Update: 14th May 2008

As I Write this QTI is trading at 1.27 pence per share. Those of you who are mathematically inclined will notice this is significantly below what we paid for them. A disaster you ask? I would say not. Whilst the price has gone down, the reasons we purchased the share all hold good. The decline seems to correlate heavily with the release of a further £1 million of shares to institutional investments. Whilst this shows QTI is short of money, we already knew this and the fact the institutional investors were prepared to buy them at all shows they have some belief QTI may succeed. 

If the above mentioned deal with Halma materialises then the price is likely to increase dramatically. In my opinion declines are probabely due to people who bought the stock with the expectation that it would continue to go up as it did in late 2007 and are now getting out because this hasn't happened. This was not why we bought the share and so we have no reason to get out.

On this basis, subject to some analysis of Halmas finances given the current market conditions, I will, at the next MYM meeting, be proposing that QTI is currently looking attractively cheap and we should increase our holding of it by approximately 2/3's.