valuation, page-3

Swaggy,

I understand that "Vantage Analysis Pty Limited was commissioned by QuikTrak Networks to produce this Report, and was paid a fee for its professional services. The fee was a pre-agreed amount that in no way depended on the outcome of the Report. No shares or options were issued, and no other bonus or incentive has been paid to Vantage Analysis. At present no Vantage Analysis employee is a shareholder in QTK, however prior to completion of this Report, the favourable view taken on the company and its prospects resulted in Vantage Analysis introducing Note investors to QTK, and in the Director applying for Convertible Notes on the same terms as all other investors."

As for IP valuation, in the announcement of 16 March 2006:
"Following the acquisition of Multi-Trak Pty Ltd (“Multi-Trak”) on 22 July 2005, the directors of Quiktrak commissioned an independent, professional valuation of the business of Multi-Trak. This valuation was prepared for the purpose of assisting the directors to determine the appropriate amounts to be claimed as tax depreciation deductions in respect of Intellectual Property, pursuant to section 40-25 of the Income Tax Assessment Act, for the tax consolidated group of Quiktrak.
This independent valuation has determined the value of the tax consolidated group of Quiktrak and Multi-Trak at the acquisition date of 22 July 2005 to be $ 55.782 million, and the value of the Intellectual Property owned by Multi-Trak at that date to be $26.836 million."

Since then, IP value has further increased with 4 patents lodged.

I still think QTK is currently way undervalued. Would appreciate any constructive views on this.