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FAB Universal Corp. Common Stoc Message Board

joebigbuck 228 posts  |  Last Activity: Sep 17, 2014 3:50 AM Member since: Jan 22, 1999
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  • Reply to

    FAB Recent Job Postings -- Confused

    by djt1223 Aug 30, 2014 12:23 AM
    joebigbuck joebigbuck Aug 30, 2014 1:42 AM Flag

    It's always difficult, for me anyway, to understand Chinese even after it's translated.

    "That’s a fairly bold statement when you currently have on ~20M in revenue to claim 10B sales."

    I think that's a goal, not a claim (RMB's also, not dollars).

    "...purchase will achieve annual sales of over ten billion in online retail goals..."

    The "public offering" probably relates to public opening.

    I have no clue what a "shopping machine" is.

    Accurately describes my wife though.

    "Beijing Cultural Development Co., Ltd. Hongda"

    I can't recall this company, but it sounds familiar.

  • Reply to

    If anyone can tell me this company is a buy

    by qdog91111 Aug 24, 2014 5:51 PM
    joebigbuck joebigbuck Aug 30, 2014 1:15 AM Flag

    This is FAB's content so far:

    "Through the agreements signed, we have obtained the right to distribute nearly 6000 hours of copyrighted content, including 1500 movies, 3451 TV series, and 100 hours of documentaries. High definition content accounts for 35% of the total, and exclusive content with sub-licensing rights accounts for more than 20%. The acquired copyrighted movies cover various genres including motion, romantic, horror, war, and comedy, of which, movies from Europe and American make up over 60%, and 20% movies were debuted in China for the first time.
    There are also 176 award winning or nominated movies at leading film festivals, such as Oscar, Cannes, Golden Globe, and Berlin. We have nearly 100 movies with exclusive as well as sub-licensing rights, including "The Company You Keep", which was officially released to the public on July 8, 2014 in Mainland China, and "Her", which won the 2014 Oscar for best original screenplay. Furthermore, FAB music teaching courses include more than 1000 hours of exclusive curricula and 72 hours of FAB originally produced curricula, including "music instruments grading test", "instruments performance", and "instruments skills instruction". The "music instruments grading test" are delivered by director and deputy director from the National Grading Test Committee, and by well-known teachers from the Central Conservatory of Music (CCOM) as well as the China Conservatory of Music."

    So how much did all that cost?

    A little over 4 Million, according to their 10Q.

    I suspect for content along those lines NFLX costs would be around 4 Billion.

    My thinking is Zhang is going to lock up as much content as he can, then proceed to use his gov authority to shut down as more pirated content as possible (first on the list would be those directly competing with FAB).

    That's the long term play here, IMO.

    The short term play is they keep their NYSE listing.

  • Reply to

    Metal mesh gaining traction

    by highflier2go Aug 27, 2014 3:40 PM
    joebigbuck joebigbuck Aug 28, 2014 12:36 PM Flag

    "Metal mesh is costlier and worse than ITO, and as a result has less than 0.01% "traction."

    Very true, for the moment.

    So far no one has been able to produce metal mesh that is both cheaper and more effective than ITO.

    But if a company could achieve that goal it would become a "disruptive technology".

    Especially if the technological barriers to entry were enormous.

    Which currently they are.

  • Reply to

    Concerns from the 2Q 10-Q

    by gumshoe_waldorf Aug 18, 2014 3:01 PM
    joebigbuck joebigbuck Aug 22, 2014 4:05 PM Flag

    "I didn't start this war with Benjamin, but if he wants to continue on this path I will have no problem finishing it."

    So you've moved from lies to threats?

    What's next?

    Geez, I just noticed GMCR on the side of my screen. I was loaded in that around 13 or so a while back, right after it tanked on earnings in after hours and then ran. Naturally I sold about 500% too soon. Come to think of it, maybe you should lay off the caffeine.

  • Reply to

    I just heard Whatsapp might be buying Fab

    by qdog91111 Aug 20, 2014 11:34 AM
    joebigbuck joebigbuck Aug 22, 2014 1:45 PM Flag

    Hi Apple,

    No deadline that I know of. There's a process to follow, just like there was for the delisting notice
    for failure to file timely SEC docs...10K.
    I'm thinking the NYSE focused on the bond (lack of proper governance controls).
    FAB did come clean about the bond and pre 2010 Kiosks, not sure what else they need to come clean
    about? All their SEC docs are up to date.
    But I agree, they need to get all this behind them. Staying in the "silent mode" is not helping, but it is understandable right now.
    Sometime soon they will open up. After all, they are a public company and they own shares, too.

