directors have finished pumping

QRS's October 19 ASX announcement explains why the directors (and others) were so busy pumping the SP above 30c over the last few weeks. (Remember all those fake 250k buy orders strategically placed 2-3c below the stike price? They have all gone!!).

As I stated in earlier posts, QRS had run out of cash (although didn't reveal this to the market), and thus urgently needed to place more shares. So the directors had no choice but to try and pump the share price up sufficiently above 30c to make a further 30c placement attractive. The ploy seems to have worked, with QRS placing an extra $2.7mill worth of shares.

I feel sorry for those investors who recently got sucked in to the antics of this company. I'm sure they were not aware that the shoe-scanner has been cancelled (and I'm sure the need to raise capital explains why directors opted to hide this important fact from the ASX).

QRS now has 143mill shares and options on issue. On a fully diluted basis QRS has a market cap of $42.9mill at 30c. This is a massive market cap for a company of QRS's size and potential earnings.