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The fact that the USTPO website shows that QMVT holds security interests in QMC's patents as of 2/14/20, is a pretty strong indication that the letter of intent was executed.
You are right about the long test qualification period, which was a complaint about the FDA at the beginning. But the FDA was just following the requirements set for them.. My understanding is that Congress had to change or issue waivers to the laws that govern the FDA to allow the new tests to come to market quickly. This is a typical statement on websites.
Just to be clear, I heard that the QDs/nanoparticles are in the actual test kit or testing equipment, not in a QD label on the test kit used for tracking.
Not my area of expertise, but when I go to the Atlantic Council website and right click on the video and select "copy video URL", it copies a link to the video YouTube. Maybe that is just for the replay. Not sure if that was true during the live feed.
Any ten year olds out there that can explain this to me?
When I listen to Jay, what I hear is that there are QDs in some test kits and that QMC manufactured QDs for use in some kit or kits, not that QMC manufactured test kits.
There are test kits out there and new kits being developed that indicate that they use colloidal gold nanoparticles.
And a quick search lead me to EverlyWell in Austin that is in the medical test kit business (things like Lyme disease and STD tests) and they are developing a Covid-19 test kit, like everyone else in the business.
So is it possible that QMC made a batch of gold nanoparticles on the underused Texas reactor for EverlyWell or someone else developing a test? I'd say yes.
This would be in line with the AMTRON video that talked about AMTRON using the Assam reactors to manufacture gold nanoparticles, based on guidance and support from QMC.
Again the quantum dots vs nanoparticles wording from Jay could be another misuse of terminology.
No PR from QMC could be NDA based. Or QMc being conservative since most of the new Covid test kits have not been reviewed and approved by the FDA yet and the test kit that they may be in may not get approved for use. Or QMCs nanoparticles and other manufacturer's nps are being tested against one another and QMC not be in the final product.
My musings for the afternoon.
"Great exposure for Quantum."
I don't know the accuracy of the YouTube numbers, but the highest number of viewers that I saw at any one time was 23.
Hopefully more will watch the replay.
"Everything we know suggests that money went into the JV then into QMC as a loan."
I don't think that the everything that we know (which is very little) amounts to a hill of beans, so to me its not worth trying to reach a conclusion.
You are way more interested in trying to think through the details of this than I am at this point. Too many possibilities, from very bad to somehow good (basic survival).
Let me know when you got it figured out with more answers than questions.
Headed to my beer cellar, it is a Friday night right?
I take a simple approach, if the partner need collateral to sign the deal, then QMC put up the patents (since another lender may still have a security interest in the San Marcos reactors) and QMC informed the USPTO to make the assignment on the record. The important point is it has been assigned. Why or for how much I don't know.
Sure it may be apples and oranges, but we know so little about QMVT, I don't know if its an orange or even round. Just simple concept of technology/IP versus money in a joint venture.
I usual try to over simplify around here, but in this cases we know so little, I'm just rambling.
"A properly crafted license" is not very meaningful phrase around these parts.
For all I know, there may not even be a license involved/needed as part of the Joint Venture.
I think its my turn to start imbibing.
"A security interest? How can QMVT have security interest in a QMC asset unless QMVT loaned money to QMC???"
They don't have to loan them money directly to get a security interest.
In the China joint venture (QMA), QMC put in their technology and IP use and the other side was to provide the funding. The JV was then to split the profits.
So with the new joint venture, QMVT, could be similar. QMC was bring the tech and IP to the JV and the other side was putting the money into the JV.
But the other side may have had concerns about spending their money and then QMC losing control of their IP to say lenders thru law suits, etc. So to make the deal QMC was required to assign the security interest.
We don't know if the $2 million equity investment was in the Joint Venture as working capital (hire Les Paull as CEO, etc.) or if it was in QMC. Without sufficient shares in the treasury, an equity investment in QMC probably would have had to been structured as a loan. If QMC fails, then the JV may not get total control of the patents but may "own" enough of a right to them to continue selling "products based on the patents".
