Just keeping it real !!!!!! The Real DD !!!! From that same respected poster !!!!
"FBCD - the 8Ks they have filed to date are just the asset purchase agreement (followed by two amendments to the asset purchase agreement) and nothing more.
IF the deal closes there will be a new 8K filing announcing the material event.
The deal has not closed yet - period. To even debate that fact is just silly. I've even had investors tell me the contacted LeClerc and he has admitted that the deal hasn't closed yet (when he wasn't dancing around the question).
It doesn't get any more cut and dry. Anybody trying to argue that the deal has closed is ignoring all the facts.
- The absence of the 8K announcing the closing
- The last 10Q showed no assets
- FBCD and Super Rad Corp remain two separate NV business entities that do not share any officers in common
- LeClerc has not followed through with the promised name and symbol change
The only argument they have that the deal has closed (besides the misleading press release statements made by LeClerc and the misleading FBCD website) is the Form 3s filed showing that Richlin was issued the shares promised in the agreement. What those people should keep in mind is that FBCD also issued the shares for the FBC Group, Beverly Hills Choppers, Johnny Fratto Social Club Inc., and JFSC.TV agreements accompanied by misleading statements about FBCD operations and revenues related to those agreements. Do you remember what happened to those agreements? They were all canceled and the shares returned to the FBCD treasury. The same may happen to the shares issued to Super Rad Corp/Richlin when this agreement gets canceled (unless those shares were issued for other reasons and not in connection with the agreement closing - oh um say like in consideration for signing the agreement and allowing FBCD to use the Super Rad Corp operations/license agreements to help pump the FBCD stock price).
I said almost 3 months ago that the deal hadn't closed and in the 12 weeks that have followed LeClerc has done absolutely nothing to change that fact.
To answer your other question. No there is no form that would be filed for a cash payment of $250,000. It would show up in the 8K for the closing and all subsequent 10Qs and 10Ks in the future.
The next 10Q for FBCD is due out on June 15, 2011. I would guess that the 10Q will either be late so it can come out after the conference call or the conference call may contain an admittance by LeClerc that the deal hasn't closed (probably accompanied by some kind of optimistic statement that everything is on track for it to still close in the near future).
I have no doubts that the next 10Q will once again show no assets and no revenues for FBCD. What will LeClerc do at that point?
At some point all the misleading statements that have been made by LeClerc over the past several weeks and months are going to catch up to him. He can only continue to mislead investors so long with false statements about revenues and operations before either the SEC comes knocking or investors finally wake up and realize the truth. Unfortunately there is always an endless supply of gullible investors which will follow pumpers and misleading statements by CEOs so the onus will have to fall on the SEC.
