marketbear....the email below is what i received prior to the last update on their website. i have opted not to post this on the board until now, since it will be considered hog wash. you can't blame anyone for feeling that way after what we've been thru in this stock. i'll continue to wait to see what happens.
here' the reply i received......
Dear XXX;
Your comment::
I own millions of shares of QBID stock. I am very interested in the upcoming merger and when it will take place.
We are still working on it and it is in the hands of the attorneys at the moment. It has taken a bit longer than we expected but it is still moving forward.
You asked: "I have many thousands of dollars tied up in this stock and would love to see it take off again. The way I understand the new structure (if it actually takes place) is I would have 20% of shares I own now in the new stock (merged companies).".
Yes, and that fact has not changed from the original post regarding the merger on the Cinemax Web Site. We thank you for your patience and we at Cinemax will do our absolute best to make certain your investment is in QBID turns into a positive investment in our collective future..
You asked: "I still see millions of shares being traded. Are you buying back shares to reduce the outstanding share count?"
I can assure you that no one within Cinemax operations is buying or has bought any QBIB shares since the announcement was made. We are aware transactions are taking place but are not sure as to the source. .
You asked: "When will the merger be complete? Do you have a new date for this?
At the moment we are at the mercy of lawyers and accountant and I personally will not be able to give you an exact completion date -- except to say "very, very soon." There will be an announcement made on the Cinemax web site when we are ready, and it will be the last one we will make via our web site. After that, it will have to be done through financial wire reporting services.
You said: I am excited about this merger taking place and being able to recoup some of my losses on this investment.
Les, I cannot promise you that any investment is guaranteed nor can I guarantee you will be making your entire QBID investment back. That would be foolish on my part, and foolish of you to believe me if I said we would. You and I both know any investment has risk. What I can assure you is the plans we have at Cinemax are forward looking and long term. It will include hard work, respect for its investors and the assembling of good product and a great team. We are going to try our best to win you over to the way we'll be doing business..
Thanks for writing.
Respectfully yours,
Constantine Papadopoulos
CEO / Cinemax Pictures & Prod. Co. Intl. Inc.
