subsidiary approach tel growing strongly, page-2

Note that Approach Telecom has achieved "positive cash flow" in February, only its second month of operation (break even in January).

A fortnight ago, Quadrant announced that another of its subsidiaries, ETSdirect, had contributed net returns to the Company of over $325,000 in the past nine months, while Iridium Holdings LLC, the global satellite network which Quadrant holds through its Bareena subsidiary, had for the first time reached break even in the September quarter.

Quadrant has been accumulating undervalued telco assets for some time. It now appears those assets are beginning to bear fruit.