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ASIC should suspend any further trading in QTK...

 

It is my opinion that ASIC should suspend any further trading in QTK until the IP matter in dispute is made fully clear to investors. To post both the IVK dispute notice (BELOW), along with an "unsigned" type of denial by QTK, (following market close), is simply NOT good enough.

 

The shareprice (that opened @ .3350cps) earlier in the day was then "dumped" down to .29cps before being traded back to .31cps on close, & had fluctuated (as such) to the POSSIBLE benefit of those that had been aware of & had 'resurrected' this (SEEMINGLY) 'old' complaint from IVK, (& was again announced by IVK) by posting it on the HC board and have now finally been supported, by this "unsigned" announcement, from the QTK.

 

That IVK had posted of their notification (to QTK) at 10:36:27 (am) and it only appears as an "unsigned" announcement associated with QTK, at 16:44:56 (pm) following the close of the market, surely is an accountable failing of QTK's own administration (?) and that of the system of the respective authority, BEING the ASX.

 

I AM CALLING FOR SOME MUCH NEEDED TRANSPARENCY IN DAY TO DAY OPERATIONS OF THE MARKET & WOULD WELCOME ANY DISCUSSION WITH ASIC re; THIS MATTER.

 

Response to Investika Limited Announcement

 

Announced by: QTK

Announced on: 22/11/2005 17:04:13

Words: 342

Status: Not market sensitive (N)

View original PDF

 

Company Announcement Office

The Australian Stock Exchange Limited.

 

For immediate release Total: 1 page ( including this page)

 

Dear Sir/Madam

 

QUIKTRAK NETWORKS LIMITED ("COMPANY") ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚­

 

QUIKTRAK INTELLECTUAL PROPERTY OWNERSHIP

 

In response to the announcement made by Investika Ltd of today's date, the Company responds as follows:

 

ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚· The Company confirms that Multi-Trak Ltd, a wholly owned subsidiary of the Company, is the owner of all intellectual property utilized within its proprietary direct sequence spread spectrum networks.

 

ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚· The Company has not received any notification of a request for a commencement of any dispute resolution process from Tarquin Resources PLC or anyone acting on its behalf, as stated in the announcement by Investika Limited.

 

ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚· The Company will vigorously defend any claim made by any third party in respect of its intellectual property rights.

 

Last Price +/- % Open High Volume

$0.3100 $-0.0300 -8.8% 0.3350 0.3350 1,829,435

Bid Ask # Bid # Ask Low Value

0.2950 0.3100 4 1 0.2900 $559,175

 

QuikTrak Networks Ltd Dispute

 

Announced by: IVK

Announced on: 22/11/2005 10:36:27

 

22 November 2005

Companies Announcements

The Australia Stock Exchange Ltd

 

Dear Sir

Re: QuikTrak Networks Ltd. Dispute

 

Investika Ltd, through its partly-owned subsidiary, Tarquin Resources plc (listed on AIM in the UK), is the owner of the QuikTrak intellectual property, and is able to exploit that technology, in the UK, Europe, Russia and its former republics and the Middle East, including Lebanon.

 

We refer to various public statements made by QuikTrak Networks Ltd concerning its ownership and ability to exploit the QuikTrak technology.

 

In light of a dispute between the parties concerning the rights of Tarquin Resources plc, Investika Ltd and Tarquin Resources plc have instructed their legal advisers, Clayton Utz, to commence dispute resolution proceedings in accordance with the Australian Commercial Dispute Centre guidelines. If this does not bring about a satisfactory resolution within 90 days of the commencement of the dispute resolution process, Investika Ltd and Tarquin Resources plc have instructed Clayton Utz to commence court proceedings against QuikTrak Networks Ltd.

 

Yours faithfully

INVESTIKA LTD

J.B. MAGUIRE

COMPANY SECRETARY

 

http://www.sharescene.com/html/emoticons/smile.gif

LC

 

PS: I do not hold shares in QTK and have never ever held them, as such.

 

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I agree with your comments totally....

 

It is just not good enough. The timing enough as it is in issuing the announcement on the QTK website is very poor, when you compare when IVK did it.

 

I could not stand the heat and got out yesterday.

 

OK, the price did rebound slightly at end of day and I could have sold at 31 cts but I would rather take my funds elsewhere in a company where there is less controversy, let's put it this way...

 

As it is, I am half expecting some fallout from the existing contracts at some stage and would not like to be holding QTK at that time. I know I will kick myself as it may go up, but I will not take this chance.... http://www.sharescene.com/html/emoticons/thumbdown.gif

 

 

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  • 2 weeks later...

Theres a couple member of another board claiming that qtk is on the fringe of some HUGE news...does anyone have a comment? just pushing the price up or r they legit? I was leaning towards the first but am starting to reconsder. obviously am in two minds

 

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In reply to: powwww on Wednesday 07/12/05 05:49pm

Just be careful of what you read !!

 

I wouldn't touch with company with a 10 foot pole....

The rampers on the other forums have pushed the share price up on two occassions and both times it has been dumped by people caught out...

 

My suggestion and only a suggestion, 'there are better companies out there' !!!

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I agree totally with you, Mr Dollar..

 

I had high hopes with QTK and could have sold at a large profit pre-fall out but got caught out when all the bad news happened & before you know it, the company went into trading halt, and then suspension.. and we all know what happened from there on. .

 

I ended up selling at a marginal loss and feel the same as you. Even though the company may well come good eventually, I personally don't think it is worth the risk and would sit back and wait until you actually "see the money" of these contracts starting to come in -

 

In fact, even then, I would not go back into QTK on principle.. Anyhow, since I have got out and got into other stocks, I have already made up for those losses on QTK.. the market is full of good opportunities out there and I can sleep better.. I would not want to go through what I experienced again that time when we were in no man's land for quite a few days expecting the worse, and being told precious little... http://www.sharescene.com/html/emoticons/wacko.gif

 

And by the way, have they finally got around to updating their website??

 

To the holders, hoping it comes good for you guys, as none of us like to lose money, but for new traders, TREAD CAREFULLY

 

 

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In reply to: iamtheflea on Saturday 10/12/05 08:07pm

great work iamtheflea

 

this explains to me a hell of alot about china alarm holdings and its link with qtk. great reading for all qtk holders and gives good reason to believe that more contract wins are on the way. i can not work out the link with thorney group though. can you please explain?

 

thanks

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In reply to: aceisme on Thursday 15/12/05 12:16am

I think it will too - just got the confirmation of what I was lead to believe with more things to come. Someone just bought up 190,000 shares @ 0.285 cents. Then someone sold 100 shares at $0.280 cents. If it closes north of 0.280 cents will move back to $0.35c fast. Then back to 46cents when Pallister is cleared or more news of the new deals comes through. I think the later will be first. IMo

 

 

The facts are that the charges related to dealings between one of Mr Pallister's private companies and a partnership in which it was involved, IT did not involve QuikTrak. QTK has never been in better shape even when at 45ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢. China deal, et al.

 

Quktrak is not in dire need of fresh funds.

 

Mr Pallister proclaims his innocence (which may or may not be true) and, if the charges are dropped share prices will go north fast.

 

The recent fall in the share price was not due to any change in the company's operations and to demonstrate this they did not offer the placement to Thorney at a reduced price. Also, Pallister will pay the full placement price for the shares

 

Do your own research the sky is looking blue imo.

 

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