But with such little info, I am guessing/fantasizing a lot, which is normal around here.
Or maybe they were afraid of a hostile takeover by Nanaco or Nanosys (sarcasm).
The US version of that Bayer patent (application 14/050,189) was abandoned on 02-05-18 by QMC.
"Abandoned -- Failure to Respond to an Office Action"
https://portal.uspto.gov/pair/PublicPair
Also, have you noticed that QMC's patent 7,833,506 (PROCESS FOR THE SYNTHESIS OF NANOSIZE METAL-CONTAINING NANOPARTICLES AND NANOPARTICLE DISPERSIONS) had a assignment of a security interest to QMVT on 2/14/2020?
"Conveyance:
SECURITY INTEREST (SEE DOCUMENT FOR DETAILS).
Assignor:
QUANTUM MATERIALS CORP.
Exec Dt:
02/13/2020
Assignee:
QUANTUM MATERIALS VERTICAL TECHNOLOGIES, LLC
11904 VERSANTE
AUSTIN, TEXAS 78726"
Publication No: US 20090295005 A1
https://portal.uspto.gov/pair/PublicPair
They mentioned that in the PR that was 8-K'ed January. Reminder, they are non-reporting.
I'm not going to worry about 8-Ks until I start seeing quarterly reports. It sucks, but it is what it is.
All they did was announce a new product/service that they have developed. No mention of sales, contracts or long term commitments, so I also don't see any reason to disclose via 8-K. Especially since they are already non-reporting.
Yes, he did mention the lack of test kits, so the gold nanoparticles could be related to testing.
Though I would hope that QMC is working on that, since QMC should be able to react much quicker than AMTRON. If QMC can support test kits and get a supply of nanoparticles to the necessary groups, then Assam could be brought on line down the line. Not seeing AMTRON taking the lead on this.
The video did indicate to me that the reactors were not up and running during the first quarter, as forecast in the earlier update. If they don't have the necessary demineralized water supply and other support equipment on site, then unlikely that they had started production.
The other thing that he did not make clear to me, was how would the nanoparticles be actually used? There was mention of the carbon fibers being used to strengthen fabric, but not a clear picture of how the nanoparticles would be used. Embedded in mask material to help "kill" captured virus?
AMTRON Foundation Day Video from April 4, 2020
Shri Mahendra Kumar Yadava, Managing Director of AMTRON
https://www.youtube.com/watch?v=Ei4Mn_YIgXM&t=2240s
Transcript from phone.
16:30
I wanted to come and bring the were arriving from but then I decided not to.
We need to maintain the lockdown in all possible situations and circumstances.
And business has been definitely bad and this is only reasons we did not achieve our related turnover because we have set ourselves last year. And more over we did not get all I wanted to Bumper and probably arrived, but then I decided not nevertheless.
We believe that several state governments are talking about cutting down salaries and so many other things, mainly because it's a really a time of crisis.
We also need to stand by our government and hour of need and I propose that we also need to contribute a part of our salaries to the efforts that the health department of government of Assam is trying to make to safe guard the state from the evil eyes of corona virus.
So I request that Ha… manager of HR take the lead in this and in a short period of time, maybe by Monday, we should be able to …
…. that is effort.
That is one thing.
19:30
Secondly, this is a time of distress. And unprecedented emergency situation. The business is definitely going to take a hit. There is no doubt about it.
But then we cannot sit quiet at the same time.
Number one. We have to evolve a protocol of how we do our duties, henceforth at least for about a year. How we can work from home how we can come to office. And what protocol we need to follow when we are at home and when we are in office. So we really need to get to work on that.
20:10
Secondly I can see one thing that even in Covid crisis, there are opportunities. For example, there would be disruption in the schools and colleges. I really do not know how, so many children can be in a school and maintain social distancing. If you have to seat one student, one and a half meters apart, which means that the school capacities itself will come down to one-third. So and not only that we do not know when the schools are going to open.