  • Reply to

    I just heard Whatsapp might be buying Fab

    by qdog91111 Aug 20, 2014 11:34 AM
    joebigbuck joebigbuck Aug 22, 2014 1:38 PM Flag

    Hi Truth,

    What I'm stating is FAB has been shut down long enough from a publicity standpoint. You and I both
    know they are holding back on plenty of good news.
    IMO they are holding back waiting on their NYSE listing. I get it.
    But once that plays out, one way or the other, they need to open up.
    C.C.==== Conference Calls.

    Push means persuade management to see things your way.

    I think Spencer is new to being sued and is being overly cautious. Someone should inform
    him nearly half the companies I follow are being sued for one reason or another. It's
    just the way the world works now (social media and virtual law offices).

  • Reply to

    Concerns from the 2Q 10-Q

    by gumshoe_waldorf Aug 18, 2014 3:01 PM
    joebigbuck joebigbuck Aug 22, 2014 1:32 PM Flag

    "The company has ADMITTED they illegally hid the bond from their consolidated earnings reports. "\

    What is this...lie number 10,001 from you on this board.

    The last time we had this discussion you stated you got the word "illegal" from the lawsuit.

    Then I pointed all the lawsuit did was cut and paste Goinvesting "illegal" quote....meaning it's a nothing from a short.

    Companies change their financials all time when they make mistakes. FAB is not the first company
    to restate earnings and won't be the last. There is nothing "illegal" about restating earnings.

    The money and bond are now accounted for and a no pledge agreement was added to 10K.

    Geez, even when you don't have a vested interest you still feel the need to lie?

    You got problems.

  • Reply to

    Concerns from the 2Q 10-Q

    by gumshoe_waldorf Aug 18, 2014 3:01 PM
    joebigbuck joebigbuck Aug 22, 2014 1:27 PM Flag

    No, I am Benjamin Williams.

  • Reply to

    I just heard Whatsapp might be buying Fab

    by qdog91111 Aug 20, 2014 11:34 AM
    joebigbuck joebigbuck Aug 21, 2014 4:31 PM Flag

    Apple,

    I agree with you. My thinking is they are just waiting for the final word on the NYSE listing. Everything else is done. They are up to date on the filings, the investigation is done and this is trading again.

    When the PR's start flying you'll know the meeting is not far off.

    In the meantime I'll give them until the NYSE listing is decided.

    If no PR's, C.C. or meetings after that then
    it's time to push.

    And I'm pretty good at pushing.

  • Reply to

    Concerns from the 2Q 10-Q

    by gumshoe_waldorf Aug 18, 2014 3:01 PM
    joebigbuck joebigbuck Aug 21, 2014 3:54 PM Flag

    I'm not telling anyone what to do, but FAB will probably be shut down tomorrow by the SEC for being a fraud.

    Which is one step above this......

    I'm not telling anyone what to do, but FAB will probably declare BK tomorrow.

    Just as a disclaimer, I'll be covering my short (buying shares) tomorrow.

    Although he forgot to put his disclaimer in there.

    Lbcb...expert on lying, distortion and the word "illegal".

  • Reply to

    traded 990 shares this morning

    by uneducatemeplease Aug 20, 2014 9:42 AM
    joebigbuck joebigbuck Aug 20, 2014 4:08 PM Flag

    I hate Scottrade but there's an office down the street on the way to the mall so my wife insists I keep her day trading money there.
    I'm not quite sure what you are stating, but I had orders in both through Scotttrade and TD to sell near 3 and all the TD orders hit and none of the Scottrade.
    In fact, my TD orders with a limit sold .20 cents HIGHER than the lower limits that I placed on my Scotttrade orders.
    When I called they just said it's OTC stock and there's nothing we can do.
    I hate that company. If I call TD with a problem they fix it immediately and offer me some new golf clubs.

    I get I have chump change at Scotttrade, but still.....

  • Reply to

    Concerns from the 2Q 10-Q

    by gumshoe_waldorf Aug 18, 2014 3:01 PM
    joebigbuck joebigbuck Aug 20, 2014 4:00 PM Flag

    HI Truth,

    Just passing through, but the big picture here is starting become clear. No wonder lbcb covered at the first available moment while encouraging everyone else to sell.

    By claiming the SEC was about to shut down trading he's just one step above those novice idiots that post companies are going to file BK tomorrow so sell now while you can.

    Of course, lbcb didn't recommend anyone sell, he's just stating his opinion FAB was about to be halted again (and go to zero).

