Telix QSAM Inc (QSAM)

[Wrangler1]

Totally agree. Like leadership and the fact that they have the same people working on the improvements of an already FDA approved drug. My hope is that it moves the trial phases along quicker. Look forward to watching them execute on the new bone cancer med. Regards.

[RandyKCMO]

The more I learn about QSAM the higher my expectations grow.

I think the next year or even the next quarter or two hold lots of potentials.

[RandyKCMO]

I think this indicates that QSAM isn't just hoping for a one-shot wonder, but rather has multiple patents and "AN EXCLUSIVE WORLDWIDE LICENSE WITH FUTURE IGL PHARMA" for their future pharmaceutical innovations.

The issuance of patents protects their turf... or drug candidates.

[RandyKCMO]

NEWS RELEASE: QSAM Biosciences Receives Notice of Allowance for European Patent and Expands Licensed IP Portfolio

12/10/2020

Palm Beach, FL, Dec. 10, 2020 (GLOBE NEWSWIRE) -- QSAM Biosciences Inc. (OTCQB: QSAM), a company developing next generation nuclear medicines, including Cyclosam® Samarium-153-DOTMP, for the treatment of cancer and related diseases and conditions, announced today that the European Patent Office (EPO) has allowed the first patent covering “DOTMP kit formulations for radioisotopes.” This is the first patent outside the United States and is in addition to the two prior patents issued by the United States Patent & Trademark Office (USPTO) covering “High purity and low specific activity therapeutic bone agents.”

The EPO patent allowance covers technology licensed exclusively by QSAM from IGL Pharma, Inc. that protects the radiopharmacy preparation of CycloSam. The DOTMP kits, which refer to the chelating agent that binds the radioisotopes to growing cells in the bone and is believed by management to reduce toxicity and increase efficacy of the drug candidate, are a crucial component of the Cyclosam radiopharmaceutical product.

“We are pleased that the EPO has recognized the novelty of our scientific discoveries and innovations by allowing our first patent outside the United States. This enhances our entire IP estate which currently covers 15 total patents across 3 distinct patent families all of which are in various stages of prosecution and issuance both in the United States and internationally,” stated Douglas R. Baum, CEO of the Company. “We expect additional patents to be issued through our exclusive worldwide license agreement with IGL Pharma, as we add patent filings in the coming year.”

About QSAM Biosciences:

QSAM Bioscience, Inc. holds the worldwide license for CycloSam® (Samaium-153 DOTMP), a clinical stage novel radiopharmaceutical meant to treat different types of bone cancer and related diseases. QSAM’s initial technology is Samarium-153 DOTMP, aka CycloSam®, a clinical-staged bone targeting radiopharmaceutical? developed by IsoTherapeutics Group LLC, leaders in the nuclear medicine space who also developed FDA-approved and commercially available Quadramet® (Samarium-153 EDTMP), indicated for pain palliation. CycloSam was assigned to IsoTherapeutics Group’s subsidiary, IGL Pharma, Inc.

CycloSam® has already demonstrated preliminary safety and efficacy in animal studies and a single patient FDA-cleared successful human trial performed earlier in 2020. This nuclear technology uses low specific activity Samarium-153 (resulting in far less europium) and DOTMP, a chelator which is believed to eliminate off-target migration and targets sites of high bone turn over making it an ideal agent to treat osteosarcoma or other bone metastases. Osteosarcoma is the most common malignant bone tumor among children and adolescents. Because of its ability to deliver radiation to the skeletal system, it is also believed to be an effective agent to perform bone marrow ablation as pre-conditioning for bone marrow transplantation. This drug candidate utilizes an FDA approved radioisotope combined with a novel chelant that has demonstrated increased efficacy and decreased side effects in animal models. Further, CycloSam® utilizes a streamlined, just-in-time manufacturing process. Given these factors, management believes there is a strong pathway to commercialization.

CycloSam® is cleared by the FDA under an investigator initiated IND to commence human dosing immediately in patients with osteosarcoma and bone metastasis. CycloSam® was also cleared by FDA and successfully used under a single-patient IND to perform bone marrow ablation prior to allogenic marrow transplantation (BMA/T) in 2020.

Legal Notice Regarding Forward-Looking Statements: This news release contains "Forward-looking Statements". These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to our ability to fully commercialize our technology, risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new products and markets, the time and expense involved in such development activities, the ability to secure additional financing, the ability to consummate acquisitions and ultimately integrate them, the level of demand and market acceptance of our products, and changes in our business strategies. This is not an offering of securities and securities may not be offered or sold absent registration or an applicable exemption from the registration requirements

Contact
Christopher Nelson
[e-mail]

[Wrangler1]

RandyKCMO I got your message. Thanks for the update. Look forward to the company making progress as they head toward phase 1 trial in Q1.

[Gentlemen Prefer Bonds]

I would think you are right. Most companies in Phase 1 have a market cap of at least $40 million. QSAM is just over $7 million now.

[RandyKCMO]

And according to the Shareholder Letter, we can expect the Leadership Team to grow over the next six months.

Plus we can expect to hear about financing being raised for the future of the company. If I had to guess I would think this will be done at a level higher than we're currently trading.

[RandyKCMO]

NEWS 11/24/2020 QSAM Biosciences Issues Letter from New CEO; Presents Opportunities Ahead for Company

Palm Beach, FL, Nov. 24, 2020 (GLOBE NEWSWIRE) -- The recently appointed Chief Executive Officer of QSAM Biosciences Inc. (OTCQB: QSAM), Douglas Baum, provided in the following letter to shareholders:

Dear Shareholders:

Thank you for your warm reception and excitement for the new direction of QSAM Biosciences. 2020 has been an eventful year for all of us, and we are very much looking forward to the great things ahead for QSAM in 2021.

