QUANTECH &lt;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 &lt;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.
  

