Blackout Media Corp (BKMP)

[Rasica]

Strongtower.................................................................repost for you....


This was Sandy's reply at the bottom about the misinformation given by Schwab to an iHub member/BKMP share-holder......

I assume this answer was given to everybody calling in..
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Posted by: NRA Member
In reply to: None Date:9/19/2006 1:36:18 PM
Post #of 147639

While I have been mainly a supporter of BKMP, I also have mentioned numerous times that I tend to not trust human nature. As such, I decided to check with Schwab to see what they know or even think about the dividend. I figure they know a heck of a lot more than I do about this stuff, and I've certainly paid them enough in commissions that they can do a little research on my behalf.

I just got my reply, and it's not good. It appears that the dividend will be canceled, but papaerwork to do so has not been filed. Here is the E-mail. First is what I sent, and follwing is her reply.

--Original Message--
From: [e-mail]
Date: 2006-09-18 12:03
To: [e-mail]
Subject: News & Research domestic)[#5981835]

Xxxxxx Xxxxxx

I wanted to see if you have any additional information about a dividend that is being paid to BKMP. It is somewhat unusual, as it is 10,000 preferred shares of Blackout Media Corp. for every 1 share of Blackout Media Corp. common shares held on September 15th, 2006.

This is a link to the PR announcing it:

http://www.marketwire.com/mw/release_html_b1?release_id=159477

Here is a link to a clarification of it:

http://www.marketwire.com/mw/release_html_b1?release_id=160894

The Ex date was 9/13, the record and pay dates were both 9/15.

I wanted to see if you know when I will see these shares in my account yet, and if you know any more on this dividend.

Seeing as I have X common shares, I will end up with Y shares of this new preferred stock. Have you done any research to find out what this will mean exactly? I find it hard to believe that I will end up with billions of shares of ANYTHING. How will this affect my account, and my finances here in general? Do you think it will be a good thing, or is it some type of "scam?" With the number of shares that there will probably be, I doubt that I will ever be able to sell them, as there will be no market for them. Do stocks sell for less than $.0001/share? That will make just my preferred alone worth over $X million on paper, but useless if I can’t sell.

Any additional information that your expertise may provide on what this may actually "mean" to me would be greatly appreciated as well as the info on when I may see them in my account.

Thank you.

Her reply:

Dear Mr. Xxxxxx:

I can certainly understand your concerns. Our internal information indicates that Blackout Media may have cancelled this dividend without (yet) filing the appropriate paperwork to make the cancellation official with the Depository Trust Corporation (the "DTCC" mentioned in the clarification news release, although the company name is normally abbreviated as DTC).

The DTC has advised us to maintain the dividend announcement, but that they believe the dividend will most likely not be paid.

At this point, you may wish to follow up with Blackout Media's Investor Relations contact. Here is the information from the news release Web link* you provided in your email to us:

Investor Relations Contact:
Tim Foster
OEB International
Public Relations/Public Affairs
Tel: [phone]
Fax: [phone]
E-mail: [e-mail]

*The Web site listed is not affiliated with, sponsored by, or endorsed by Charles Schwab & Co., Inc. The Web site has not been reviewed by Schwab, and Schwab makes no representations about its content. This information should not be considered either as a recommendation by Schwab or an offer to purchase or sell any securities.

Since you will most likely not receive the dividend as described, this should alleviate your concerns about the number of shares you would receive and your ability to trade them. As far as whether this is a scam, I do not know. It is difficult for me to imagine that a company whose stock is trading at $.0006 per share would have sufficient resources to pay a dividend of any value.

If you have additional questions about this matter, Mr. Xxxxxx, please feel free to reply to this email. We appreciate your business.

Sincerely,

Julia Thomson
Investment Specialist

Guard against identity theft by avoiding email and Internet fraud: Be aware that Schwab will never request or disclose your personal information (account number, login password, Social Security Number) in either a non-secure or unsolicited e-mail communication.

NOTICE: All email sent to or from the Charles Schwab corporate email system may be retained, monitored, and/or reviewed by Schwab personnel.

(c) 2006 Charles Schwab & Co., Inc. All rights reserved. Member SIPC - http://www.sipc.org/

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From Sandy:

From Sandy Winick Tue Sep 19 11:33:30 2006
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It is a load of crap and a bunch of lies.

Bullshit, Schwab is probably short that is why so they don't have to cover.

Maurice Richards at DTC is handling the dividend for ther DTC his number is 813-470-1568 if you want to check with him.