my friend barry hickman, page-12

The rebirthing of QTK reads as the biggest stunt I am aware of ever occurring with a publically listed company. How there has not been a formal ASX investigation, and a story run on A Current Affair I have no idea.

Firstly MP buys QTK out of Administration for $3 to $4 million, getting the bulk of his stock for a meagre .007cps, then injects another couple of million in there for working capital, then within weeks of relisting in July/August 2005 a blockbuster $380USD million deal in China was announced, shortly followed by an announcement of an extension to the original contract which is estimated to be worth similar to the original announcement!

However in the midst of these two blockbuster announcements the CEO is charged by ASIC of fraud for an unrelated matter but the company insist that those charges bear no relevance to QTK.

However from mid December 2005 QTK fall into a saveage and lasting downtrend which with the exception of 1-2 brief minor spikes has remained to the current day.

I would love to see proof that the China contract ever existed. Seriously, how do we know that ASX announcement re China, which resulted in many of us investing significant amounts of $$$, was ever anything more than a childrens bedtime story. Even the worst case scenario as outlined in the Vantage analysis report of 100k transponders for the first two years of the contract has failed to come to fruition. AND that was the WORST case scenario. AND to this day the company have refused to admit that the deal has fallen through, despite their partner China Alarm Holdings investign heavily in another tracking company listed on ASX - SMA!

I seriously doubt there was ever a contract with CAH. IMHO it reads much more like it was just a MOU with no guarantees made at all. I dont think my comments are unfair, we simply have seen no proof to the contrary. If there is another story to rival this amongst companies listed on ASX, then i am unaware of it.

I feel sorry for all holders, including Barry Hickman. What i dont understand is why Barry continues to blame hotcopper posters for the companies flagging fortunes and not direct his frustrations towards management for failing to deliver on the announcements.