Qtrax cheating?

Original author: Erick Schonfeld
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Where they just did not write about it, so I will not take much of your time. But if at the very beginning a million dollars is invested in the project, thanks to which Internet users can have free access to the catalog of 25 million songs, then for this it is necessary to coordinate all their actions with those record companies with which cooperation is planned.

The project, which can already be called the most meaningless project of the year, suggested that this weekend a service for free downloading songs from the Qtrax website will begin to work. The whole point is that before that Qtrax did not even sign the relevant agreements with 3 of the 4 largest music labels. Now the music companies are saying, “Wait a minute, but no agreement!” Everything is under negotiation. ” Of course, without contracts there is no download service.

We write about these events like many other blogs and media. The story that the possibility of free downloading songs paid for by advertising, very excited our author Michael Arrington (Michael Arrington). He quickly wrote an article on this subject while he was waiting for his flight at the airport, returning from the Davos forum to the United States. The Times of London and many others also covered the news, perhaps because the Qtrax CEO during a conference in Cannes announced that labels had been signed. This is either a trick or a hoax. It's one thing to splurge, another is to lie openly.

Qtrax is a subsidiary of Brilliant Technologies Corporation, a trader in stock trading. Since May last year, Qtrax did not provide Form 10Q to the Securities Commission (a brief summary of the company's activity over the past quarter) and raised $ 30 million for the project. And they should carefully consider their next step.

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