I recommend everyone here, longs and shorts, puts Qdog on the Yahoo IGNORE Setting. That setting works great for me. Believe me, you'll be a lot happier without Qdog to make you hate human nature.
Qdog is the village idiot of this MB. But over and beyond that he is untruthful, erratic, and cruel. he's a human version of a blind crocodile. he has no dignity, just jungle instinct.
Sometime when I am not logged in I see Qdog's posts, and I thank my luck stars for the IGNORE feature.
I tend to think Qdog has more allegiance to the short trader camp, and feigns long positions to promote drama.
I don't know ifQdog is serious about his bad experiences long ago with Wizzard/FAB. In any case, taking responsibilities for his own actions is a concept that Qdog has never discovered. What do blind crocodiles know about taking responsibility?
There are reasons why when the media is reporting on a potential crime, they use the words "allegedly" a lot. They respect the legal process and quite frankly, they don't want to be sued. Yet, you have for 7 months sat on this message board claiming to know the proven "facts". I suppose in your mind they are facts, but in a free and democratic society, making statements such as you have is referred to as liable. In my country we have a little concept called burden of proof. This "burden of proof" is front and centre in a court of law, not taken on by private citizens.
So now, you have written that you are going to take a little trip to Florida? This, to me, sounds like a threat. Please enlighten us all as to why you would be going to Florida.
LOL... Joe, I'm sorry you got trapped. But honestly, you're grasping for straws, digging up seemingly every possible excuse for these guys seemingly desperately trying to convince yourself (and anyone else who's desperate at this point) that "all is well" with Fab... You're hoping and praying for a bounce... good luck... But successful investing often comes down to OBJECTIVELY looking at the big picture and weighing the odds and probabilities... How much are you having to ignore to keep up your pumping agenda?? (rhetorical).
- NEVERMIND that the stock has been haulted for 8 month... BUT All is well
- NEVERMIND that they didn't account for a 11% bond they issued which the Chairman was basically in the middle of... BUT All is well.
- NEVERMIND that when the bond was exposed, the money was conveniently (supposedly) sitting comfortably in an outside account, none of it spent, and ready to be brought right back to Fab (supposedly)...no meaningful proof of this of course... BUT All is well
Nov. 14, 2013 10Q : "... has an installed network base in excess of 16,000 Intelligent Media Kiosks..." ". ..... FAB has deployed in excess of 16,000 kiosks... "
- NEVERMIND that after questions arose regarding their claimed "DEPLOYED" Kiosk counts, instead of providing meaningful proof, they now attempt to change the topic... BUT All is well.
- NEVERMIND that insiders were dumping large portions of their volumes of their holdings after the November " pump", just prior to the hault... BUT All is well...
Need I go on??
If you're stuck on this "..prior to the 2012 Proxy", WHY DON'T THEY post of directory, addresses/install dates of the Kiosks "installed since that proxy?? (That would be 5Kish on top of what they claimed to have the 3rd Q of 2012, right?? (".... installed network count approaching 11,000 Intelligent Media Kiosks"....3Q 1012 10Q)... Intellectually I think you know the answer, but I'm thinking you're not emotionally ready to admit it yet... GOOD LUCK
lbcb321 says:... "That makes no sense"
... PLEASE stop reading my mind... LOL....
lbcb321 says:... "OMG! This is your Redbox meets Netflix of China! Face it... you were taken...."
... LOL... Looks more like Enron meets Madoff meets Qdog... LOL...
You hit the nail on the head lbcb321 with several of your assessments.... This "report", which is not the actual report, but a Fab PR report ON the report. is LAUGHABLE at best... Try as they might to coat the pig with lipstick, the pig has come more clearly into focus... NO ONE expected them, or expects them to throw their hands up, pay big fines and/or march themselves willingly into Jail.... But it's fairly easy for the objective eye to see that there are serious problems with their Chinese operations, how they REPRESENTED THEM to prospective shareholders, VERSUS REALITY....
