Very well put. I have a feeling you are right, they are going to be on one hellacious ride to an uncertain future.
Imagine all companies are like FABU, not caring one bit or iota for investors, violating laws, meanwhile running a viable entity. Fortunately that's not the case with other companies. And oh, the lessons learnt, why i even learnt how to pray, every night, to relieve the pain, deep inside. At times, i thought my insides we a being given a Squeeze. Do you know what I mean?
I stand corrected. Spencer is in Florida, doing what exactly no one knows. He's not even close to being a genuine CEO.
If the chinese are "gone," ibcb, what sort of merger is this? Why did FAB need this merger when they acted to become delisted? If FAB needed Wizzard technical expertise don't they owe shareholders something? In any event, they at some point need to accomodate investors going forward, or face consequences.
Wondering how this will shake out. The merger of Wizzard and Fab Universal MIGHT get challenged. Was a legal team involved with the paperwork? The VIE agreement looks highly suspect. Carnes scam or not, there is plenty of smoke around this co.
Spencer appears to actually be living in Pittsburgh, although i don't have specifics. Busshaus also, i came up with his phone number. A consolidated class action has been started in October sometime, do not have any more information. Singapore is where Rogers lives, he loves China, but it's far too polluted to live there, and he wants his girls to speak mandarin because he is a horses #$%$ Southerner with a towering ego and intense need to spin tales. Spencer loves to embellish as well. The company is producing a revenue stream, it has been somewhat audited, but not conclusively. Meanwhile, they may want to avoid public ownership. It's complicated. The players are into sadomasochism and other games. China is a big fat mess; don't be fooled on that one. No government can really run an economy, that's been proven many times.
We would all like to know. The smart kiosks are not so smart. FAB got thrown of the NYSE market in no time flat. Where's the beef, thief?
Sounds good. How do you take your eggs? Coffee w that order?
I think this will continue on. Remember the movie "The Company You Keep? Appropos of this situation, investors are being phased out. Private capital is the new wave for startups. Should be interesting to see what the future holds for FAB. Only problem with bond was the non disclosure. Otherwise it would have passed unnoticed. Heck, the interest rate was around 11%, pretty good rate. Problem: stock goes to zero, how is co. still holding assets? A minor situation in lawless China. What was the total loss for shareholders? That amount is just a tiny blip on the radar.
IBCB, it appears that thuggish behavior is going on with FAB. Shareholders are being thrown under the train, not because this co. Is doing poorly, but more likely to engineer a coup of sorts wherein the private interests regain sole interest. In this case going to the grays is just part of the plan and Spencer and friends are there for the grab. There will be a future FAB, bigger than ever, but private, at least for a while. Don't know why FAB wanted Wizard, but they got in cheap, took us for a ride, and watched in awe and glee.
Got that SEC number?
Ill do it if you will.
Suggested alternative: Special dividend for shareholders of record before the suspension. Lets get more input on what could happen.
I doubt that a China owned co. could be made to do anything, but its worth a try.
thanks for your suggestions. I am not discounting them at all.
Understood, but the stated goals not so long ago to build a media empire is still valid, there are US offices being leased and Jimmy Rogers guiding the motorcycle parade. Are they really buying what they say they are? Further, is the chinese government looking to have all this fallout in addition to the various messes in that country? Lots of questions, few concrete answers.
If anyone out there can answer this, we would like to know. Refer also to the 9/02/13 shareholder report detailing FAB's worldwide asperations. It's a big world out there, only trouble is FABU shareholders are not going to share in the profits. How can that be, and why aren't we given better information? China is in a mess, BTW, probably in on the con going on, along with US officers. Don't agree? We would like to hear your thoughts!
Why don't you move on? Did you even bother Qdog to read the Sept. 2 2013 report put out by FAB? This co. Still has huge aspirations, but not with shareholders of record. Why don't you move on-- it might get hot around here. Who are you reporting to? We want to know.