Phish, translation,
(1) We wanted the smaller shareholders, who would have had very few shares, an opportunity to have a minimal amount of shares (100 CPPC shares) so that they would be able to participate in the potential success of Cinemax.
By law we had to reduce the shareholders to 300 to get past DTC legal, get a new cusip # & ticker & trade this POS as CPPC post R/S. So the beneficial owners gave the cashed-out shareholders a 100 share pittance & sent them on there merry way.
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(2) If we have more engaged shareholders who have at least a minimal interest in Cinemax (100 CPPC shares) it would help all the shareholders as it would create more interests with the smaller shareholders and maintain more of our shareholders and possibility expand their interests once we had their attention. This would have a positive impact on the larger shareholders by increasing the value of their interests by having a wider base of shareholders and demand for Cinemax stock.
If we "engaged" more than 300 shareholders we couldn't get a new cusip #, new ticker or sell the QBID o/s to Cinemax Canada. We couldn't have more than 300 shareholders R/S. We violated SEC Rule 13e-3 by Fan being an insider, but we never filed the required cross border anti-fraud & beneficial owners filings & we don't report to the SEC or disclose proxy info to the common, so know one knows that. Not to worry. ;0)
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(3) Legal counsel advised that the 50,000 to 1 reverse stock split would be beneficial in seeking approval form NASDAQ. Please note that the final decision was made by the senior management team of QBID and not legal counsel. However, we believed it was sound advice under the circumstances to follow this advice.
"NASDAQ"???? LMFAO! The PPS is already around a quarter, nowhere near the NASDAQ bid requirement and Cinemax is only quoted on the pinksheets because they provided pinksheets bogus company info that Cinemax Canada is a company filling the WA shell that went private after selling the scammers the QBID o/s. CPPC doesn't REPORT TO THE SEC!! "NASDAQ"??? LMFAO!! Did his "legal counsel" advise him about that? What a SCAM!
AI
