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Piggies lined up at the trough for another feeding oink oink oink. https://finance.yahoo.com/news/quantum-biopharma-announces-intention-complete-233000194.html
QNTM new 52 week low
Huge started tanking wayyyy before Cellynu was ever in the picture. You must be relatively new to Huge. They can try to whitewash all they want with a name change. Raza, Anthony, Saeed, all pigs at the trough pointing at and blaming one another all growing fat as retail starve. It's all there, ignore the hype and look at the facts. Over the years money has always gone into their pockets and promotions along with awarding themselves massive bonuses. If they truly intended to build true shareholder value more money would go into R&D instead of paid promotions and their pockets. Look at the amounts for paid promotions and salaries over the years then look at the total amount spent on R&D. They spend substantially more on promotions to hype and push paper than they do on R&D to actually build the company.
They have shares to push and dilute. Maybe they can RS two more times. Can you believe they went from 1.2 billion shares down to 7.7 million, back to 78 million, then down to 1.2 million? Pump, dilute, split and repeat, the cycle continues. If the company folded insiders risk nothing, walking away with millions from over the years and on to their next venture, can the same be said for the retail class B shareholders off of who's backs this company was built?
Insiders have milked this for years, it's a continual cycle of pigs taking turns often fighting over the trough getting their fill moving on then replaced with new piglets. Look at ALL company filings since their cannabis days, follow the money and who has come and gone over the years. The company financials and filings tell the true story of what has happened and is happening here. They have spent more on promotion and hype than on actual R&D, leadership is going to continue to hype and promote to convince naive shareholders that they are doing anything but paying themselves the money they stole from the investing public through secondary offerings. The rot runs deep.
QNTM new 52 week low
At one point they had over 50mil in cash, dangling it like a carrot in their promotions targeting retail. Here is where the money goes: Current assets Cash and cash equivalents 3,306,641 June 30, 2024
Professional fees
Professional fees were $958,377 and $1,816,800 for the three and six months ended June 30, 2024, compared to $814,488 and $1,408,774, respectively, for the comparative periods in the prior year. This represents an increase of $143,889 or 18% for the three months ended June 30, 2024, and an increase of $408,026 or 29% for the six months ended June 30, 2024, compared to the equivalent periods in the prior year. Professional fees fluctuate from period to period based on the nature of the transactions the Company undertakes.
Investor relations
Investor relations expenses were $561,054 and $833,216 for the three and six months ended June 30, 2024, compared to $100,158 and $347,550, respectively, for the comparative periods in the prior year. This represents an increase of $460,896 or 460% for the three months ended June 30, 2024,and an increase of $485,666 or 140% for the six months ended June 30, 2024, compared to the equivalent periods in the prior year. Investor relations expenses fluctuate from period to period based on the Company’s business strategy.
Salaries, wages and benefits
Salaries, wages and benefits expenses were $436,687 and $816,139 for the three and six months ended June 30, 2024, compared to $465,899 and $1,095,926, respectively, for the comparative periods in the prior year. This represents a decrease of $29,212 or 6% for the three months ended June 30, 2024, and a decrease of $279,787 or 26% for the six months ended June 30, 2024,compared to the equivalent periods in the prior year. The decrease is primarily due to a decrease in headcount for the three months ended June 30, 2024, compared to the equivalent periods in the prior year. The decrease in headcount was due to a restructure in the research and development team and outsourcing of some related activities.
Consulting fees
Consulting fees were $204,492 and $423,453 for the three and six months ended June 30, 2024,compared to $269,067 and $825,871, respectively, for the comparative periods in the prior year. This represents a decrease of $64,575 or 24% for the three months ended June 30, 2024, and a decrease of $402,418 or 49% for the six months ended June 30, 2024,compared to the equivalent periods in the prior year. Consulting fees include fees paid to individuals and professional firms who provide advisory services to the Company and fluctuate from period to period based on the nature of the transactions the Company undertakes
Share-based payments
Share-based payments were $111,524 and $169,267 for the three and six months ended June 30, 2024,compared to $403,393 and $3,609,928, respectively, for the comparative periods in the prior year. This represents a decrease of $291,869 or 72% for the three months ended June 30, 2024, and a decrease of $3,440,661 or 95% for the six months ended June 30, 2024, compared to the equivalent periods in the prior year. Share-based payments expense changes based on the variability in the number of options granted, vesting periods of the options, the number of Performance Share Units (“PSUs”) granted, the number of Restricted Share Units (“RSUs”) granted, vesting periods of the PSUs and RSUs, number of warrants granted, vesting periods of the warrants, the grant date fair values of share-based awards, and share-based bonuses issued. The decrease for the period ended June 30, 2024, is primarily related fewer stock options grants in the current period compared to prior year period.
Office and general administrative
Office and general administrative expenses were $44,682 and $100,512 for the three and six months ended June 30, 2024, compared to $472,792 and $899,638, respectively, for the comparative periods in the prior year. This represents a decrease of $428,110 or 91% for the three months ended June 30, 2024,and a decrease of $799,126 or 89% for the six months ended June 30, 2024,compared to the equivalent periods in the prior year. Office and general administrative expenses may vary from period to period based on operational activities.
20. Subsequent Events
The Company issued three new loans secured by residential or commercial properties during July and August 2024 and renewed one existing loan in July 2024.
The total amount of these loans was equivalent to $1,866,370 (C$2,585,000).
The Company generated total proceeds of approximately $5,542,952 through its ATM Agreement subsequent to June 30, 2024. The proceeds will be used in the normal course of business operations.
The Company issued a total of 950,000 Class B shares to settle debts owing to an arm’s length creditor. Retail shredder, insider ATM machine.
It all started with the claims of Worlds Largest Hydroponics Cannabis Producer. They prey on retail through hype and promotion knowing most will not bother to check or understand company filings. The insiders use the company as their personal ATM. Shareholders have no say due to the share structure set up by insiders giving them full control with all voting matters. To explain it all would take pages of typing. But IMO this is a share dilution scheme meant to enrich insiders and a handful of other high net worth individuals.
HUGE: Indeed; & sneaking back up as we speak.
HUGE: We'd rather see you post your TRADES, vs. silly stuff like that!!
"Leave the clowning-around to ME, Admiral TFCD!!!"
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HUGE: Crashing now somewhat, Bro, but their overall PR today was GREAT TIMING --- in light of a typical lack-luster FRIDAY, with still many doom-&-gloom headlines about National employment, layoffs, cutbacks, interest rates, inter alia. I.e., NOTHING much else to even consider buying, except HUGE's neat news.
HUGE: Yes I did, Capt. Timmy!!! (And great to see you back, from your vacation in Tahiti with iHub's "SubsLover", et al.??? Remember when he banked $56K on a stock about a few weeks ago, & posted that he was going there?? He has me on iHub's IGNORE, but I don't 'ignore' him.)
HUGE: Glad I got back in awhile ago for MORE of this freak show!!!
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