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r_text[0] = "\"We operate in a small niche sector of the industrial market -- we needed specialized help when it came to selling the Company.  Q Advisors showed us that they had the experience and skills to better our expectations.  From their offices in Denver, they linked a small company in the dark recesses of Australia with a global market leader based in UK.  Well done, Q Advisors!\"<br><br><b>Graham Moss, CEO, ELPRO Technologies";

r_text[1] = "\"It’s pretty simple.  Q Advisors delivered multiple bidders.  They got us a purchase price at the very top of the range.  They got the deal signed and closed faster than anyone expected.  The Q Advisors team did a wonderful job on this transaction and exceeded our expectations in every respect.\"<br><br><b>Warren Heffelfinger, President and Founder, Arrival Communications";

r_text[2] = "\"I would consider using no one else than Q Advisors for similar engagements and recommend them very highly to anyone needing investment banking advice at the highest level.\"<br><br><b>Dan Wagner, Chairman and CEO, Venda";

r_text[3] = "\"Q Advisors was an easy choice when selecting an advisor for this transaction. The depth of knowledge they bring to a transaction in the CLEC industry is unparalleled. More important to us, however, was the tremendous drive and focus and intelligence they bring to the transaction team. They are excellent negotiators as well, and it is clear in everything they do that they value the long-term relationship.\"<br><br><b>Michael Prior, CEO, ATN";

r_text[4] = "\"The results certainly speak to Q Advisors’ capabilities, but from my perspective, that doesn’t tell the whole story. Q Advisors offered a level and range of support that was unique. Feel free to use me as a reference on prospective accounts as you continue to dominate the CLEC marketplace.\"<br><br><b>Kevin O’Hare, President and CEO, Lightship Telecom";

r_text[5] = "\"We have been working with Q Advisors on a number of strategic projects over several years. Selecting them as our M&A advisor for US acquisitions in the North American mobility sector was a simple choice as they bring a wealth of experience and market knowledge to this sector.\"<br><br><b>Barry Sharples, Joint Managing Director, 2ergo";

r_text[6] = "\"We have now hired Q Advisors on three separate occasions to advise us on our critical financing transactions.  In each case, Q Advisors has exceeded our expectations and has been critical to the successful closing of these transactions.  They have consistently demonstrated an ability to quickly understand complex situations and frame well thought out solutions that balance the interests of all stakeholders.  Although there are a number of investment banks that we could hire, we continue to use Q Advisors because of their ability to continuously deliver exceptional results.\"<br><br><b>Mark Adolph, CFO, WildBlue Communications";

r_text[7] = "\"We retained Q Advisors to advise and assist us with our growth strategy.  The Q Advisors team understands our industry and found several quality targets for AT Conference to purchase.  They helped structure and negotiate the transactions on favorable terms to our Company.  When one of the transactions hit a stumbling block, Q Advisors did not cut and run, but worked hand in hand with management to put the deal back together and bring it to a successful conclusion.  We appreciated the hard work and commitment of the team and their ability to work side by side with AT Conference to achieve a great outcome for the Company.  We look forward to future engagements with the firm.\"<br><br><b>David Jannetti, Founder and CEO, AT Conference";


r_text[8] = "\"Q Advisors’ industry insight, financial acumen and analytic abilities helped validate Tech Valley’s business model and proved instrumental in the recent refinancing of our Company.  Their advice and counsel was at the same time strategic and practical, and resulted in our securing a senior credit facility at favorable rates and with reasonable conditions.  This will allow Tech Valley to build-out our fiber network and restructure our balance sheet.\"<br><br><b>Kevin O’ Connor, CEO Tech Valley Communications";


r_text[9] = "\"We worked with the Q Advisors team for several years on a number of engagements and when it came time to sell our Company we felt very comfortable entrusting them with the sale mandate. Not only did they know our company well but Q Advisors knew the marketplace and the right buyer for our business. In one of the worst economic climates in memory, the Q Advisor team was able to sell Globalcom in an all-cash deal at an attractive valuation.\"<br><br><b>John T. Shave, CEO and Founder Globalcom";

r_text[10] = "\"The Q Advisors team delivered a great view of the possible landscape of buyers, complete analysis, outstanding direction with regard to the due diligence process and requirements and most importantly, timely results. Their attention to detail and understanding of the big picture were instrumental in our getting the deal we completed.\"<br><br><b>Greg Prow, CEO, Planitax ";

r_text[11] = "\"For several years, Q Advisors has been an invaluable resource to the executive management and Board of Switch Communications in identifying and qualifying financing opportunities and providing insightful and timely analysis of key competitive business metrics and trends.  As investment bankers and advisors with first-hand technology and telecommunications experience, they have an uncommon understanding of the data center industry and its valuation model.\"<br><br><b>Darren Adair, CFO, Switch Communications";

