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FAB Universal Corp. Common Stoc Message Board

vvrm 13 posts  |  Last Activity: Jul 17, 2014 3:33 PM Member since: Oct 31, 2013
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  • Reply to

    Timelines for Fab meeting with NYSE MLQP

    by vvrm Jul 16, 2014 12:12 PM
    vvrm vvrm Jul 17, 2014 3:33 PM Flag

    Can I get some Due Diligence based data about companies that appeared before NYSE MLQP and the timelines ? The intent of this thread was to provide some data for shareholders as to when they could see trading resume (either on NYSE or OTC). joebigbuck/truthwantsout/apple: Any tickers you know with such timelines ?

    Sentiment: Hold

  • I was browsing to find what the typical next steps would be once Fab meets NYSE Mkt Listing Qualifications Panel today. In 2013, GeoPetro underwent the same process. Appeal hearing help June 13 2013, June 21 - Company receives written notification regarding results. Possible action could include rescind delisting proceedings, defer further action or go ahead with delising. Does anybody know more specifics ? Google "GeoPetro Receives Written Notification Regarding the Results of Its Appeal Hearing With the NYSE MKT LLC" for details.

    Sentiment: Hold

  • Reply to

    NQ website is still down

    by timtrogers75 Jul 12, 2014 4:38 PM
    vvrm vvrm Jul 12, 2014 5:46 PM Flag

    Is this the end of this company as we know ? Wonder what will happen to all the shareholders ? Will there be lawsuits ? Will we get any money from the lawsuits ? Will the management be held accountable ?

  • Reply to

    FAB wonderful group blog

    by hiflyer246 Jul 2, 2014 1:04 PM

    Hiflyer246,

    Can you provide the link for Fab wonderful blog ?

    Sentiment: Hold

  • Reply to

    FAB 63 month lease in LosAngeles

    by hiflyer246 Jun 27, 2014 5:40 PM
    vvrm vvrm Jul 2, 2014 11:22 AM Flag

    Either they are expecting long term legal hassles from the short attacks and hence decided to be close to Loeb and Loeb.. or they need ongoing legal help (arising out of contracts with several movie based businesses in LA) and hence decided to use this address. My take on this.

    Sentiment: Hold

  • Reply to

    FAB 63 month lease in LosAngeles

    by hiflyer246 Jun 27, 2014 5:40 PM
    vvrm vvrm Jul 2, 2014 11:11 AM Flag

    Did folks research this address ? Another business related to FAB is at this address. I will leave it to prying minds to find out what that business is.. Very intriguing FAB decides to rent office space at this location.. right next to "that" business.. For 5 years...

    Sentiment: Hold

  • Reply to

    Comparison between Fab and NQ

    by vvrm Jul 1, 2014 1:15 PM

    "You are good enough to con the fools and delusional that want to believe their money isn't gone, "

    LBCB,
    In your view, by when will we know that the money is actually gone ? Do you think July 16th meeting will be the last nail in the coffin for money of investors like me ? I am looking for a closure on this to be at peace with myself.

    Sentiment: Hold

  • Reply to

    Difference between FAB and NQ 10-Ks

    by lbcb321 Jul 1, 2014 2:32 PM

    Thanks lbcb for pointing out difference between Smaller Reporting Company and accelarated filers.
    If 10K does not contain references to information which is controversial, can that be used as a beating stick by NYSE listing requirements committee on July 16 to argue for delisting FAB ? Or will any corrective action being pursued by FAB be sufficient enough for NYSE to let that issue be addressed ?

    I am trying to highlight which aspects would be argued in favor of delisting by NYSE vs which aspects will be argues by FAB in its favor to rescind delisting and resume trading.

    Sentiment: Hold

  • Reply to

    Comparison between Fab and NQ

    by vvrm Jul 1, 2014 1:15 PM

    Assuming Exec mgmt of FAB goes in with the mindset "FAB NOT wanting to trade", Is it not easy for FAB to skip the July 16 meeting (or not even ask for it in first place) and get delisted automatically (thereby limiting the exposure for lawsuits) ? Why did they ask and get an appointment with NYSE listing requirements team ?

