ann: deployment of 3g network, page-34

re: question Refer to this posting:


Subject totally false statement
Posted 17/12/05 - 271 reads
Posted by texas5qld
Post #833876 - in reply to msg. 833718
ASX Code QTK - QUIKTRAK NETWORKS LIMITED


###Pallister simply transferred 30million shares from Blazzed (his company) into Mobilarm (his company) for $2m in cash.
Its simply a in house transaction to avoid all the money he is going to make.###

Mark Pallister HAS sold 30 million of HIS shares to a consortium of seven buyers for the price of 6.6c for the total of $2 million dollars..............I repeat, Pallister no longer holds these shares, and Blazzed is NOT one of his companies.

The sale of the shares is conditional.....one of the conditions is Pallister MUST buy the 11.4 million shares (previously offered to Thornley) for $4 million dollars.

The holders of the 30 million shares must pay 6.6c a share, and may dipose of them at ANY price after 9 months.

Mark Pallister is NOT the owner of Blazzed, and he has sold 30 million of his own shares (Mobilarm) to fund part of the $4 million purchase.

To add insult to injury QTK has issued a further 13 million shares at 30c with the option to issue another 13 million at 35c..................why would they do this when a share price of $1 is in the bag ?

This is a very expensive way to raise cash...........effectively Pallister has sold stock currently worth around $9 million (30 million shares x 30c) to raise $2 million.

Bazzaroid, your post is shameful.............and should be removed by hotcopper.