QTrax Cancel Press Conference. Promises January Launch. Really…They Swear…

Continuing what feels like an unprecedented string of false starts and missed deadlines, ad supported music service Qtrax canceled a Christmas eve press conference. 

image from opinion.latimes.com
What's the excuse this time? Apparently only one person is capable of speaking for the company or honoring its commitments and he was…ill. "Yes, it is true that we intended having a Press Conference today," said a post on the Qtrax blog. "And it’s also true, that in the last week, our CEO, became ill with a generally non-life-threatening but quite painful ailment- kidney stones. And it is also true he was admitted to hospital & thankfully is leaving today. So we’ve decided to cancel the conference".

Instead of apologizing for the cancellation or the fact that it missed another of its own deadlines -  the most recent being a still unrealized "October launch" in China and the Pacific Rim – the company is painting itself as a David against a Goliath comprised of "detractors – some of whom, hide behind curious names on blogs, others are more brazen". (Just in case they mean me, my name is Bruce Houghton and I don't hide that this blog is mine.  Is their CEO named Mr. Qtrax?)

The company says it will finally launch in January: "…we were finally launching in January. Are we? Yes. Have we been wrong before? Humiliatingly, yes. Will be wrong this time? No."

If taking bets on exactly when Qtrax will launch weren't illegal, Hypebot could go ad free in 2010. Then again, who would bet against me?

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  1. the arrogance of this company is unbelievable. Instead of apologizing for missing 8 launch dates in a row, they have the audacity to claim they will be launching in january, with funds committed. They have had funds committed all year, and those funds never manifest themselves. Considering they keep pumping and dumping the stock on fake news (midem launch, global rollout launch) , it is believed that the stock BLLN is just a scam. I don’t think anyone will believe the CEO anymore. He promised he would not set any launch dates until they were set in stone, in other words not until he had the funding to do so. Yet he releases news to the international press of a rollout launch schedule with 8 asian countries, and all of them failed. In the meantime the stock rose to .09 cents, just like at midem. And now it is back to .03 cents. They still have not paid oracle for the 2 million they owe them, and no one will lend the CEO any money because of his tarnished credit rating. There is a growing suspicion that the company has no intention of launching ever. If they were to launch now, and fail, then they could not continue selling the dream, or shares of blln and qtrax. That is why for over 2 years they have been consistently promising to launch, yet never do. Luckily for them, no one will finance this deal. Whenever anyone does a background check on the CEO, they go running for the hills.

  2. WOW, look at Chewy spewing everywhere. Boy does he have a grudge with this company. Fired employee maybe?

  3. just tired of the company lying all the time. Not only is it insulting, it is dangerous to make claims of a launch for investors who buy the stock thinking they are finally launching. But no, Ak and Co have done it again. And created a whole new round of bagholders. Eventually everyone will know these guys are just scammers. I assume you are proud to be part of a scam

  4. In the interest of full disclosure,shouldn’t you mention how as a penny stock daytrader you continually play this stock selling at the highs after praising their work ,then rant on blogs of a scam before selling at the lows,the pot calling the kettle black,Your the scammer “ronnie”

  5. Here we go again. LOL, maybe they’ll have their press conference on the Croissette next to that silver mime outside the Palais.

  6. sorry luckybleu, but you are wrong. In fact I lost a little cash on the baidu run, thought it was for real. I am not a penny stock daytrader, specially not pink sheets. I day trade some otc and nasdaq, but I often hold over night, which excludes me from being a day trader. I know you know very little about trading and investing, and that’s OK. But out of the goodness of my heart I had been trying to educate you. If we had used our strengths together we may have made some cash on that pump and dump run. Also, I told you on the last run that it felt like a trap. I was not pumping the stock, Go back and read my posts, and you will see that you are confused with your allegations. This is all besides the point. Read the article above, and comment on that. Bruce is pointing out the fact that QTrax CEO has blunder yet another launch, with zero apologies to anyone.

  7. Ronnie bowls… I knew it was you!!! You are the disgruntled employee, I KNEW IT! Please stop the charades as a caring investor, trying to help the as you would say, “minions”. Qtrax is real and I’m sorry that it bothers you…real sorry!!

  8. Ya, qtrax is real. Real vapor ware. It’s a real concept, but only on paper so far. I hope you didn’t invest real money, do a little DD, and you’ll see that the lies are real.

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