r_text[12] = "\"We selected Q Advisors to represent us after speaking with a number of different investment banks.  We chose to work with Q Advisors based upon their deep knowledge of the telecom space, in general, and the metro fiber sector, in particular.  Their financial and operational expertise helped us attract a great new shareholder in Riverside Partners, at an attractive valuation. The Q Advisors team provided us with senior-level attention throughout every stage of the process and consistently delivered on what they promised our board and shareholders. We look forward to a continued relationship with them as we grow our business.\"<br><br><b>Kevin O’Connor, CEO, Tech Valley Communications";

r_text[13] = "\"Working with the Q Advisors team was what we had hoped for as an early stage marketing technology company. They provided senior level attention, sound structuring advice and helped us get a financing transaction done on favorable terms.\"<br><br><b>Nicole Skogg,</br>President &amp; Co-Founder</br>SpyderLynk";

r_text[14] = "\"Gerry DeHaven has worked closely with my team for years and has been an invaluable resource. He has a great understanding of the telecom landscape and, importantly for our M&A strategy, is very well connected within our industry. We worked closely with Gerry to establish our M&A strategy and he did a great job identifying and assessing companies that fit our long term objectives. The Cypress transaction establishes Broadvox as one of the leading hosted unified communications companies and is a direct result of Gerry’s efforts. The Broadvox team looks forward to our continued association with him and Q Advisors.\"<br><br><b>Andre Temnorod, CEO, Broadvox";

r_text[15] = "\"The team at Q Advisors worked closely with us every step of the way to get our financing and strategic relationship closed. They helped smooth out the rough spots that occurred along the road and their team was always available to support us despite the large time-zone differences. We look forward to working with them on future transactions.\"<br><br><b>Domenico Surace, CEO Mobile Tag SAS<br><br>Chip Hoffman, CEO Mobile Tag Inc.";

r_text[16] = "\"We selected Q Advisors as our financial advisor after meeting with a number of telecom investment banks. The firm stood behind their commitments and ran a very competitive process and delivered an attractive valuation for our fiber business. The Q team was involved in every step of the transaction and gave us the level of support needed to get a complicated deal across the finish line. We look forward to working with them again.\"<br><br><b>Matt Murphy, President, Grande Communications";

r_text[17] = "\"The Q Advisors team brought a tremendous amount of transactional and operational experience to our telecom transaction. They have a complete understanding of the strategic nuances of the telecom industry and are very adept at positioning companies with the right strategic operators and investors. Importantly for our shareholders, the Q Advisors team was very knowledgeable in all aspects of the deal process including modeling, structuring and negotiating the final agreements. We initiated the process with high expectations and their blend of skills helped us achieve a very strong valuation and a favorable contract with EarthLink. We would highly recommend the talented Q Advisors team.\"<br><br><b>Mark Amarant, Founder and CEO, STS Telecom";

r_text[18] = "\"We have worked with the Q Advisors team for a number of years on several assignments. We have valued the efforts of the team, their enthusiasm and knowledge of the market. Their assistance on the Abry Partners transaction facilitated the deal and we look forward to working with them in the future.\"<br><br><b>Jeremy Katz, Vice President, segTEL";

r_text[19] = "\"Q Advisors played an instrumental role in structuring, negotiating and closing this important strategic transaction for us. The team was available 24/7 and gave us the senior- level attention promised by them in our first meeting. Well done.\"<br><br><b>Rob Bodnar, CFO, Masergy";

r_text[20] = "\"We knew how to make medical products, but we didn’t know much about selling a company.  People warned us that the process would be difficult, but choosing the right team makes all the difference in the world.  The Q Advisors team walked us through the whole procedure - prepared effective marketing materials, connected us with the right potential buyers, managed a competitive auction that generated multiple offers, and helped us negotiate the sale documents.  Throughout the entire process they provided senior-level attention and objective advice that was crucial to a successful outcome.  I have the utmost respect and admiration for Q Advisors’ work and can say with absolute confidence that if you hire them, you’ll get a team that will represent you to the highest standards.\"<br><br><b>Ken Jarrell, President, Summit Doppler Systems, Inc.";

r_text[21] = "\"Q Advisors played an instrumental role in structuring, negotiating and closing this critical transaction for us. The team’s deep experience in cross-border transactions was crucial as they provided invaluable advice throughout the long, and often challenging, process.  Given the complexities of this transaction, getting to the finish line proved to be much more difficult than originally imagined. The Q team never wavered and stood beside us every step of the way, including finding interim financing solutions.  They exceeded our expectations and put a permanent financing in place that will give us a competitive advantage for years to come.  Thank you, Q Advisors!\"<br><br><b>Alek Krstajic, CEO, Public Mobile";

