Public Updates and Press Releases
PUBLIC UPDATES
02/01/12 - The Company filed documents with FINRA to pay 2ยข per Common Capital Share that is owned by and through Depositry Trust and Clearing Corporation's nominee Cede & Co., pursuant to Shareholder Resolutions on July 12, 2011. The cash distribution declaration date is 02/08/12, record date is 02/15/12, and payment date is 02/17/12.
1/30/12 - The Company's name change to Quantumbit, Inc. and the reverse split of common shares (1 for 6,000) was approved and announced by FINRA on 1/27/12 and implemented by FINRA on 1/30/12.
11/28/11 - The Company filed Amendment to Certificate of Designation 11-14-11 which redeems all remaining Class B Shares with Common Shares and eliminates all issued Class B Shares. The Company filed Restated Articles of Incorporation with Amendments 11-30-11 which changes the Company's name to "Quantumbit, Inc.", reverse splits the Common Shares, authorizes debt obligations with Shareholder's rights, lowers the authorized Common Shares to 2.4B, and eliminates the authorization to issue Class B Shares. The Company filed the reverse split of Common Shares with FINRA on 11-10-11 and the effective date is 11-30-11.
10/04/11 - The Company's Shareholders Resolved on October 4, 2011 to freeze all stock certificate transfers between the announcement date of any cash distribution or dividend payable to Common Shares and the payment date. The Resolution is in keeping with Article VI of the Company's By-Laws which has been effective since inception of the Company. The Shareholders also repeated Resolutions from July 18, 2011 which require the Company to pay any cash distributions or cash dividends to its Common Shareholder ONLY through DTCC, and any Common Shareholder wishing to collect cash distributions or dividends, if any, that are paid to Common Shares by the Company MUST own their shares through a licensed brokerage company and not in certificate form.
The Company has reduced the money owed by QBIT Investment Fund, LP to the Company to ~$69,000. QBIT Investment Fund, LP and its General Partner, NEL Resources, Inc. have agreed to become significant Sponsors of the Company. The Company has abandoned plans to install a lab facility or install quantum control technology at Lakewood Towne Square. The Company has tabled its fusion work with EMF for Life, LLC pending financial execution of its Sponsorship plans and adequate cash resources to proceed productively.
08/15/11 - The Company wishes to clarify a critical point in our Sponsorship program. Sponsors are NOT required to own any number of QBII shares. However, a Sponsor who is owed QBII shares through a brokerage account can collect money in each cash distribution to QBII shares and then pay Sponsorship fees. Thus, more shares owed to Shareholders through brokerage accounts creates more prospective Sponsors for the Company. More Sponsors makes each cash distribution/Sponsorship fee "cycle" more profitable for the Company and allows each Sponsor to be assessed less than the maximum allowed in the Sponsorship Agreement, making each "cycle" more profitable for the Sponsor. Therefore, the Company's Sponsorship program IS NOT designed to curtail, thwart, or inhibit the tendency of brokerages to OWE shares to their customers that the brokerage does not OWN. Rather, the Company wishes to encourage and feed the tendency of brokerages to OWE shares that they do not OWN. Agents for some brokerages have expressed uneasiness with our plans because of uncertainty in the Company's cash distribution plans. Therefore, the Company's Board of Directors has implemented resolutions that sets policy and limits on distributions of cash to QBII shares.
08/09/11 - The Company has begun actively enrolling Sponsors from among its Shareholder Group Members. The Company plans to broaden marketing to Shareholders who are not members of its Shareholder Group that is hosted by Yahoo. Thereafter, the Company will begin general marketing of Sponsorship.
08/02/11 - The Company inquired of its Shareholders a few days ago, through its Yahoo Group, how many QBII shares they owned through brokerage accounts. As of 5:00pm CST today, 21 people have replied who account for 167,067,816 of the 167,049,978 shares currently owned by brokerages through Cede & Co.. The Company has received commitment from the two largest share owners (~134.66M shares combined) through brokerage accounts ("street name Shareholders") to become Sponsors (see Sponsorship Agreement), pending approval from their respective legal counsels. The Company will initiate effort to enroll the remaining 19 respondents as Sponsors following enrollment of these 2 largest street name Shareholders. The Company will market Sponsorship to its remaining street name Shareholders and others thereafter.
