Post by Sara on Jan 4, 2011 0:50:32 GMT -5
The answer is not good. I hate to see him fail at anything, but I'm secretly hoping for obvious reasons.
credit: www.klqwrestling.com/2011/01/update-on-shane-mcmahon.html
It has been a year since Shane McMahon's resignation became official from WWE and four months since he was appointed Chairman of the Board and CEO of China Broadband, Inc., a provider of cable broadband services and publisher of digital and analog program guides in the Shandong Province of China.
Shane was named CEO of China Broadband after becoming a "strategic investor" in a private placement financing deal in May 2010. This was after he made a trip to Abu Dhabi in March 2010 to attend a media summit where potential media investors meet to talk business. Shane was quoted in The National newspaper as saying, "You have to go where the money is." The deal was finalized and made public in August 2010. Since that time the company has undergone several changes. How is Shane's company doing? Here are some updates:
From the Quarterly Financial Report November 22, 2010:
The Company has incurred significant continuing losses during 2010 and has relied on debt and equity financings to fund operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company believes that the acquisition of Sinotop and the 2011 launch of its VOD/PPV business will generate cash for the business.
The unaudited consolidated financial statements have been prepared assuming that the Company will continue as a going concern and, accordingly, do not include any adjustments that might result from the outcome of this uncertainty. The Company's independent registered public accounting firm's report of the financial statements for the year ended December 31, 2009, contained an explanatory paragraph regarding the Company's ability to continue as a going concern. Definition of "Going Concern" - The idea that a company will continue to operate indefinitely, and will not go out of business and liquidate its assets. For this to happen, the company must be able to generate and/or raise enough resources to stay operational. - www.investorwords.com
China Broadband, Inc. announced several board and management changes including the resignation of Clive Ng as Senior Executive and Co-Chairman of the board, and the resignation of Jonas Grossman and David Zale from the board of directors, effective immediately. Following such resignations, Marc Urbach and Steven Oliveira were appointed to the company's board of directors. - press release November 29, 2010
China Broadband, Inc. (OTC:CBBD) increased 0.00%, currently trading at $0.0400 and its overall traded volume was 0.00 shares while reporting, against its average volume of 478,935.00. CBBD opened the day at $0.04, it made an intraday low of $0.04 and an intraday high of $0.04. The stock has a 52 week low of $0.03 and 52 week high of $0.30. CBBD's market capitalization is 26.43M and it has 660.77M outstanding shares. - www.wallstreetbay.com December 30, 2010
Shane was named CEO of China Broadband after becoming a "strategic investor" in a private placement financing deal in May 2010. This was after he made a trip to Abu Dhabi in March 2010 to attend a media summit where potential media investors meet to talk business. Shane was quoted in The National newspaper as saying, "You have to go where the money is." The deal was finalized and made public in August 2010. Since that time the company has undergone several changes. How is Shane's company doing? Here are some updates:
From the Quarterly Financial Report November 22, 2010:
The Company has incurred significant continuing losses during 2010 and has relied on debt and equity financings to fund operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company believes that the acquisition of Sinotop and the 2011 launch of its VOD/PPV business will generate cash for the business.
The unaudited consolidated financial statements have been prepared assuming that the Company will continue as a going concern and, accordingly, do not include any adjustments that might result from the outcome of this uncertainty. The Company's independent registered public accounting firm's report of the financial statements for the year ended December 31, 2009, contained an explanatory paragraph regarding the Company's ability to continue as a going concern. Definition of "Going Concern" - The idea that a company will continue to operate indefinitely, and will not go out of business and liquidate its assets. For this to happen, the company must be able to generate and/or raise enough resources to stay operational. - www.investorwords.com
China Broadband, Inc. announced several board and management changes including the resignation of Clive Ng as Senior Executive and Co-Chairman of the board, and the resignation of Jonas Grossman and David Zale from the board of directors, effective immediately. Following such resignations, Marc Urbach and Steven Oliveira were appointed to the company's board of directors. - press release November 29, 2010
China Broadband, Inc. (OTC:CBBD) increased 0.00%, currently trading at $0.0400 and its overall traded volume was 0.00 shares while reporting, against its average volume of 478,935.00. CBBD opened the day at $0.04, it made an intraday low of $0.04 and an intraday high of $0.04. The stock has a 52 week low of $0.03 and 52 week high of $0.30. CBBD's market capitalization is 26.43M and it has 660.77M outstanding shares. - www.wallstreetbay.com December 30, 2010
credit: www.klqwrestling.com/2011/01/update-on-shane-mcmahon.html
, for the moment anyway.