traded below 90 cents, page-13

re: t/o positioning??? What take-over? Who can and will take-over a company where a death-spiral financier has convertible options to own close to half the company and the rights to demand their money back in the event of a take-over bid.

CMQ has more than $1.8M debt - it owed Stark $60M in the form convertible bonds. The accounts were appalling with hardly any sale receipt. The bond covenants require CMQ to achieve $4M revenue from all sources ending 30 June 06. $4M revenue (NOT JUST SALES) is not going to make any difference to the accounts with a cash burnt rate in excess of $3.1M a month. In the AGM, David Williams indicated CMQ will need to raise further capital in 2006.

There is no reason to argue with the market, is there?