    I'm sorry this played out like this. I made a large sum of money playing that the bond shorts would cover in mass causing a short squeeze and was lucky it played out like that. I tried to tell others not to sell when this opened, but what can you do?

    It still upsets me the shorts got to cover on the OTC rather than the NYSE and that FAB not did flood the marketplace with positive PR's before it started trading.

    I benefited from it, but my thinking is always just run with what the market gives you even if others are being hurt from it. Sometimes life if not fair.

    FAB will be fine, I'm just passing through and still hold a large amount of shares...and believe they will stay listed on the NYSE.

  • Reply to

    Concerns from the 2Q 10-Q

    by gumshoe_waldorf Aug 18, 2014 3:01 PM
    joebigbuck joebigbuck Aug 20, 2014 3:51 PM Flag

    " I'm not an attorney, but even I understand that "certain" used in that context means "specific"."

    That's right, you are not....so just stop there.

    But you are an expert on "illegal", so you have that going for you.

    Nice VIE ramblings, been awhile since you posted that rant. I say take it to BIDU, let me know how well it's received over there.

    "Want to know why? They are protecting THEMSELVES from future lawsuits. The lawsuits require that FAB is trading on an "efficient marketplace".

    Oh, stop it. FAB just spent about a million dollars trying to stay listed on the NYSE. They are hoping this plays out over the next few days/weeks. If they get booted and they don't move then you have a point.

  • Reply to

    Concerns from the 2Q 10-Q

    by gumshoe_waldorf Aug 18, 2014 3:01 PM
    joebigbuck joebigbuck Aug 20, 2014 3:45 PM Flag

    "Not quite, assuming he owns a greater percentage of Jingcaigou than FAB Universal, he'd be stealing from himself AND FABU shareholders and giving to himself."

    Well, Zhang owns about 80% of FAB...according to the docs I read he owned about 2/3's of the companies that came together to form FAB, so it's a stretch to say he's swiping money from one to put into the other one.

    It's also a big stretch to say stealing a few bucks is his goal. It's a few thousand dollars, he's playing a game that could net him 100's of millions and you're going to throw out an accusation that he's busy stealing chump change while putting that at risk?

    Not exactly a big picture guy are you?

    Also, FAB is moving into content and working on channel partners. Jingcaigou is about selling things. It's the business FAB is moving away from.

  • Reply to

    Concerns from the 2Q 10-Q

    by gumshoe_waldorf Aug 18, 2014 3:01 PM
    joebigbuck joebigbuck Aug 20, 2014 12:49 AM Flag

    "My guess is that Jingcaigou is likely controlled by Zhang, and (call me a skeptic) that Jingcaigou is probably getting a sweet deal (at the expense of FABU shareholders) at the Joy City location. "

    Since Zhang own a large portion of FAB he's only be stealing from himself.

  • Reply to

    Concerns from the 2Q 10-Q

    by gumshoe_waldorf Aug 18, 2014 3:01 PM
    joebigbuck joebigbuck Aug 20, 2014 12:45 AM Flag

    1) Boilerplate due to the bond. Needs to be in there until the end of 2014. In the end FAB will incorporate the suggestions of the independent review and it will go away.

    2)Zhang knows he messed up taking the bond. FAB nearly was destroyed by it and still may end up getting delisted from the NYSE. He is and will take his medicine. Right now it looks like he's giving up 13M shares. In any event, the BOD is doing what they are supposed to and holding Zhang accountable (not giving him his voting or preferred shares).

    3)No one's eating anyone's lunch and Zhang is not stealing money from himself (if all the preferred shares are converted he owns nearly 80% of FAB). This is what is happening:

    "As the Company is in the transitioning stage of its business model from traditional distribution channels to more diversified digital channels, including digital TV, IPTV, mobile and the internet, we are anticipating a dramatic decline of revenue in wholesale, retail, advertising and membership card going forward."

    Previously FAB was wholesale, retail and Kiosk. At this point it appears they used those as vehicles to come up with the 100M to fund their new business venture....and did not steal if from US investors.

    You're also missing the big point...which is why to invest in Zhang/FAB? He has connections and will soon become the piracy expert for the Chinese gov...if he's not already. So he buys up the content and makes deals with all the major channels (which is happening....BIDU, CHina Unicom, Future TV) and then comes down hard on piracy. Who's left standing and now owns the content cheap?

    FAB.

    Please don't fall for the Carnes Scam.