There is already a request from our honorable Minister IT, that AMTRON do something for online education in … constituency. I think it's a good opportunity for us. If we can demonstrate how the students can stay at home and still attend classes uninterrupted that would be a good contribution and a good model. If it works fine, then probably we can replicate it in other parts of the state. So there is one opportunity for us. To experiment very quickly and start a rollout in ??? using our own server and cloud and software platforms that we have and whatever is available on the free and open-source platform.
Today we are just trying to experiment with Jitsi. I think it looks good. Probably there are issues of bandwidth because we are straight away linked on to the internet through a browser. But if our IT teams, they do a local hosting of the application, I think we can do much better than that and we can have multiple instances of it for schools, for you know, for colleges and things like that where we have 40 to 100 room class classroom attending. Jitsi, it looks like kind of a good platform to me, but we need to quickly experiment with that
At this time of Covid, we must remember that many of our colleagues are in hospitals. They are helping the health department. Many of our network teams are on the road. They are helping to make the network up and make people stay connected, make the government offices stay connected. So it is not that AMTRON is not doing its bit for Covid and we must also be with our colleagues who are right now on the road and in the hospitals, trying to help other people fight the corona menace.
24:00
Meanwhile for the last one week the AMTRON team has provided a platform to the health department for training of their complete set of new doctors, nurses, paramedics, and others on Covid. And I'm glad that we have been doing it very successfully and it shows that yes, we can contribute at this time also to the government, to the people of ASSAM, and we need to continue doing that.
All of you may not be aware, but some of us are also trying to help in so many other ways. One example is this 3D mask. I’m not sure if you can see this. This 3D mask has been built-in AMTRON. And I showed it to the Health Department and they were very happy and they said that if you could really customize this mask for doctors, for nurses in different colors or different codes, it will be very good. But I am not sure how many of you can produce because we have a small machine and it takes almost, you know, three and a half hours to produce a mass of this size and productivity is really very poor. I'm not sure we can actually get a new machine or whatever we do, I'm not sure, but then these are some of the ways in which we can contribute. So 3D printing is an opportunity lot of Institutions and IITs are doing it in India and elsewhere outside in the world. So we all need to look into this direction that if we have sufficient materials, we can print masks. But these masks are not all that foolproof. So we have to be careful because masks anyway need to be tested before one goes in an infected area, but for a generic use, these are fine.
27:00
The next thing that I would like to share with you is that in this time of Covid when people need to stay indoors while we should think of developing or teaching remotely that is you know, classrooms through remote mechanisms. You could also think about running offices remotely, we have already an office application. If necessary, we can issue advertisement in the newspapers and sensitize people that AMTRON can provide a very meaningful, very good option to working from home and all decisions can be taken and all the matters can be disposed of. Let it be the private sector or public sector, or the government sector, or any other agency that would like to use our software, we should offer them.
The second thing which I was thinking that, you know, all of us need to put our minds to that.
28:00
The third thing which I was thinking about is that how we can actively participate in this moment of Covid crisis as because there is a serious shortage of test kits. There is a serious shortage of personal protective equipment (PPEs) and as you know, we already we have with us our two flow reactors lying with us in the Tech City. So last one week have been trying with this idea. Some progress has been made. We are kind of thinking that why not manufacture here nanoparticles, like gold nanoparticles or silver nanoparticles or carbon nanofibers, which we can make available to our, you know, locally. To make or strengthen the fabric or the meltdown fabric used equipment. We are talking to Health Department also and they have asked that if you can do some treatment using Nano for the polypropylene cloth material, which they are getting, so that either it's life is extended, or it is made more secure.
