Sub .5p buys are history. It`s true I tell you.

Maestro

Since your so bullish on QXL or rather, on getting back your lost dosh, try answering the following honestly.

November 2003

Quarterly outgoing expences £

Quarterly Revenue £

Latest Debt position policy?

Now remember, qxl's latest prediction for overall profitability is early 2004. If this is the latest guidence, it is safe to assume that out going quarterly cost will never come down more than say 2.7m. It is also safe to assume that they hope that revenue will increase by something slightly over one million in the next say 15 months or so. With that in mind, don't expect any great
movement on the revenue front in the intrim period. And, if the above is true, how will they deal with the debt.