The future of QSAM as a biosciences company is very promising. Earlier this year we licensed on a worldwide, exclusive basis a drug technology called CycloSam®. CycloSam is novel radiopharmaceutical meant to target cancers that develop in or metastasize to the bone, which includes a devastating form of cancer that mostly afflicts children and young adults called osteosarcoma, and for which there have been very few advancements in treatment for over 40 years. In addition, CycloSam is being studied to treat cancer that has metastasized to the bones from the breast, prostate and other areas. Furthermore, we have already used CycloSam with technical success in a human trial for another large potential use - the ablation of bone marrow prior to a stem cell transplant.

The opportunities presented by CycloSam are broad and important. More so, we see a direct pathway through FDA trials for this drug candidate, with Phase 1 trials expected to commence in early 2021. CycloSam is an improved version of another FDA approved and commercialized radiopharmaceutical developed by the same inventors. Early studies have shown the safety and efficacy profile of CycloSam to be significantly better than its prior sister drug. As a result of this, as well as the number of animal studies and one human trial conducted this past summer, and the streamlined manufacturing process that is already in place, we are optimistic about the chances of advancing CycloSam through the FDA process over the coming years.

Over the next 12 months, we expect to demonstrate significant advancements through the achievement of several important milestones. Some of these we forecast in the short term include:

Receipt of Orphan Drug Designation approval for CycloSam for its use to treat osteosarcoma;

Establishing agreements with strategic investors and prominent scientific advisors;

Securing clinical sites and investigators for our clinical trials;

Filing and ultimate clearance of our IND with the FDA to start clinical trials; and

Dosing of the first patient in the trials and announcement of initial Phase 1 results.

We believe that most of these milestones can be achieved in the first half of 2021, making the next few months both extremely busy and productive. To support these efforts, we expect to close additional equity financing in the fourth quarter. The near and long-term results of this plan, we believe, will be to continue to increase the value of our drug candidate asset, and in turn, value for our shareholders.

As we have reported over the last few months, QSAM has been transitioning from its legacy business of acquiring and managing compost and soil companies thought its affiliated entity, Earth Property Holdings LLC (EPH), to the new opportunity presented by CycloSam. In early November we announced that we had signed a separation agreement with EPH whereby we terminated the management agreement under which we provided services to EPH, transferred to EPH the remaining soil technology assets we controlled, and eliminated over $1 million in inter-company debt. We also reached settlement agreements with the holders of over $2.8 million in bridge notes by converting those liabilities into common stock, and are working on settling all remaining debt on our books. These actions, if achieved, will place QSAM in a strong balance sheet position to advance our drug development business.

In November also we appointed a new CEO and Executive Chairman to replace Kevin Bolin who will now be leading EPH. Our new Executive Chairman, Richard Piazza, has more than 45 years of healthcare experience in both medical devices and pharmaceutical/biotech development, and has led several technology companies to market success including numerous FDA approvals in both sectors. During his career running both public and private companies, Richard has raised more than $120 million in capital. We very much look forward to his steady hand and rich experience to lead our Board.

As CEO, I personally bring over 28 years of experience in the bioscience and biotech industries, including development, commercialization and marketing of multiple drugs and medical devices. Over my long senior executive tenure, including as CEO of Xeris Pharmaceuticals, I have overseen 15 product approvals through the FDA and raised over $80 million in capital to fund breakthrough technologies. Richard and I also expect to bring other seasoned executives and advisors on the team over the next few quarters to further strengthen our roster and bring additional experience and contacts to our ongoing business.

Thank you so much for your support and shared enthusiasm for the future of QSAM. We share an important goal of building shareholder value by seeking to find cures for cancer. We welcome you to our mission.

Sincerely,

Douglas Baum
Chief Executive Officer

About QSAM: QSAM Bioscience, Inc. (f/k/a Q2Earth. Inc.) holds the worldwide license for CycloSam® (Samaium-153 DOTMP), a clinical stage novel radiopharmaceutical meant to treat different types of bone cancer and related diseases. This nuclear technology uses low specific activity Samarium-153 (resulting in far less europium) and DOTMP, a chelator which is believed to eliminate off-target migration and targets high bone turn over making it an ideal agent to treat metastatic prostate and breast bone cancer, osteosarcoma, Ewing’s Sarcoma, bone metastases and to perform bone marrow ablation. Sm-153 DOTMP has been cleared by the FDA under an investigator initiated IND to commence human dosing of cancer patients.

Legal Notice Regarding Forward-Looking Statements: This news release contains "Forward-looking Statements". These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to our ability to fully commercialize our technology, risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new products and markets, the time and expense involved in such development activities, the ability to secure additional financing, the ability to consummate acquisitions and ultimately integrate them, the level of demand and market acceptance of our products, and changes in our business strategies. This is not an offering of securities and securities may not be offered or sold absent registration or an applicable exemption from the registration requirements

Contact
Christopher Nelson
[e-mail]

[Gentlemen Prefer Bonds]

This management team is very strong, especially for an OTC company. https://qsambio.com/#leadership

[Gentlemen Prefer Bonds]

QSAM 10-Q filed yesterday https://www.sec.gov/Archives/edgar/data/1310527/000149315220022284/form10-q.htm

[Gentlemen Prefer Bonds]

Great information on QSAM in today's PR and CEO letter. https://finance.yahoo.com/news/qsam-biosciences-issues-letter-ceo-140000145.html

[BuddyWhazhizname]

I forgot about the Cyclone Board of Technical Advisors.

Yep, they gathered engineers from NASA, MIT, Lockheed, one of the big Department of Energy labs out west, and other name-brand outfits, then started putting out PRs and webpages flogging all their expertise.

As far as I was able to find out, there was exactly one meeting of this board, and no advice was solicited.

I agree about the shell. It lets Nelson take 100% of the funds raised from selling stock, rather than a percentage if he was just brokering sales. What the company is supposed to do doesn't matter, as long as the current story attracts enough suckers. Once one pool dries up, it's off to the next.

[BuddyWhazhizname]

Except that Quadramet is not Cyclosam.

