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The QBT SP has been remarkably stable recently. Onl a 0.01p fall over the past three months, with negligible daily movements up or down. If it was a cardiograpgh, the sheets would be being pulled up over the patinnt's head. In the circumstances, the fervour on this board - both pro and con - is remarkable.No news, no price movements, just the same steady cash burn which has being going on for years. In truth, nothing to draw attention to or to discuss. Perhaps it is unsurprising htat most posts are currently speculation about about multiple IDs, and whose is a member of whose boiler room.

The QBT SP has been remarkably stable recently. Onl a 0.01p fall over the past three months, with negligible daily movements up or down. If it was a cardiograpgh, the sheets would be being pulled up over the patinnt's head. In the circumstances, the fervour on this board - both pro and con - is remarkable.No news, no price movements, just the same steady cash burn which has being going on for years. In truth, nothing to draw attention to or to discuss. Perhaps it is unsurprising htat most posts are currently speculation about about multiple IDs, and whose is a member of whose boiler room.

I have not checked, but my recoilection is that a further appeal has been filed against the supposedly 'final' appeal QBT won.

That would not be a surprise. The Italian judicial system is a wondrous mechanism for spinning out disputes indefinitely. The proceedings grind expensively on with hopes and expectations raised only to be dashed along the way, but a result never grows any closer. Rather like QBT's efforts to commercialise its tech. I suppose that lends a pleasing symmetry to its twin endeavours, the pursuit of the litigation and the R&D.

Thank you for your kind words Phimx. I tend to post anything which is long, or has taken much thought, on ADVFN rather than here because posts here or sometimes deleted for arbitrary and incomprehensible (to me) reasons. I think the LSE algorithm could do with some fine tuning!

Of all the stocks, in all the world, why buy QBT?

Is it its track record of big returns for shareholders?

Is it its strong balance sheet?

Is it its strong institutional endorsement?

Is it its past record of success in a multiplicity of different sectors?

Is it the strong broker and press recommendations?

Is it heavy insider buying, by directors and key employees well placed to know that it is about to go stratospheric?

Surely it can't just be faith in one elderly Italian, who draws a third of a million quid from it annually in consultancy fees?

Just asking for a friend.

Nothing surprising in the figures. Exactly what one expects from a hobby company where the hobbyist is CEO and employs himself as a consultant to manage his hobby and keep himself in the style to which he has become accustomed.

For those who don't follow the ADVFN BB, Mr C Stunt is Cupid Stunt, the ID by which Mikey is known to Dr Spooner

Oh dear, Mr C Stunt. You just don't get it.

The problem with QBT is that there is no investment cycle. It is a hobby company which exists for the entertainment of the CEO. Its operations have been structured to fund that hobby and at the same time to pay him a substantial income irrespective of lack of commercial success. There is no alignment of interest between the shareholders and the management, the management being in practical terms only FG. He decides what QBT will do, and he is paid as a consultant to carry out the operations he decides upon. Everyone else is a placeman, selected by FG to dance to his tune. Huge sums of capital have been subscribed over the past quarter of a century, without generating any trading profit, or creating any valuable capital asset.

The extraordinary feature (almost unique to QBT) is that none of its numerous capital raises have ever articulated any exit strategy whereby investors could hope, let alone expect, to realise a profit on their investment. Yet people continue to subscribe. It reminds me of the well known (but probably apocryphal) story of the advertisement in a New York paper which simply said 'send $10'. A lot of people did, and then complained that they had been cheated when they got nothing in return. They had not been cheated. They had been promised nothing in return for their money, and nothing was exactly what they got. They had merely assumed, without any reason to do so, that if they paid money they would get something for it. So too with QBT. Subscribers assume that if the company is undertaking blue skies R&D, that will translate into a valuable business. In fact, the R&D itself (not a business venture to capitalise on that R&Di) is the sole purpose of the company. The R&D is FG's hobby, and he likes (who would not?) to be paid handsomely for engaging in his hobby.

Where are these test results? In the time this 'testing' has been supposed to be going on the kit has probably become obsolete!

