The company planned to launch the self-proclaimed legal file sharing service at midnight Monday. However, Qtrax proved unable to get at least one of the four companies to sign the final agreements, thus making the launch impossible.

Warner Music Group and Universal Music Group stated on Sunday that Qtrax was far from being out of the legal woods. One day later, Sony BMG and EMI released similar statements.

Qtrax tried to patch its image up in a press release, claiming that the service is up and running, except it doesn’t feature yet the registration keys. But with the registration keys being mandatory if users would like to play songs downloaded from the sharing service, it’s pretty clear how well this so-called “launch” went.

Officially, Qtrax would offer up to 25 million songs from peer-to-peer networks. The songs would be downloaded to the user’s computer, but he would only be able to play them on the Qtrax ad-supported player which would expand and fill the user’s screen. Most probably, the app would be best suited for a secondary computer, only good for playing music.