Here's a quote from Journal of the National Cancer Institute, Volume 96, Issue 21, 3 November 2004

While that is all highly encouraging, a contractual prohibition effectively stops Cytogen from sponsoring a multiyear, large-scale clinical trial that could examine whether Quadramet enhances long-term survival. Dow Chemical has licensed Quadramet to Cytogen only for bone-pain palliation, giving another company—Seattle-based NeoRx—myeloablation rights to a newer radiopharmaceutical, STR (166-holmium DOTMP).

Quadramet was licensed from a patent issued to Dow Chemical. It is patent number 4898724, that expired in 2011.

The list of Cyclosam patent applications is Exhibit A in the SEC filing of the agreement between IGL and QSAM. The only two issued patents are 10172965 and 10596277. They were both applied for and granted to IGL Pharma Inc.

Quadramet is Samarium-153 EDTMP while Cyclosam is Samarium-153 DOTMP. Although they both contain Samarium-153, they are different drugs so the FDA approvals of Quadramet do not cover Cyclosam.

The National Institutes of Health show only one clinical trial for Cyclosam. https://clinicaltrials.gov/ct2/show/NCT03612466 Here is the relevant bit about study timing:


Note that their estimate for completion was September 2023, but provided the trial started this month. The November 10 press release said:

CycloSam is expected to go into Phase 1 clinical trials in the first half of 2021

(pushed back already from the Q1 prediction made in the September 10 PR).

A six month delay in trial start would push completion to 2024.

There "is no way Phase 1 trials will be three years"? Then why is that exactly what the NIH and FDA have been told?

"Cyclosam is already approved by the FDA"? Not according to the FDA approved drug database

Speaking of delays, here's some history with Chris Nelson as president of Cyclone. In December 2011 they did an open house for shareholders. The powerpoint slides were filed with the SEC. Chris Nelson presented a timeline for the following two years:



That was nine years ago. Of all those boxes, only two were completed in some fashion:
1) The Raytheon delivery was supposed to be two complete Mark V engines of 100 hp, but in June 2012 they got two "Manta Ray 36" engines, extremely stripped down Mark Vs claiming to make 36 hp. These two engines were never heard from again.
2) The Army delivery was one smaller engine that occurred in May 2014. Cyclone never released any information about this engine actually running, and it was never heard from again.

Every other box on that chart has yet to be completed.

But Chris Nelson was happy to tell investors that it was all going to be done by seven years ago.

[Televet]

Hey Randy..we meet again..

Picked up 30k shares today.

[ChuckFinley305]

Chris Nelson was always honest when someone called. They just weren't able to get the recycling business going.

Saying Nelson is honest is like describing a snake as non slithery.

I have been in contact with Nelson since before he officially became president of Cyclone... going back like 12 years or so now. Not a single thing he has worked on was able to "get going". He will literally look you in the eye and lie to your face if it puts a $1 in his pocket.

Cyclone Failed - current stock price 0.000001 - Never a single product produced. Stock price peaked at $0.97 just prior to Nelson coming on board.
Q2P Failed at making a waste heat engine - never a single product produced.
Q2P Failed at Composting after buying a fully operational business.
Q2P changes names to QSAM and everyone expected to believe it will now become successful.

Cyclone also had board members that had great reputations in the Steam world and were paid with shares.. Rumor has it that advice from those board members was ignored and they were only used to fluff up the webpage to trick investors. Is QSAM doing the same thing? Time will tell. Currently we only have past history to go on.

I would be more excited if Nelson and Bolan both cut ties with QSAM.

QSAM offers a way to raise some money for FDA trials through a public company.

This is exactly why QPWR became QSAM

Nelson has the stock shell with the ability to raise capital and sell shares.. that is what he is all about. He will gladly jump from steam engine to manure to cancer drug if he thinks he can pull a nice yearly salary out of the funds raised while also dumping shares and diluting stockholder value.

The only thing Nelson has not failed at is getting himself paid.

Don't forget that QSAM is just a side job for Nelson...

-Chuck

[Gentlemen Prefer Bonds]

I'm with you on this. QSAM offers a way to raise some money for FDA trials through a public company. The new management has great experience and what they are being paid is less than what other biotech officers are getting paid. Also, Chris Nelson was always honest when someone called. They just weren't able to get the recycling business going.

[Gentlemen Prefer Bonds]

This is incorrect information in need of a fact check. QSAM is due to file their 10-Q soon, so hopefully there is more information in the filing.

The information you are incorrect on is the time frame of the FDA process. Cyclosam is already approved by the FDA for pain and is being marketed as Quadramet. QSAM licensed it from the patent holders and will be seeking FDA approval for a new verion of an approved drug. No guarantees, but there is no way the Phase 1 trials will be three years.

I like this new direction. There will be many bumps in the road, but I think QSAM has some potential.

[BuddyWhazhizname]

Why would these "WHO'S WHO" in the drug development pedigree want to put their assets in a public entity like QPWR (or what is now QSAMBio.com???

Except none of them are known to have put any assets in. The recent 8K includes the employment contracts of the two new executives. Schedule IIs show zero stock is owned by either. So they haven't put any of their own cash in.

Baum gets $250K per year, plus bonuses TBD, plus preferred stock TBD.

Piazza gets $225K per year, plus bonuses TBD, plus preferred stock TBD.

Nelson was getting $220K per year.

Other than selling stock, what do you suppose they do with their time? They aren't researchers working in a lab. The Phase 1 FDA trial is done by an independent doctor and hospital, which they don't have anything to do with.

It will be at least 3 years before that Phase 1 trial is completed, then there needs to be a Phase 2, and then a Phase 3 before there is any chance of marketing a product. Assuming no problems with the drug appear in any of the trials.

Given that the drug is a radioisotope, they aren't going to be spending their time setting up a manufacturing facility (i.e., nuclear reactor).

Why are these people involved? Maybe to get over $200K per year for selling a little stock?

By the way, here's a little infographic on Chris Nelson's track record:



But there's a mistake in it. Shareholder loss was 99.7%, not 97%.

[RandyKCMO]

Well, it's now clear that QSAM Pharmaceuticals is now the controlling entity of this corporate entity.

QSAMBio.com describes what we have become. By any comparison, we have become more than we were.

