If M means 'greater than'; N means 'less than'; O means 'not less than'; P means 'not greater than' and Q means 'equal to', then consider the following statements:

1. If 3x(O)4y and 4x(Q)3z, then 16y(M)9z.

2. If x(N)3y and y(P)z, then x(P)z.

Which of the statements given above is/are correct?