Coco,I also wonder if the timing of the announcement can be read...

Coco,

I also wonder if the timing of the announcement can be read in to. The fact that it was the 1st trading day of the month.

Did they have potential investors lined up who were waiting for QFX to achieve a milestone?
- 1 month cashflow breakeven
- 6 months EBITDA breakeven
- 3 continuous months of subscriber growth

And QFX achieved the milestone and bang.... Trading Halt. Then they had to scramble to find an underwriter and the underwriter wanted confirmation from key shareholders (eg. HBO, crede) that they would take up their rights issue in full before committing to full underwriting. Hence, the additional delay.

Just a two part theory... All IMO.