07/29/11 - The Company inquired of its Shareholders, through its Yahoo Group, how many QBII shares they owned through brokerage accounts. As of 11:20am CST today, 21 people have replied who account for 165,462,393 of the 167,049,978 shares currently owned by brokerages through Cede & Co.. Recent reports approximated ~325 shareholders through brokerage accounts. The Company's Shareholders resolved relevant items on July 18, 2011. The Company is working to secure Sponsors for its work pursuant to a standard Sponsorship Agreement. Anyone interested in Sponsoring the Company's work should contact our office.
06/29/11 - The Company has engaged Wakabayashi Fund, LLC to assist in entering foreign markets with our securities, products, and story. Wakabayashi will also assist in improving our corporate image, introducing the Company to the institutional, investment fund, and investing communities. Material terms of the engagement will be disclosed in the Company's quarterly filing with OTC Markets, LLC.
06/17/11 - The Company acquired its non-exclusive commercial rights from EMF for Life, LLC. The Company is obligated to proved funds to develop commercial applications of the prototype device. The Company believes that useful products based on this work will be available for sale later this year. This is a follow-up to our prior release, "Quantum Bit Is Creating Fusion Power Device From Its Working Prototype".
06/17/11 - QBIT Investment Fund, LP remains confident in its ability to deliver the funding described in our release, "Quantum Bit Introduces New Details of Funding Structure; Over $4 Million Promised for 2011". We remain hopeful and confident in QBIT Investment Fund's ability to perform.
06/17/11 - We have not installed our proprietary quantum controlled sales amplifier at Lakewood Towne Square shopping center as yet. The continuing debate with the property manager regarding our lab facility has forestalled the installation. As with the lab, we hope to resolve the situation soon. This is a follow-up to our prior release, "Quantum Bit Installing Quantum Controlled Sales Amplifier".
06/17/11 - Our Lab Facility in Houston Texas has not begun operations due to concerns from the property manager regarding potential hazards to the property and other tenants resulting from our work. We continue pursuit of our work through other facilities and hope to resolve the situation with the Houston landlord soon. This is a follow-up to our prior release, "Quantum Bit Induction to Establish New Lab Facility".
06/17/11 - The release, "Quantum Bit Induction Technology Partners to Complete Share Conversion Dropping Outstanding Shares by 98%" stated the shares involved in the conversion properly. The release title inaccurately stated the percentage to be 98% when the correct percentage was 97%.
PRESS RELEASES
07/15/11 Quantum Bit Submits Important Resolutions To Its Stockholders For Vote
07/11/11 Quantum Bit Engages Wakabayashi & Posts Recent Releases
07/10/11 Quantum Bit - Reality Bender Email
07/08/11 Quantum Bit - Experience with Reality Bender
07/06/11 Quantum Bit Introduction to Reality Bender
05/13/11 Quantum Bit Invites Potential Shareholders to Online Forum
05/12/11 Quantum Bit Is Creating Fusion Power Device From Its Working Prototype
03/25/11 Quantum Bit Announces Commercial Applications of Wireless Power Transmission Technology
03/24/11 Quantum Bit Announces Commercial Plans for Fusion Technology
03/23/11 In Response to Rising Gas Prices Quantum Bit Enters the Search for Alternative Fuels
01/27/11 Quantum Bit Introduces Applications of Quantum Control
01/25/11 Quantum Bit Introduces Applications of Negative Group Delay
01/24/11 Quantum Bit Introduces New Details of Funding Structure; Over $4 Million Promised for 2011
01/11/11 Quantum Bit Installing Quantum Controlled Sales Amplifier
12/17/10 Quantum Bit Partners to Complete Share Conversion Dropping Outstanding Shares by 98%
12/15/10 Quantum Bit to Establish New Lab Facility
09/13/10 Quantum Bit Lists on OTC Pink Sheets
02/01/12 - The Company filed documents with FINRA to pay 2ยข per Common Capital Share that is owned by and through Depositry Trust and Clearing Corporation's nominee Cede & Co., pursuant to Shareholder Resolutions on July 12, 2011. The cash distribution declaration date is 02/08/12, record date is 02/15/12, and payment date is 02/17/12.