r_text[22] = "\"When it came time to select a banker to help us pursue a strategic transaction we felt it important to select a firm that would act as our partner and provide not only market knowledge but negotiating and strategic support.  Q Advisors delivered on their commitment to segTEL. The entire Q Advisor team was with us every step of the way and provided critical advice and help as we negotiated a complex deal that was beneficial to all parties involved.\"<br><br><b>Jeremy Katz, President, segTEL";

r_text[23] = "\"Q Advisors stood side by side with me in dealing with every stakeholder in the transaction process – prospective investors, existing investors, staff and Board members. I relied on them for advice and cadence in addition to the heavy lifting capital raising requires.  They are not only experts but great people who were instrumental in shaping a successful outcome for us.\"<br><br><b>Chip Kahn, Founder and CEO, IP Commerce";

r_text[24] = "\"In evaluating and pursuing strategic alternatives we wanted a partner who understands our market, is motivated to collaborate in realizing our goals and willing to do so at the appropriate pace.  Q Advisors is just that firm. First in helping us through an acquisition to accelerate our growth, later as the exclusive advisor in the sale of the company, the team at Q Advisors worked with us competently, professionally, and held our interests first, last and always.\"<br><br><b>John Elms, President and CEO, SpectraLink Corporation";

r_text[25] = "\"We started the assignment with high expectations and they were met.  The Q Advisors team was well rounded with the right blend of skills needed.  We wound up with a very strong valuation and a favorable contract.\"<br><br><b>Tony DiStefano, CEO, Arrival Communications";

r_text[26] = "\"For me, the decision to hire Q Advisors was all about the intuitive sense that we were going to be working with people who cared not only about a successful transaction, but also about shared values with the client. Q Advisors proved that in spades and their passion for their work and the integrity they demonstrated meant a great deal.\"<br><br><b>James Houghton. Partner, Megunticook Management";

r_text[27] = "\"Q Advisors helped us in ways beyond the norm as we entered into a transaction in very difficult economic times. While we were a seller in a great buyer’s market, Q Advisors was able to bring multiple buyers to the table and keep them engaged while they helped us with the evaluation as to who should prevail.\"<br><br><b>Greg Prow, CEO, Planitax ";

r_text[28] = "\"We thank Q Advisors for their sterling effort in the sale of our investee company, ELPRO Technologies.  We congratulate them on their expert approach to the task and their integrity shown throughout the process; they are certainly a quality firm.  We would engage them again and we recommend them without reservation.\"<br><br><b>Bruce Scott, Managing Director, NBC Capital";

r_text[29] = "\"We have developed a valued relationship with Q Advisors over the years starting with the Tertio acquisition in 2004.  Q Advisors’ knowledge of our capital structure, as well as their knowledge of the technology lending environment, made them the perfect choice for us when we decided to refinance our senior debt.  Our respect for Q Advisors for the help they have provided us over the years is matched by the high regard in which they are held by the lending community.  Those relationships helped us complete a refinancing that significantly improved our capital structure.\"<br><br><b>Brian Ervine, CFO, Evolving Systems";

r_text[30] = "\"The team at Q Advisors worked closely with us every step of the way to get our first deal closed in a very timely fashion.  They worked on every aspect of the transaction including modeling, structuring and negotiating the debt and acquisition agreements.  Their team was always a quick phone call or email away and while I know they were working on other transactions, it always felt like they were full time on ours.  We are in growth mode and already working on the next transaction.\"<br><br><b>David Goldsmith, CEO, CP Communications";

r_text[31] = "\"We engaged Q Advisors to assist us with the sale of Ringtone.com because of their knowledge of the mobile content market and their ability to get deals done smoothly and efficiently. They drove the transaction forward and let management concentrate on running its core business. Despite the current market conditions in our space and the global economy, Q Advisors found the right buyer for the company, put together a deal on attractive terms for W3i and our shareholders and moved us from LOI to close quickly.\"<br><br><b>Andy Johnson, CEO, W3i (parent of Ringtone.com)";

r_text[32] = "\"Q Advisors helped us to focus our business and our plans. Their expertise and commitment were critical in gaining the greatest value for our shareholders, and the most appropriate, long-term, strategic merger partner for our business.\"<br><br><b>David Friedersdorf, CEO, bConnected Software";

r_text[33] = "\"From start to finish, we valued Q Advisors’ leadership, persistence, and guidance to get the deal done.\"<br><br><b>Mike Kronenberg, CEO, Novatix Corporation";

