QUANTECH <QANT> NEEDS ADDITIONAL FUNDS
Quantech Electronics Corp said
it is investigating available means of raising additional funds
needed to finance continuing operations, but there is no
assurance that it will succeed.
    The company said it continues to experience negative cash
flow.  Today it reported a loss for the third quarter ended
December 31 of 561,029 dlrs, compared with a 114,712 dlr loss a
year before.
    Quantech said it has received waivers from Marine Midland
Banks Inc <MM> through May 26 on covenants in its loan
agreement.
    The company said Marine Midland has agreed to advance it an
additional working capital loan that will be personally
guaranteed by chairman Henry Ginsburg.  Loans from Marine
Midland are secured by substantially all company assets.
    Quantech also said Bernard Weinblatt has rsigned as
president and a director, and until a replacement is found,
Ginsberg will act as chief executive and Leonard N. Hecht,
formerly chief executive, will act as chief operating officer.
 Reuter