1/30/12 - The Company's name change to Quantumbit, Inc. and the reverse split of common shares (1 for 6,000) was approved and announced by FINRA on 1/27/12 and implemented by FINRA on 1/30/12.
11/28/11 - The Company filed Amendment to Certificate of Designation 11-14-11 which redeems all remaining Class B Shares with Common Shares and eliminates all issued Class B Shares. The Company filed Restated Articles of Incorporation with Amendments 11-30-11 which changes the Company's name to "Quantumbit, Inc.", reverse splits the Common Shares, authorizes debt obligations with Shareholder's rights, lowers the authorized Common Shares to 2.4B, and eliminates the authorization to issue Class B Shares. The Company filed the reverse split of Common Shares with FINRA on 11-10-11 and the effective date is 11-30-11.
10/04/11 - The Company's Shareholders Resolved on October 4, 2011 to freeze all stock certificate transfers between the announcement date of any cash distribution or dividend payable to Common Shares and the payment date. The Resolution is in keeping with Article VI of the Company's By-Laws which has been effective since inception of the Company. The Shareholders also repeated Resolutions from July 18, 2011 which require the Company to pay any cash distributions or cash dividends to its Common Shareholder ONLY through DTCC, and any Common Shareholder wishing to collect cash distributions or dividends, if any, that are paid to Common Shares by the Company MUST own their shares through a licensed brokerage company and not in certificate form.
The Company has reduced the money owed by QBIT Investment Fund, LP to the Company to ~$69,000. QBIT Investment Fund, LP and its General Partner, NEL Resources, Inc. have agreed to become significant Sponsors of the Company. The Company has abandoned plans to install a lab facility or install quantum control technology at Lakewood Towne Square. The Company has tabled its fusion work with EMF for Life, LLC pending financial execution of its Sponsorship plans and adequate cash resources to proceed productively.
08/15/11 - The Company wishes to clarify a critical point in our Sponsorship program. Sponsors are NOT required to own any number of QBII shares. However, a Sponsor who is owed QBII shares through a brokerage account can collect money in each cash distribution to QBII shares and then pay Sponsorship fees. Thus, more shares owed to Shareholders through brokerage accounts creates more prospective Sponsors for the Company. More Sponsors makes each cash distribution/Sponsorship fee "cycle" more profitable for the Company and allows each Sponsor to be assessed less than the maximum allowed in the Sponsorship Agreement, making each "cycle" more profitable for the Sponsor. Therefore, the Company's Sponsorship program IS NOT designed to curtail, thwart, or inhibit the tendency of brokerages to OWE shares to their customers that the brokerage does not OWN. Rather, the Company wishes to encourage and feed the tendency of brokerages to OWE shares that they do not OWN. Agents for some brokerages have expressed uneasiness with our plans because of uncertainty in the Company's cash distribution plans. Therefore, the Company's Board of Directors has implemented resolutions that sets policy and limits on distributions of cash to QBII shares.
08/09/11 - The Company has begun actively enrolling Sponsors from among its Shareholder Group Members. The Company plans to broaden marketing to Shareholders who are not members of its Shareholder Group that is hosted by Yahoo. Thereafter, the Company will begin general marketing of Sponsorship.
08/02/11 - The Company inquired of its Shareholders a few days ago, through its Yahoo Group, how many QBII shares they owned through brokerage accounts. As of 5:00pm CST today, 21 people have replied who account for 167,067,816 of the 167,049,978 shares currently owned by brokerages through Cede & Co.. The Company has received commitment from the two largest share owners (~134.66M shares combined) through brokerage accounts ("street name Shareholders") to become Sponsors (see Sponsorship Agreement), pending approval from their respective legal counsels. The Company will initiate effort to enroll the remaining 19 respondents as Sponsors following enrollment of these 2 largest street name Shareholders. The Company will market Sponsorship to its remaining street name Shareholders and others thereafter.
