another 60 days for this to be completed. Due to government agency reporting, we cannot pinpoint or control the exact date for completion of the audit and fully reporting status. I understand this information has been a long time coming and well deserved for the shareholders. This audit will show that the financial side of Triangle Multi-Media is just as structured as the creative side of Triangle Multi-Media."
Well, 60 days from 9/21 is 11/20...so, what's up?! Has anyone seen an audit?! No? Don't think so! The "pinpointing of the exact date of an audit" has NOTHING to do with the governement. A financial audit is just that, pure and simple. Forget the "fully reporting" BS!
Oh, and by the way, the government, in all it's infinite wisdom, does not say: "hey, your audit is done and accepted so go ahead and post it on some lame internet board. Geez!!!
Ah yes...the $64 million question...
One very simple question...
...to whom is Frank responsible? QBID's shareholders, it's employees, the community at large? (And, I dare say, it SHOULD be in that particular order...given that shareholders are in fact "owners" of this company). But, Nooooooooooo, Frank is reponsible only to HIMSELF, HIS financial well-being, HIS reputation, etc., as evidenced by all his total BS over the past few years. Well, that's total BS! Carly Fiorina found that out during her troubled stint with H-P. It's time this company had a CEO that has the kahones to admit what's wrong and what's right with the firm, without personal, financial motives. Enough is enough!
Hey loss_slayer...
...I hope you do keep buying these cheap NSDM shares, so maybe one day, your new iHub name might be "loss_realizer". Hehehe!!!
Hey HonestInjun...
...you ever going to post anything related to DMXP, or are you just going to keep posting about Chuck Fipke and his horses (or his dubious distinction of having held the record for the largest divorce settlement in Canada)? Frankly, who gives a rat's ass?!
"If I had to choose between the diamond and the horse, I'd choose the horse..."
Guess that says it all!!!
Certified audit? When...???
end of October, 2005? 2006? 2007? 2008???
What's the matter, Frankie...can't figure out how to hide all those personal shares?
Gimme a break!!! If any of us actually see a truly certified audit before the calendar year is out, I will be very impressed! Anyone care to make a bet on this one?!!!
Does anyone here have anything intelligent to say about DMXP, or has this board turned into a total bunch of BS babble???!!!
Sadly...I believe that we will not see audited financials as promised, let alone audited financials that conform to SEC 10k filings. And, when the audit does not appear, I fear that there will be significant selling...placing even more downward pressure on the stock's already abysmal price.
BTW: congratulations to all you Chicago White Sox fans! We here in the greater Boston area know what it feels like to finally win the World Series after so many, many years.
Hey mr_g...
just love your signature. What an amazingly cute blonde/yellow Lab!
I had a lovely female Golden until 1999. She went to a "higher authority" in 1999 (at 11 years of age) after she had suffered numerous, uncontrollable grand mal seizures.
Still miss her to this day...
The guy should be tarred and feathered...
and then sued until his a$$ hurts!!!!
Stop holding your breath!...
This is a Pinkie...shareholders don't mean squat!!!
What the hell are you smoking?!!!
I may have missed this, but...
does anyone know what the total number of "authorized shares" are, per their articles of incorporation?
There's a lot of talk about the "outstanding shares" perhaps stabilizing at some point in the near future, but if the authorized shares are significantly higher, there's no guarantee that the O/S will not significantly climb once again! In such a case, Frank needs only to release more shares into the market (and I don't need to remind anyone what THAT would do to the PPS!). Furthermore, as shareholders, we are entitled to know what the total authorized shares are.
Well, I do actually think the audit itself...
is important to shareholders in general (see my recent post #178320 with accompanying link). Furthermore, at this price point, I can't see how they will get off the Pinks anytime soon, regardless of their financial situation. I don't know of any major exchange that will admit a company whose stock is trading under 1/100ths of a penny!
Oh, dk, you are such a devil! Hehehe!
Regarding an audit...
Lots of folks here seem very anxious to see audited financial results (and with good reason!). But, if and whenever they are released to the public, one should keep in mind a few salient points.
1) Financial audits are often conducted at a company's calendar or fiscal year end.
2) The balance sheet is merely a "snapshot in time" - typically stated in terms of assets, liabilities, retained earnings, and share structure as of a specific date.
3) The income statement and statement of cash flows typically cover a specified period (usually one year).
Now, even assuming that QBID's audited statements look reasonable at the time of their release, such statements may very well be grossly misrepresentative of the financial state of the company a mere few weeks or months later. Significant financial transactions and share structure changes that may occur after such statements are released will not be known to any of us for quite some time (given this company's history). Quarterly statements would be nice (and are the norm for most reputable companies), but I seriously doubt that we'll ever see them in this case.