r_text[34] = "\"As an intermediary, Q Advisors displayed the highest levels of independence, experience and offered extremely valuable advice in our negotiations. Ultimately, Q Advisors was the catalyst that made this transaction happen.\"<br><br><b>John Tredennick, CEO, CaseShare Systems";

r_text[35] = "\"Our Board includes veteran Silicon Valley venture capitalists, so we debated whether retaining an investment bank would broaden our fund-raising reach.  In the end, however, Q Advisors connected us with a high-quality investor that wasn’t part of the Board’s network of relationships; that firm delivered a competitive, well-balanced proposal and closed on those terms.\"<br><br><b>Greg Oslan, CEO, Narus";

r_text[36] = "\"We work with dozens of investment banks and M&A advisors every year. There is a fine line between running a very competitive process for the client and turning off potential buyers with lengthy NDAs, limited access to management, unnecessarily constrained due diligence rules, and the like. The process that Q Advisors ran here was as effective as any we've seen.\"<br><br><b>Jeffrey Chambers, Managing Director, TA Associates";

r_text[37] = "\"We engaged Q Advisors to manage the targeted sale of our closely-held business.  In the end, we accepted an attractive, pre-emptive offer, and the discipline that Q Advisors brought to the process was instrumental in maximizing the terms of the transaction and the speed with which it closed.\"<br><br><b>Richard Slack, CEO, Bolo Systems";

r_text[38] = "\"Q Advisors was instrumental in the success of the iM&I funding. In providing value ranging from strategic early-stage advice in positioning the company, to the design of the business model, Q Advisors was actively involved in getting iM&I to a successful closing.\"<br><br><b>Kirk MacDonald, CEO, iM&I";

r_text[39] = "\"We retained Q Advisors to assist us with the FDN merger and related financing due to their knowledge of the CLEC market, our five years of experience working with the Q team and their willingness to always be there when needed. Needless to say we were not disappointed. We appreciated the hard work and commitment of the team and their ability to work side by side with the NuVox management team to achieve a great outcome for the Company.\"<br><br><b>Steve Shoemaker, CFO, NuVox Communications";

r_text[40] = "\"Q Advisors did a great job finding the best possible partner for Lochard.  Their commitment to really understand our business and rigorous preparation were a real advantage, while their approach to the market and negotiation of the deal structure led to a great result in difficult economic conditions.\"<br><br><b>Martin Adams, CEO Lochard";

r_text[41] = "\"We found the perfect Investment Banker when we chose Q Advisors for assisting us in evaluating and executing on our exit strategy.  We needed an advisor that understood the telecommunications market and could guide us through the challenges of running a process and completing a sale.  In addition, Q Advisors’ organizational, analytical and negotiation skills were a large reason why our acquisition was completed.\"<br><br><b>Eric Wince, COO Globalcom";

r_text[42] = "\"Q Advisors was professional, knowledgeable, and, most importantly, helped us find motivated buyers and achieve a strong valuation with favorable terms.  I would highly recommend them.\"<br><br><b>Keith Maddox, CEO and Co-founder, Infinite Conferencing";

r_text[43] = "\"When Evolving Systems selected Q Advisors as our investment banking partner, we saw that most of the Q Advisors partners had experiences from inside of companies and could relate to not only getting a deal done, but the challenge of making sure it was the right fit.\"<br><br><b>Stephen Gartside, President and CEO, Evolving Systems";

r_text[44] = "\"How refreshing to work with an investment banking firm that puts integrity and client needs above all else.  Q Advisors listened to our goals and throughout the process focused first and foremost on what was best for us.\"<br><br><b>Jennifer Kronenberg, President, SendPhotos";

r_text[45] = "\"One of the nice things about working with Q Advisors is that we dealt exclusively with experienced people no junior associates with limited deal experience. What sets the Q team apart is their personal integrity and, frankly, their likeability. The more we have worked with them, the more we have come to respect them. We have come to think of them as friends as well as business associates, and I wouldn't hesitate recommending them to our portfolio companies.\"<br><br><b>Jeffrey Chambers, Managing Director, TA Associates";

r_text[46] = "\"We engaged Q Advisors earlier this year to help us review strategic alternatives in the cloud services arena. They have provided creative advice and strategic counsel and were instrumental in helping us structure and negotiate the CTI acquisition. We look forward to working with them on future growth and financing opportunities.\"<br><br><b>Joe Gillette, President and CEO, Stage 2 Networks";


r_text[47] = "\"Q Advisors was instrumental to Arkadin in closing a strategic transaction that significantly increased our U.S. market share. The Q team is professional, delivered great advice and value to our team and made the transaction smooth and fun. We look forward to working with Q Advisors again on other strategic opportunities.\"<br><br><b>Alexis Cornu Thenard, CFO, Arkadin S.A.";




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