  • Reply to

    Concerns from the 2Q 10-Q

    by gumshoe_waldorf Aug 18, 2014 3:01 PM
    joebigbuck joebigbuck Aug 20, 2014 12:35 AM Flag

    " We haven't heard a word from Zhang. How come he wouldn't renew the maintenance agreement for the kiosks? How come all kiosks license sales are no longer being recorded as revenue for FAB yet there was still a convention for all the agents two months after sales supposedly ended? It is more likely Zhang is funneling the revenue to other companies he controls and NOT to FAB."

    Actually we haven't head a word out of anyone from the company in over 8 months so Zhang staying quiet is no big deal.

    As for the Kiosk business, I'd say at this point they are moving on.

    "As the Company is in the transitioning stage of its business model from traditional distribution channels to more diversified digital channels, including digital TV, IPTV, mobile and the internet, we are anticipating a dramatic decline of revenue in wholesale, retail, advertising and membership card going forward."

    FAB previously announced they were pulling back the 18M on the retail stores also (which were profitable), so the Kiosk business is just one more pullback.

    Why? Pretty clear they see the future and where the money is. Is a company moving fast in this day and age a bad thing?

    As for funneling money...don't be any more of an idiot than you already are. Zhang is probably going to end up owing 78% of the company if all the preferred shares get converted and around 60% if it works out the way I think. Why steal money from himself? Makes no sense.

    Zhang's fortune is attached to FAB and he has connections. Just because you're an idiot and can't see it is not my fault. Use your brain. He's the anti piracy general in China (or soon will be). It's not in his best interest to make a few bucks (1/3 of 1%) allowing pirated content on his Kiosks. What's in his best interests is shutting down all piracy and FAB owning the legit content on the cheap (he buys the legal content cheap because right now piracy is rampant) then ends up the major player in Chinese entertainment content.

  • Reply to

    Concerns from the 2Q 10-Q

    by gumshoe_waldorf Aug 18, 2014 3:01 PM
    joebigbuck joebigbuck Aug 20, 2014 12:24 AM Flag

    "I am the one who read it correctly and said long ago the right to convert expired. It was CLEARLY stated what the expiration date for this right was in SEC filings."

    Yes you did and I was the one that pointed out you were an idiot and did not know how to read an SEC filing.

    "Then why have they left it open-ended? Why don't they just clearly state in the filings that the preferred share conversions are expired and objectives were not met.?"

    Because they're not......

    "As of June 30, 2014, the Company had 290 Series B Preferred shares issued and outstanding. "

    The thing is...right now it looks like the BOD (who still have voting control of the company) is doing exactly what they are suppose to be doing...protecting shareholders.

    They are not releasing the voting rights giving Zhang control of company and they have not released his preferred shares.

    From my take it looks like they are going to cancel the 13M shares and give him the rest, but that's my take (and are using the CERTAIN and ALL angle to get it done).

    It could be they cancel all the shares or none. But right now that appears to be the BOD is leaning (or why not just leave it alone like they did for all of 2013) that way.

    "No, Joe... it is more likely the BOD told him they will give him the shares once things "blow over" and he is playing the waiting game."

    Well, that's one way to put it. I prefer to think of it as the BOD is doing their fiduciary duty and holding Zhang's feet to the fire.

    But if FAB starts earning two or three dollars a share I'm OK with any interpretation.

  • Reply to

    Concerns from the 2Q 10-Q

    by gumshoe_waldorf Aug 18, 2014 3:01 PM
    joebigbuck joebigbuck Aug 19, 2014 9:32 AM Flag

    "The key is IMMEDIATELY FOLLOWING THE CLOSING. It does not just say consecutive quarters. The corporate governance objectives can NEVER be met now and the preferred shares have expired. Why the ambiguity? Is Zhang ticked?"

    Well, first off nothing has changed and you're still an idiot.

    Learn to read before yapping.

    Even when you post the correct info you still don't understand it.

    210 shares: "upon the successful completion of CERTAIN Corporate Governance Objectives...."

    40 shares: " upon the successful completion of (a) ALL of the Corporate Governance Objectives...."

    40 shares: " upon the successful completion of (a) ALL of the Corporate Governance Objectives..."

    Pretty clear to me how this played out.....Rogers, Spencer and the BOD had a long conversation with
    Zhang and the result was Zhang gave up the right to 13M shares.

    Seems fair to me.

  • joebigbuck joebigbuck Aug 15, 2014 1:46 PM Flag

    It means it's filed but stored away for another day. That means it can be put into play at any time in the future (like if they had positive results from a trail and wanted to do strike while the iron was hot...the share price was up....they could).
    While I'd like the shares price to go lower so I could buy some, it's not a big deal. The CEO has always stated
    they'd need more money for phase 3 trails...if they didn't get a partner or buyout.

FU
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