i guess this announcement at least gives holders some hope.but...

i guess this announcement at least gives holders some hope.

but they are going to have to sell a lot more product than $1 million to dig themselves out of this hole in the longer run. bell potter noteholders are owed $5.5 million and that falls due in september 08, quiktrak also owe MP $2 million - i doubt he will forgive that loan.

so $7.5 million in debt and still burning cash as per the last quarterly. zyl announced $1.7 million in sales in the september quarter and they are capped at between 1/2 and 1/3rd that of QTK and have no debt! so pretty hard to stake a claim that QTK are good value by any means. still it is a start.