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QDR: inbox
QDR: inbox
QDR: inbox
This flying pig is heading for $1, sell all QTMM and jump ship and move on, if you spend all your time here you will miss a fortune.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=MILV&x=42&y=8&time=7&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
Stephen must be jumping for joy with the trend of the share price heading below 2 cents again.
http://bigcharts.marketwatch.com/kaavio.Webhost/charts/big.chart?nosettings=1&symb=QTMM&uf=0&type=2&size=2&sid=4700466&style=320&freq=9&entitlementtoken=0c33378313484ba9b46b8e24ded87dd6&time=2&rand=546250737&compidx=aaaaa%3a0&ma=0&maval=9&lf=32&lf2=1&lf3=2&height=553&width=579&mocktick=1
Update on the India licensing deal and the status of construction in the Tech City.
June 13 News Release
http://www.globenewswire.com/news-release/2019/06/13/1868261/0/en/Quantum-Materials-Corp-Announces-1-Million-Order-for-Two-High-Volume-Quantum-Dot-Production-Systems.html
July 23 Press Release
http://www.globenewswire.com/news-release/2019/07/23/1886306/0/en/Quantum-Materials-Corp-Update-on-Construction-Progress-of-QD-Facility-at-Tech-City-Project-in-Assam-India-and-Associated-High-Capacity-Quantum-Dot-Production-Equipment-Orders.html
Oct 24 Press Release
http://www.globenewswire.com/news-release/2019/10/24/1935154/0/en/Quantum-Materials-Corp-Provides-Update-on-Expansion-of-Tech-City-in-Assam-India.html
- The 2 reactors were reported to be shipped before end of June
- No news of reactors shipped or received
- No news of money received
- No picture of ongoing construction
- No more update on Tech City project after the Oct 24 PR
- Amtronics's production plant is supposed to be completed in November
- Financial Reports not filed, seems the management has given up hope
- Delisted to the Pink Sheet considered as a high risk market
- Share price plunging to 2.2 cents (or to sub-penny level?)
Aerial video published on November 26, 3 weeks ago shows no building or ongoing construction anywhere in the Tech City except the Common Facilities Centre (the two look-alike buildings at the centre near IIIT)
November 26, 2019 GO AIR AIRBUS A320 neo landing in Guwahati Lokpriya Gopinath Bardoloi International Airport:
Modi Risks Losing Focus on Indian Economy as Protests Build
By Karthikeyan Sundaram and Anirban Nag
December 13, 2019, 1:30 PM EST Updated on December 14, 2019, 12:57 AM EST
https://www.bloomberg.com/news/articles/2019-12-13/modi-risks-losing-focus-on-indian-economy-as-protests-build
Delinquent SEC Reporting
https://www.otcmarkets.com/stock/QTMM/quote
Quantum Materials Corp.
Common Stock
0.0259
-0.0047
-15.36%
0.0225 / 0.0259 (1 x 1)
Warning! This company may not be making material information publicly available
Buying or selling this security on the basis of material nonpublic material information is prohibited under Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 thereunder. Violators may be subject to civil and criminal penalties.
http://bigcharts.marketwatch.com/kaavio.Webhost/charts/big.chart?nosettings=1&symb=QTMM&uf=0&type=2&size=2&sid=4700466&style=320&freq=8&entitlementtoken=0c33378313484ba9b46b8e24ded87dd6&time=3&rand=859250072&compidx=aaaaa%3a0&ma=0&maval=9&lf=32&lf2=4&lf3=2&height=553&width=579&mocktick=1
Plunging to sub-penny! There is no construction in the Tech City! The deal in India is dead.
Ted:
If if is not, then we have a serious problem.
Very strange, I posted on 10:23 am and this articled was posted at exactly the same time (UK time 14:23 pm = 10:23 am ET + 4). The writer may know what is going on.
https://www.coindesk.com/even-if-a-thousand-projects-dont-make-it-blockchain-is-still-a-change-catalyst
QDR: inbox.
May be not only new partners but a dozen of new QD licensees, that is what QMC's business is all about. Partners only support operation, but licensees are the important ones that provide sustainable revenues and enhanced shareholders value. QMC does not establish "contracts", it establishes "licensing agreements". QMC does not own and patent QD OEM products, it co-operates with development partners to create those products that will require quantum dots from QMC's QD licensees.
