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Is there anyone actually investigating Frank and Co that can bring charges and try to recover some of the money?
Not that I'm expecting anything, but hey..I don't like being lied to, especially by someone ripping me off. The potential for everyone to make lots of money, much more than was stolen, was wasted by greedy idiots...
Trying to recover some cash with XKEM --bought at .01, over .03 right now--and several big PRs expected soon --at least it's a BB stock and reporting.....
Just wondering on timing.
No one has suggested a realistic way for QBID to recover without a R/S. (No money for buyback...)
Timing of it though, can make a world of difference.
If he did it now, it would drop to nothing again...
If he waits six or eight months, when there might be a successful Gay Games and possibly a decent revenue forecast, then it won't drop as much.
Really depends on Fan's goals and how far he will go for the current shareholders.
Does the R/S take place as soon as you file?
Or can you file, then time it for some time later?
OK, an R/S is not popular.
At this time, maybe not for a long time. there is no money for a buyback.
What are the alternatives?
So what options are available to correct the sharecount?
R/S would be easy, cheap, and unpopular with everyone still invested.
Buyback looks unlikely any time soon--all available cash needed for new shows, advertising, and Gay Games production.
Is the best strategy for Fan to do is to wait until after the GG, when possibly there is more income and credibility, before he does something?
Any realistic scenarios for a relatively positive outcome?
CH48, only you have been hearing a death rattle, and nothing else...
Frank Hagan was hired for content --Fan isn't doing that himself.
Some of the programs were well received, some less so. I expect the good ones will stay, and new ones created.
Doesn't happen overnight. It takes months, just to get it started.
The potential for QTN is still great long term.
From what I have been hearing, most of the GLBT community hasn't even heard of QTN yet, so it doesn't have a bad rep with most of the potential audience.
Proper management and financing can pull QTN out of where it is, it will take time, though.
If they had removed QTN as official broadcaster, they would have announced it.
QTN might be in a position to have to prove that they can still handle it.
So maybe no decision has been made either way.
But the point is, a decision would have been made against QTN if Fan had not been trying to keep QTN running...
QTN is still listed as global sponsor on the Media page of the GG site.
If QTN lost the GG contract, it would be big news.
So, there is evidence that Fan is trying to make QTN work, and no evidence that he is out to liquidate it.
A successful QTN will make far more money long term than any short term liquidation...
What we do know is that Fan persuaded the GG management to let him keep the broadcast contract, Without real good evidence of the continuance of QTN, they would have dumped Q weeks ago.
Also, staff is staying on, and some new shows are being broadcasted.
None of that would be happening if Fan was planning to liquidate and bk QTN.
That would happen if he did a r/s at the wrong time.
It has to be done with new shows, subs and carriers, and as a move to a new board..has to be done with a lot of forward momentum.
A r/s done now, for instance would be a disaster for us...
I'd rather have money back than revenge...
And going after FO would cost money, not ever make any...and no guarantee any charges would ever stick. And if they did, we could not recover any money let alone make back any we lost...and it would take years...
Ahh, maybe I should be more specific, money is scarce for QTN..
Risk factor is too high, unless Q pays ruinous rates for it...
With money being scarce, a buyback would waste resources. A 1000:1 r/s would be much more effective.
As long as:
1. No more dilution
2. Financials released
3. Plan to bring QTN profitable is released
4. Progress on the profitability plan is shown..
Items 2-4 need to happen before a r/s happens.
Sure the price will drop back some after an r/s, but it should recover if QTN is successful.
Millions could be spent on a buyback, and the stock might not go up at all. No value gained, tons of money lost.
All money needs to be spent on programming and advertising, if Q is to succeed..
Accounting irregularities might simply indicate very poor bookkeeping, and while some stuff might be technically illegal, not enough to do anything about it.
Making the jump from poor bookkeeping to a criminal case takes time and money to prove. And to what end? Only the lawyers would make money, everyone else would lose...
Bashing always loses to common sense....
Well nothing, if it stays there, and if there is absolutely no worth in continuing the network..
However, QTN is still broadcasting, still has broadcast rights to the GG, and has new management which is trying to make it successful..
And new shows are being broadcast daily.
If GG management thought QTN was a goner, they would already have pulled the contract. Fan must have satisfied them sufficiently to let them keep the rights.
Still no guaranteed success, but not dead yet.....
Yeah, the longs know it's wait and see, so, without any news, they are mostly quiet...
Just noise left......
Missing a very big important point --Q owns the broadcast rights--which can be sold or subbed to someone else....
They are worth a fair amount of money. No one is going to give that away...
Before he announces a fix-it plan, he needs to get the financials in order. If they were in as bad a shape as he says, that will take months.
As long as Q keeps broadcasting, the shareholders have a chance.
Q will manage the GG broadcasting, whether they do it themselves or sub it out.
It's a waiting game for now...lots of work for management to do.
Make it an 'Almost Live' style show, and it would gain cult status....
If Fan pull's an FO, then most of his staff will quit. QTN will go under.
To survive, Fan needs to be transparent and protect the shareholders, to his best ability, along with making Q respectable and profitable.
For shareholders, it's still wait and see. It will probably take the rest of this year to play out.
Goes both ways --pumpers are also protected...
Which means, be careful what you read on the boards, and do your own DD.
Everyone has an agenda...just make sure the agenda of a post you plan to act on is the same as yours...
Goes both ways --pumpers are also protected...
Which means, be careful what you read on the boards, and do your own DD.
Everyone has an agenda...just make sure the agenda of a post you plan to act on is the same as yours...
Is that a Royal We? I hope so.
