Replies to post #11205 on QSGI, Inc.(fka QSGI)

[TOUCAN]

b]QSGIQ - $2,256,140 paid to Secured Creditors

Wow, Quick 363 sales, by contrast, can move nearly all key assets to a new buyer in lieu of a formal reorganization plan.
Anyone care to venture who the buyer of the QSGI assets were? I think I know
Did some more digging in to the recent 10K, as of March 2009, officers owned 15,092,500, or 19.8% of the shares outstanding. Riconda/Pike own 28.9% of the shares outstanding. All those shares total 48.7% of the shares outstanding meaning the new shares outstanding could possibly be 76,350,000. If you take the 48.7% above and throw in the floating shares (our shares) of 14,000,000 you get 51,148,473 shares of the 76,350,000 possible share count or exactly 67% of the shares outstanding. So who or what owns the remaining 33%, or about 25,201,527 shares?
As with the Pilgrims Pride which also did a 363, they issued 64% of common stock to JBS Holding and the remaining 36% was given to the common shareholders. I am guessing we will see a similar situation here with QSGI/Kruse. Officers, Riconda, Pike will have 48.7%, Creditors (TBD) will have 33%, and the current shareholders (QSGIQ holders) will have 18.3% of the new company, my guess Krusecom.
To try and value this new company with about 76 million shares outstanding, if Krusecom is doing $30 million in revenues and would trade at 5x sales, you would have a stock that should be trading in the $2 area. Even at 2.5x sales you have a $1 stock.

http://www.4shared.com/document/hklFXlj3/QSGI-Qualtech_305_8-20-10.html

[smokestack]

Per HDOGTX conversation with the Ceo, yesterday.


Covo w/ QSGIQ CEO

1 Asked about the OS, he said last SEC filing has the OS at 38 Mil!!

2 POR release, court hearing tomorrow he said and told me we will jsut have to see what happens then!!

2 Status of Commons- considered inside info and cannot divulge!

3 Properties, yes they are in the FL corp office and the NJ site is a NEW property.

4. Secured Creditors 100% dealt with, imphatic yes and he even said this was the biggest hurdle!!

5. About KruseCom, it's about being profitabale! Very Similar Business model as QSGI, 3 aspects, Buying/Selling around the globe, Spare Parts, and the Biggest Data Security side.

6. He said that of the few things that led QSGI into BK was the economy at the Time, for example he had Clients such as Goldman Sacks and Merril Lynch who owed the CO very large amounts and they just Didnt pay!

7. He was very excited to have this converstion and glad that we are interested in them!!