The only old management that was retained was Christopher Nelson who continues as the company's CFO. It makes perfect sense. He kept books for the former company and pretty much kept up their SEC filings up to date.

It should be relatively easy for him to continue this for the new company.


NOW THE BOTTOM LINE QUESTION IS WHY? Why would these "WHO'S WHO" in the drug development pedigree want to put their assets in a public entity like QPWR (or what is now QSAMBio.com???

They most likely have aspirations to build a successful pharmaceutical company that will enable them and their partners to retain more of the profits and enterprise value.

Will there be some short-term opportunities to makes some profits? I expect so, but I expect the longer-term game is much bigger and far-reaching than most investors will realize.

Oh well, more thoughts on that later.

[BuddyWhazhizname]

A new 8K is out too. https://www.otcmarkets.com/filing/html?id=14493489&guid=n2EeUWsosfdIc3h

Item 3.02 Unregistered Sales of Equity Securities

Between September 15, 2020 and October 31, 2020, the Company settled approximately $2.8 million in defaulted promissory notes issued in 2017 and 2018 with 17 total note holders. Under the terms of such settlements, each such note holder agreed to convert all principal and interest under their respective debt obligations into shares of the Company’s common stock at a price equal to $0.22 per shares (“New Common Stock”). In total, 5,047,095 shares of New Common Stock were issued to the note holders, and an additional 6,356,385 shares are due to be issued to one noteholder but has not yet been issued as of the date of this Current Report.

As of November 6, 2020, an additional $150,000 in deferred employee compensation was converted to 681,818 shares of New Common Stock.

As of November 6, 2020, 521,364 shares of New Common Stock were due to be issued to an affiliate of EPH in connection with the conversion of $114,700 in promissory notes owed to that party.

As of November 1, 2020, the Company issued 800,000 shares of common stock to a service provider under a 12 month consulting agreement in connection with corporate communications and investor relations activities.

In October 2020, the Company issued 600,000 shares of common stock to three consultants in connection with services provided in the transaction and separation of the Company from EPH.

That's 14,006,662 new shares issued.

The Company holds approximately an 18.5% subordinated equity interest in EPH, and accounts for EPH as an unconsolidated investee entity. It is the intention of the Company that it will sell back to EPH its equity interests prior to the end of 2020; however, terms have not yet been finalized and proceeds to the Company are not expected to be material. Kevin Bolin, the prior Chairman and CEO of the Company, also serves as President of EPH; and Christopher Nelson, President, General Counsel and Director of the Company, also serves as General Counsel and Secretary of EPH.

I didn't realize those two were also running the partner firm. Makes you wonder how much of the stock just paid to "consultants" went to them as well.

4. QSAM has agreed that up to $175,000 in funds raised in a next financing will be used to pay any remaining legacy debt [to EPH] and liability payments anytime after the Effective Date.

Douglas R. Baum gets a salary of $250K plus bonuses in stock and/or cash to be determined, plus Series E-1 Incentive Preferred Stock.

C. Richard Piazza gets $225 plus plus.

CycloSam is expected to go into Phase 1 clinical trials in the first half of 2021

Probably dependent on raising enough cash to fund the trial.

So Bolin is out but Nelson is still there. Bolin's salary was $350,000 and Nelson's was $220,000. So overhead is still at least $700K per year, plus whatever extras management can steer their way.

The clinical trial will be done by doctors in a hospital, who will do everything and write up the final report. That's expected in 2023. Doesn't seem like the executives will have much to do, other than selling stock.

[RandyKCMO]

NEWS 11/10/2020 QSAM Biosciences Advances Plan of Separation from Legacy Business

Pharmaceutical Industry Experts Assume Leadership Roles at QSAM;
Over $4M in Debt Eliminated from Balance Sheet

Pharmaceutical Industry Experts Assume Leadership Roles at QSAM;
Over $4M in Debt Eliminated from Balance Sheet

Palm Beach, FL, Nov. 10, 2020 (GLOBE NEWSWIRE) -- QSAM Biosciences Inc. (OTCQB: QSAM) announced today that it has signed an Omnibus Separation Agreement with Earth Property Holdings LLC (“EPH”) to provide for the termination of management services to EPH and the elimination of over $1.1 million in debt owed to EPH, among other terms.

In connection with this agreement, Kevin Bolin has stepped down as Chairman and CEO of the Company and has been replaced by Douglas Baum as CEO and C. Richard Piazza as Executive Chairman of the Board. In separate transactions, the Company has also converted approximately $2.8 million in promissory notes previously in default, and approximately an additional $0.37 million in deferred compensation and other liabilities, into shares of common stock at a conversion price of $0.22 per share.

In addition to eliminating significant debt, the Separation Agreement with EPH benefits the Company by providing management the ability to focus entirely on the clinical development of its exclusively licensed radiopharmaceutical called CycloSam®, which is meant to treat different types of bone cancer such as metastatic prostate and breast bone cancer, osteosarcoma, Ewing’s Sarcoma, and other related diseases. CycloSam is expected to go into Phase 1 clinical trials in the first half of 2021 and has already been used in one human trial this past summer with preliminary results that indicate effectiveness of CycloSam for use in bone marrow ablation procedures.

Mr. Baum, who has been appointed CEO of the Company as well as maintaining his position as President of the Company’s wholly-owned subsidiary QSAM Therapeutics, brings over 28 years of experience in the bioscience and biotech industries, including development, commercialization and marketing of multiple drugs and medical devices. Over his long senior executive tenure, including as CEO of Xeris Pharmaceuticals, he has overseen 15 product approvals through the FDA and raised over $80 million in capital to fund breakthrough technologies.

Mr. Piazza, who has been appointed Executive Chairman of the Company, has more than 45 years of healthcare experience in both medical devices and pharmaceutical/biotech development, and has led several technology companies to market success including numerous FDA approvals in both sectors. During his career running both public and private companies he has raised more than a $120 million in capital.

