Some very dodgy items in the quarterly. What does this mean for example:
"with a shortfall amount of $1.026 million due from the underwriter, Quiktrak South Africa (Pty) Ltd, formerly Elderberry Investements111 (Pty) Ltd, a South African domiciled investment company. Due to delays in receiving the shortfall funds from the South African underwriter the shortfall shares were not able to be issued within the required timeframe."
Does this mean the under-written amount will not be received? What does required timeframe mean?
Also 1.18, conversion of borrowings to equity? What does that mean? Why has that been put through as a loss of 1.275mill? Sounds like someone, (MP) has been repayed in shares.
Looking a boit precarious at the moment. A bit shocked actually that they havent been asked to explain how they intend on remaining a viable entity.
QTK
quiktrak networks limited
