Another way to defraud shareholders sell them public stock and then take it privet with very little value.
1. who do you think owns most of the voting stock?
2. Class B can not convert back to common.
3. all common converted to Class B non trading shares.
*******************************************************
From QBIT**
Shareholders,
Pursuant to the Shareholder vote that was finalized on June 12, 2007 and pursuant to recent decisions of the Board of Directors,
1. Quantum Bit Induction Technology, Inc. Class B Shares have been assigned CUSIP # 74765B-20-4.
2. The Company will apply for DTC eligibility for its Class B Shares.
3. The Company will execute a mandatory conversion of 99.998% of all issued QBIT Common Shares to Class B Shares. The effective date of the mandatory conversion has not been set but is expected to be sometime in August 2007. This group and the public will be officially notified when the date is set.
4. The Company will terminate conversion rights from Class B Shares to QBIT Common Shares upon;
The establishment of a trading marketplace for Class B Shares, OR
The acquisition of more promises to deliver QBIT Common Shares in our Treasury brokerage accounts than are issued of that stock class.
5. Conversion rights from QBIT Common to Class B will continue at the published conversion rate as set by the Board of Directors.
Thank you all for your support. We are doing something VERY IMPORTANT with this Company and thank you all for your confidence and patience.
Regards,
Mike Skillern
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