qrs...qrs...backing this bio, page-4

Here's a report on RQS that I posted earlier today.

Cheers,

Fig Jam

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

“The Inside Trader” QRS This weeks stock to watch

http://www.weeklystockpicks.com.au/picks/Stock_Watch_06-05-04_(QRS).pdf

(QRS) QRSciences enters into consultancy agreement
6-May

QRSciences announced today that it has entered into a formal consulting agreement with one of the early pioneers and developers of Quadrupole Resonance, also known as QR.

Professor John Smith's NQR Consultancy through Kings College London has been practicing QR techniques for the better part of 30 years and was responsible for groundbreaking discoveries and the creation of core intellectual property in the field.

The King's team led by Professor Smith co-authored and developed all of the patents licensed to QRSciences through BTG International Limited.

Professor Smith is Emeritus Professor at King's College London, where he is Director of the Quadrupole Resonance Group.

Director buying stock:

CEO and Director: Kevin Lee Russeth

Russeth held the following shares prior to Dec ’03
Indirect = 1.25m FPO, Direct = 512K
Holds about 3,750,000 Options at varying exercise prices (40c, 60c, $1 ) all expiring 12/01/2006

1 Dec 03 Bought 110,000 FPO on market @ 0.165C
14 April ’04 bought ( Direct ) FPO 8,000 and ( Indirectly ) 360,000 @ 16.5c and 17c

Shares on issue

QRS 155.794 Million FPO
QRSO 21.76 Million @ 0.20 EXPIRY 12/01/05
QRSOA 15.76 Million @ 0.40 EXPIRY 12/01/06

13 Feb 04 $A5 Million capitol raised through
Institutional and sophisticated investors, this was the reason for the sell down from high of $0.22 in February to a recent low of $0.14 in early March.

Has been climbing slowly at good volume last few weeks, with a minor hiccup in late April.

Aegis Independent Research Report dated 24/03/04

To see QRS Sciences Report by Aegis Independent Research click HERE.

The link will take you to the Aegis Home page. Find the box labelled "Investment Evaluation Research" the QRS report is the last one in that box.

Worth reading after all the trouble getting there.

http://www.aer.com.au/User/XQRS_26861.pdf

Aegis values the company at $74million or $0.44 per share

QRSciences Holdings Limited
(ABN 27 009 259 876)
PO Box Z5388 Perth WA 6831 AUSTRALIA
Tel: +61 8 9 358 5011 Fax: +61 8 9 358 5022 e -Mail: info@qrsholdings. com
Holdings Limited
13 February 2004

QRSCIENCES SUCCESSFULLY CLOSES CAPITAL RAISING
QRSciences Holdings Limited (ASX:QRS) announced today that it raised
approximately 5 million dollars via an oversubscribed placement and conversion of its
convertible notes.

The convertible note facility is now fully retired.
The shares were placed with a group of institutions and sophisticated investors.

The Company will use the funds for ongoing working capital requirements.

About QRSciences Limited

QRSciences Limited is based in Perth, Western Australia and specialises in
commercially focused physical sciences R&D. The company is a world leader in
Quadrupole Resonance (QR) applications, a next generation technology that uses
radio frequency spectroscopy techniques to identify and detect molecular structures.

QR is closely related to Magnetic Resonance Imaging (MRI) which is widely
employed in industry and the medical profession. Applications for the technology
include explosive and narcotic detection, pharmaceutical quality control and
assurance, lab instrumentation and environmental science applications.

QRSciences Holdings owns 61% of QRSciences Limited.
For further information, please contact:

QRSciences Holdings Limited
Tel: 08 9358 5011
Email: [email protected].
http://www.qrsciences.com/index.cfm

Cash as @ 30/04/04 $4,462,000 and no debt. Cash burn rate about $1.2 Million / Qtr

End of Report

Cheers,

Fig Jam