re: Ann: QTG Announces Sale of API Locksmiths... jason, check the preliminary final report for details of their current debt. It's a tedious read- like they are a customer of Cash Converters with a million conditions on them.
Hard to see why a company who will earn about $25m revenue from the security business per annum, can't make a profit now. It should have no debt left (not so sure jason that it will have cash of $1m left over from this sale- I think the payment just covers debt- could be wrong), so QTG will have no onerous interest to pay. They can then use the extra cash to build the business, or to have cash reserves- even pay a dividend one day! They have paid out a fortune in debt termination costs- outrageous, really. No wonder Helmsman wants to keep them in debt slavery. Helmsman and GE are no friend to this company.
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