independent audit on qtk detrimental

Did anyone read page 19 of the QTK report.

In independent audit on the QTK business by PKF reports:

"The ability of Quiktrak Networks to continue is a going concern and heavily dependent on South Africa operations and the ability to raise for funding.........and casts significant doubt about Quiktrak ability to continue as a business"

Now it has been spelt out in this report which is legally required by law to be announced to the market.

Anyone holding or buying is risking everything they have on this company.

QTK had to get this report done by law. The truth had be told. These numbers, results and this serious concern from the independent auditor has now exposed what we all knew.

China is no longer. The business needs more money to survive and pay directors and non directors $250,000 a year.

The last time they tried to raise money, they wanted 3 million dollars, they could only get 1.5 million and if Mark Pallister did not put in the other 1.5 million...they would not have been able to soak up the 1.5 million from shares put out there for 12 cents......and then QTK hits 5 cents shortly after they raise this money.

I am very happy that the truth has come out. Its been a long 2 years watching QTK side track all of the market regarding the $380 million dollar contract with China....but now we have the truth as they were legally forced to tell it.

The independent auditors report has just shown the whole market what we knew...."if they don’t raise more money...they sink and cannot continue as a business".

Well done for all those who sold out a while back.

For those still holding and hoping....I hope you learnt a very good lesson here....from the company and from posters on hotcopper and how detrimental it can be to your finances to believe the concocted stories over the past 2 years.