A Private Group of Investors is in the Process of Purchasing a Large Portion of QBID Stock; The Private Group of Investors is Committed on Buying QBID Stock to 01
PALM SPRINGS, Calif., Mar 21, 2005 (BUSINESS WIRE) -- Triangle Multi-Media
(Pink Sheets: QBID), the parent company of Q Television Network, was informed
late last week that a private group of investors is in the process of buying a
large portion of its QBID stock. The private group of investors has committed
themselves to buying QBID stock up to .01.
"We are delighted to have such strong support for our company. Management and I
feel strongly that the stock is extremely undervalued and we believe it won't
take long to see the price of the stock at a penny," stated Frank Olsen,
President and CEO of Q Television Network. "Our company is stronger than ever.
We are building something great in Q Television, but there is a clear
disconnection between the explosive growth of the company and the current price
of the stock.
"Furthermore, we believe our stock is being unjustifiably suppressed and we can
no longer sit back and tolerate that type of manipulation. We are working with
the private investors and are taking active steps to turn this around. We feel
strongly this will restore confidence in our loyal shareholders and restore true
value in our company stock," said Olsen.
Safe Harbor Statement
As a cautionary note to investors, certain matters discussed in this press
release may be forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such matters involve risks and
uncertainties that may cause actual results to differ materially, including the
following: changes in economic conditions; general competitive factors; the
television network's ability to execute its business model and strategic plans;
and the risks described from time to time in the company's Securities and
Exchange Commission filings.
SOURCE: Triangle Multi-Media
