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For the record I am a long term holder with no short position, I want QFI to have success, whether you agree with my point of view has no relevance, this is called freedom of speech.
I post when I feel there is a point to be made, and whether you agree with my opinion or not, I feel focusing on partnerships at this stage is the wrong strategy. I do not consider this agreement Good news or bad news, it is neutral. If we actually had a genuine client I will be celebrating with the rest of the LTH's.
Being transparent, I didn't listen to the conference call. So that is good news, we are fully funded for longer?
I was under the impression after the press release in December that unless they raised money there would be ' an orderly winding down of the company'
Could someone let me know how long we are funded until?
Another day and yet another partnership agreement to add to the growing list of MOU's, MOA's, Joint Venture, Joint Marketing agreements - everything except an actual CLIENT!
Investors in this company know that the one thing QFI do not have at this moment is time. We are 3-4 months from going out of business, which is why I don't understand the strategy to be focusing on partners.
As we have seen with the JGC - these partnerships take a long time, we have no clients generated thus far from JGC and as we saw with the Rafid which was signed in 2012 - it ended up bearing no fruit and being terminated after 7 years.
Listen I understand the need for business to partner with companies who can open doors and it is important. However we need revenue now - we are in the football equivalent of a knockout game being 1-0 down in extra time! Now is the time to go all out!
If I was in QFI business development now I would be putting 100% of efforts into signing 1 direct client! Not partnership agreements - I truly believe this is the wrong strategy!
This is urgent and partnerships will not generate quick business, this is a fact.
Haha exactly Foxm - these boys don't mess about when it comes to MOU's.
I am hoping they can maybe mix it up a bit and diversify the MOU's with maybe a few more co-operative agreements, maybe a couple of joint marketing agreements and a couple of LOI's for good measure?
Don't let us down QFI - you are the company to beat when it comes to signing these types of agreements!
Another MOU signed by QFI! I have to say, when it comes to signing MOU's - QFI are a world class company! Who needs actual money? Mike Kirk and the boys, keep these MOU's coming!
Well TheOrns you can believe whatever you like. I hope they don't go out of business but there is a very strong chance of it happening.. I think the sensible thing here is whatever you do make sure you don't put any more money into this stock (or at least no more than you can afford to lose)
haha thanks TheOrns I would love that to be the case, not just for me, but for all the long term holders.
I may hold on a bit longer.. long term my investing principles have changed and I want to divest from fossil fuel companies into more ethical investments. I am just hoping this lame companies can have a bounce up to 20p or thereabouts and then I am bailing lol
Absolutely guaranteed! :D QFI is possibly the worst investment I have ever made!
I am still holding on in here, more out of blind faith than any logical common sense.
Ab
Fair comment petergar and point taken. I'm wishing you luck with this one anyway.
Peter I couldn't care less whether people get pissed off. I won't be commenting further on the BOD as no one has responded - which I can now see is due to the fact this board's only aim is to paint a glossy picture and avoid uncomfortable truths.
Wishing everyone the best of luck with their investment.
Why are the posters so vocal to try and discredit anyone who posts anything critical? There seems to be an agenda here which is concerning. I'm not trying to scare any potential investors off - I am a shareholder. I want this company to succeed but it's clear the current board are incompetent. I will raise this at the next AGM (If QFI is still in business then)
Fyoz there are many shareholders who read the open message boards without registering or posting. I was one of those - however the dire circumstances that led to the open offer was the last straw for me and I will be very vocal on here in the coming months unless I see some changes in the way this company is run!
I stated in my first post that this was the first time I have posted about QFI and was very transparent. Is there a way I can post a screenshot to show my QFI holding on interactive investor?
Fyoz clearly avoiding my question
How can Mike Kirk and Jason Miles justify taking over £400k between them in 2018 when:-
1)They had to raise urgent funds via an open offer to PREVENT* "an orderly winding down of the company"
2)The company is making year on year losses..
Fyoz seems to have taken the role as a protector of the BOD so I will just put this question out there to normal, neutral shareholders.
