Clearly the company has a problem on their hands - where to find the $5mio to repay the notes.
In all reality they have little chance of finding such a sum of cash. So what are the alternatives?
The note-holders would not be too happy accepting stock at 20c a share, when QTK last traded at 1.5c. Even if they did, then what - they could hardly offload mega millions of shares into an illiquid market.
Then again if the demand cash, and with the company unlikely to find the funds, then QTK go belly up.
Sorry, but it is difficult to foresee any happy outcome from this situation.
QTK
quiktrak networks limited
Clearly the company has a problem on their hands - where to find...
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