QED Connect Inc (QEDN)

[DTL]

Couple of points from the Dec 31st, 2009 filing:

In default of $750k of convertible notes.

6. Any default of the terms of any note, loan, lease, or other indebtedness or financing arrangement requiring the issuer to make payments: The Issuer is in default of a series of convertible notes amounting to a total of $750,000.

This statement was in the 3/3/2010 Nazz PR:

"The QED-ProRemote agreement signed last month is expected to close by mid-March."

The statement in bold was in the latest filing:

On or about November 9, 2009 the Company entered into Letter of Intent (LOI) to merge with Southeastern Retail Services, Inc., d/b/a "ProRemote Solutions" ("ProRemote Solutions") and entered
into an asset purchase agreement on or about January 28, 2010. ProRemote Solutions, www.proremotesolutions.com, is a manufacturer of innovative, home-based technology solutions for the Home Theatre Industry. The Company thereafter notified the management of ProRemote of the cancellation of the asset purchase agreement with ProRemote Solutions for failure to obtain sufficient financial data.

So Makmann puts out a PR on 3/3 and mentions in it "expecting to close the ProRemote deal by mid-March." I assume he knew at that time that the deal was not going to work but put out that statement regardless.
At the least; somewhere between mid-March and the preparation/release of the recent filing he cancelled the asset purchase agreement with ProRemote. Zero transparency and zero credibility to execute any holding company IMO.