Pfrenz, at this point I care less who is buying, all I know is it seems Frank lied to us all about BUYING Back QBID shares, Instead I now read that it is Frank SELLING all these BILLIONS every day just to pay the Light bills and this is totally unacceptable. IMO what!! 350 BILLION A/S OUCH!!
Frank just flat-out lied last year about being fully-funded.
Posted by: ltesprit
In reply to: None Date:2/9/2006 4:12:24 PM
Post #of 220047
I just had a long conversation with Richard today. He doesn't back away from the possibility (!) that Frank is issuing shares to fund operations. Yes, after all our questions about the source of the stock flooding the market, and all Olsen's protestations that he's not issuing shares and 'if anything, we're buying shares back,' it was pure b.s. It's official: Q has been the source of all that selling. Olsen's going to spin it (judging from my call with Richard) that he thought people were asking him if HE was selling shares. That's our Frank.
Richard also said he hasn't heard any stories about an investor 'dying'. That was b.s. too.
And so, Frank just flat-out lied last year about being fully-funded. He's got everyone snowed. Even Withers and Hinnant don't know the full story. The only folks in the know are Olsen, Schenk, and perhaps one of their attorneys. (Richard mentioned a guy named 'Goldberg'.) This was a brave venture, but ultimately a financial house-of-cards run by a con-artist with delusions of grandeur.
What a disaster. I'm sure Frank has shareholders and creditors breathing down his neck and crawling out of his phone. He created one hell of a financial trap.
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