Hi Buddy134,You have mentioned some very good points and i agree...

Hi Buddy134,

You have mentioned some very good points and i agree that it is 75% of the vote at that time. We can clearly see the volume of votes during AGM and other meetings and it is unusual that every single shareholder participates in voting (minus the management).

My intention is to raise awareness to the geniune QMN holders who read this thread and request them to do their own research and also take action if they see something is very wrong with the way Howard and co have been running QMN in the last few years. Unless they are ok if a TO does happen and we are forced to sell at a loss.

I am also in talks with a few people to get this across ASIC and other channels and I cannot post the details of the key points at this very moment. So my posts will have the information people can use to dig further and do what they think is right for themselves.

I think your point about Patterson not taking up the rights may be also true. But with the smoke and mirror tricks, you can see that Howard, PNG et all will take up additional voting power so that way, they will still raise around $5million out of which $4 million is already gone to pay Butmal, Howard, PNG loan and the fees. So in a few months there will be another CR unless my suspicions are true (TO).

The administration cost is still $750,000 which is similar to previous years that included Howard's salary. Now that the CEO has joined the team and directors leaving including Howard stepping down, where is the breakdown?

Unless the management is forced to be transparent, they will make decisions in-house without releasing anything to the market. I do not believe there is anything like corporate governance or checks and balances at QMN. It is upto the investors to get the management to be more transparent.

Maybe we should also ask the auditors that besides ensuring that the accounts and expenses are verified, do they actually conduct a general check whether the expenses are justified?

Do they audit the golden handshakes?

Also Why is Butmal charging so much for the fees when the person who owns the company is also getting a salary on top. I am sure if Howard cared so much about QMN, he would try his best to cut down on administrative costs.

Isnt it a conflict of interest that Butmal and Howard are both getting fees?

There will obviously be good justifications to my questions by the management but unless we see the detailed accounts, we will never know the facts.

So please, do your own research, go through all announcements and promised timelines, see how much was raised and the reason for the CRs and compare it against what was delivered.