I'll go into more detail later on my thoughts and takeaways later when I have more time (for those who might be interested)...
The "Carnes Scam Club" will never see any problems... They're emotionally invested and refuse to see anything but blue skies and clear sailing as they SEE WHAT THEY WANT TO SEE, AND IGNORE THE REST.. That will be a reality on this forum until the end.... The stock may bounce around for YEARS as conclusively proving fraud in China is extremely difficult at best.... Fab will PRETEND everything is great as long as possible as they're in with both feet at this point...
Actions usually speak far louder than words... Massive Insider selling into the "pump" last year should have told enough of a story on it's own... More later.
"FTI and Loeb were provided a complete list, prepared by Huzhong Culture (“Huzhong”), the company that maintained the kiosks, of all such kiosks."
Well... release that list like you said you would do once it was translated.
"Almost all of the kiosks found in the survey derived revenue from goods or services, primarily advertising, unrelated to the sale of downloadable content."
WHAT! These aren't the kiosks you claimed they were.
"While the Company recognizes that some confusion may have resulted from the fact that it refers to all of its kiosks, even those that do not offer content for download, as Intelligent Media Kiosks or 5C kiosks, only approximately .3% (three tenths of one percent) of the Company’s revenue comes from download fees, which is consistent with the Company’s financial records."
That makes no sense. There are many references to the capabilities of what a 5C kiosk is. This is blatant nonsense what they are trying to claim. Release the list and let someone truly independent find the kiosks and determine what they really are and when they were deployed.
"The Company has not yet been able to renew the maintenance contract with Huzhong for the kiosks, which lapsed last year, and learned from the surveys that many of the kiosks did not function, either because of their condition or because they were not plugged in."
OMG! This is your Redbox meets Netflix of China! Face it... you were taken. The part that should outrage you is Spencer and Busshaus knew this before they approved the deal.
I can't stop laughing long enough to write more.
Strange. You would have think all the shorts have covered. What would they have waited for ? So institutions must not be forced to sell after all. At least not the hedge funds.
I am very impressed. I think there is money to be made either holding or trading. I am doing both.
you people should be more worried on why the investment community hasn't reacted better toward all this "good" news just released rather than worrying about some shorting idiot on this message board that is full of themselves.......beyond bizarre imho....
=Carnes does know where the kiosks are. That's the scam of the scam.
That would be pretty stupid of him to make a major allegation on something he KNEW the company could refute. It is even more stupid of FAB to NOT issue the kiosk locations to discredit him and raise doubt about EVERYTHING he said. Pretty basic when you look at it logically.
Which is more likely... Carnes based a whole thesis on something he KNEW to be incorrect that he KNEW could be easily refuted or after speaking with the manufacturers of the kiosks he KNEW there was no way FAB had DEPLOYED the number of kiosks they claimed.
By the way... "it's not like they were hiding the fact) those pre 2012 Kiosks were not the same as the ones that applied to the PROXY"
They stated in the marketing materials dated September 30, 2013 that the "approximately 16,000 kiosk locations were of the 5C type. Blows that theory.
This will all be settled in Discovery of the court case. They have 40 agents for 40 different cities to license kiosks. The Beijing agent will be deposed and will not confirm she sold 3,954 licenses for Beijing or will say they were sold but not deployed. They can depose each of the 40 agents and we will see who is lying.
Anyone that expected Carnes and Goinvesting to go quietly into the night was dreaming. They expected to FAB to be delisted and trading on the pink sheets by now, not to be up date on all their SEC filings and getting ready to open again on the NYSE. They is not a small play for them, I'm going to guess they have are responsible for at least 50% of the 3M shares short.
So I'm going to run with lbcb assumption that the motives for the release of this info is about as slanted as you can get.
I think the info is legit.
Spencer did hire a firm to conduct an investigation into Zhang and FAB before the acquisition. He did not go in with his eyes closed.
The email generated from Spencer was 9 months before the acquisition, meaning the report was generated over a period of at least a few months prior to this.
