###if QTK are selling around 350 to 400 units per month the June quarter should come in around $2m to $3m without any income of any note from China as delivery of transponders to the Beijing project only bein this quarter.####
Looks like they are selling a lot less than you thought Bazzaroid !
Revenue grew a lousy $169k to $1.019 million, You were only 50% to 70% off target !
Staff costs rose $5k in 3 months, which further suggests nil growth.
Marketing costs rose $192k, but I haven't seen any advertisment ?
Other working capital (purchase of transponders) fell by $204k, which again suggests nil growth.
Inventories rose by $587k which is viewed as a negative in most financial calculations, but they explain it away as stock for china (more likely the over estimated sales and are holding excess stock).
Net Loss was $275k compared to last quarters net profit of $685k.........the difference here is last quarter they used R&D as a credit.
Once again this shows poor growth performance, and negative growth.
Cash reserves have fallen from $3.7m to $2.3m to $1.2m over the last 3 quarters......which means they burn around $400k a month.........this equates to current reserves of approx $800 left in the bank as of today OR 8 weeks of reserves left until ZERO dollars.
This is quickly turning into another BQT story, where your estimated figures don't match reality.
You'll forgive me (and other readers) if we doubt any further sales projections that you might make in the future.
QTK
quiktrak networks limited
