Why was MLON shut down so fast, but QBID continues after 6 years?
QBID appeared to be buying a stock press release here
Almost verbatim
biz.yahoo.com
biz.yahoo.com
Press Release Source: Triangle Multi-Media Limited, Inc.
Frank Olsen of Triangle Multi-Media Limited, Inc. States: There is No Business or Economic Reason for the Current Share Value Decline.
Monday July 12, 6:00 am ET
PALM SPRINGS, Calif.--(BUSINESS WIRE)--July 12, 2004--Frank Olsen, CEO of Triangle Multi-Media Limited, Inc., (QBID OTC Pink sheets) responding to inquiries by shareholders, advised today that management of the Company knows of no valid business or economic reason for the recent decline in the per share price of the Company's common stock.
ADVERTISEMENT
Olsen went on to say, "All markets suffer from volatility, and this is especially true on the Pink Sheets. Our stock has had a long steady climb over the last six months with a number of peaks and valleys in between. As most of our investors are aware, Triangle management believes it has been a long-time target of short sellers, including large volumes of illegal naked short selling, which over the long haul has been a major contributor as a depressant on the price of our shares. However, also over this period, we have announced some of the most significant achievements in our history, and we believe these bear, to a great degree, in the growth of our share value.
"Naked Short Selling" is typical when a wholesale market maker sells shares in the public marketplace that are not held in their inventory, nor are the shares even borrowed from another market maker - and with no intention to obtain the shares or to ever cover the short position. Short sellers sell shares they do not own, but borrow them to protect the transaction and/or eventually cover, or buy in, their short positions. However, with the naked short selling tactics being made against stock, proper procedures are not occurring and thus have resulted in a greatly enlarged, and artificial, public 'float' which subsequently undervalues the quoted price of our stock. This practice is illegal and violates SEC and NASD rules, as well as other state and federal statutes."
"It was our expectation that our problems with the short sellers would be reduced, and eventually eliminated, when the SEC and NASD issued new rules and regulations to block illegal activities within short selling. It would appear, however, that as of yet these rules have not been effective, because the short abuses have not stopped. As a matter of fact, it appears in some respect they have only gotten worse. For the past two weeks market makers who appear to be most exposed by the short positions in Triangle stock have extended their illegal activities to selectively excluding the processing of large purchase orders for our stock. We are currently reviewing with legal counsel the steps we can take to deal with these latest activities."
Olsen commented, "This illegal activity is making it significantly more costly for Triangle to raise needed working capital, and has quite literally stolen millions of dollars from our market capitalization while the company has made numerous positive accomplishments. Accordingly, we have engaged forensic auditors, and outside legal counsel in Los Angeles familiar with the backroom workings of brokerage firms, to immediately investigate these short selling activities. In addition, we are tracking the trading activity in our stock, by day, by transaction, and by broker; and we are tracking the short positions by broker. Furthermore, a coalition of companies is considering other alternatives to aggressively combat this illegal activity."
Olsen concluded, "We have worked too hard to get our Company to where it is today to allow these illegal activities to interfere with funding opportunities and with the market capitalization of Triangle Multi-Media Limited, Inc., and to undermine the ability to enjoy fair market value for QBID stock."
Olsen continued, "By way of review, I would like to reiterate some of the major accomplishments that we have communicated to the financial community over the past two months. These include:
1. Our recent negotiations with major cable companies are in the final
stages and we expect to make an announcement within a short time.
We are acquiring programming at a fast pace and have opened up new
avenues of programming acquisition.
2. Our sales and marketing efforts are reality. We have opened an
office in New York City and now have sales representation in the
major advertising center in the US. Advertiser sales have begun
and response to date has been extremely encouraging.
3. Funding - Regarding additional funding, the Company has one firm
offer and several pending offers. Senior management visited New
York two weeks ago to explore several additional alternatives
About Q Television Network
This television network was organized to create and develop a network devoted to providing television programming for the gay and lesbian community. While the company expects much of its subscriber base to be comprised of members of the gay and lesbian population, management also believes that quality programming about the gay and lesbian experience, designed to entertain, educate and inform, will attract many other segments of the viewing public. The company's programming will be available on a subscription basis to those desiring its programming. The network will broadcast 24 hours per day, 7 days per week. Providing distribution via satellite ensures availability of the network across the United States, including Alaska, Hawaii and Puerto Rico.
Safe Harbor Statement
As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the television network's ability to execute its business model and strategic plans; and the risks described from time to time in the company's Securities and Exchange Commission filings.
