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After all that delay we see that the are still running the same operation of creating paper and notes.
Back up to .02 where we have been floundering for months.
Ongoing and upcoming conversions carried out by the last two CEOS will continue to have a negative effect on this security and keep us from reaching the highs the CEO Sands brought u to during his tenure.
"Reclamation flipping point"
That phrase I've never really heard in use except on this board to an extreme. "Reclamation flipping point" = dumping . imo.
Nothing big on the product selling front is happening or has happened as was purported to be happening.
The SEC filings released show that to be true.
In the fiscal year 2015 FBEC posted sales FIGURES of over 3 thousand.
I can't find anywhere that tells us what those sales were and if in fact they were of a beverage product and not some type of service.
Year Ended
December 31, 2015
(inception) to
December 31, 2014
Net revenues:
Sales $ 3,129
Total net revenues 3,129
Cost of Goods Sold 2,313
Gross Income 816
That is effectively 0 Sales of product in the real world no matter how it is attempted to be spun.
This company is not selling products anywhere close to the level it purports and it's debt obligations imply.
The proof is right in our SEC filings.
0 Sales as warned.
Oh legal proceedings?
"ITEM 3. LEGAL PROCEEDINGS
We need to discuss the issue with prior director if it is unresolved"
Looks like they didn't even remove the internal note placeholder.
Probably going to have to an amendment.
Is that what this means?
"ITEM 3. LEGAL PROCEEDINGS
We need to discuss the issue with prior director if it is unresolved"
Looks like they forgot to change that placeholder internal note.
We should be seeing a notice of amendment then.
Aside from a few long time fans it appears so.
Doesn't matter what the share structure is, or what people "hear". Without reports nothing can be moved on a large scale.
This terribly low volume won't attract big block buyers to soak up all the convertibles, regardless of float.
If SEC filings aren't complete we should expect to see this in the pinks shortly.
Yes he can.
The only thing keeping us on the QB right now is the filing.
Without that it's back to the pinks where the ex CEO put us and subject to pinksheets reporting requirements.
I wouldn't be surprised if he bails on this mess.
Listed as Delinquent on OTC website.
Not for anyone who wants to trade large blocks.
Volume trap.
It had to be paid somehow since we have made "0" sales that is confirmed through SEC filings.
Most likely more toxic financing to come. The question is how bad is it?
If we have no equity, assets or sales revenue we don't have a strong negotiating leg when arranging more convertible notes to pay the old convertible notes, robbing peter to pay paul seems to be the MO. We may never get our heads above water again and that is worrisome.
There are clear reasons, this item being one of them, why big block buyers are avoiding this liquidity trap and causing our PPS to flounder.
Shrewd enough to enrich himself, his friends and everyone around him except the company he was employed for and it's shareholders.
He seems to have spent his entire time writing bad paper agreements that dump shares into the market causing this catastrophic drop from the highs Sands got us to.
Remember it was Sands that did all the paperwork to bring us to the QB. In a few short months later and Spatafora got us de-listed and put on the PINKS.
Now we can't seem to recover and are in the endless downward spiral of toxic lending that most other OTCs with no products or sales fall into.
I don't know why people disagreed with the 1B figure, it's in the SEC filings, until otherwise revised by another filing that's as close to the truth as you can get.
1 Billion+ shares will take a long time of selling to get through.
I would be surprised if anything was produced to ship to be sent back.
So not only are we not even able to sell a product to consumers, our management couldn't even put together a good paper deal.
Someone usually only offers a deal like that if the other party has nothing to offer. The other party usually accepts a deal like that when they have nothing to give.
Worrisome.
Pretty much. There are enough shares to sell that make about 1 year of current volume.
It is what makes the most sense. We know it can't really be retail back and forth as it's a clear volume trap for any big block buyers.
Yep, looks like they are printing more paper and selling into the market as they have the last 6-8 months. I don't think the buzz around a new CEO with a sketchy track record will make enough of an impact.
Sales of a product that isn't a security would probably help us a lot more.
Looks like another bumble by the old amateur CEO.
Puts FBEC into a bad spot having to use other monies gotten from most likely new notes to for old notes.
A sign of problems in any OTC ticker if they have to borrow more to pay old loans.
There a lot of conversions that are ongoing and upcoming that have been putting negative pressure on this ticker.
Be cautious as it is currently a volume trap for big block buyers.
Oh look... the company says there's arbitration. Wow and a link.
Thanks!
New CEO took over on 9/11/15, a Friday ...
On 9/15/15 PPS hit low of .011 .