Here is a basic calculation, share price depends on numerous factors.
QMC has low operating cost, it does not need much to send share price over $1. The only wildcard is P/E ratio, it may start with small number but as quarterly revenue becomes consistent, P/E ratio can rise, thus accelerating share price.
Projected share price depends on revenue, operating cost, share outstanding and P/E ratio.
Here is an example:
For each licensee, annual quantum dot sales of 1 tonne (1 million grams) at $50 per gram, each licensee's annual sales will be $50 million.
5% royalties = $2.5 million
Total annual royalties from 10 licensees: $25 million
Annual Revenue: $25 million
Annual operating cost: $7 million
Annual Net Earnings: $18 million
S/O: 750 million
Earning per share: $0.024
P/E ratio: 72 (assume same as UDC's)
Projected share price: $1.72
Projected market capitalization: $1.3 billion
Stay alive and enjoy your multi-million dollar, travel around the world in 365 days in a big cruiser or in a big yacht.
Eat, drink and be merry, for life is short.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=152743510
Stephen Squires (March 19 PR): "Our partnership with Amtronics CC is an important step in expanding the value of the QMC franchise globally" ....... Anti-counterfeiting, Solar, Display, QD LED Lighting.
QMC was formed on January 9, 2007, if it will take 25 years to achieve a market cap of $9.4 billion just like UDC, share price will hit $12.50 in 2032. But assume it will achieve it in 2029, 3 years earlier than UDC.
https://sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00027768
2007 to 2019: Incubation period, sustainable revenue begins in 2020
Dec 31, 2020: $1.25
Dec 31, 2021: $2.50
Dec 31, 2022: $3.75
Dec 31, 2023: $5
Dec 31, 2024: $6.25
Dec 31, 2025: $7.50
Dec 31, 2026: $8.75
Dec 31, 2027: $10
Dec 31, 2028: 11.25
Dec 31, 2029: $12.50 Market Cap $9.4 billion ($12.50 x 750 million shares outstanding), emulating UDC's market cap of $9.4 billion
Remember history, share price did not respond to JV, licensing agreement, contracts ....., any deals may only cause price to run up to 5 cents then back to 3 cents as excitement subsides, share price responded euphorically only to NEWS of REVENUE which will show up on Feb 14 Report or May 15 Report. If QMC will achieve sustainable revenue and will achieve a market cap of $9.4 billion 10 years from now, it's market cap will increment average $920 million per year or share price will increment $1.25 per year:
Dec 31, 2020: $1.25
Dec 31, 2021: $2.50
Dec 31, 2022: $3.75
Dec 31, 2023: $5
Dec 31, 2024: $6.25
Dec 31, 2025: $7.50
Dec 31, 2026: $8.75
Dec 31, 2027: $10
Dec 31, 2028: 11.25
Dec 31, 2029: $12.50 Market Cap $9.4 billion ($12.50 x 750 million shares outstanding), emulating UDC's market cap of $9.4 billion
So I think quite many of us will still be around to harvest the juicy fruits.
Leave your shares to your children, they will be the future multi-millionaires, not you. You won't live to see the money.
Rome is not built in one day. It took Universal Display Corp 25 years to achieve current market cap of $9.4 billion. It took Intel corp 51 years to achieve current market cap of $248 billion. If the counterfeit operation will succeed and prosper, probably QMC will emulate UDC within 10 years but many of current retirees will not live to see it.
Blockchain is only a software used to monitor the company licensees' sales to ensure fair royalties payment, it is also used to monitor flow of products from manufacturing to the customers, it is not a company maker, QD security ink in Counterfeit, QD Solar, QD Display, QD LED Lighting .... are company makers. More the QD application products, more the sales of our QD licensees and more QMC's royalties revenues. The company may sell its proprietary QD Blockchain software to brand name companies worldwide for their own application too, such as monitoring their products from manufacturing to their customers.
No, share consolidation is not a good strategy for shareholders will lose as much as 90% of their shareholding in a 10 to 1 consolidation. Only if the management sees no revenue for the next few years and the Authorized Shares hits the limit of 750 million shares that the company has only 2 options: raise A/S to 2 billion or consolidate share back to 75 million shares in a 10 to 1 consolidation. But the company has already entered the revenue phase with a projected $7 million to $10 million revenue in 2020 plus potential more royalties from new licensees in the QD-Blockchain-Counterfeiting operation. Share dilution has already stopped and there is no need for share consolidation. In the long run, QMC will emulate at least UDC and will has billions of share outstanding anyway, then why reverse split?