“This is a major step forward in our corporate development. With the elimination of a significant amount of our debt and the laser focus we can now apply to developing our promising drug candidate, I believe we are in a position to raise long term capital that will help fast track the growth of QSAM and build value for our shareholders by funding and aggressively pursuing CycloSam FDA approval,” stated Mr. Baum, CEO of the Company.

About QSAM: QSAM Bioscience, Inc. (f/k/a Q2Earth. Inc.) holds the worldwide license for CycloSam® (Samaium-153 DOTMP), a clinical stage novel radiopharmaceutical meant to treat different types of bone cancer and related diseases. This nuclear technology uses low specific activity Samarium-153 (resulting in far less europium) and DOTMP, a chelator which is believed to eliminate off-target migration and targets high bone turn over making it an ideal agent to treat metastatic prostate and breast bone cancer, osteosarcoma, Ewing’s Sarcoma,, bone metastases and to perform bone marrow ablation. Sm-153 DOTMP has been cleared by the FDA under an investigator initiated IND to commence human dosing of cancer patients.

Legal Notice Regarding Forward-Looking Statements: This news release contains "Forward-looking Statements". These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to our ability to fully commercialize our technology, risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new products and markets, the time and expense involved in such development activities, the ability to secure additional financing, the ability to consummate acquisitions and ultimately integrate them, the level of demand and market acceptance of our products, and changes in our business strategies. This is not an offering of securities and securities may not be offered or sold absent registration or an applicable exemption from the registration requirements

Contact
Christopher Nelson
[e-mail]

https://www.otcmarkets.com/stock/QSAM/news/QSAM-Biosciences-Advances-Plan-of-Separation-from-Legacy-Business?id=279646

[BuddyWhazhizname]

Hmmm. Still not yet recruiting for their first clinical trial. If they don't get a move on they won't complete this Phase 1 trial by September 2023.

Has anyone heard if QSAM has raised the $1 million required by the license agreement for the drug? It says:

3.2 Fund Raise and Board Seat. QSAM shall have 180 days from the Effective Date to raise a minimum of $1 million in equity or debt provided the debt has no security interests on the Product.

We're now 25 days past that deadline.

Next week, maybe, the 10Q will be out and management can explain they are renegotiating this agreement, too.

[ChuckFinley305]

Finally got some more info out of Chris N.... Nothing that was overly reassuring or surprising (not that I expected it)

Basically they are trying to figure out how to eliminate the debt due in March by pivoting the business yet again to another opportunity (presumably pharmaceuticals based on recent announcement)

Of course the goals is to not massively dilute shareholders. I'll believe that when I see it.

I love how he always tries to defend himself by stating that most companies would have thrown in the towel by now and ditched their shareholders. Like that's supposed to help anyone feel better about their investment.

Cheers to better or worse times ahead. Hoping for a miracle.

The men behind the curtain admit the only reason they got into this pharma company to was eliminate the debt from the past failures. When this fails, what will be the next industry they enter? Or will they finally throw in the towel as suggested? Highly unlikely because even if the shareholder value is down, they are still taking their significant yearly salaries.

Nothing associated with CYPW, QPWR, or now QSAM has ever been about increasing shareholder value or bringing a product to market. 15+ years in and not a single product has been produced, but millions of dollars have been deposited directly into Nelson and Bolin's account.


-Chuck

[ChuckFinley305]

Its laughable that you do not think the guys from Q2P are part of this new company. They aren't shown on the new web page because their history brings more damage than value.

That history suggests that even those listed on the webpage aren't really even part of the company. They were probably offered stock in exchange for using their pictures and bio as fluff. I still don't see a listed phone number or address. A real investor would want to know why.....

Make no mistake, Nelson and Bolin are 100% in charge. They might not be involved with drug development (hopefully they aren't at all), but they control this stock shell and the flow of money it creates. Follow the money trail.

Last week this company saw a share price increase of nearly 50%... what proceeded it? Days of no trading and a fall back down to current level. Even with that large of an increase it failed to bring in substantial investors to keep the share price up... why? Because that was just one of the many coming share dumps where debt holders are cashing out.

Ride that wave and you could make some money here. Stay long term hoping to be up listed and you will watch your investment become worthless.

-Chuck

[RandyKCMO]

BREAKING DOWN THE NEW WEBSITE!!

Check out the new company:
https://qsambio.com/

Whose going to be running the new company: https://qsambio.com/#leadership

What Product They Have: https://qsambio.com/#cyclosam

What Additional Indications: https://qsambio.com/additional-indications/

At this point there are lots of reasons to be hopeful. Some have denigrated QSAM and it's predecessor QPWR. I think such is quite premature, as it's pretty clear the new a company has a wealth of experience and potential.

I'm thinking that the individuals from the old QPWR may not even be a part of the management of the new company. At this point they're not mentioned on the new website.

[RandyKCMO]

From Previous post...
It sounds like the team they've put together mean business. The experience and talent are top-tier. They've all done this process before and now they're planning to benefit from it in a more direct way.

This might not be a $2-3 stock in the short term, but I'm fairly confident that we will see $5-10 in the not too distant future, as in 2021.

And for now the public float is like 911K shares... if ever a company would like to uplist to a higher tier exchange, you'd think it would be sooner than later.

If I had to guess I think they will get paperwork filed for NASDAQ Capital Market or maybe the NYSE American, and then uplist via secondary Offering.

In other words... I planning to hang around for a while.

[RandyKCMO]

MORE REASONS I THINK QSAM HAS A BRIGHT FUTURE!

There are some pretty exciting things in the future of QSAM.

QSAM THERAPEUTICS! Also: QSAM PHARMACEUTICALS

Want a sample?? Check out their new website. I don't know that it has been PR'd yet, but I found it with a google search>

https://qsambio.com/

About QSAM
"QSAM Therapeutics, Inc. (“QSAM”), a wholly-owned subsidiary of QSAM Biosciences, Inc. (OTCQB: QSAM), is developing next generation nuclear medicines for the treatment of cancer and related diseases and conditions.