Those are facts. The rest is opinion.
Good day to you too.
Stock dropped and stayed low under the guidance of CEO Spatafora not Sands. Fact.
Low trading volume under Spatafora.
No Sales under Spatafora.
Delisting to PINKS under Spatafora.
The list goes on and on of all the things he did to bring us to this low PPS from the highs we've seen.
The new CEO has a big mess to clean up that Spatafora put us in.
The JV IS the 3rd company creating a bridge allowing two entities to do business under one umbrella.
They do not own any ownership stake in DUBE parent company.
As well as the company being cleaned up and brought to the OTCQB by the SANDS. Not Spatafora. Spatafora got us DE listed and into the PINKS because he couldn't get the accounting sorted. Now it seems he's left it in such a mess in 6 months that the new CEO can't get them sorted and we will prob get DE listed again back to PINKS.
So disappointing and amateurish.
He also brought in "0" sales. The PPS where it is. No distribution to speak of. No new employees. Many new deals signing away millions of shares to himself, his friends, his friends companies and companies that have not produced any revenue for us.
We are at this low point because of him, his actions and his friends actions.
It's all in the SEC filings which are the only factual statements they are obligated by law to provide.
All facts point to current PPS being at the feet of Ex amateur CEO J Spatafora. SEC filings state it clearly.
Incorrect. You can't be disorganized and scam people when you're bringing a company to the QB. The SEC has direct involvement in that process as well as the auditing required. That's a fact.
The company fell into the hands of an amateur stock promoter turn amateur CEO that drove it off the rails and for a short time into the PINKS.
Now because of Spataforas direct actions or inaction, we are at this low PPS and the possibility of being de-listed from the QB AGAIN within a 12 month span is HIGH.
Last time this happened it was blamed on Sands. Who will be the scapegoat now? As the shares continued to be printed and ongoing and upcoming conversions have a negative effect on the PPS.
.14+ after RS.
A lot of the work is probably sorting all the conversion agreements and stock issuance to the ex CEO and his amateur IR firm he locked us into an exclusive agreement with before leaving the company.
So now it will be an official hard launch rebranding launch for sure this time for real hard launch? Just give them a few more months or another year to really get it sorted out.
Different face, same MO.
Late 10k. Probably to be dropped from QB.
No sales. Now asking for more time to figure out what will sell.
Very disappointing.
Looks like this CEO is following the MO of the ex amateur CEO we had (The one that brought us down to this PPS)
Instead of focusing on running the actual business and taking care of it's requirements they pump another "1st run" agreement.
I think that is the 3rd "1st Run, official launch official hard RE-launches" in the past 8 months.
No attention to the actual company or it's SEC filing requirements it seems.
Liquidity trap for big block buyers still.
You think they'll get dropped from the QB again like when the ex amateur CEOs couldn't get their financials in order?
Volume only seems to come lately when FBEC has something to pump.
Liquidity trap atm for any big block buyers.
Seems that the only thing that's changed with FBEC is the face. It is operating the same way.
Pump the paper.
What happened to all those sales of wolfshot we were told repeatedly to expect?
Maybe that "we" isn't you but another group.
Yep. Just poking a little fun.
The only thing we can rely on as fact are the SEC filings that this company files.
They show a great deal of share conversions and no sales to speak of.
Other than that everything is speculation, including potential PPS heading "north"
Maybe that vague statement means the entire operation is moving to Canada. Maybe that's what this new CEO plans on doing.
So is this new CEO going to be the only employee like the last?
Fundamentally nothing else has changed other than the face of the company. Operations are still at a standstill, we are still locked into an IR contract with an amateurish IR firm that the ex CEO owns. We have no sales to speak of, no sales force, no true advertising happening etc etc etc.
One of the best things that could happen is this CEO tear up all the contracts to all 3rd parties this Ex amateur CEO wrote up in his short stint. Take them all to Arbitration.
At least Sand had brought us close to .12 cents during his tenure and there was volume in this security to make it semi trade able.
Train him to do what? The ex amateur CEO didn't have any beverage to begin with and while he was in charge didn't do any fundamental beverage work.
Now he's hired another CEO with no beverage experience that is an expert in RE starting companies when the ex amateur CEO said HE was the one that rebuilt the company and he's handing it off to a runner. If he could keep his story straight once maybe bigger buyers would be interested in this.
Agreed.
If our new CEO doesn't have any beverage industry experience I can see the big block buyers will continue to avoid this ticker.
Wiki on Island Records says the company was "relatively unfocused in the 1990s."
We get to look into our new CEO today I hope.