My guess is that the results can be summarised as follows:-

1. It does not work with any mining kit in use today

2. That does not prove that it cannot be made to work.

3. It is 'proving more difficult and taking longer than expected*

4. Everyone remains 'very interested' in what QBT is doing*.

* These two points are QBT boilerplate. They appear in every QBT progress report.

Is seaman Staines a member of the crew of the good ship QBT?

Relax, lads and ladesses. QBT is still meandering on, burning cash, as it has done for the last quarter of a century. No doubt it will continue to do so for a while longer yet, the SP falling with the capital destruction, until it eventually disappears up its own fundament. Or more correctly, until the last of the cash has disappeared into Gardin's back pocket.

QBT has been, and continues toi be, a very nice little earner for him. Just as well he is not paid by results, of course.I doubt that is an accident. Gardin is a smart fellow when it comes to feathering his own nest. Would anyone care to do the calculation and tell us how much he has received over the years, and compare that figure with the profits (losses actually) incurred by QBT, and the current net value of its assets? And then tot up the sums rased in capital raises, and the calculate the % dilution.Perhaps better not. The answer smay spoil the QBT bulls bank holiday weekend. Not even the most inveterate 'troll' would want to do that.

User S, a succinct summary of the the patent hearing: QBT argued its case and was given the middle finger, but as yet shows no sign that it has understood that response.

Does anyone know off hand when the options were granted and whether their exercise date has subsequently been extended?

If the exercise date is to be extended now, QBT is leaving that pretty late.

The only investment information their grant and imminent expiry (unexercised) provides to current and prospective shareholders is:-

1. When they were granted, it can be assumed that the grantees believe them to have value, ie that the QBT SP was likely to be higher than their exercise price on the last day on which they could be exercised

2. That expectation has not been fulfilled (or more precisely, the prospect of that expectation being fulfilled is vanishingly small)

3. The SP is currently (only a few days before the expiry date) about 95% below the exercise price.

4. Points 1-3 demonstrate the extent to which QBT's performance during the period between grant and final date for exercise has fallen short of expectations at the date of the grant of the options, and point 3 demonstrates how low current market expectation for QBT's future performance (or even survival as a listed company) now is.

Thought of the day for current and prospective QBT shareholders. Remember the age old wisdom about trying ti buck the market: If you buck the market the market generally ****s you.

KK, I thought I was the biggest pessimist on the board.? As soon as I go a few days without posting you give my crown to someone else!

E300 in 20 minutes, E15 per minute? You should have stuck wth the trusy semi diesel.

Perhaps though the fuel consumption would have been modest if you had been planing rather than plaining. Worth a try.

It would be a sensible precaution to stick with the khaki shorts until your 'feeling that things are going to get moving' wears off, OSD. As I have previously pointed out, the problem with a gut reaction is that it is all too often followed by a seat of the pants feeling.

Designed for the support and comfort of CEOs.

OSD, fools rush in [or on] where angels fear to tread.

A4P examined the box, and warned that it did not appear to have been designed to bear the weight of shareholders.

Llywelyn, I don't know much about quantum computing, but I sure as hell do about company reorganisation.

And I don't ever recall a case where an exercise such as i outlined was flagged up to the PIs in advance mrh. You may also care to note that scheme i outlined does not in fact depend upon any de-listing. De-listig helps as a first step if you are going to sail close to the wind legally, as you only have shareholders and not the listing authority scrutinising what you are doing, but nothing I outlined is going to attract unwelcome interest from the AIM authorities.

I am not predicting any of this, but it is an option open to Garmin, and the plan to list BlocKeeper rather than use it as a special purpose wholly owned subsidiary is at least consistent with such an exercise.

PS wili, if the thing is done properly, the loan to BlocKeeper should of course be unsecured (or escured on assets of small value) and for a long repayment term. It will be an asset in the QBT liquidation, so the long term and no, or low and deferred, interest ensures that its sale value in the liquidation will be heavily discounted. For neatness, BlocKeeper can then buy the loan from the liquidator, for next to nothing. There will not be any competition to buy it, as BlocKeeper won't be exactly a triple A covenant, and it will not be worth even its value discounted for time if it is unsecured and BlocKeeper (the borrower) does not look a safe bet to repay.