So, my bottom line is: don't get snowed by a presumably decent "one-time" financial audit and think that all may be okay.
An interesting column (albeit dated)...
from gfn.com ("The Gay Financial Network"). It was written by Walter B. Schubert, Jr., a clearly well-educated and very experienced securities analyst (check out the link on his name/byline to view his bio/experience). Oh, and by the way, he just happens to be gay (as he clearly admits in the article).
Now, as I said, this column is dated - written on April 21, 2004. But, it's interesting (and perhaps a bit disconcerting) that the points he makes are still relevant today regarding Triangle Multimedia.
Food for thought.
http://www.gfn.com/archives/story.phtml?sid=15534
[I apologize if this article had already been posted on iHub at some point in the past; however, this is the first I've seen of it.]
As P.T. Barnum said...
"there's a sucker born every minute."
Market price is definitely NOT meaningless...it is what the market (i.e., investors) see as the true value of this company (and I use the term "company" rather loosely).
"My guess is that we'll see .01 to .05 once the financials are filed and we move off the Pinks."
Nice guess, but when will that happen? eh, sport?!!! This year, next year, perhaps never???!!!
Hey DaddyDog...I have no idea...
what this company is worth. Do you?...really?!
As to "we will be getting our treats in just a few more days," I've heard that so many times it makes me want to throw up!
Give me something tangible, something published as absolutely (and verified as) true, and then I will be on your side.
WGAS**t!!! With 19.5 billion shares O/S...
and a market price of 0.0008, the "market" has valued this company at $1.56 million. WOW! Talk about your "micro caps"!
This company has been hanging around for how many years?! Two, five, more???!!! And yet, they have a market cap of less than $2 million!
Don't hold your breath...
Hehehe!!! (eom)
AND AGAIN, AND AGAIN, AND AGAIN...
ad nauseum!!! What a crook!!!
Thanks sorta...sorry for the snide comment yesterday...
I was in a strange mood.
Geez DoubleK...what side are you on???!!!
You flip sides more often than our illustrious Massachusetts senator, John Kerry!
Man...this is great entertainment...
...listening to everyone trying to make a silk purse out of a sow's ear! Hehehehe!
Let's get real folks...
We're talking about a stock that as of right now trades at 8/100ths of one penny! Think about it! What a freakin' joke!!!
Frank is history; he's dead and gone, except that he himself doesn't even know it yet. Is this where you really want to place your retirement holdings?!!!
GLTA.
IRISH...Amen!!! (eom)
Well, excuuuuuusssssse me!...
I guess that means that YOU also don't know what you're talking about, since you said "...NO person on this board knows what they are talking about."
By all means, please DO comment!
Sorry Skunks...didn't mean to offend...
We're all different in terms of our risk tolerance. You obviously took a chance in 2001-2004 and came out okay. Glad to hear. But, this is 2005 (and not 2001-2004). The stock price today is 0.0012; on Dec. 31, 2004 it closed at 0.005. 'Nuff said.
Hi Penny...
I’m not sure if I qualify as one of the devil’s advocates, but I’m sure a number of people here would say that I do. Anyway, just thought I’d respond to your post, FWIW.
Is it all over for QBID? No one really knows. It’s a non-reporting pink sheet stock – no audited financials, no public acknowledgment of a comprehensive business plan (responsible and accountable to director/shareholder oversight), no time horizons...basically, little-to-no regulation and/or commitment and responsibility to common shareholders. Those still wearing rose-colored glasses will say “no way,” just wait another 5 years or whenever and we’ll all be in clover; while the nay-sayers will say “yup” this thing is history.
From where I sit, it is still just a pink sheet stock/company trying to make something of itself. To date, it simply has not done so. Yes, it has made some inroads with regard to establishing itself as a viable gay/lesbian network. But, its equity and financial structure are ambiguous at best – two very important considerations when thinking about investing.
Bottom line: I would NOT average down right now. Again, just my humble opinion. I got burned big-time on NSDM and again on QBID. I’m not bitter, since it was my own damn fault for getting into these pinks in the first place. If you have very little left to lose, well then maybe ride it out, but don’t go “chasing” it. You can always get back in later if the situation changes and improves.
Neal...I'm with ya'!!!
Sold off all of my QBID position today. Simply have no more patience and/or confidence in its CEO.
As for the oil/gas play, I still think it has more legs. This winter is predicted to be a doozy (at least here in the Northeast). I've done great over the past year or so with stocks and mutual funds investing in that sector, and I suspect that they will continue to outperform the overall market in the next 6-12 months.
