I'd think Squires would be screaming it from rooftops and mountaintops. It would be a momentous day in QMC history to gain just a few thousand dollars let alone the other 1/2 mil.
There are plenty of ways to earn money. They could have been selling and servicing batch equipment for competitors. They could have been investing in real estate (Squires' kid on the board is in real estate) as they diluted shares (a favorite trick of mine in business, when I wasn't earning money, was to accumulate assets that would appreciate and could be sold later). They could have run a side business that could be sold after QD income is available. Squires just isn't interested in earning money. Squires has deliberately dug himself into a deep hole.
Regarding Assam, when someone defaults and remains defaulted over an extended period it usually means they are either trying to get out of a contract or just plain taking advantage of you. Either way they have no respect for Squires or regard for QMC. Everyone who has been raving about government backing in Assam, at the very least, should be asking themselves why only half the fee a couple of months late?
I actually hope Squires makes me out totally wrong with many major deals in the coming months. I'd rather profit than be right. But the way he is diluting shares makes it seem otherwise. More like he is rushing to get more outstanding shares before Assam blows up. I'm guessing a few arranged pseudo deals to make naive shareholders ooooh and aaaah to approve the share increase. At this point I'd want to only approve an increase if it accompanied Squires' resignation. I don't trust anyone that doesn't answer questions and is not accountable. I see his presence under those circumstances as toxic to shareholders.
One word on Ferrari-they are very very low volume. Ducati is a low volume cycle. Fiat is the volume player in Italy and the plum contract.
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