"QSAM’s initial technology is Samarium-153 DOTMP, aka CycloSam®, a clinical-staged bone targeting radiopharmaceutical from IsoTherapeutics Group, leaders in the nuclear medicine space who also developed FDA-approved and commercially available Quadramet® (Samarium-153 EDTMP), indicated for pain palliation.

"CycloSam® has already demonstrated safety and efficacy in animal studies and a human trial performed at the prestigious Cleveland Clinic. This drug candidate utilizes an FDA approved radioisotope combined with a novel chelate that has demonstrated increased efficacy and decreased side effects in animal models. Further, CycloSam® utilizes a streamlined, just-in-time manufacturing process. Given these factors, management believes there is a strong pathway to commercialization.

"CycloSam® is cleared by the FDA under an investigator IND to commence human dosing immediately in patients with osteosarcoma and bone metastasis. CycloSam® was also cleared by FDA and successfully used under a single-patient IND to perform bone marrow ablation prior to allogenic marrow transplantation (BMA/T) in 2020."

[RandyKCMO]

WHY I THINK QSAM HAS A BRIGHT FUTURE!

We haven't heard yet about the disposition is the debt or what the new management structure will look like.

We've been given a glimpse on their new website: www.qsambio.com

See my previous post of you want to be impressed!!

From what I've gathered it looks to me like these are the folks that will be in charge of the company. It was structured like the creation of a subsidiary, but it looks to me like the subsidiary will be the future of the company. I think I remember that the funding agent (EFT or something), that provided the capital and retained most of the ownership of there acquired compost companies, was providing findings for QPWR through June and beyond.

I think your fear that lots more shares well be hitting the market is baseless. From my experience it's pretty tough to deposit pink sheet shares anywhere.
Let alone that the reverse split has greatly reduced the Outstanding Shares to just over 2 Million shares and the Public Float to just over 900K shares in the public float. It's pretty much a blank canvas and can pretty much be turned into whatever they want.

If I'm correct that QSAM BIOLOGICS, A Biotechnology PharmaceuticAL Company is becoming the controlling entity of QSAM, what are they going to do with the Company??

They're a Biotech Pharmaceutical company that will need to raise additional Capital to bring what they believe is a highly likely drug candidate to market. It's already been tried and found effective!!

Will they do their major Capital raise at dime, a quarter, a buck, or $5.00??

I'm thinking in the latter more likely than a former. Once we get through Phase One Trial, which is drug safety... they'll be in a position to price the stock at whatever level they desire. Will they want to uplist? I'm thinking they will.

If you can't see the possibilities, I think you're missing the present opportunity because if the past. I think you're missing a tremendous opportunity.

But yeah, I suppose I could be wrong. I guess that's why they call it speculative investing. But, the potential of QSAM gets my juices flowing.

[ChuckFinley305]

The execution of the reverse split is working its magic...

Seeing a stock rise from $0.15 to $0.55 in a week will draw in investors and help increase the 7 day rolling average that is used as leverage for selling discounted shares and toxic debt payment.

At these prices it seems impressive.. but its just an illusion..

Much less impressive when you realize its just $0.012 going to $0.022 pre split.

This isn't one to sit on! Cash out now.. buy during the next dip that is coming soon.

-Chuck

[RandyKCMO]

WHY I THINK YOU SAM HAS A BRIGHT FUTURE!

We haven't heard yet about the disposition is the debt or what the new management structure will look like.

From what I've gathered it looks to me like the medical folks will be in charge of the company. It was structured like the creation of a subsidiary, but it looks to me like the subsidiary will be the future of the company. I think I remember that the funding agent (EFT or something), that provided the capital and retained most of the ownership of there acquired compost companies, was providing findings for QPWR through June and beyond.

I think your fear that lots more shares well be hitting the market is baseless. From my experience it's pretty tough to deposit pink sheet shares anywhere.
Let alone that the reverse split has greatly reduced the Outstanding Shares to just over 2 Million shares and the Public Float to just over 900K shares in the public float. It's pretty much a blank canvas and can pretty much be turned into whatever they want.

If I'm correct that QSAM BIOLOGICS, A Biotechnology PharmaceuticAL Company is becoming the controlling entity of QSAM, what are they going to do with the Company??

They're a Biotech Pharmaceutical company that will need to raise additional Capital to bring what they believe is a highly likely drug candidate to market. It's already been tried and found effective!!

Will they do their major Capital raise at dime, a quarter, a buck, or $5.00??

I'm thinking in the latter more likely than a former. Once we get through Phase One Trial, which is drug safety... they'll be in a position to price the stock at whatever level they desire. Will they want to uplist? I'm thinking they will.

If you can't see the possibilities, I think you're missing the present opportunity because if the past. I think you're missing a tremendous opportunity.

But yeah, I suppose I could be wrong. I guess that's why they call it speculative investing. But, the potential of QSAM gets my juices flowing.

[BuddyWhazhizname]

Yeah, that current report filing in September announced both the 25-1 R/S and the Authorized going from 100,000,000 to 300,000,000.

That would be a before-split level of 7.5 billion shares.

CYPW did the same thing, constantly increasing the authorized into the billions. That was driven by the convertible notes specifying that the authorized shares had to be some factor beyond the number of shares the notes would convert into. Seems to me it was about three times, and the notes converted at a price about 50% of current market.

As the stock price dropped, the A/S was forced to increase. As notes converted and were dumped on the market, stock price dropped, forcing more A/S, and so on.

I'm a little surprised Nelson has gotten himself back into this hole so quickly. At CYPW he had the two management clowns, Harry Schoell as CTO and his girlfriend Frankie Fruge as President. Schoell was then "ingenious inventor" whose only talent was inventing stories of how well his make-believe steam engines worked, and Fruge's talent was writing PRs about how International Corporations kept licensing their technology and how mass production of the engines was starting in six months. (The last story about the corporation with access to billions in investment that was going to fund their foray into major solar energy projects was tracked down to a guy working out of a business incubator office in an abandoned church in Salt Lake City.)

