Executive directors are asking for shareholders at the upcoming AGM to approve issue of shares and options with around 4c conversion value or strike price. Which is generous of them considering the shares have dropped to almost 1c.
I never figured out why this stock was so severely punished given they have a solid foothold in residential broadband equipment. In the US last year an average 17,000 new broadband connections to homes and suburban businesses were made each DAY for all 365 days and all of those required equipment.
QTL have both cable modem and DSL equipment - the two major technologies used. Does anybody know anything adverse about this stock because it looks like hitting a maiden profit quarter this year and maybe this quarter. Is it running out of money or something?
QTL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