29:30
I'm thinking that we should take a target of about forty odd days because we already have a reactor. We have almost everything, other than chemicals and couple of other things, which we are lacking right now. We can put all this act together and if you want to do, we can start manufacturing gold and silver and carbon nanofibers. There is some mechanism which is required to be put in place, right now, for example input of one of the reactors, couple of, you know, things like Demineralizing plant and few things probably but these are within reach and if we decide we can contribute and also enrich ourselves in terms of our new experience, starting up actually our new system in the country as because to my knowledge there are not many people in fact what I could learn from one of the previous meetings on this occasion was that there are not more than one or two people who are capable of making uniform Quantum Dots or nanoparticles conforming to say 40 nanometers or 50 nanometers and we are lucky that we already have a reactor with us.
So we have an advantage. We have teamed with people like Quantum Materials Corporation of the USA. They are working on it and they are ready to help us achieve this target.
I am also going to move a proposal to the Mission Director of The National Health Mission Government of Assam that they allow us to start this initiative because we would need government support at this point of time in importing the various goods, machinery, raw materials, testing of these, you know, gold particles of silver particles and things like that. And if it all works out well, again, this is also, you know, a risky venture, but then probably we need to do something about it. We cannot just sit quite at this hour of need. If we can produce some nanoparticles, we will be able to help lot of health workers not only in this state but also elsewhere. So there is a big target, but I do not want to talk about it because this is a time of Crisis. Chances of failure also very high, while we may talk big, but putting even a fraction of that on the ground is going to be challenging.
33:00
The only good thing that I see is that we have already space. We also have part of the technology with us. We have to assemble the rest of it and start working. And in this regard we would like to ensure that some of us who are working on this project, they start putting in serious effort and probably you need to recruit a couple of experts, we are identified already. We have identified a couple of labs in Guwahati. They’re going to help us like IIST. We are also talking to one of the experts we are locally available. So all said and done, we are kind of working on a road map which is achievable and doable, that is one thing. And if you are able to make a mark at a little bit good for company. We will be making history. No doubt about it. But then this is the time when we need to be together regarding the time of Crisis.
34:15
Finances are going to be at the lowest. Probably I have not sure seen a situation like this in all this while I have been managing AMTRON. And funds are going to be in really shortage.
We have thought that we would be writing some new projects. We must not forget that the Government of India has and different couple of things especially in the field of quantum, in the field of communications, in the field of remote classroom. So we should put our act together in next one or two months. We should be able to write couple of proposals, send it to the GOI [central Government of India], because this year I really do not see much chance of getting any substantial amount of funding from the state government, because the governments of individual crises. We have to really depend on funding outside and that actually depend on how good you are able to write the proposals and we are able to convince the central government about the acceptability or the utility of the proposals that we sending so this is another task in front of us.
35:45
The target of our Tech City was supposed to be June, but we are going to miss that very badly. All the work has stopped. Nevertheless, while we will get extension for the projects, it is going to impact the investments very badly. But the line of hope is that if we are able to show something in the quantum materials, if we are able to produce some nanoparticles here, then at least one investment will be secure whenever, you know, when the business starts running towards the normal.
So, you know, these are some of the things that I really wanted to bring to all of you. One thing is there that no one wants, to me doesn't look like, that for another five to six months, how we are going to travel, how we are going to work in office. These are big challenges and in fact, how are you going to stay at home.
So everything is going to be a challenge in course of time. We all need to be aware of each other's requirements, needs. If any one of our colleagues need help, let us come out and help. Let us not be very stringent about rules, because this is the time after ?? some people may need money. Some people, you know, many leave. Some people may need to really work from home. Not many of us can actually come to office. So we have to be aware about everybody's needs and requirements. But at the same time, the aim has to be the same that we should try to keep our tempo high to come back because what I can see is that the overall predictions anywhere in the world are less than the economically great. Which means that, you know, we would not be even able to earn enough to get our salaries.
38:17
So if we just keep quiet sit at home and do nothing, then we are going for a very bleak future. So what we need is that we have to take maximum advantage of the fact that, we got to be now truly be online, not only for ourselves but for others. When we go online for others, probably we can make a business case for lot of private entrepreneurs, for lot of private companies, for lot of private entities, business entities, and some government entities also.
