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.