Honestly people....let’s have a look at Quiktrak.
Still not making any money, burning up cash like there is no tomorrow. Pallister just pumped in $2 million of his own money to prop up the company as no other lenders would give Quiktrak money?
Why? Because they continually burn it up and never deliver any profit back from their so called projects.
The Quiktrak Australian operation continues to drain funds and just cannot stand on its own two feet.
Quiktrak announces $1 billion worth of work or revenue coming from China. What happened to that? It just did not happen. Quiktrak failed to deliver again.
After falling from 41 cents to now 2 cents, Quiktrak is again asking the market for another $3 million bucks.
Why? Because they now believe they will make money in South Africa and for working capital for the Australian operation.
Why would anyone trust this company now after everything that has happened?
Why would you participate in the new hair brain scheme of giving Quiktrak $3 million where they are offering Quiktrak shares at 2.2 cents WHEN YOU CAN BUY THEM CHEAPER ON THE MARKET??????????
The 3 for 1 “FULLY UNDERWRITTEN NON RENOUNCEABLE PRO RATA RIGHTS ISSUE” has said quiktrak is now doing business with an unrelated company called Quiktrak South Africa.
How strange. Out of all the millions of company;s in the world, Quiktrak ends up doing business with a “non related” company called Quiktrak too!
As Infoseeker correctly discovered, the 2 company’s Quiktrak and Quiktrak South Africa are very related.
Peter Ritchie owns Quiktrak South Africa. Peter Ritchie is on the Quiktrak register as owning 250,000 Quiktrak shares and my research has shown that Mark Pallister and Peter Ritchie are in deed friends from way back.
Now is that unrelated? They are related. This has been a lie to the market.
Why so many lies to the public? Why this tightly wound story to the market that really...Quiktrak is worth investing in?
After all the failures to date, the lies from the company, the failures, the constant buring up of cash from share placements and loans from stock brokers, Quiktrak wants another 3 million.
Honestly, Quiktrak for me represents one of those companies that list on the ASX to drain whatever they can out of unsuspecting investors and continue to do so until simply....the con is up.
Even ASIC got involved in looking heavily into the business dealings of Pallister for his ability to misspend company money on his own personal real estate purchases.
In my opinion, Quiktrak is an embarrassment to the ASX and to all investors who still see such a company pretending to be a real company, i.e.: one that makes money and is worthy of being on the Australian Stock Exchange.
The sooner this company is delisted, the better for everyone imo.
DISCLAIMER:
Since it is known that Quiktrak themself spend time trolling message board and want to spend shareholder money to stop people having an opinion not in support of the Quiktrak misadventure, the following disclaimer is provided.
The above post is my personal opinion of Quiktrak.
QTK
quiktrak networks limited