I see. No need to argue about it, QD Blockchain will be a huge success. In May I already commented that the chart pattern was extremely bullish, something big is coming but I didn't know what it is, then with the August 15 news, I know that something big is QD-Blockchain-Counterfeiting operation. You see, chart is not only a historical record, it forecasts the future. Stephen is inundated with interest from brand name companies and potential QD licenses from around the world, that is a sign that his vision of global franchise will become a reality.
That is odd, no shares issued in November, but 6 million shares were issued in the past few days in December, does that mean the company still has not received money from Amtronics? It does not feel right.
Share Outstanding
December 31, 2018 - 492,313,256
March 31, 2019 - 541,656,945
June 5, 2019 - 583,142,140
July 11, 2019 - 583,348,120
Aug 6, 2019 - 593,786,818
Sept 4, 2019 - 623,829,540
Oct 8, 2019 - 630,343,896
Dec 5, 2019 - 636,480,259
S/O increased 144 million in the past 12 months average 12 milllion per month. If diluting at the same rate of 12 million per month, S/O will hit the Authorized Share limit of 750 million in September 2020.
Counterfeit parts pose safety harzard and can kill
Counterfeits Can Kill DVD
Failed break from the November convergence, looks like a buy signal, sharp breakout on the up side is imminent. Load up, 3.5 cents to 4 cents next week.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=QTMM&time=7&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=2&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10&x=33&y=5
Quantum Materials Corp - Fundamentals and Chart Technicality
Fundamentals:
- Amtronics's production plant is being completed
- The 2 micro reactors have been received by licensee Amtronics
- Payment of $1 million for licensing fee and $1 million for the reactors has been received or is being received by QMC
- No shares were issued in November to cover operating expenses may mean the company has received money from licensee Amtronics.
- 2019 Calendar Q4 10Q due on February 14, 2020 will report revenue of at least $2 million. In the past revenue news drove price up drastically every time.
- Amtronics's quantum dot production will begin in 2020 Calendar Q1
- In 2020 QMC will receive payments from further sales of ancillary equipment, from Milestone event and from technological support totally $7 to $10 million.
- Minimum royalties will begin in 2021
- Global franchising of QD production IP for Anti-counterfeiting QD labels, Solar, Display and Solid State QD LED Lighting.
Stephen Squires: "Since Quantum Materials announced its anti-counterfeit focus, we've been inundated with interest in and questions about our quantum dot/blockchain approach to addressing the global criminal enterprise of counterfeit goods"
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Technicality:
Bullish and Bearish Head-And-Shoulder patterns:
https://c.mql5.com/6/8/hhhh.jpg
QTMM weekly 1yr
http://bigcharts.marketwatch.com/kaavio.Webhost/charts/big.chart?nosettings=1&symb=QTMM&uf=0&type=2&size=2&sid=4700466&style=320&freq=2&entitlementtoken=0c33378313484ba9b46b8e24ded87dd6&time=8&rand=1338907045&compidx=aaaaa%3a0&ma=0&maval=9&lf=32&lf2=2&lf3=1&height=553&width=579&mocktick=1
History:
Based on above fundamentals and technicality:
3-month price movement scenario (just for fun, don't take it seriously)
Weekly price chart prediction as of Dec 4, 2019
Monthly price chart prediction as of Dec 4, 2019
Based on what fundamentals and technicality do you make your prediction? How is your past trading record? Have you achieved an early retirement by guessing the uncertain short term swing?
In an analogy, if an airplane pilot navigates his plane without various instruments and indicators but only by guessing and by hunch, he will end up in crash-and-burn. Unless one has a proven successful short term trading system with reliable buy signal and sell signal to guide him in and out of the market, in the long run no gambler ever came out of a casino alive.
Short term movement: up .... down.....up.....down.....up......down.....
Long term movement: either down to $0.00000001 or up to $$$$, share price will not stay at 3 cents or 5 cents FOREVER.
1) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=QTMM&x=48&y=12&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
2) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=CCLX&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
3) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=GNOW&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
4) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=LNCLF&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
5) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=BIEL&time=12&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=3&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10&x=0&y=0
6) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=SHMP&time=12&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=3&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10&x=0&y=0
7) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=FPVD&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
8) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=AEXE&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
9) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=BONTQ&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
10) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=RIHT&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
11) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=SNPW&x=53&y=11&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
12) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=CBBT&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
13) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=ABCE&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
14) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=HEMP&x=57&y=11&time=11&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
15) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=ASTI&time=10&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10&x=51&y=10
16) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=IFUS&x=0&y=0&time=12&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=3&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
Information for new shareholders not familiar with the lawsuits
2018 10K (filed on October 16, 2018)
Scroll down to Page 13: Item 3 Legal Proceedings
https://www.sec.gov/Archives/edgar/data/1403570/000149315218014503/form10-k.htm#a_006
The case of lawsuit against QMC:
The Company was served in Hays County, Texas in a complaint for breach of contract in February 2017. In April 2017, the Company settled this complaint for $129,000 payable over a four-month period. As of the filing date of this Form 10-K, the balance in arrears is approximately $53,000 plus interest and other charges which has been accrued at June 30, 2018. The Company repaid $237,300 in principal plus interest to L2 Capital LLC and $101,700 plus interest to SBI Investments LLC on September 30, 2017, and $149,555 plus interest to L2 Capital LLC and $64,095 plus interest to SBI Investments LLC on November 3, 2017, respectively.
CAUSE NUMBER 17-2033; Hays County, Texas
Two lenders, SBI Investments LLC, 2014-1, and L2 Capital, LLC, asked the Company’ transfer agent, Empire Stock Transfer, Inc., to set aside fifty-million (50,000,000) shares of stock as collateral for four loan agreements the Company had entered into in late March 2017. This joint request occurred despite the fact that or about September 30, 2017 Quantum had repaid $339,000 (plus accrued interest of $10,170) on two of the loans. Subsequently, in November 2017, the Company also repaid $213,650 and $8,636 of accrued interest on two of the remaining loans on their due dates.
Quantum filed suit for an injunction to stop the release of the stock on September 28, 2017. The two lenders, SBI Investments LLC, 2014-1 (SBI), and L2 Capital, LLC (L2), hired the national law firm of K&L Gates to stop the injunction; problematically, this same firm had previously represented the Company. The Company filed a motion to disqualify the law firm for that conflict, and they subsequently withdrew.
SBI and L2, with new counsel, and Cleveland Terrazas PLLC, brought suit against the Company on October 10, 2017 for $1.5 million on the four notes that had been repaid and were not in actual default, though SBI Investments LLC, 2014-1, and L2 Capital, LLC claimed technical defaults. The court in Hays County granted the Company’s temporary injunction and set the full case for trial. The next day, SBI Investments LLC, 2014-1, and L2 Capital, LLC dismissed their suit against the Company and refiled similar actions in Kansas and Florida on the notes claiming that one note was paid on a Monday when it was due on a Sunday, demanding late payment in stock (they refused cash), and another was paid on a Friday when it was due Saturday, claiming a pre-payment penalty. All three suits are related to the same transactions. The lenders claim 140% interest, attorney’s fees, 20 million shares of stock, and damages. The Company maintains all loans have been paid timely.
The Company denies all the above-mentioned allegations and will vigorously defend all claims.
CAUSE NUMBER: 17CV06093; Johnson County, Kansas
The Kansas lawsuit, instituted on October 30, 2017, is based on the same nucleus of facts. The putative default is the failure to properly and timely file a Form S-1 with the SEC. Three causes of action are alleged: the first is breach of contracts regarding the Registration Rights Agreement against the Company; the second claim is for breach of contract of the first L2 promissory note against the Company; the final claim is for breach of contract regarding the second L2 promissory note against both the Company and Stephen Squires, individually.
The Company denies all the above-mentioned allegations and will vigorously defend all claims.