If Fan succeeds, QBID, or whatever it turns into, will be off the Pinks.... May take until the end of the year, or longer...
QTN will either succeed and be off the Pinks or fold as a company.
You wonder about people who can bash and bash, for so long, with no stock, and zero faith in the company, and still be posting daily...many times daily..
Give Fan a chance, so far he has made the right moves. It takes a lot of time to turn this company around. If he can deliver the GG, then I think QTN will survive.
Free tier means not being available in many(or most) parts of the country...
Logo isn't everywhere--too much religious right backlash...
And Logo is very tame...
Maybe free tier in some areas, pay in others that won't allow a GLBT station open broadcasting?
Once Fan can show he has financing in place, and that subscription numbers are growing, then an R/S makes sense.
I think there is too little cash available to do a buyback --it's need to keep broadcasting.
When there is evidence that Q is recovering, a 1000:1 R/S would put us back where we need to be..
Sure, the pps will drop a bit after doing that (buying opportunity), but it should recover fairly quickly, if Q shows evidence of growing profitable.....
Might need to happen after the GG, though. Q really needs to show something very positive to get confidence back...
Yeah, Logo is free, and it's so bland and boring, it's not worth watching. And it still can't be carried in major areas of the US due to Christian conservative objections...
d the address is often that of the people who maintain the site, not the official office address of the company..
My Web sites were under my admin's address for years...
If you don't throw parties and advertise at major events, you might as well shut down. It's part of the cost of doing business.
You have to be very visible to even have a chance at suceeding.
Having good business skills is needed too, and that's what was missing earlier with FO...
NDA's last longer than your employment, unless there is a specific clause written in limiting their length.
I sign and issue NDA's all the time for my company, and did when I worked for Microsoft also......
You don't know what the definition of a scam is.
Olsen's goal was to build QTN, not rake in cash, not deliver anything, then run away rich.
Didn't happen. FO is is most likely much poorer now, and his health can't be great from all the stress.
There is a product, QTN does exist.
In a scam, QTN would never have broadcasted, and FO would have lots of money, be rested, and in good health.
None of that occurred.
FO is guilty of poor business tactics and questionable ethics. If he had lucked out, and gotten QTN successful, not much negative would have been said. Very typical in the business world.
Competing against Logo as another free GLBT station is not a good idea.
First of all, you have to be very bland. A number of my friends, both gay and non-gay, thought Logo was too boring to watch.
Second, QTN is already a recognized brand. It would be a major waste to start over. New management and good content would quickly overcome any negative context held by a small number of people.
Third, it's up to Fan to justify a business plan to make QTN successful. Holding parties, launches, and paying for carriage are all part of what's needed. You need to generate excitement for a long enough time that people get interested enough to survive. It takes a lot of money to do that, and talented business executives to run it.
FO didn't have the money or business expertise to pull it off, but he did get it launched and branded. Now it's up to Fan to take it to the next level. And we, as investors, need to see his plans...
No matter how poor and unsuccessful Frank's tactics were, it was clear that he was doing everything he could to make QTN a success.
During the last phone conference, it was obvious he was totally exhausted, mentally , especially.
No indication he was relaxing, partying, and raking profit from QTN..
He tried, and failed. But it was not a scam.
Is paying a carrier for space unusual for a new, unproved network, unusual in the cable/satellite industry?
I would think it's to cover minimum costs if the network bombs..
The business side comes first, content a close second.
Fan and Hinnant have a lot more business credibility than Olsen. And Olsen definitely put content first, you can see where that got us.
They do need to find a good GLBT VP in charge of content, though.
The ball is in Fan's court now. It's wait and see what he delivers time...
If Fan followed through with a successfil GG broadcasting, paid everyone, and continued to expand QTN shows and carriage, then the stock most likely would not sink back to .0001 after a R/S. It's there now because of the high number of the A/S and no confidence in FO.
If the A/S was 350 million, then it would be unlikely for the pps to drop back to nothing unless Fan fails to expand QTN.
A successful QTN broadcasting network should be at least worth $100-300 million, I would think.
The only people that would lose are those that bought high and didn't average down. It didn't cost me much to average down to .0009. Now I will wait and see what happens..
He needs the GG for the publicity.
He has nothing else as a focal point for a major push in subscriptions and distribution worldwide.
Losing the GG would be a major loss.
He's better off doing a 1000:1 R/S, successfully broadcast the GG, and continue expansion. That could easily bring the pps to realistic levels.. If he does R/S, everyone who hasn't averaged down to around .001 or less won't do as well, but the rest should make decent money.. At least we'd be much better off than we are now..
Hmm, do you want to be paid??? or do you want publicity....
I think Jack E Jett is opting for the publicity...
If QTN fails, none of us get anything.
If Fan pulls it off, Jett will be paid. And the shareholders might eventually make something.
I suspect that they are negotiating with Fan right now on what his plans are. If they don't pass muster, then QTN will lose the rights to broadcast.
With a change in management, it's only natural that the GG organizers would want to be informed on what is going on.
I would be really surprised if QTN loses the rights --I would think it would be one of Fan's top priorites to make happen, otherwise his investment in QTN would be worth much less..
And your opinion is based on what??
Do you have info on Fan that we don't?
Until Fan announces his plans, there's not enough info available to make any decions...
Or are you just bashing, as usual???
Everyone, if you comment, at least give some reasons why you say something, otherwise it's just noise, irrelevant to anything and distracting from any real info or DD.
How do you know there never was a audit? If you don't have proof, qualify your statement with an 'IMO'.
Easily could have been an audit that looked so bad FO never released it.