Quote your mate stratovarius "'What kind of person are you???, are u brain dead to reality?? "
Read the announcement, what was stated in the announcement IS what has happened. You can state any rubbish you like, but it means ZIP.
The facts, what has happened with Multi-Trak IS what was stated in the announcement.
We can also assume that Mark Pallister is the buyer, as this was also stated in the announcement.
"In light of the ongoing cash requirements in respect of its Australian subsidiary, Multitrak Pty Ltd, and the huge growth potential overseas for the company, particularly in South Africa, the Board has decided to focus on its international opportunities and to divest itself of Multitrak Pty Ltd. This will remove the large and ongoing cash requirements demanded by further research and development and enable QuikTrak to move towards profitability in the near future by fully commercialising its 3G technology."
AND "To facilitate an orderly sale of the business, the Director of Multi-Trak has appointed Messrs Neil Cussen and Paul Watson, of Deloitte Touche Tomatsu, as Joint Administrators of Multi-Trak to oversee such sale. As the only expression of interest in the acquisition of Multi-Trak to date has emanated from a “related party”, the Directors felt that the appointment of Administrators to Multi-Trak for this purpose was beneficial both in terms of transparency, timing and the best interests of the business of the respective companies. QuikTrak’s South African subsidiary (QuikTrak Network Africa Pty Limited) is not impacted at all by this decision and will continue to operate as usual."
If, I'm wrong I'll admit that I was wrong.
Will you do the same, if I'm right and you're wrong? Are you man enough to do that !!!
QTK Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