CAUSE NUMBER: 2017-025283-CA-01; Miami-Dade County, Florida
The Florida lawsuit, instituted on October 30, 2017, largely mirrors the suit in Kansas; defaults are alleged as follows:
On July 6, 2017, the Company filed a revised Form 10-Q/A report (the Report) with the SEC, restating its financial statements. In comparison to the unrestated financial statement previously filed by the Company, SBI alleged that the Revised Report materially and adversely affects SBI’s rights with respect to the notes, constituting a breach of each of the notes. Furthermore, because each note contains a cross-default clause, SBI alleged that each of the Company’s breaches of a specific note also constituted a breach of every other note.
On July 27, 2017, the Company’s auditor resigned, and the Company replaced its auditor without seeking or obtaining the consent of SBI. SBI alleged that this replacement of the Company’s auditor constituted a breach of the SBI notes, and because each note contains a cross-default clause, of every other note.
The Company denies all of the above-mentioned allegations and will vigorously defend all claims.
The case was reheard in late March 2018 and a 45-day continuance was decided resulting in an April 30, 2018 rehearing. After a day of litigation in San Marcos, the Company’s motion to enjoin L2 and SBI and prevent them from obtaining stock before a full trial on the merits was granted on October 27, 2017, by Judge Gary Steel. L2 and SBI objected to the injunction and appealed to the Third Court of Appeals in Austin, TX. On March 8, 2018, in a unanimous opinion, the Third Court of Appeals denied the appeal, sustained the injunction in favor of the Company and awarded costs of court.
On March 29, 2018, at a discovery hearing, wherein the Company asked the court to order L2 and SBI to produce evidence to support their positions, L2 and SBI requested and received a stay of litigation, postponing the trial date of April 2018, which they had previously requested, and also postponing discovery until rulings in Florida and Kansas, or until further order of the court. The court also announced that when Florida and Kansas have spoken, discovery will be expedited. A jurisdiction hearing for the Florida case on August 15, 2018 resulted in the lawsuit being dismissed and a hearing is scheduled in Kansas in April 2019.
The Company expects to successful in the L2 and SBI litigation. The ultimate outcome is not determinable and as such, no liability has been recorded for this contingent liability at June 30, 2018.
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https://www.law.com/texaslawyer/2018/10/17/texas-malpractice-suit-vs-kl-gates-claims-firm-abandoned-then-sued-a-client/
QMC sues K&L law firm for $100 million for malpractice
A short-lived client relationship in Texas has K&L Gates facing conflict claims, though the litigators involved, including one who is now a clerk for U.S. Supreme Court Justice Neil Gorsuch, have already left the firm.
Quantum Materials Corp. of San Marcos filed a lawsuit against the firm in Hays County district court on Tuesday, alleging that it engaged in a conflict of interest, representing both the business and its lenders in a dispute over a loan that caused Quantum to be sued in three states.
Quantum Materials, a company that manufactures tetrapod quantum dots for use in lighting applications, alleges in its petition that it engaged K&L Gates as counsel in 2016 to do corporate work, including drafting documents for a prospective lender. The company later shifted that legal work in-house, but maintains in the petition that K&L Gates never formally resigned from the representation and still remains legal counsel to Quantum.
The company is seeking monetary damages of just $100,000, but argued that punitive damages 1,000 times that amount should be awarded. Lawyers for Quantum argued that such hefty damages would deter other large firms from engaging in the type of conduct the suit alleges.
“Predatory lenders prey on financial difficulties. A predatory law firm can prey on the concept of justice itself,” the complaint says.
According to the complaint, Quantum retained K&L Gates as legal counsel in late 2016. As part of the arrangement, the filing said, K&L Gates attended board meetings and reviewed “highly confidential corporate secrets.” The law firm charged about $100,000 a month for the work, the filing said.
Some time later Quantum replaced its entire board and transferred all legal work back to its own corporate counsel. But K&L Gates, “to this date, has never formally resigned from representing Quantum, and has remained legal counsel to Quantum,” the company claimed.
In 2017, Quantum borrowed money and issued promissory notes to lenders SBI Investments and L2 Capital. A dispute between the company and the lenders later arose, prompting Quantum to file a lawsuit requesting temporary injunctive relief. The lenders in turn claimed damages against Quantum and opposed its request for temporary injunctive relief.
The petition on SBI’s and L2's behalf was signed by lawyers Gregory Sapire and Jeffrey Quilici, the complaint said. At the time, Sapire was a partner at K&L Gates, and Quilici was an associate. Sapire since made a move to Cleveland Terrazas, a small local firm, and Quilici now is a judicial law clerk to Gorsuch in Washington.