Schoell and Fruge were machines turning out PRs announcing Big Deals and mass production and sales of engines. They got some money from sophisticated investors, but most came from thousands of retail investors. It was years of this before they started running out of retail investors and had to turn to the toxic notes. Even then, there were still lots of people buying the dumped stock as the notes converted, maybe the same retail investors engaging in penny-cost-averaging.

Nelson and Bolin haven't done much publicity to attract the retail market. QPWR was listed as having 306 shareholders of record. They seem to have aimed just for sophisticated investors. The trouble is, those people are harder to swindle.

Today saw the price drop 19% on a $600 trade. Not much of a market for this company. While CYPW had thousands of people buying stock on the way down, QPWR/QSAM with their steam engines/compost/cancer cure strategies obviously doesn't.

So I'm a little surprised Nelson didn't learn you need a sexier story to suck in the bagholders like was done at CYPW. On the other hand, the guy obviously isn't the sharpest knife in the drawer...

[ChuckFinley305]

You will have plenty of opportunities to buy massive quantities of shares as the toxic debt comes due and the shares are dumped.

-Chuck

[RandyKCMO]

Well if you guys keep selling I'll keep buying and we'll see how things work out!!

[BuddyWhazhizname]

Guess where QSAM Therapeutics is located.

Street address is

3616 FAR WEST BLVD SUITE 117-292, AUSTIN, TX, 78731

Which is:



Yep, this powerhouse organization occupies an entire mailbox at the UPS Store.

[BuddyWhazhizname]

Different year, same story.

I see Nelson and Bolin have worked their magic again:

Management believes that the opportunity presented to the Company with the licensing of Sm-153 DOTMP must be viewed in connection with our broader strategic plan for 2020. Specifically, it is critical for the Company to take decisive action to reduce our debt burden, which has started to mature including some significant obligations which are currently in default or will be in default in the coming periods. We believe there is a path forward that includes transferring the ABS licensed technology we control related to our compost and soil business to EPH, as well as a termination of the management agreement, in return for a forgiveness of approximately $1 million in loans as of the end of the second quarter of 2020. As part of this plan, we would seek to redeem and retire or covert into equity approximately $4.2 million of Bridge Notes principal and interest. If we convert these notes to equity, that would cause significant dilution for current shareholders.

(Q2 report, page 23)

As of June 30, 2020, approximately $2,801,908 of the original issuance principal amount and $1,116,914 of accrued interest on the Bridge Notes matured and is currently in default. Management is working on a plan to extend the term or convert into equity these and the other Bridge Notes, as discussed above. Any equity conversion would be highly dilutive to our current shareholders. If we cannot repay these obligations or otherwise come to agreement with the holders, our ability to operate will be materially adversely affected, if not completely shut down and the Company may be forced to seek bankruptcy protection.

To continue operations in 2020, we will need to raise additional capital for the Company. We have a verbal commitment with the primary investor of EPH that they will continue to provide funding to the Company either as Bridge Notes, other Q2 securities, or advances on management fees, to maintain our operations through at least the end of the third quarter of 2020; however, we do not have any formal written agreement and there can be no guarantee that this investor will continue to fund our operations in the future.

Toxic debt followed by massive dilution was Nelson's special talent at CYPW. After he couldn't sell any more CYPW stock, he got a license for their wonder technology and started QPWR. He sold one system to a customer, took a down payment, defaulted on that contract and switched the company to composting wonder technology.

Total assets on June 30 was $19,601 in cash. Current liabilities were $5,048,968. After all those millions in cash investors have put in, the company literally doesn't even own a stapler..... And they had funding to continue operating until, oh, two weeks ago.

The plan now? Well, they are going to sell their "ABS licensed technology" to their composting sugar daddy EPH. How did that go?:

In the second quarter of 2019, the Company licensed soil technology called ABS from Agrarian Technologies, Inc., for which the Company is currently pursuing sales and distributorship agreements but has not yet been able to generate any material revenue from these activities. The Company pays a minimum royalty under this license agreement to the licensor of $7,500 per quarter, $30,000 of which has been accrued but not paid as of June 30, 2020; and then pays royalties on the sales of the ABS product based on volume sold to the extent such volume royalties exceed the minimum royalties.

They never saw a penny from that company-saving wonder technology (and it's hard to understand how they can talk about holding a license when they're a year behind in royalties...).

They are giving up the composting management contract with EPH, which was the company's only source of revenue, in exchange, potentially, for a small reduction in debt.

But now they've got a new company-saving wonder technology, Sm-153 DOTMP CycloSam® .

It came out of a company called IsoTherapeutics Group, LLC, which appears to be a real company. Their trademark was issued in 2011. The timeline at IsoTherapeutics:

October 2016

IsoTherapeutics Group, LLC spun out its CycloSam® bone agent technology into a separate company, CycloSam Therapeutics, LLC after securing seed funding from private investors>.

June 2017

CycloSam Therapeutics, Inc. was incorporated in Delaware.

September 2018

CycloSam Therapeutics, Inc. changes name to IGL Pharma, Inc.

In October 2018 this drug was licensed exclusively to Oncolix, Inc. (OTCQB: ONCX) Last trade on Friday was at $0.000001

It does appear that a clinical trial of up to 20 patients is in the "Not yet recruiting" stage. Estimated Study Completion Date : September 2023, provided they start in November 2020.

The details of the deal:

The License Agreement is for 20 years or until the expiration of the multiple patents covered under the license, and requires multiple milestone based payments including: $60,000 and other expense reimbursements within 60 days of signing, up to $150,000 as the Technology advances through multiple stages of clinical trials, and $1.5 million upon commercialization. IGL will also receive equity in QSAM equal to 5% of the company to be issued within 60 days of signing. Upon commercialization, IGL will receive an on-going royalty equal to 4.5% of Net Sales, as defined in the License Agreement, and up to 50% of any Sublicense Consideration received by QSAM, as defined in the License Agreement.

