This is one for any fundamentalists to take a look at.
They own part of the US firm Iridium Satellite LLC which due to Katrina and modern living has increased their profits 73% from the same quarter last year.
They are now providing capital repayments that will rapidly reduce QAD's debt.
Iridium are on the market and if sold QAD should be awash with cash.
Secondly, QAD has took a controlling stake in HCT at a bargain price.
And they have got their own businesses.
In terms that traders understand the price has formed a strong base and should take off following a good announcement.