Sapire and Quilici are not named as defendants in Tuesday’s suit.
At an October 2017 hearing, Quantum raised the issue of a conflict, and Sapire and Quilici denied that Quantum had ever been a client of their firm, the filing said. ”K&L Gates refused to voluntarily step down and demanded depositions and a hearing to argue their right to continue suing their own client,” Quantum alleges.
Quantum filed a motion to disqualify K&L Gates from the litigation, but the firm withdrew from the lawsuit a day before the trial court was to set to hear the motion, according to the petition.
According to the complaint, it was under K&L Gates’ guidance that SBI and L2 seized $500,000 worth of shares from Quantum, “alleging frivolous ‘defaults.’” The defaults included prepayment penalties for submitting a payment a day early, late payment penalties for submitting on Monday a payment due Sunday, and a penalty for the company’s accountant quitting, the complaint alleged.
“It appears that at least some of the alleged ‘defaults’ may have actually been started by K&L Gates when they did legal work for Quantum,” the complaint said. “In other words, K&L Gates was suing their client, Quantum, ostensibly arguing absurd technical ‘defaults’ that were in part created by presumably legal malpractice or fiduciary violations possibly done by K&L Gates.”
The petition alleges that K&L Gates is demanding $300,000 from Quantum in payment for legal fees.
The lawsuit asserts legal malpractice, breach of fiduciary duty and deceptive trade practices as causes of action.
The matters with SBI and L2 resulted in litigation in Texas and Florida, which resolved in Quantum’s favor, and in Texas, which is still ongoing, the complaint said.
“My client hired K&L Gates with the logical expectation that the firm would work in Quantum’s best interests. Instead, the actions of the law firm have created financial harm to this company and its shareholders,” said Michael Minns, a Houston attorney who represents Quantum.
Mike Rick, associate director for PR and communications for K&L Gates, said the firm does not comment on pending litigation.
Sapire and Quilici did not respond to calls seeking comment Wednesday.
After all, the main motive of the two lenders and K&L firm is to create artificial crisis to depress share price in their greed for more shares, not to bankrupt QMC. In such a prolonged price decline and price depression they must have accumulated tons of shares and are very happy, they will settle the lawsuit.
I wonder if any of the shareholders who sold their shares and suffered loss in the crisis will launch their own lawsuit against the predatory law firm.
Definitely, K&L Gates is in hot water. In the eyes of the law, if such a predatory law firm is allowed to go free unpunished and to continue its mal-practice, the justice system sends out the wrong message and encourages other predatory law firms to do the same, then what ramification will there be for the legal system and for the American economy?
Winn and Arnett will win as in many of its precedented cases, this is a typical serious case of mal-practice, there will be no exception !!!
No doubt about it, in a couple of years there will be a head line news:
K&L Gates, the predatory law firm of the year, preying on vulnerable junior start up companies in financial difficulty is found guilty of violating the law of conflict of interest. Quantum Materials Corp is awarded $100 million for prolonged punitive damage and prolonged suffering of its shareholders.
I have a case of champagne ready for fellow QMC shareholders
Revenue: $100 million
S/O: 750 million
Earnings per share: $0.13
P/E ratio as in UDC: 72
Projected share price: $9
News flashback for new shareholders
https://minnsarnett.com/minns-arnett-file-lawsuit-against-kl-gates-alleging-malpractice-and-breach-of-fiduciary-duty-on-behalf-of-quantum-materials-inc/
Minns & Arnett File Lawsuit Against K&L Gates Alleging Malpractice and Breach of Fiduciary Duty on Behalf of Quantum Materials Inc.
by admin | Jan 4, 2019 | News | 0 comments
Minns & Arnett File Lawsuit Against K&L Gates Alleging Malpractice and Breach of Fiduciary Duty on Behalf of Quantum Materials Inc.
Summary: AmLaw 100 law firm K&L Gates is being sued by a Texas-based client, Quantum Materials, Inc., for professional malpractice and breach of fiduciary duty in a lawsuit filed by attorney Michael Minns of Houston-based Minns & Arnett. HOUSTON, Texas, October 17, 2018 – Quantum Materials, Inc. (otcqb:QTMM), an international, publicly traded nanotechnology manufacturer headquartered in San Marcos, Texas, has filed suit against K&L Gates alleging malpractice and breach of fiduciary duty. Quantum is represented by attorney Michael Minns of Minns & Arnett, a Houston litigation law firm.