Probably we can bring some new ray of hope for our students in the state. As you may be aware, that online is the probably the only way that I can see. We have lot of tools. We have worked on a lot of tools. We need to actually, you know, sharpen them up, test them, make them better and, you know, start building some new brands in their coming times and put them in a market.
Even everybody's going to take a hit, including newspapers. So we also have to rely on online media, gather news online, probably, you know, I was thinking about kind of developing some crawlers using Python which could gather as specific news, specific reports, you know, which we could share, with each other and I think it's time that we start in a lot of people have started using Telegram as online channels. We can also think about starting some channels on the Telegram to communicate, keep updated, keep pushing the news so that whatever is happening around we all share. And you see this time some bit of good word in the media, some bit of good word in the government, set up some bit of good word in the higher-ups who do ???.
40:59
So whatever little we are able to do for example, if you want to contribute every one of us to this crisis, let us contribute our salaries. My salary does not come from AMTRON. So I have thought that I will give a separate check and so will give two checks, one for myself and one for all of you. And we also request our partners, if they agree, then one check from their side, we can present to the, you know, to the government. And then let us come out with good innovative online platforms.
Look at the learnings for how other people are doing. Set some of the best case examples in Assam we have the network. We have the data center. We have the cloud. We have the know we have the people. We have almost everything that we need to survive in this kind of, you know, kind of Crisis. Let us not only survive. Let us survive well and let us show an example to the world. And most important of all is we all must keep safe.
We all must keep well, we must all, you know, keep our families safe. That's very important because in fact all our backbone is family only. So let us keep our family safe, keep ourselves safe, I’d say the first preference is everyone should be safe. That is point number one. And then point number two is that if you are safe and you can contribute to the growth of AMTRON at this hour that will be really great.
42:36
So my request is all of you, keep safe, maintain distance. And then let us contribute to the growth of AMTRON to the extent it is possible and set some new examples as well. Because every crisis comes with an opportunity and we must not miss this opportunity as well.
And I wish you all good luck. I wish AMTRON good luck. We need to really pray to God that let this crisis pass and we all be well and the corporation be well. And financially we should not, you know, go down, we should try to go up. Because that is what is finally our aim and with these words and with prayer to God that let every one of us be safe and let everyone of us contribute to the growth of the corporation. I wish you all a happy AMTRON Day and thank you very much for listening and thanks a lot.
So profound about advances in some images of lighting of lamps in AMTRON. So I think it is done a wonderful job because no one is there. He's just sending a Telegram.
Okay, okay.
Telgram or image to Celestial body of a Primo.
Yeah, let me see.
The cup I said, can you see I should basic license. Yes, sir burnt charcoal for doing this bit.
Okay, that's really great.
Okay, so that was it.
Visiting fellow pacifist.
because I think this Jitsi platform is good. We can use it. Probably I request if somebody can relieve installer experiment with it confirmed by our conversion of Gogo, correct? What does my machine up?
Yes, should be pretty simple to demo with a working scanner.
To make it a little more interesting, I would illuminate the QD tag to make it visible, then take a photograph of the tag. Then by scanning the photo with the scanner, they could show that the system would not be fooled by simple photo of the tag.
Would also be curious to see if the system would be fooled by a video capture of the tag.
https://www.sec.gov/Archives/edgar/data/788611/000149315220005871/form424b5.htm
Right where it's suppose to be.
"Jay Williams spoke in Austin along with someone from Dell just two months ago and in Arizona on Blockchain less than a month ago. You forgot already?"
Jay Williams did not speak in Arizona on Blockchain on March 3, Pete Harris was the speaker. The majority of his portion of the presentation dealt with anti-counterfeiting and QD basics.
I heard no mention of Capstan blockchain.
"There is more to Tech City than just the QDSC facility."
Yes there is, but you specifically addressed the building of the QDSC Facility and provided "real life reasons" for the construction delay.
