Market Cap. Because the market cap has plummeted to new lows...

Market Cap.

Because the market cap has plummeted to new lows from what it was just two years ago which even then was just nano cap size, the recent attempts to raise more cash were miserable failures, capped off by the embarrassing passing of a tin hat around subscribers, final sign of desperation and one which also failed miserably.

QFX is out of options to raise more funds. Creditors wont lend a dime given they have been a financial basket case for years with zero real fixed assets, market has finally realised it's a lost cause and comprehensively rebuffed the last attempted CRs.

The SP and MC are so low that even La Jolla can't play their convertible notes shell game, last resort would be consolidation and then try again for another CR while that would all but completely destroy existing investors equity in the company it would still fail as badly as the last attempt given how fundamentally and financially weak the company is today and getting worse by the month.

Also unlike a small mining company or O&G company they can't just consolidate the registry, rename and reinvent themselves at a small cost to try and hide from their past.

Only hope for holders is sell while they still can as the only thing QFX script is good for now is a loss against future capital gains, once this circus finally ends and the company goes into suspension and finally liquidation holders wont have any means to sell on market and therefore unable to claim a loss unless they want to try their luck a few years down the track in the courts, which of course would be a long drawn out hopeless action.

"Also unlike a small mining company or O&G company they can't just rename and reinvent themselves at a small cost to try and hide from their past."

Actually correction, they could and wouldn't put it past Langsford in doing so.

Plenty examples of ASX penny dreadful companies once completely failed having switched industries after a consolidation and name change from IT to Mining or to O&G or what ever else is trending at the moment so that directors can stay at the trough of borrowing money from investors to continue paying their exorbitant salaries as long as possible.

These kind of companies are easily identifiable as they are always spinning the usual empty promises about how they are investigating new opportunities or in discussions with other parties or about to start exploring in Mongolia or some other obscure global location any year now.

Companies like this should be banned from ASX and the directors black listed. There needs to be more stringent requirements,regulation for companies to maintain a listing. As unfortuantely there are always new uneducated punters at the casino for them to feed off thinking they will get rich quick.



Kat.