The lawsuit stems from a basic conflict of interest after K&L Gates sat on the board of directors’ meetings for Quantum Materials as their counsel. When a dispute later arose with two lenders, the financial institution engaged K&L Gates to represent them in a lawsuit against Quantum. Thus, K&L Gates was representing the lender in a lawsuit against their own client. K&L Gates argued in Court that they had recently stopped representing Quantum although there was no letter of resignation and they had not been fired. While making that argument, they still had all of Quantum’s files.
In the lawsuit Quantum has filed against K&L Gates, the Petition claims that some of the technical ’defaults’ had, in part, been created by legal malpractice or fiduciary violations committed by K&L Gates while working on behalf of Quantum. In essence, K&L Gates was suing Quantum while in possession of Quantum’s confidential legal files and presumably also holding the confidential legal files for the lenders who were suing Quantum.
In its Petition, Quantum requests a jury trial to prohibit K&L Gates from disseminating confidential attorney-client information. The company seeks relief for the monetary damages caused by the firm’s actions, as well as more than $100,000,000 in punitive damages if the jury decides the firm was in criminal violation of insider trading laws.
“My client hired K&L Gates with the logical expectation that the firm would work in Quantum’s best interests. Instead, the actions of the law firm have created financial harm to this company and its shareholders,” said Michael Minns, Lead Counsel for Quantum Materials. “There’s a reason law firms are not allowed to have access to the attorney/client confidential information of the other side – it’s unfair.”
Minns & Arnett is a trial and appellate law firm based in Houston, Texas which tries Federal cases all over the United States. The firm focuses on complex tax matters and professional malpractice cases, with a concentration in criminal tax defense. The firm has litigated cases from New York to California, in Alaska and Hawaii, Texas and Jersey.
SOURCE: Minns & Arnett
COURT: Hays County 274th District Court
CAUSE NUMBER: 18-2393
https://images.law.com/contrib/content/uploads/documents/402/29037/QTMMvKLGatescomplaint.pdf
Remember the Big Picture. We are only playing in a kiddy pool with daily trade value of only $33K, even with daily volume of 3 million, the trade value is only a paltry $90K, it is a drop in a bucket for big investors. Wait till good news of sustainable revenues flowing in, the kiddy pool will turn into an Olympic pool with daily trade value in $million and share price under $1 will be history as institutions and hedge fund managers hoard up shares. Its not "If" it will happen rather "When" it will happen. QMC has very low operating cost, it does not take much for it to achieve positive Earnings, it is revenue and positive Earnings that MM/big investors are invested in the company, not its "potential" in JV, licensing agreement, breakthrough in quantum dot or product development. Such news in the past had no impact on share price at all. Only revenue news did and will drive share price up in a drastic way, especially sustainable revenues, nothing else will because big investors see QMC as a growth oriented company, not in a P&D operation.
Expect an explosive breakout from the one year side way formation. The bigger the system and the longer the consolidation, the stronger will be the breakout and more extensive will be the up trend.
Bullish and Bearish Head-And-Shoulder patterns:
https://c.mql5.com/6/8/hhhh.jpg
2020 will be a bonanza year for QMC shareholders with a stream of revenue news :
- $7 million to $10 million from Amtronics
- New licensees worldwide from the QD-Blockchain-Counterfeiting operation with a $1.8 trillion global market (licensing fees, micro-reactor sales and subsequently royalties).
Stephen Squires (March 19 PR): "Our partnership with Amtronics CC is an important step in expanding the value of the QMC franchise globally".
Those who are unhappy with QMC's performance can always jump ship.
1) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=QTMM&x=48&y=12&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
2) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=CCLX&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
3) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=GNOW&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
4) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=LNCLF&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
5) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=BIEL&time=12&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=3&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10&x=0&y=0
6) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=SHMP&time=12&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=3&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10&x=0&y=0
7) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=FPVD&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
8) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=AEXE&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
9) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=BONTQ&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
10) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=RIHT&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
11) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=SNPW&x=53&y=11&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
12) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=CBBT&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
13) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=ABCE&x=0&y=0&time=9&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
14) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=HEMP&x=57&y=11&time=11&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
15) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=ASTI&time=10&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10&x=51&y=10
16) http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=IFUS&x=0&y=0&time=12&startdate=1%2F4%2F1999&enddate=7%2F2%2F2011&freq=3&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=32&lf2=4&lf3=1&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=10
If you are looking for long term prediction from short term chart pattern, this is it. The Right Shoulder of a 6-month Head&Shoulder pattern is being formed so 3 cent area is a strong support. If no revenue news is out in December, share price will oscillate between 3 cent and 4 cents for December and January then followed by an explosive breakout from the 6-moth Head-And-Shoulder formation, the "Return Move" will send share price soaring to possibly new historical high over 50 cents as a stream of revenues flow in even when listed in the Pink Sheet. Share price of some "Pink" stocks are trading in $$.
- $7 million to $10 million from Amtronics
- New licensees from the QD-Blockchain operation (licensing fees, micro-reactor sales and subsequently royalties).
Stephen Squires (March 19 PR): "Our partnership with Amtronics CC is an important step in expanding the value of the QMC franchise globally".
Remember the Big Picture. We are only playing in a kiddy poll with daily trade value of only $33K, even with daily volume of 3 million, the trade value is only a paltry $90K, its peanut for a big investor. Wait till good news and sustainable revenues flow in, the kiddy pool will be turned into an Olympic pool with daily trade value in $million and share price under $1 will be a steal. Its not "If" it will happen rather "When" it will happen. QMC has very low operating cost, it does not take much to achieve positive Earnings, it is revenue and positive Earnings that MM/big investors are interested in, not the company's "potential". Only revenue news will drive share price up in a drastic way, especially sustainable revenues, nothing else did and will.
Sextant for DAML adopted by nanotechnology pioneer Quantum Materials Corp (QMC)
https://hub.digitalasset.com/press-release/topic/quantum-materials-corp
https://hub.digitalasset.com/press-release/sextantdaml
Late filing among companies is normal due to circumstances:
https://www.cnbc.com/2017/05/11/hain-stock-soars-as-filing-reveals-long-overdue-financials-coming-this-month.html
https://www.investopedia.com/ask/answers/08/company-misses-financial-statement-deadline.asp
Didn't anyone realize it is Stephen's strategic plan to get rid of the skeptics and disbelievers before the good news? No shares were issued in November to cover operating expenses means the company has already received at least $2 million from Amtronics, good news of revenue could be out any day sending share price soaring, even while in the Pink.
Quantum Materials Corp's licensee in India
https://amtronicsindia.com/
Who We Are
Under the leadership of Dr. George Anthony Balchin, Amtronics has decades of experience throughout the middle east and Asia, developing and managing infrastructure and commercial construction projects, scaling technologies and has developed exceptional operational expertise.
Amtronics is a unique enterprise that supports the piloting, rigorous testing, and scaling of innovations targeted at improving the lives of people in developing countries. Through our active management and investments, we intend to support a portfolio of innovations that collectively open up opportunities and improve the lives of millions of people across the developing world.
OUR QUANTUM DOT AND THIN FILM SOLAR CELL PROJECT
Quantum dot production and thin film low cost solar cell development in Assam Republic of India
Qamronics India PVT is the joint venture formed by Amtronics and Assam Electronics Development Corporation Ltd, (AMTRON) which is the State-owned Public Sector Undertaking of the Government headed by M.K.Yadava. AMTRON is devoted to advancing emerging electronics technologies that lead to creating new industries and employment opportunities in Assam India, with operations based in Assam Republic of India.
Qamronics India PVT has been established to manufacture quantum dot semiconductors and quantum dot thin film solar cells using patented technologies licensed from Quantum Materials Corp USA.
January 16, 2019 - Shareholder Update
https://www.sec.gov/Archives/edgar/data/1403570/000149315219000688/ex99-2.htm
OTC is the graveyard of many deadwood stocks (especially in the Pink Sheet), but OTC is also a nursery for future BLUE CHIP stocks, many blue chip stocks had their roots in the OTC. Only individual's past experience, diligent research, patience and endurance and wisdom of choice will shape his own financial future.
https://www.otcmarkets.com/corporate-services/company-directory