AND HE DESERVES TO BE WORRIED, AS WHO'S READING HIS BS?"3....

AND HE DESERVES TO BE WORRIED, AS WHO'S READING HIS BS?

"3. ...................... many shareholders want us to only come out with a large contract amount. ....."

Should read: "For more than 2 1/2 years MD John Genner has been communicating to many shareholders that announcements regarding large contract amounts are imminent." ! I have 3 witnesses to one such occasion.

Monoco was originally a done deal to be announced by end March 2004 with $150m over 2 years straight to BQT's bottom line. The "consensus" (read non-binding Heads of Agreement) announced in June 2005 could only indicate $9.5M + a further $32M. At that time John Genner told several shareholders that the final deal would be in "days not weeks" then several weeks later it was to be "weeks not months" & in this correspondent's last conversation I was told "if not before Xmas (2005) then just after"!

Within the logical constraints outlined I also believe it reasonable that shareholders be informed of the total known & expected pipelines over a given timeframe just as they now have done by clarifying the recent $2.4M middle east deal timeframe to be 20 months.

More importantly the company's Management Board have demonstrated TOTAL INCOMPETENCE in conduct of capital raising & communication with the investment community. At the AGM the MD admitted only ever making " about 4 broker presentations"!