Clearly from the email Spencer clearly was not hiding anything. He never tried to sugar coat the report, or edit it. He sent it to everyone and expressed his opinion clearly.
So the question I have is what happened in the 9 months between this report and the closing of the deal?
One area this does clear up for me is where those "corporate governance" issues came up with regard to the 290 preferred shares. Spencer was looking for protection down the line just in case he didn't get the closure he was looking for.
no news feed to find? .. ah ah ah ... I am enjoying my VICTORY ... the BOND news is what got fab halted ... ...
see my tweets ... you will find a link to the NYSE WEBSITE ... where the NYSE announces the START of DELISTING process for FAB Universal
Oops. I meant unemon1 (Carnes?) with a question mark. I believe that alias is associated with Carnes and/or his wife, but I do not have definitive knowledge of that.
Unlike you... I believe in the end the motives do not matter, but it is kind of coincidental how things played out today. 99% sure inside information of the NYSE delisting determination to FAB was leaked. Wonder who turned?
=I'm getting mixed signals on the delisting. because it sure reads like the last one....delisting for not filing their 10K.
No, Joe. People can understand a delisting notice for a delinquent report. Happens all the time and is automatic and routine. This is WHY they are delisted this time:
"because the Company or its management have engaged in operations which, in the opinion of the Exchange, are contrary to the public interest."
You keep spinning, but basically the NYSE listened to the company and determined they had enough information that they are a sham and the public needs to be protected from them. They have not used this discretion against a lot of other proven frauds and it is extremely significant they used it against FAB regardless of how you continue to spin it is routine.
=.interesting how lcbc left this part out of his cut and paste.
It didn't fit and was irrelevant. They already had their appeal and staff determination. This was boiler-plate language in the PR. It was the Staff Determination after an appeal and hearing that determined the delisting.
Your job is almost over, Joe. You continue to cover for the inept and corrupt management that harmed so many people, but the NYSE had the second to final word. Now we cross our fingers and see if the SEC concurs and issues their own suspension.
Lol, you should talk Truth! Coming from the very clown who talked positive about this scam just a month ago and ripped constantly on Ibcb, who turned out to be correct about this stock all along. Just yesterday you stated a half dozen times this wouldn't trade today. Are you still "positive" about the VIE and FAB?? Get a job and get off mommy's computer.
= I suggest anyone with a position in FAB go to the FTI web site and read about what FTI Consulting does and who their clients are.
Yes, examine this:
"Regarding FTI Consulting, the firm Loeb retained to verify the “kiosks” in Beijing, I can only say that
obviously the scope of the work they were hired to do appears to have been deeply flawed. They
should have been verifying the existence of the “media kiosks” in Beijing, which FAB had repeatedly
claimed amounted to 3,954 units. I would also point out that in 2011-2012 FTI was retained by
Shearman & Sterling to independently investigate my allegations against China Integrated Energy
(CBEH). I cooperated with FTI’s investigation, providing them with copies of all my time-lapse
images of CBEH’s shuttered biodiesel facilities. CBEH would later announce that the investigation
more or less “cleared” it of all wrongdoing. Nevertheless, CBEH failed to ever get its 2012 or 2013
financials audited even after downgrading its auditor two times. The SEC is now in the process of
deregistering CBEH so that it will never trade again on any U.S. exchange."
From a new A*L article just out. Not very well written, but gives enough information for people to verify.
=If you think the info is verified correctly as of 12/31/13
Explain again how they verified bank account balances on 12/31/2013 when they weren't even HIRED until months later? How come they haven't announced a true forensic accounting method where they have verified balances at the bank on different dates running to the present so funds couldn't merely be shuffled around?
They even lied about it being an INDEPENDENT investigation. It was an INTERNAL investigation. Big difference. We will never know what was REALLY found. It must have been REALLY bad for the "highlights" to be that the kiosks are nonoperational, pirated content is confirmed, the contract to maintain them lapsed last year etc. etc.