QUIKTRAK NETWORKS LIMITED(QTK)

company deregistered 15/01/2012

a loss declaration has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued

we would be interested to know how the Administrators of MultiTrak Pty Ltd ended up spinning off its assets to directors of Quiktrak but not the owners (ie. the shareholders who suffered a complete loss of their investment)

we are advised of a new company Vix Quiktrak Pty. Ltd. (ABN: 21 133 593 165) at Unit 22, 25-39 Higginbotham Road, Gladesville, NSW, Australia 2111 Telephone: 1300 885 461 and Fax: 1300 885 471 Email: info@quiktrak.com.au - apparently the QuikTrak network is now up and running under the new ownership of Vix QuikTrak Pty. Ltd - we are informed this new (private) company has the same directors as Quiktrak Networks

we find the following on a forum site - none of it was ever reported to the ASX or to the loyal shareholders of Quiktrak - "the old owner of Quiktrak, Multitrak Pty Ltd was placed into administration in September 2008 - all of its Australian assets were bought back by Vix Quiktrak Pty Ltd which is owned jointly by Dead Guppy Pty Ltd (Pallister Family Trust) and Vix Technology Pty Ltd (Duncan Saville of Utilico) - the previous company had a lot of financial drain due its expansion overseas, this is no longer a factor for Vix Quiktrak which only acquired the companies (sic) Australian assets - Vix Quiktrak have already upgraded and re commissioned the NSW network which is fully operational"

a "Court Order to Wind Up a Company And Appoint a Liquidator" is lodged with ASIC

a "Notification of Appointment of Liquidator By The Court" is lodged with ASIC

a Notification of Application to Wind Up Company Under S. 459p, 462 or 464 is lodged with ASIC

appears the company has changed the address of its registered office (if anyone has contact details we would appreciate them to admin@delisted.com.au)

a "Notification of Dismissal of Application For Winding Up Order" is lodged with ASIC

this is typical of the messages we are getting from shareholders "I have tried to log onto their website but that is now closed. I tried to call their office, but the phone has been disconnected....doesnt look good. I just dont know where to go to now for help"

there was no warning from the following people that QTK was about to be delisted from ASX: Andrew Unterweger, Peter French, Mark Pallister, Philip Penman and Wayne Wanders - in our view that is inexcusable - it is no way to treat loyal shareholders - we note further that the Quiktrak website is no longer operating and the company's telephone is disconnected - so how does the company now propose to keep its shareholders informed of its strategy to discontinue its R & D operations in Australia and focus on the commercial deployment of its existing 3G products and technology in international markets - and what steps is it taking, if any, to have its shares reinstated to quotation?

delisted following failure to pay the annual listing fee

the Board of Directors of QuikTrak Networks Ltd (ASX:QTK) announces that at their most recent strategy review the Board confirmed their strategy for QuikTrak to focus on the commercial deployment of its existing 3G products and technology in international markets, and in South Africa in particular - the company is to spin off its R & D operations in Australia

securities suspended from quotation pending the outcome of discussions with noteholders

shares reinstated to quotation

Mr Mark Pallister resigns as Managing Director and Chief Executive Officer - we note the Australian Securities and Investments Commission last week charged him with fraud - the charges related to dealings between one of Mr Pallister's private companies and a partnership in which it was involved, but did not involve QuikTrak

shares suspended from quotation pending release of an announcement

shares reinstated to quotation following the capital raising

resolutions to issue shares to Mark Pallister and to Multi-Trak Limited were passed at today's general meeting

calls general meeting for 22 July 2005 - among other things a capital issue to the new owners is planned

we understand that on or about this date the company consolidated its shares 1 for 100

last release to the market for this listed company occurred more than 9 months ago!!

we are informed the business is definitely sold, creditors are shortly to be paid a dividend but it is unlikely there will be a return to shareholders - nothing much seems to be happening with the shell

the QuikTrak business has been acquired by Multi-Trak Ltd - this includes the "entire QuikTrak business including; networks in Queensland, New South Wales, Victoria and our Research and Development office in Adelaide" - no mention of the corporate structure!! - Multi -Trak is a 100% Australian company, providing intelligent monitoring solutions - incredibly there has been no announcement of this to the market

we understand the business has been sold - there is only a shell left - there are no present plans to recapitalise the company - shareholders are unlikely to receive a return

Deed of Company Arrangement executed

administrators advise second creditors meeting to be held on 28 July - a Deed of Company Arrangement has been proposed by the directors of the Quitrak group of companies

the consolidation of the company's capital and options on a 1 for 100 basis will occur on 15 June 2004

J Lord and J Morgan of PKF Chartered Accountants appointed administrators and meeting of creditors called for May 17

securities suspended pending an announcement to the market

name changed from Lennard Oil NL