Mikey, in my opinion the China contract fell through when QTK first announced aggressive plans to set up in South Africa. I commented at the time that it was a warning sign that they had changed their focus.............think about it, if the china deal was "on" why would they divert their attention and risk spreading their capital too thin ?
imho QTK knew they had to get as much money as they could before the market sensed that the China deal was on shaky ground. The hints were there, but only investors that have had this happen to them before are good at reading between the lines. Most listed companies will do anything they can to keep their heads above water, even if it means bending the rules. As an investor you should know this and keep it in mind when reading any announcement.
I think Smuggler sucked a few people in by pretending to have inside information. But clearly he was duped with the rest of the investors. It may not be over for QTK, but they will have a hard time getting finance from any investor or bank.......so imho they will need to pull a rabbit out of a hat to survive.
QTK Price at posting:
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