we are on the launch pad

Well thought I'd better put some meat on the bones of the prelim final report so the older and newer members here on the QHL threads can get the proper read on things.

I won't go thro line by line but suggest if you haven't read the MD's remarks, then you should.

First of, they talk about the signing of the LTAs in the "near future" along with production and revenue commencing on time as previously stated. In fact it states "we have achieved all the milestones to start generating revenue as planned".

Now if there was any doubt as to whether these contracts are good or not ask yourself why Northrop Grumman personnel have visited the QHL facility and QHL is paying them $2.5m for assistance in setting things up. Your not going to ever convince me that NG would waste their own time and take money when they have no intention of completing the deal; in the real world it doesn't happen.

So, can we now take it as read that the LTAs will be signed and the contracts will fly and or on time and on forecast.

Moving on....if QHL didn't believe they would get a lot more work why would they set up Quickstep Composites LLC in Dayton? They wouldn't and no listed company would set up a US company unless they were 100% convinced it adds value. The paperwork and hassle in doing so means you need to be dead-set sure before you go ahead.

OK, lets talk about binder activation. Hand up all those who know what it is....yes, I guessed so, only Quickstep people know. Well when your making glass or carbon composite pieces there are a few manufacturing methods you can use. One is resin infusion and another is RTM. Binder is used to hold the layers of cloth in the right format and is like a pre-gluing to ensure the right materials are in the right place before the epoxy resin is injected or infused. Well, as Quickstep can cure or part cure resin systems, they appear to have sorted a methodology for activating the binder (glue) and then having the panels in a form they can be prepared and moved or stored. This opens a huge new market place as a large number of possible applications are in aerospace, automotive, marine and industrial.

Then there are the "secret" projects with CTRM and Airbus and the Resin Spray Transfer process for the auto industry. There are all the new heavyweight staff members and the "partners", Airbus, CTRM, US DoD, EDAG and Eurocopter who want to commercialise the Quickstep process.

So hope this helps. If you are in any doubt as to where this company is going you should maybe take up real estate or earning bank interest as a more fulfilling pass-time.

CD