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Pallister case is for others to decide, at the very least the powers that be should have informed shareholders/market he was facing these charges - they did not, and to assume the impact of these charges is not material to the company is naive, and that is putting the most positive slant possible. It seems others felt these charges not insignificant thus have wriggled away.

 

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Uh oh,

 

Well I guess I have to resign myself to losing a lot of money tomorrow. This is unfortunately not a very pretty picture short term.

 

I guess and it's just a guess, that the reason Thorney get to keep the options is QTK's way of saying we are very very sorry. It's also most likely the reason that THorney have agreed not to sue the ass off QTK directors for not disclosing a highly market sensitive matter prior to negotiating a placement.

 

The lock on shares almost seems like Thorney are going to wait and see which way the shareprice goes. They obviously don't want to be a part of it when/if the SP gets thrashed tomorrow and don't want to have to sit on a losing investment for any length of time. Having these things "locked" with the reversal expected to take until January 2006 to finalise smells to me more like, "well, let's wait and see and if the share price gets hammered but by the end of January has recovered nicely and is well above 35c , then heck we'll take those shares again."

 

On the positive side, at this stage as far as we gumbies know, the business is still on track and the China deal is still a goer, Lebanon deal also and it would appear that the SP should recover from any battering to reach new highs as the story unfolds. But hell's bells mumma it's gunna be a rock'n'rollin day tomorrow I'd guess.

 

As far as "who is going to run the company?" Well, the consultant of course. With 155million shares (or whatever the exact figure is) I doubt very much that the consultant is going to sit back in a banana chair , take some time out to read his favourite novel and reflect on his naughtiness whilst he awaits a hiccup back at the office and someone to plea for a little assistance.

 

Be that as it may, I sure wish I didn't own any stock right now!! http://www.sharescene.com/html/emoticons/puke.gif

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In reply to: cloudwalker on Thursday 17/11/05 08:37pm

Well, this company and its board have now aquired an odourous smell, like it or not, their machinations and corporate gobbedelygook, will take more than this obviously desperate attempt at damage control, with some wildly concocted tale, this tomfoolery is going to bite them. http://www.sharescene.com/html/emoticons/thumbdown.gif

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In reply to: cloudwalker on Thursday 17/11/05 08:37pm

I dont think the Chinese will like this controversy one little bit, and you can bet they will be reviewing the position, losing face is not part of their culture, as a lot of bigger companys than this have found out to their dismay.

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In reply to: awol on Thursday 17/11/05 07:36pm

AWOl, Pallister is guilty of not informing his company's shareholders that he was on fraud charges. It's really that simple. I would not buy a part of a business if I knew that the MD/CEO of that business was on fraud charges. I'd be very happy to buy if/when he is found to be NOT guilty. My perogative to make the decision whether I deal with people that are up on criminal charges, and obviously ASIC and the court believes their is enough evidence to suggest that this is worthy of going to trial.

NB I'm a shareholder and desperately hope he gets off for everyone's benefit including his and his family's.

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In reply to: MiscMan on Thursday 17/11/05 09:56pm

Dosent matter if he is found innocent or guilty, the Chinese will NOT deal with him now, as you said, he has betrayed everyones trust now, the company included (I cant believe the board was ignorant of this matter), whats that old saying about not being able to change your spots?

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In reply to: ayrman on Thursday 17/11/05 11:12pm

Look at what the chinese did to FMG. we shouldnt generalise about the chinese, but from my personal experience they are ruthless and will take any oppurtunity, and we should they be any different to thorney.

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In reply to: brabus on Thursday 17/11/05 10:15pm

Iv'e never seen such a disgraceful state of affairs, is this a new concept?--selective buyback only for the favoured??, this is not on. A thorough review of all trades in the last month at least should be immediately compiled , and recompense at cost, if requested, by any investor who bought, and still holding, should be immediately made available to those unfortunates who could be affected by these "changed conditions".

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