For more information regarding carriage and advertising opportunities, contact the network at 760-323-4455.
--------------------------------------------------------------------------------
Contact:
Q Television Network, 760-323-44
Press Release Source: Lifeline Biotechnologies, Inc.
Lifeline Biotechnologies States There is No Business or Economic Reason for Recent Share Value Decline
Monday May 10, 9:01 am ET
RENO, Nev.--(BUSINESS WIRE)--May 10, 2004--Jim Holmes, CEO of Lifeline Biotechnologies, Inc., (OTC:LBTT - News) responding to inquiries by shareholders, advised today that management of the Company knows of no valid business or economic reason for the recent decline in the per share price of the Company's common stock.
Holmes went on to say, "All markets suffer from volatility, and this is especially true on the Pink Sheets. Our stock has had a long steady climb over the past year with a number of peaks and valleys in between. As most of our investors are aware, Lifeline has been a long time target of short sellers, including large volumes of illegal naked short selling, which over the long haul has been a major contributor as a depressant on the price of our shares. However, also over this period, we have announced some of the most significant achievements in our history, and we believe these bear, to a great degree, in the growth of our share value.
"It was our expectation that our problems with the short sellers would be reduced, and eventually eliminated, when the SEC and NASD issued new rules and regulations to block illegal activities within short selling. It would appear, however, that as of yet these rules have not been effective, because the short abuses have not stopped. As a matter of fact, it appears in some respect they have only gotten worse. For the past three weeks market makers who appear to be most exposed by the short positions in Lifeline stock have extended their illegal activities to selectively excluding the processing of large purchase orders for our stock. We are currently reviewing with legal counsel the steps we can take to deal with these latest activities."
Holmes continued, "By way of review, I would like to reiterate some the major accomplishments that we have communicated to the financial community over the past six months. These include:
1. Our recent R&D accomplishments for our First Warning System(TM) which assists in the early detection of breast cancer. Specifically, Dr. Reeves' discovery that different breast lesions appear to have their own specific chaotic wave forms which have never been seen before. These findings will be the subject of a lecture Dr. Reeves has been asked to give at the upcoming International Conference on Cancer and Rhythm this fall.
"Dr. Louis Keith, the company's medical director, is also an invited speaker to the conference.
"Dr. Reeves has had several clinical papers accepted for publication concerning various critical phases of cancer development that raise several questions about present day detection of breast cancer. The company has prepared several patent applications to protect these new discoveries.
2. Our sales and marketing efforts are reality. We have had two major sales training seminars and now have sales representation in most major medical markets in the US. US product sales orders have been received and shipments have begun.
"As a result of our recent introduction of our MastaScope(TM) at the European Breast Cancer Conference in Hamburg, our International Director of Marketing and Sales, Carlo Micheleti, is attending a special meeting of the Egyptian National Cancer Institute this week to present Lifeline's MastaScope(TM) technology and products. In June he will attend a conference in Croatia and expects several orders. In July, Carlo will attend the InterAmerican Breast Conference in Cancun.
"Further, as a result of attending the Breast Surgeon's Conference in Las Vegas last month, US shipments of MastaScopes(TM) have begun.
"We expect to meet our sales goals and be running at an annual rate of $5 million by the end of this year. This rate of sales could be at a profitable level.
3. Funding - Regarding additional funding, the Company has one firm offer and several pending offers. Senior management will be in New York this week to explore several additional alternative sources.
4. The financial audit is underway and should conclude in June. Following the completion of the audit, management anticipates a filing with the SEC. Once the filing is cleared by the SEC, management expects to apply for a listing on the OTC-BB.
"Though all of the risks are not behind us, our Company is stronger right now than we have ever been. We believe what you are seeing in our share price is a last ditch and desperate attempt by the short sellers to convince our investors that they will win and the company will lose.
"Believe me, they are wrong. We are winning: The signs are all around us. We have struggled for a long time and the results of our efforts are coming to fruition. We will win and the shorts will lose."
Lifeline's website address: www.lbti.com
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, when used in the preceding discussion, the words "believe," "expects," "projects," "forecasts," "intends," "will," "anticipated," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and subject to the safe harbor created by the Act. All statements contained in the foregoing are forward-looking statements that may involve risks and uncertainties.
--------------------------------------------------------------------------------
Contact:
Lifeline Biotechnologies
Jim Holmes, 775-324-1933
jholmes@lbti.com
or
Stock Enterprises (Investor Relations)
Jim Stock, 866-242-2405
stockenter@aol.com |
