Given QRS' current 27.4% ownership of spectrum, the $42mill IDIQ...

Given QRS' current 27.4% ownership of spectrum, the $42mill IDIQ contract announced today, assuming all options are exercised by the TSA would, would only be worth around $5-6mill per year to QRS.

But as anyone who knows how US govt IDIQ contracts work, it is common for the govt to not take up all the options on the contract. So, the contract could end up being smaller still.

The sp has risen strongly a few days ahead of the announcement. It should be of great concern to all ASX participants that QRS management seem to have released information about this contract to some people a few days before releasing it to the market.

I can only assume that this is part of some kind of strategy to artificially pump up the share price a head of the next capital raising.

The 250k buy order at 39c looks fake.

Punters should also keep in mind that, on a fully diluted basis, QRS' market cap is now well in excess of $45mill. The company is likely to record another sizable loss this year and incur further significant dilution.

Once the market realises the share price is being manipulated, the SP could quickly fall back to earth.