DD Support Board and Research Team

[nodummy]

FBCD - I tried to argue back in June that the court case was still an ongoing issue (as quoted in the 10Q put out last year by FBCD).

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64163720

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64171020

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64173325

Looks like based on today's news that it certainly is an ongoing issue.

California Assets Recovery Solutions has already been granted a writ of execution over the assets of FBCD

http://ih.advfn.com/p.php?pid=nmona&article=52125754&symbol=FBCD

"California Asset Recovery Solutions received a judgment against FBC Holding, Inc. in case number 30-2008-00114550, and has already been issued a writ of execution against the assets of the toy company. The amount of the judgment with interests and costs is now in excess of $300,000"

Meaning that being granted a receivership over the shell is probably just a formality at this point.

At the end of next month the NV business entity for this shell will be revoked (May 31, 2012) and then gaining control of the shell via receivership would be a pretty simple task for California Asset Recovery Solutions.

http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=eL3BKrOL7Cp%252bjVTG6ESlOw%253d%253d&nt7=0

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72467498

Even the fake business entity LeClerc created to illegally create more authorized shares for this shell has gone into default:

http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=mPYmw2RWk84hxu8pIhET1w%253d%253d&nt7=0

Interesting that the same day that the business entity gets revoked is the same date of the receivership hearing.

"California Asset Recovery Solutions, LLC announced that it has filed today a motion to appoint a receiver over the business of FBC Holding, Inc. (FBCD.PK), including its Super Rad Toys business. The hearing for the motion has been set for May 31, 2012 in Orange County Superior Court."

I don't think that is a coincidence.


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I'm kind of curious why some investors today felt that old debt holders gaining control of the shell would be a good thing. Don't investors worry that the new owners would then sell off the assets to pay off those debts leaving FBCD as nothing but a worthless shell again with no assets, only other debts. Then the new owners would settle up with the other debt holders by paying them off in large blocks of free trading shares followed by a reverse split to clean up the shell before moving forward. I suppose the other option would be for the receiver to sell the shell to some new dirty penny stock CEO who will then transfer the remaining debt Notes to "non-affiliated" buddies, make the terms of the conversion of debt even more favorable for the new Note holders, then convert the debt Notes into free trading shares to be diluted for insider enrichment. I've seen that happen following a receivership taking place.

I guess at this point anybody taking control of this shell over Chris LeClerc would be a good thing. I think investors grew tired of his broken promises, misleading press releases, and misleading statements.