07/29/11 - The Company inquired of its Shareholders, through its Yahoo Group, how many QBII shares they owned through brokerage accounts. As of 11:20am CST today, 21 people have replied who account for 165,462,393 of the 167,049,978 shares currently owned by brokerages through Cede & Co.. Recent reports approximated ~325 shareholders through brokerage accounts. The Company's Shareholders resolved relevant items on July 18, 2011. The Company is working to secure Sponsors for its work pursuant to a standard Sponsorship Agreement. Anyone interested in Sponsoring the Company's work should contact our office.
06/29/11 - The Company has engaged Wakabayashi Fund, LLC to assist in entering foreign markets with our securities, products, and story. Wakabayashi will also assist in improving our corporate image, introducing the Company to the institutional, investment fund, and investing communities. Material terms of the engagement will be disclosed in the Company's quarterly filing with OTC Markets, LLC.
06/17/11 - The Company acquired its non-exclusive commercial rights from EMF for Life, LLC. The Company is obligated to proved funds to develop commercial applications of the prototype device. The Company believes that useful products based on this work will be available for sale later this year. This is a follow-up to our prior release, "Quantum Bit Is Creating Fusion Power Device From Its Working Prototype".
06/17/11 - QBIT Investment Fund, LP remains confident in its ability to deliver the funding described in our release, "Quantum Bit Introduces New Details of Funding Structure; Over $4 Million Promised for 2011". We remain hopeful and confident in QBIT Investment Fund's ability to perform.
06/17/11 - We have not installed our proprietary quantum controlled sales amplifier at Lakewood Towne Square shopping center as yet. The continuing debate with the property manager regarding our lab facility has forestalled the installation. As with the lab, we hope to resolve the situation soon. This is a follow-up to our prior release, "Quantum Bit Installing Quantum Controlled Sales Amplifier".
06/17/11 - Our Lab Facility in Houston Texas has not begun operations due to concerns from the property manager regarding potential hazards to the property and other tenants resulting from our work. We continue pursuit of our work through other facilities and hope to resolve the situation with the Houston landlord soon. This is a follow-up to our prior release, "Quantum Bit Induction to Establish New Lab Facility".
06/17/11 - The release, "Quantum Bit Induction Technology Partners to Complete Share Conversion Dropping Outstanding Shares by 98%" stated the shares involved in the conversion properly. The release title inaccurately stated the percentage to be 98% when the correct percentage was 97%.
PRESS RELEASES
07/15/11 Quantum Bit Submits Important Resolutions To Its Stockholders For Vote
07/11/11 Quantum Bit Engages Wakabayashi & Posts Recent Releases
07/10/11 Quantum Bit - Reality Bender Email
07/08/11 Quantum Bit - Experience with Reality Bender
07/06/11 Quantum Bit Introduction to Reality Bender
05/13/11 Quantum Bit Invites Potential Shareholders to Online Forum
05/12/11 Quantum Bit Is Creating Fusion Power Device From Its Working Prototype
03/25/11 Quantum Bit Announces Commercial Applications of Wireless Power Transmission Technology
03/24/11 Quantum Bit Announces Commercial Plans for Fusion Technology
03/23/11 In Response to Rising Gas Prices Quantum Bit Enters the Search for Alternative Fuels
01/27/11 Quantum Bit Introduces Applications of Quantum Control
01/25/11 Quantum Bit Introduces Applications of Negative Group Delay
01/24/11 Quantum Bit Introduces New Details of Funding Structure; Over $4 Million Promised for 2011
01/11/11 Quantum Bit Installing Quantum Controlled Sales Amplifier
12/17/10 Quantum Bit Partners to Complete Share Conversion Dropping Outstanding Shares by 98%
12/15/10 Quantum Bit to Establish New Lab Facility
09/13/10 Quantum Bit Lists on OTC Pink Sheets
Quantumbit, Inc.
11152 Westheimer #118
Houston, Texas 77042
qbitoffice@quantumbit.com
11152 Westheimer #118
Houston, Texas 77042
qbitoffice@quantumbit.com