libtool shared libs

I am trying to compile shared libraries for libquicktime. I can compile
static libraries but since libquicktime uses a plugin model for codecs I
need to compile them as shared. Also it would be nice if my execuatble
size is small:-)

Currently I am using libtool 1.5.2, autoconf 2.59 and automake
1.8.5. I have tried different versions from the latest to some of the
older versions. I run aclocal, libtoolize, autoheader, autoconf and
automake (basically in a script). When I run configure after
that for shared libraries I get the following messages:
checking whether the g++ linker (/usr/bin/ntox86-ld) supports shared
libraries… no
checking dynamic linker characteristics…
checking how to hardcode library paths into programs… immediate
checking whether stripping libraries is possible… yes
checking for shl_load… (cached) no
checking for shl_load in -ldld… (cached) no
checking for dlopen… (cached) yes
checking whether a program can dlopen itself… (cached) yes
checking whether a statically linked program can dlopen itself…
(cached) yes

I assume that it means it can build shared object libraries.

When I do make, it says the following…

Warning: inter-library dependencies are not known to be supported.
*** All declared inter-library dependencies are being dropped.

*** Warning: libtool could not satisfy all declared inter-library
*** dependencies of module lqt_png. Therefore, libtool will create
*** a static module, that should work as long as the dlopening
*** application is linked with the -dlopen flag.

Any help on making shared libraries would be appreciated