why?, page-29

re: imorge. If the contract is anywhere near $380 mill how could it not be profitable? At the end of the last quarter QTK only had $800k in cash yet all of a sudden they are quoted as saying they are "in no urgent need of capital".

I have been guaranteed by a member of the QTK management team that they are receiving revenue and last month 100000 transponders were shipped to China. I think it is therefore logical that QTK have received payment for these items and cashflow is being received from the Beijing deal. This point really needs to be confirmed by the company.

As for Thorney pulling out I am increasingly seeing this as a matter of principal! Pallister screwed up not disclosing the legal action against him, surely that would peeve any large investor - up until that Thorney had completed due diligence on QTK and were only too happy to proceed. IMO this has a better than average chance of going great guns.