qtk up another 20 percent and no sellers, page-20

Mikey_

From the 2007 annual report;

"The Company raised $5,500,000 (before issue costs) on 2 October 2006 from the issue of 27.5 million unsecured convertible notes. Each note is convertible into one ordinary share of the parent entity at the option of the holder, or repayable no later than 30 October 2008."

500,000 of these were converted Nov '06 leaving 27m to go (or $5.4M at 0.20 issue price).

Under Financial Liabilities (p37) you'll see "Borrowings" of $5.4M with 10% interest rate maturing in 1-5 years.

Seems like some noteholders need to be repaid...