Brilliant Technologies Corp. (fka BLLN)

[Wayne Rosso]

I received the following private message yesterday:

Sent By: shotcallers To: Wayne Rosso Date: Tuesday, May 11, 2010 3:08:08 PM
Wayne, i am limited to one post and since you are not a paid member, maybe you can post this on the BLLN board. Why dont you offer to work with Qtrax in raising capital and getting the ship straightened out. Come on, if you have the resources, it seems you can help each other.

With respect, I am happy to respond honestly. First of all, I feel, and based on my own experience, that there is no ship to straighten out. In my opinion, Klepsy and Qtrax are beyond the point of saving and perhaps had crossed that juncture years ago. The model, or what little of it that actually exists or is known, is not in the least bit viable from my perspective. Also, I would never be associated with someone who is irresponsible in his fiduciary duties as steward of a public company. Besides issues of credibility, there are actual criminal legal issues that may arise from knowing mismanagement of public companies and I would never take that risk--not that I am personally aware of any such activity. But the track record displayed thus far by BLLN management has not only been unimpressive but embarrassing in my opinion. Consequently I would never remotely consider any association whatsoever.

Once again, let's be honest and realistic. Judging from the plethora of lawsuits and court documents, Qtrax is according to one document, teetering on bankruptcy. From reading through all of the lawsuits, one could easily get that impression. Besides the lawsuits, judgments, and bounced checks, there must certainly be other vendors who have been stiffed and have not filed lawsuits. I personally know of some. Not to get off the subject, but doesn't it seem odd that after Klepsy raved on and on about his wonderful technology (which was nothing more than a skinned Songbird with some modifications) that he suddenly switches to a web based solution?

I also know from my experience with investors that (pardon for repeating myself again but I am trying to give you a complete answer) they will never fund any lawsuits or massive payables. Right now, as I calculate it, Qtrax is facing somewhere in the neighborhood of $4 million in judgments or potential judgments (Oracle) and God knows how much in payables. And we don't know how many other lawsuits are out there that haven't come to light. I ask you, in light of this, why would I want to put myself in the position of fighting windmills? In my opinion it is virtually impossible to get this operation funded. And if you read Klepsy's affidavit that was posted here you'll see that in his own words he said that the reason he reneged on his promise to sign and notarize a Confession of Judgment was because he would never be able to get funding if he did. I feel that the plaintiffs in that suit will easily prevail, and along with the other existing judgments and pending suits there is just no way any investor would go near Qtrax.

So as you can see, there are a number of reasons why I would not allow myself anywhere near Qtrax. And frankly I have not really enumerated them all. But suffice to say that I have issues with the corporate governance, credibility in the marketplace, the myriad of legal entanglements, the lack of a viable business model, and the "personality" of the founder ( I really don't think that we'd get along; after all, I tried to friend him on Facebook and he ignored my request ) I just have absolutely no respect for the guy.

There's an old adage that says "if you sleep with dogs you wake up with fleas." Just talking about this sometimes make me itch. But in all seriousness, as I see it, there's no there there.

I hope that you take this answer to your question in the spirit that it was given.