over 7c mcrae12, page-2

Ewl - today may have been a very significant day for QAD. VWAP was 7.09 and closed at 7.2c.

As I mentioned previously, I believe 7c to be an entry point once she breaks and thanks for the heads up. I would like to see more volume but perhaps it may not make much difference.

I'll have a look tomorrow. It is frighteningly undervalued.

Sydney - Tuesday - July 25: (RWE Australian Business News) -
Quadrant Iridium Ltd (ASX: QAD) reports second quarter highlights for
Iridium Satellite LLC (of which Quadrant indirectly holds a 9% stake).
Voice and Data Subscriber numbers have increased 25% compared to
the same quarter last year to 159,000.
Revenue for the second quarter 2006 increased 31% compared to
the same quarter last year to US$53.6 million.
EBITDA for the second quarter 2006 was US$13.2 million an
increase of 100% compared to the same quarter last year.
Cumulative EBITDA for the half year was US$26 million