re : buyers building, page-3

We will soon find out how the $4M revenue covenant was satisfied on paper as the Appendix 4C showed total credit of only $3M. You just have to wonder why CMQ did not announce this on 30 June but delayed it for a week since this was only a 'paper satisfaction'.

Newsletter will be nothing but the same polished bull$hit about pending approvals, great market strategies and what have you not. Why would anyone think new approvals will bring new sales when it is PROVEN that CMQ having 100% approval for pigs and 100% approval for Chooks in South Africa have not bring in sales receipts notwithstanding CMQ boasting of the dream of capturing 25% of the market and CMQ positioning container loads in Inviro's post box without receiving sale receipts.

Anyone suggesting a guilty plea to non-continuous disclosure in court is a good result speaks volume. Shame on the directors who failed in their duties to shareholders and worst still the then executive chairman who underwrote the rights issue for which he nows plead guilty for not disclosing relevant information.

If support level fails at 35 cents and then 30 cents it could be the begining of a free fall.

In short CMQ :-
1)Please explain which set of accounts is wrong - the May 31 or the June 30? Is there any excuse for the company to release conflicting accounts?
2) Please explain how CMQ lawyers told the court CMQ showed remorse (compare to Mr Williams' ASX statement) and no CMQ directors benefited when Mr Melrose underwrote the rights option.
3)Please explain why the $1.4M sale to SA is not reflected in the accounts when CMQ told shareholders the sale is unconditional, not financed by CMQ and did not reflect end-clients commitments?
4)Please explain why there are no new sale contracts from distributors even when CMQ seemed to have offered the most generous trading terms (sending goods to distributors with no sight of payments even after more 6 months).

Is this the board of directors that investors love and trust to bring home the bacon?

Cheers.