"here is the real life reasons for the delay.
- environmental
IIT Guwahati & pollution control board to tackle air pollution in Assam"
How are environmental concerns delaying the QDSC facility?
The micro reactors use more environmentally friendly chemical precursors that other QD methods.
The object is to manufacture green QDSCs. Doesn't the State of Assam want and need huge numbers of non-polluting solar cells?
Environmental concerns should be accelerating construction not delaying it.
Both matters before the Special Meeting passed.
It is under "news" on TDAmeritrade but it provided by Benzinga and is probably just some automated report, that is probably wrong. Could have not updated correctly based on the split.
The reported Loss for 3rd quarter was $0.12 in last 10-Q.
Texas Third Court of Appeals:
CASE: 03-19-00138-CV
K&L Gates LLP v. Quantum Materials Corp.
Representatives:
Rice also had to be cautious because the interview was less than two weeks before release of the 10-K, on Tuesday 3/24.
No, just the end-of-year financial statement and the Conference Call on Tuesday.
I don't think the pictorial view of Tech City was done in late 2019 when the website was launched.
Looked at the surroundings, it is an aerial photo, probably from end of 2017. The IIIT buildings are still in early construction phase. So this rendering may have been done in 2018 as part of the initial planning, or maybe mid 2018 when the CFC building/SWIFT Centre was relocated to the shown location and announced.
Technically any building rendering or photo can be integrated into a computer rendering like this one, but it can be a lot of work by the architect.
Once a defendant has served an answer to the plaintiff's complaint, the plaintiff may obtain a dismissal without prejudice by entering a formal agreement, a stipulation, with the defendant. The parties agree to the terms of the dismissal, which must be filed with the court and the court passes an order of dismissal that enforces the stipulation of the parties. A dismissal by stipulation is a dismissal without prejudice unless the parties otherwise agree and record their agreement in the text of the stipulation.
Well QMC was told by Amtronics that the foundation test piling work was completed back in July 2019 before the monsoon started.
The entire rendering.
http://www.techcity.in/public/img/other/pictorial_view.jpg
The "new" Tech City dot India website has an updated master plan.
http://www.techcity.in/public/img/other/master_plan.jpg
The Quantum Dots Nano Factory is shown in blue, East side, south of the water.
This area has had some on-going ground work for a couple of months. See the white features in the aerial photo.
See the video at about 5:30
The YouTube video of the blockchain presentation on 3/3/20.
(Fixed my previous numbers).
Putting numbers to the Rights Offering.
1.5 million shares outstanding at $5 per share with market cap of $7.5 million.
Using your 75% discount, you would offer 1.5 million shares at $1.25 to current holders. Offering the 1.5 million shares will require the Auth Shares to be increased to about 4 million shares. So if the current AS increase is voted down, then there would need to be another Proxy and Special meeting scheduled to vote on the increase to 4 million.
Assume 100% participation and the company raises $1.875 million dollars minus expenses for the offering.
Based on a little reading about Rights Offering, it is typical that rights offerings drop the share price based on the Market cap increase and outstanding share increase.
Dividing the new market cap of $9.3 million by the new share count of 3.0 million yields a projected post-rights-exercise share price of $3.10 per share, down from $5 based on the heavy discount.
This is fine for the current shareholders who have the cash on hand to exercise their Rights and purchase the additional shares offered to them.
But if a shareholder owns 1000 shares and is offered an additional 1000 shares, they will need $1,250 in cash to buy the shares. If they don’t buy and their offered shares are bought by some one else either by bid or by oversubscription, then the other person makes out even better by getting even more discounted shares and the shareholder without the cash just sees the big drop in SP and is diluted further.
"Why was yes better for your financial interests?"
Because I would prefer to make money on my SGLB shares. Voting no may let some people express their emotions, but it is not in the best interest of the company. If the increase is not approved, then Sigma will be hurt financially as described in the Proxy. The financing was necessary and reduces my upside somewhat, but better than crashing.