is mp the problem with qtk

just wanted to throw this question up for debate....

prior to asic charging MP with fraud in november 2005, qtk were powering ahead, the market cap was approaching $200 million, they had just announced a blockbuster contract in china, richard pratt's investment arm - thorney holdings were keen to get onboard at 35cps - everything looked like blue sky!!!

then asic struck, thorneys ran for the hills, did the chinese also??? mp has since had all charges dropped but did the mud stick or is it coincidental that qtk's fortunes changed so dramatically around this time?

in an article dated 15/5/2006 investors were again promised blue sky with the release of news that qtk were beginning to target the home security market. it was said that qtk would get 100k transponders out into the australian community within 3-4 years, "Or we have not done our job properly". That was the last the market heard of the home security market as far as i can tell, (http://www.theage.com.au/news/business/news-from-china-puts-quiktrak-back-on-track/2006/05/14/1147545209170.html).

what is the truth behind what went wrong in china? why have we not received updates about progress with the home security rollout in australia? why are revenues failing to increase significantly in the quarterlies? how are qtk going to repay $5.5 million to bell potter noteholders in 7 months time?

the smoke and mirrors game continues.