I found it funny that in their filing QTII stated that they nixed the deal yet the iPackets PR clearly stated that IPKL did- and for what reasons. lol Also note that the PPS for QTII was 1.30 when they announced the agreement then the product was pumped like crazy while the stock price plunged to .09. Not so sure that was appreciated by IPKL- not their style IMO.
As far as Vetter is concerned, he's probably still on the BOD of both companies. I tried to get ahold of him tonight to clarify if he was still with QuadTech but he had left. If I get time tomorrow I'll try again. Send off an email- will post back if I hear back from him, if not I'll call.
Of course if someone already knows, please indulge;-)
FWIW here's his bio from his own site:
Roland Vetter was born and educated in Johannesburg, South Africa. A Member of both the Canadian and South African Institute of Chartered Accountants, he attended the University of the Witwatersrand in South Africa, where he obtained his Bachelor of Commerce and Bachelor of Accounting degrees. Mr Vetter emigrated from South Africa in 1998; and settled in Vancouver, BC, Canada, where he currently resides.
Roland Vetter, was the former Group Financial Services Director for the Zimco Group, part of the New Mining Business Division of Anglo American Corporation and a former Chairman of the Anglo American Audit Liaison Committee. Vetter was with Zimco for 12 years until he immigrated to Canada. The Zimco Group comprised twelve distinct operations involved in mining and manufacturing. Roland served on the board of Darmag Ltd, one of the Zimco Group listed companies. He also acted as Strategic Advisor to the Zaaiplaats Tin Mine Ltd another listed company in the group; during the time when the world tin prices slumped he assisted this mine during its survival-mode period.
Since coming to North America, Roland Vetter has held the position of Chief Financial Officer and VP Finance & Admin. for Xenex Innovations Ltd., a TSX Venture Exchange company specialising in the commercialisation of new technology. More recently he was the CEO of Olim Software Solution Co. Ltd and Milo 1 Network Solutions Ltd. and a director of Dasek Securities Ltd. a Bermuda based company. This group of companies created integrated web-databases and e-commerce solutions in the form of Oracle custom-built trading systems for multinational companies.
He consulted to a U.S. mining group (Cardinal Minerals Inc.) with respect to the acquisition and financing of a producing silver/copper mine in Mexico, which resulted in him being asked to join the Board as its President & CFO. He and his team evaluated a gold project just outside Denver, Colorado. He was also Chief Financial Officer of Globetech Ventures Corp, which is involved evaluating Mining Exploration in Brazil. He joined International Gold Resources, Inc. and is currently the President & CFO after the successful involvement with the due diligence and reverse take-over of a private US mining group with exploration interests in Brazil and the Yukon.
As an executive with a significant background in growing start-up companies, Mr. Vetter specialises in mining, manufacturing and technology with the skill to highlight opportunities and find innovative solutions to successfully grow such companies. He has diverse financial and operational ability at an executive level, including specialist skills in evaluating businesses and projects and then completing the due diligence, business plans for fund-raising. Roland then using his hands-on expertise in assimilating and rationalising operations as well as implementing projects, mergers, acquisitions and disposals. He has been responsible for risk management, internal controls, corporate- governance and in optimising funding structures including corporate tax planning.
His skills, amongst others include:
Directing and preparing feasibility studies for potential acquisitions, completing due diligence audits and designing complex financial models to ascertain the viability of such projects. These financial models contain the key drivers for an entity and create the basis for the first budgets and management accounting once the project is adopted.
Representing groups during and after take-overs. This included the acquisition of seven major companies (as well as the subsequent de-listing of one of them) and the successful merger of substantial groups.
Participating in strategic discussions in charting companies futures, and team building exercises to run such companies. Provides strategic thinking and planning for companies and marries this into the budgeting and reporting cycles to help make these a reality.
Develops company business plans, presenting them to potential investors.
Involved with top management in fund raising and on going relationships with financial institutions in order to raise medium term finance. This included setting up structures and providing the input to get a Luxembourg Bond with a Triple-B Rating, assisting with the bond documentation and presenting to potential investors in Germany, Switzerland and Honk Kong.
Assists in the public offering, as well as interfacing with financial institutions to optimise the group's financial structure to maximise after tax cost of finance.
Manages the treasury and funding needs of the companies.
Looks for business opportunities and strategic alliances that will help companies grow. Then actively participates in investment analysis and makes recommendations on such possible acquisitions.
Provides skills to set up controls and manage risk to allow the companies to achieve their optimal size.
Prepares, studies and conducts continuous reviews to assess the performance of existing portfolios of products, operations and companies, looking for ways to exploit their strengths and opportunities.
Reviews proposals for major capital expenditure projects and determines economic justifications for such proposals. Monitors capital expenditure for successful implementation, ascertaining that projects live up to their anticipated performance
Rationalises and streamlines groups into efficient tax paying entities.
Successfully oversaw the adoption of the King report on Corporate Governance by Zimco Group. Implemented a Control Self-Assessment programme to make operational management aware of their responsibility in assessment and management of risk.
Chaired the Anglo American Audit Liaison Committee - which represents the Internal Audit functions of the 15 largest groups of companies in South Africa. Provided a challenging forum for its members, on topics of mutual interest.
Prepares Reports and Annual Financial Statements for listed and non-listed companies. Also provided interim reporting and press release filings for US and Canadian listed companies, ensuring compliance with Stock Exchange policies.
Provides consolidation expertise to groups.
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