You know your stuff. Excellent. Stick around.
I think a deb-to-equity conversion happened too, but I'd feel a LOT more confident if that if Fan had said so. He did not. Why? Occam's Razor, and past experience with everything that happens with this company, tells me it's because none occured. The omitted mention of the debt is frustrating. Let's hope a conversion did happen and that explains the dilution. I'd hate to think we got diluted to hell AND are still stuck with $35 million in debt. Bad for us and the company.
If anyone has not yet done so, go to the SEC website and make a complaint against QBID's former management. Olsen has to be held legally accountable for misleading shareholders. Fan made some very aggressive remarks about dishonesty and accounting irregularities. This may have been a strategem to keep Olsen out of the way. I hope he's smart enough to be getting the Feds involved. It was former management who perpetrated the fraud, not the company, creditors or shareholders.
