FBC Holding Inc (FBCD)

[nerachal]

Worth being reposted !!! For the "newbee's" !!!DD from a well respected I-Hub member !!!!

"I see that still no 8K has showed up showing that the acquisition of Super Rad has been completed. 2 months ago I posted asking where the 8K was.

All of the FBCD press releases focus around the business operations of Super Rad Corp. One major problem with that though. The closing of the acquisition of Super Rad Corp hasn't happened yet.

As of today Super Rad Corp and FBCD still remain two completely separate entities.

FBCD remains a company that has never had a penny of revenues in its history. From the last available FBCD filing:

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7815469

We are a development stage company with limited operations since our inception on May 31, 2006 to October 31, 2010. We have not generated any revenues. As of January 31, 2011, we had total assets of $-0- and total liabilities of $3,478,262. Since our inception to January 31, 2010, we have accumulated a deficit of $19,473,285. We anticipate that we will continue to incur substantial losses and our ability to generate any revenues in the next 12 months remains uncertain.

$0 in cash
$0 in assets
$0 in revenues

LeClerc hasn't even followed through with the name change that he said was coming almost 2 months ago.
From a March 30, 2011 PR:

http://ih.advfn.com/p.php?pid=nmona&article=47087596

"Additionally we have filed for a name and symbol change to Super Rad Industries, and we expect that this should take effect shortly, and we will announce publicly as soon as its approved."


The name and symbol change is not that long of a process. That should certain make it more obvious to some people what is really going on.


The acquisition agreement with Super Rad Corp requires FBCD to pay Super Rad Corp $250,000. If I had to guess, I think that could be one of the major hold ups.

At this point it wouldn't surprise me if Super Rad Corp ended up like every single other company that FBCD claimed to be conducting business operations with and gaining revenues from in the past and really wasn't (FBC Group, Beverly Hills Choppers, Johnny Fratto Social Club Inc., JFSC.TV, and every mining operation that Leclerc claimed to be involved with when the shell was called Wave Uranium).

Take some time to review the past press releases from FBCD that claimed revenues and operations just to ultimately end up as canceled deals. FBCD has never made a penny of revenues in its history.

I don't think any assets or revenues will show up in the next 10Q report since April 30th has already come and gone without the 8K showing up for the closing of the acquisition agreement.

Here is the purchase agreement between FBCD and Super Rad (read it and see what stipulations need to be met for the agreement to close including the issuance of large blocks of FBCD stock and $250,000 cash):

http://www.sec.gov/Archives/edgar/data/1370816/000139160911000088/ex2_1assetpurchaseagmt.htm

Then ask yourself why would FBCD not do an 8K filing announcing the deal has closed? Certainly even FBCD is smart enough to realize what an 8K announcing the deal has closed would do to help the stock price. It is after all a required filing. So there is no reason that the 8K hasn't been filed yet except that the deal hasn't closed yet.
Now ask yourself how FBCD can get away with putting out press release after press release focused on Super Rad's operations claiming them as their own. Technically they can't, but that has never stopped them in the past from doing it and it isn't stopping them now.

Why would Super Rad allow FBCD to falsely use their operations in press releases? Not sure. Maybe the share incentive they received. Maybe they like the advertising for their company. Maybe they expect the deal to close some day so for the time being they don't mind the forward looking statements.

In the mean time most of the top pumpers that showed up to manipulate the FBCD share price 3 weeks ago have left and the stock price continues to slowly trickle back down towards $.02/share.