there were plenty of warning signs along the way with this stock.
mp getting charged with fraud was number 1.
the bounce from 24.5 to 35c when it relisted was what suckered me.
the failure for it to rally strongly after announcing hubei and the selling in the days that followed.
mp getting out of the 35c thorney placement....
hindsight tells me the cold hard facts. maybe it is a buy now but i couldnt handle holding anymore. market cap is still close to 60 mill, pallister bought the company for $1-2 mill, spent another few mill on it, maybe $2 mill in cash.....if things dont work out this could go a lot lower.
the history is appalling and what is more alarming is that management do appear to want to promote the stock by giving the kind of announcements the market is looking for.
if there is upside i reckon its still a long way off, hence why i decided to sell. too easily this could become another bqt imho.
QTK
quiktrak networks limited