How can Mike Kirk and Jason Miles justify taking over £400k between them in 2018 when:-
1)They had to raise urgent funds via an open offer to presently "an orderly winding down of the company"
2)The company is making year on year losses..
Fyoz seems to have taken the role as a protector of the BOD so I will just put this question out there to normal, neutral shareholders.
Fyoz - does it matter how they chose to raise the money? Really? The bottom line is they needed money from investors (whether existing shareholders or not) to prevent the company being winded down. This is a fact. No "de-ramping here".
Again, this board is strange no-one actually answers the questions that are posed. So I will repost it until someone gives a logical response:-
HOW ON EARTH CAN MIKE KIRK AND JASON MILES JUSTIFY TAKING OVER £400K IN COMPENSATION BETWEEN THEM IN 2018? WHEN THEY HAD TO GET FUNDS TO KEEP THEM AFLOAT AND A DANGER OF THE COMPANY BEING WINDED DOWN...AND WHEN THE COMPANY IS MAKING MILLIONS YEAR ON YEAR IN LOSSES??????
Blackwash what on earth are you talking about? I am neither trying to ramp or deramp this stock. In fact I don't even know what this means - if by deramp you mean I am trying to push the share price down then 1) That would be rather stupid of me considering I hold shares in the company and 2) I think it's safe to say the company have managed to deramp it pretty well themselves - all the way down to 2.5p!
It's funny how anytime something is posted that is deemed negative, instantly regular users on here try to cover up the posts by calling that person a doom monger and a shorter. Well I am neither of these. I want this company to succeed. Its almost like QFI have friends or family posting on here to block out any criticism - it's like big brother state here!
But no one answered my comment previously - In 2018 when the company had to urgently raise money from existing shareholders to prevent "an orderly winding down" of the company HOW ON EARTH CAN MIKE KIRK AND JASON MILES JUSTIFY TAKING OVER £400K IN COMPENSATION BETWEEN THEM? WHEN THE COMPANY IS MAKING MILLIONS YEAR ON YEAR IN LOSSES??????
He most definitely is misguided.
I find the posters on this board quite strange it's almost like some are trying to protect the board from any criticism - when they deserve a rocket up their a**es for the way they are running this company!
QFI's exec chairman Mike Kirk was paid £207k in 2018 and Jason Miles £216k .. and for doing what exactly? I don't see how they can justify these salaries.. especially as by the end of 2018 they were asking for another £2m running costs.
So basically "Guys we have done a terrible job but can you please give us some more money to cover our salaries" cheers.
These guys need to go. ASAP
Fyoz you are ridiculously rude and seem to have a limited knowledge on how businesses are actually run! What is your professional background?
I have ready EVERY single RNS issued by QFI since 2013. I am not "lazy" nor "incapable of doing research" however for me (and most normal people) MOU's or "Co Marketing and Project development agreements" are irrelevant.
I run a sales desk with over 20 brokers and when we discuss their performance each month we discuss pipeline but most importantly we discuss sales. If every month a broker has no sales but keeps going on about pipeline, it's normally a sign they cannot CLOSE deals. Of course we give them time, but essentially we are running a business. QFI have nothing coming in - they have to sign marketing agreements to distribute their product because they are clearly incapable of closing clients directly.
Let me break this down for you Fyoz. QFI almost had to liquidate the company because they had no money or clients and it's irrelevant how many MOU's or agreements they have in place - it means nothing. Zilch. Nada.
Hi CrystalBall,
Thank you for your message. I have invested in several other AIM companies with varied success but QFI was the one I have pumped most money into. Of course I take responsibility but I’m really disappointed with QFI and I don’t feel they have done enough to turn the company around. Freepoint could be promising but if that’s really what we are relying on to turn around our fortunes then it’s frankly embarrassing. Aside from Freepoint what are they doing? Some of the other AIM companies I have invested in are dropping RNS’s every week and it’s clear there is activity. But with QFI I feel that we have quite an elderly exec team who are lacking the energy and charisma to actually make money for QFI. I would love it if we could replace them with execs more experienced at running successful business in this sector as we have a decent product. I have completely lost faith in the board, QFI needs better people