    If I wanted to get thrown out of a class at school, I would skip the school or do misdemeanors enough to attract attention of administration so that they could throw me out on their volition. And once they throw me out, I would not contest their decision.

    Sentiment: Hold

  • I have been actively following both these tickers for last 9+ months. As of today, I see that:
    - NQ is listed and being traded actively in NYSE whereas Fab is NOT being traded and is under the threat of delisting
    - Both Fab and NQ have had short seller allegations to counter in the last 9+ months
    - Both Fab and NQ have instituted investigation on internal procedures being performed by US based law offices
    - Fab has released audited 10K for 2013 whereas NQ has issues provisional results for 2013. NQ is yet to file 10K and is delinquent
    - NQ has released results of independent investigation committee to disprove short seller allegations while Fab is yet to do that
    - NQ 's Ind Audit committee has found short comings in internal controls. And in the official press release of the report, NQ has admitted to work on correct them.
    - Fab has admitted to non-disclosure of Bond offering and lack of internal controls in 10K.

    Why is NQ being allowed to trade when internal controls are a problem in both companies ? Fab filed for 10K and still cannot trade. While NQ has some internal controls missing but being allowed to trade.

  • Reply to

    Different possible scenarios

    by vvrm Jun 30, 2014 10:58 PM
    vvrm vvrm Jun 30, 2014 11:03 PM Flag

    3) After July 16 meeting, NYSE listing requirements team decides that 10K filing in and by itself does not answer majority of questions it has. Hence gives a limited time duration to complete the investigation failing which delisting would continue.
    4) No matter what, NYSE has already made up its mind to delist this ticker and before July 16, we may end up seeing the delisting notice officially published.

    Question to critical thinkers: Which of the above scenarios is likely ? And why ?

  • I have been following joebigbuck, truthwantsout, lbcb and other posters since Nov 2013. I have a pretty good sum invested in this stock which I had written off as unrecoverable until last Friday. After the 10K filing, I am having mixed feelings about that investment.
    Some questions:
    1) It is clear from 10K filing that NYSE halted the trading of this ticker. Why did NYSE halt the trading in Nov 13 ? What are the clarifications NYSE was seeking at that time ?(10K filing cannot be the obvious reason at that time)
    2) On Apr 28 2014, notice of delisting was sent. Per this notice, it seems this ticker was in non-compliance of listing requirements. By filing 10K, did Fab clear the condition of non-compliance ? And is therefore in same state as Apr 27 2014 ? (Continue to be halted pending answers but out of the threat of non-compliance ?)
    3) Will the July 16 meeting be limited to 10K filing and non-compliance, or will NYSE listing requirements team ask for answers to the questions posed in Nov 2013's list of questions ?
    4) If July 16 meeting was solely to satisfy and answer questions from NYSE listing requirements team, would it not be null and void by Fab's act of filing 10K ? In such a case, why did Fab mention the date of the meeting in 10K itself ?
    Have been thinking of various likely scenarios this ticker might end up in:
    1) After July 16 meeting, NYSE listing requirements committee reviews Fab's responses, feels comfortable about 10K filing, is still waiting for answers to original list of questions (pending completion of Internal investigation by Loeb & Loeb/FTI) and grants Fab more time to complete the same.
    2) July 16 meeting does not happen since Fab is in compliance of trading requirements. But NYSE Listing requirements team and Fab exchange communication regarding status of internal investigation and status quo continues w.r.t trading. Fab may end up issuing a press release informing public that it is in compliance now w.r.t listing requirements.

    Sentiment: Hold

  • Reply to

    Friedman LLP Gone As Accounting Firm

    by lbcb321 May 7, 2014 11:10 AM
    vvrm vvrm May 8, 2014 12:00 PM Flag

    Will the delisting threat subside if Fab provides 10K for 2013 ? Or will it go on no matter what KCCW does to file 10K ?

FU
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