PBJ...just responding to your tag line...
what would you do for $1,000,000 that you would not do for $10,000?
Well, it simply depends on when you thought you needed the money/cash.
If it's long-term stuff (10, 15, or 20 years), well then go for it. If it's short-term (3-5 years), then be careful and be conservative. Capital preservation my friend.
FWIW: if I had $1 million in discretionary funds, I'd split it between a high-grade corporate bond fund and a high yield bond fund and simply live very happily knowing that I'll be taking home 5-7% in annual income (that's $50,000 to $70,000 annually in taxable income). Okay, if you're already in a high tax bracket, go for some muni securities based in your home state (since they will be both federal and state tax-exempt).
As a friend of mine once said: "Pigs get fat, hogs get slaughtered and the sheep get sheared!"
My my...what a surprise!
Be careful Charlie...
Conversion of any "convertible preferred shares" (if indeed they are even convertible) is still subject to the restrictions of the articles of incorporation with regard to the total authorized shares. You state that it is 50 billion, but I can't find any verification of that. As to the conversion ratio (again, if that even applies), it is mere speculation at this point.
I'm not trying to take any side here; just trying to study the facts as we know them (and admittedly, there are many "facts" we still do not know as a consequence of QBID's non-reporting status).
Outstanding shares, float, preferred shares, market cap, etc.
Seems to be some confusion about exactly what the above terms mean, so I thought I’d try to clarify. I apologize if this comes across as “Investing 101” - it is not my intention to be condescending to anyone.
Authorized shares: Number of shares that a new company is authorized to offer to the public as stated in their articles of incorporation. Most firms do not offer the total authorized shares in an IPO (often saving some for future offerings). With QBID, we do not know the number of authorized shares (at least, I don’t). If someone can find their articles of incorporation, we would be able to determine the number of authorized shares, which is particularly important with regard to potential dilution. (Dilution = more shares on the market = lower PPS.)
Outstanding shares: Stock currently held by investors, including restricted shares owned by the company's officers and insiders as well as those held by the public. Shares that have been repurchased by the company (and any remaining “authorized but not-yet-publicly-sold shares”) are not considered outstanding stock and are considered treasury stock (i.e., held in the company treasury). Typically, the number of outstanding shares does NOT include preferred stock. This is particularly true for QBID, since QBID’s preferred stock, so-called restricted or otherwise, is not publicly traded.
Preferred shares: In the case of QBID, whether or not Frank’s preferred shares are cumulative or non-cumulative is moot, since QBID does not pay a dividend. However, if they are convertible preferred shares (and we don’t know), the chance for dilution (of common ownership) is a potential reality should Frank decide to convert some of his preferred shares into common shares and sell them on the open market to raise more capital. (My apologies, but I am unaware of or don’t recall the restrictions that may or may not be placed on Frank’s preferred shares.)
Float: Number of shares held by the public (which includes company officers, employees, etc.) BUT not restricted in any way. Thus, the float is the number of shares that are immediately available for trading.
Market cap: Number of outstanding shares (which includes restricted shares as mentioned above) multiplied by the current stock price. We’re usually talking about common stock here. Nevertheless, despite preferred stock being a different class of company ownership, it is still a form of ownership in the company (albeit usually with a non-voting interest, but yet superior to common stock in terms of payments for asset liquidation). Thus, to arrive at the total market cap, I believe that one should also include the preferred stock capitalization value. Typically, the capitalization value of preferred stock is its “par value” – i.e., NOT necessarily the current common stock price – multiplied by the number of outstanding preferred shares. The par value is established by the firm when the preferred stock is issued. Because we do not know the par value of Frank’s large number of preferred shares, I don’t see how we can adequately assess the validity of QBID’s claim of having a $200 million market cap – i.e., “...ten times the market capitalization that the market has put on our trading stock.”
Sorry for being so long-winded, but I just thought that some folks here might like to know about these things. I personally found the exercise of researching these topics very informative. And, again, sorry if I’ve insulted anyone’s intelligence.
Here’s a few reference links:
http://www.investopedia.com/terms/o/outstandingshares.asp
http://invest-faq.com/articles/stock-outstanding.html
http://invest-faq.com/articles/stock-preferred.html
Fantastic!...
now, let's see...what's the PPS today?! Hmmmmmmmm! Could be better! Oooopppps! Forgot to put on my rose-colored glasses! Yeah, much better...all is definitely okay now!
Hi shepper...
I think you're right. Anyone here who was in NSDM knows the feeling all too well! Bummer!
Okay, Kid Charlemagne...good one!(eom)