So, yeah, we've got this wonder drug that IsoTherapeutics didn't think worth keeping, spun it out as CycloSam Therapeutics that got investment and didn't go anywhere, then the principals licensed to a nearly bankrupt company (ONCX), and now to another nearly bankrupt company for a cash consideration of $60,000. And that's with their fantastic management team that is so experienced and successful in the sector.... You'd think $60K would be pocket change to those guys.

Uh-oh, another deal breaker. The license agreement says:

3.2 Fund Raise and Board Seat. QSAM shall have 180 days from the Effective Date to raise a minimum of $1 million in equity or debt provided the debt has no security interests on the Product.

Effective date was April 20, 2020. That was the 111th day of the year, and today is the 285th. Hmmm, we're 174 days into that 180 day deadline.

They certainly haven't sold a million in stock lately and it's hard to imagine anyone loaning them another million without security.

Exhibit A of that filing shows only two patents have been issued, 12 are pending and 6 patent applications have expired. IGL is probably eager for the million from QSAM to finish those remaining applications before they expire, too. Funny how that illustrious management team doesn't think those patents are worth any of their own money.

But, hey, that Phase 1 clinical trial should be in by September 2023, and if that goes well, they can raise some more money and start the Phase 2 clinical trial, then after that the Phase 3 clinical trial. After that, they can start to make some money.

[ChuckFinley305]

QSAM Therapeutics is a subsidiary of Q2Earth..

Q2Earth Changed its name to QSAM Bioscience meaning that QSAM Therapeutics is now a subsidiary of QSAM Bioscience which is controlled by Kevin Bolin and Chris Nelson.

You are correct, you won't see them mentioned on the QSAM Therapeutics webpage as they are technically not part of that company, but I assure you they are the men behind the curtain.

Where is the QSAM therapeutics office at? Can you call and talk to anyone shown under the "leadership" portion of the webpage? Probably not because there isn't an office. Everyone listed has a day job that isn't QSAM therapeutics related. Even Q2Earth doesn't have an office... they claim an address that Nelson uses for his day job.

Nelson has a long history of giving people large sums of shares in exchange for using their picture and professional summary on his webpages. Cyclone Power's webpage still shows people who have parted ways with the company over 6 years ago, but if you are an investor and call, they will not tell you that.

You aren't the first person to think I am wrong.. hopefully you are right, but the others have lost large sums (including myself) when investing with Nelson. This is the reason behind the name change and lack of acknowledgment on the webpage.. Their past history makes investors leery..

Don't let the dream of turning a $0.15 into $5 cloud your judgement.. the clues are all there if you are willing to see them..


-Chuck

[RandyKCMO]

Oh... and FWIW I bought most of the shares that we're sold at those levels.

[RandyKCMO]

Virtual Rock Star... No doubt this endeavor is a way for him and his compatriots to financially profit from the drugs they help develop and bring to market.

[RandyKCMO]

You might be right. But I think... and betting you're wrong.

Check out the new company: https://qsambio.com/

Whose going to be running the new company: https://qsambio.com/#leadership

What Product They Have: https://qsambio.com/#cyclosam

What Additional Indications: https://qsambio.com/additional-indications/

You don't have to believe... but I think it's quite premature to denigrate a company that has the experience and potential I'm seeing here.

I'm thinking that the individuals you've mentioned may not even be a part of the management of the new company. They're not on the new website.

[ChuckFinley305]

Could have done well if you bought on Monday when the share price was $0.15... $0.006 pre split.

This is the way to make money from any company Chris Nelson is connected to.. buy on the dips, sell on the run ups. Anyone who has ever bought expecting to hold long term has lost.

They changed the ticker to disconnect from the history of their previous failures.

I've seen companies Nelson has been in control of climb to $1 share only to fall to $0.000001/share.

-Chuck

[RandyKCMO]

Bidding for some at 30 cents.

.012 pre reverse split.

Not many people own shares at these prices.

[RandyKCMO]

Agreed.

[MADDSTACKER]

Ceo old company he was in charge of is trading at $6 on the nasdaq >>>

Douglas R. Baum has 28+ years of experience serving in a number of executive management and business development positions within the drug development and life sciences industries. Currently, he serves as the CEO, President and Director of QSAM and its subsidiary, QSAM Therapeutics, Inc., a company he co-founded in 2019. QSAM is an Austin, Texas based clinical stage specialty pharmaceutical company developing a pipeline of radiopharmaceuticals focused on various bone and solid tumor cancers.

Previously, Doug was the President and CEO of Xeris Pharmaceuticals Inc. (NASDAQ: XERS) a specialty pharmaceutical company focused on developing drugs for diabetes and related metabolic diseases. Prior to Xeris he served as the COO of MacuCLEAR, a specialty pharmaceutical company developing novel treatments for retinal diseases of the eye. Prior to MacuCLEAR, Doug served as the Vice President, Global Corporate Development at Premier Research Group (PRG), Inc. a global contract research organization serving the pharmaceutical, biotechnology and medical device industries. In 2007 PRG acquired SCIREX Corporation where Doug served as Executive Vice President & General Manager, Early Drug Development. He also serves on the Board of Directors of Regent Technologies, Inc. and previously served on the boards of Xeris, MacuCLEAR, Halsa Pharmaceuticals, Inc. and the Texas Medical Device Alliance.

Doug obtained his Bachelor’s of Business Administration degree and his Master’s of Science in Technology Commercialization degree from the University of Texas at Austin.

[MADDSTACKER]

https://qsambio.com/#cyclosam

[MADDSTACKER]

Wow 2 k shares to 1.30 f crazy

[MADDSTACKER]

Sweet I grabbed 5 k shares also

[MADDSTACKER]

Yeah could imagine them doing offer less then 1.50 this could be epic. :)

[RandyKCMO]

I've been buying up cheap share for the last few weeks. As there was no competition, it's been fun.

So now I picked off the last .36s. We'll see if any offers come down to current levels.

[RandyKCMO]

When and if this is turned on...

I think we trade substantially higher.

I would think in the first quarter of 2020 we'll hear about Stage 1 Trials and be looking toward uplisting, which in my estimation means $2 to $4 minimum.

[MADDSTACKER]

900k float .. wow