rick: Please show me where it says that no shares were used for the purchase of NTI and that the O/S would not increase.
9/15/2005 - For Shareholders (Updated)
Dear Shareholders,
Thank you for your letters. I’m aware of your concerns regarding our current share price and I would not say the drop in stock is entirely due to market manipulation, but we have seen certain instances where market makers will sit on the ask absorbing many shares and our investigation in attempting to uncover where that inventory is coming from. I also think some of the drop is a result of lack of awareness and education as to what Q Television Network is really doing.
One year ago, Triangle Multi Media was a shell with great plans and approximately 91/2 billion shares outstanding. With restricted shares committed against the Gay Games, films, contracts, stock bonuses, etc. the outstanding shares are now 19.5 billion, but only 14 billion are actually in the float as the rest are long-term restricted shares. This has allowed us to buy production studios in Burbank, California worth $25 million, a film library worth $2 billion - I’m aware it’s difficult to wrap your arms around a figure that high for our library, but the value of a library is for an indefinite amount of time and is calculated by monthly rental revenue and the high turnover each movie gets from different networks leasing them out. An easy example of this would be one of our many thousand of movies will be leased out for roughly $25,000 dollars and can be viewed 17 times. Now, our library has over 2000 films that again, will continuously generate these dollar amounts for many, many years. It has allowed us to do 1,000 hours of original programming which bring in $400,000 per year over the next 10 years and has bought us the rights to the Gay Games. Further, it has put us on RCN, Time Warner and Cox Cable.
We are currently attempting to buy a teleport which will bring in $300,000 to $400,000 per month forever. This will produce a company powerful enough to compete with major networks and only increase your value in QBID.
So, ultimately, we are going to be a teleport, a production company, a gay television network and voice for the GLBT community – and more. I believe that as we continue to announce what we are doing, the stock will go up. We currently have an appraised market cap of $150-$200 million and we are trading way below that cap, we have recently been offered a nine digit figure for our company and tangible assets of over $1,000,100,000. This is not bad for a company that started with nothing.
It is my intention to put all of this information on a DVD that will be available in the near future. I believe that education and information about Q Television Network’s activities and progress will be key in helping to raise the stock price and increase overall awareness of Q Television Network.
I understand as a shareholder that the growth phase of a company can be difficult, but numbers do not lie and we are building a company that will have a street value of more than a billion dollars. We appreciate and would never take for granted our shareholders who have helped us get here, but what everyone needs to understand is we are growing and all the dollars, stock, etc. put into the company is being done strictly with the growth of the company and success of the shareholders in mind.
We will begin very shortly with a new page on the website outlining our financials, specific breakdowns of deals we have put into place and all necessary information the shareholders should view. This will outline our accomplishments and will aide you in mapping our future plans of becoming the most powerful GLBT network in the world.
Sincerely,
Frank Olsen
CEO, Q Television Network
AI
