Resol, I don't think Helmsman is the problem. The issue is that QTG management and board have repeatedly, over many years, shown they are financially naive. To enter into the API acquisition without raising equity capital at the time was ill-advised. They paid through the nose for their finance and then ended up having to do an equity issue 6 months later anyway. That issue, at 4c, was done at a much lower price than at the time of the API acquisition, and has diluted all shareholders. However, they now have a streamlined business that should be quite profitable.... we will of course find that out in a few weeks time when they deliver their results. I am expecting a rerating once that comes out, but will always be wary of those in charge of this company for fear they will yet again be taken for a ride by shrewd financiers. Their dealings with the hedge funds Vision Opportunity and Platinum Partners a few years back come to mind.
QTG Price at posting:
3.5¢ Sentiment: LT Buy Disclosure: Held
