QuoteMedia Inc (QMCI)

[reaper247]

LOL, laraz…I will try again to help those who do not understand the gravity of the situation.

David Shworan is the CEO and co-founder of bravenet.com as well as quotemedia.com.

Bravenet.com is one of the largest data tools and webhosting companies in the world on par with godaddy.com.



Several years ago quotemedia was spun-off into a public company with the financial data tools developed by bravenet.

As CEO of both companies, he has decided to increase the value of the public company at the expense of the private company.

The roughly $1,150,000 due to bravenet from quotemedia for intellectual property has recently been forgiven.

The deferred compensation that compromises most of the other long term liabilities has been completely restructured.

Dave Shworan converted his deferred compensation into combination of preferred shares and warrants.

The terms clearly dictate that the preferred shares cant be converted until such time that QMCI common shares trade above .30 for a consecutive 90 day period.

His warrants for commons have a conversion price of .10 and his warrants to purchase additional preferred shares have a price of $1.

These terms essentially mean that if QMCI can not easily sustain a common stock PPS of at least .30, the CEO will not see a nickel for his efforts.

Over a decade of work, development, investment and integration to grow quotemedia into one of the largest financial market data providers in North America will have been for nothing, for him personally and financially.

Hope that helps.

GLTU, IMO and FWIW.