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If you examine both the SEC filings and the PR's you will notice the licensing and development agreement, which was not in effect, was violated here too. A percentage of the reactors was supposed to be paid in cash and before shipment. This was not done. A letter of credit with no cash exchange was quoted. In other words, shareholders funded the pretense of the Indians being willing participants.
Some of you just do not want to accept reality to create a fantasy which does not exist.
The Indians are not dumb enough to give QMC any more money. What QMC did there, if anything, was funded by shareholders and not as the licensing and development agreement claimed. That was made clear.
Question.
The point of the India deal being dead is that before or after India receiving the reactors?
I mean wasn't the SEC filing you are referring to before the reactors were sent, received and set up on an off construction site?
Quote:There was never a licensing and development deal
Really? Do you know something we don't.
Who is your source?
Do you know Dr. Tony Balchin, CEO of Amtronics India LLC,
Do you work for the SEC?
and spilling something shareholders do not know
or Blowing big time smoke.
There was never a licensing and development agreement. The Indians defaulted immediately. They never paid the licensing agreement fee. This is fact and publicly available via subsequent SEC filings via
edgar. The Indians are out because they never were in.
You have had this pointed out repeatedly. The question is why do you choose to ignore this fact.
However the Licensing and Development situation with India looks much better for the long run and a disclosed in Exhibit 10.1 last November. It is just taking longer than expected for things to develop
India licensing agreement defaulted immediately. Exists only in anyone's imagination. The Indians were not stupid enough to go through with the deal. Company on pink sheets to cover up that the reactors were never paid for nor the licensing fee ever paid. It is nothing more than a shareholder financed illusion.
You'll never see another penny out of the Indians. But keep pretending along with POS Squires. The share price says your fooling a lot of people.
You can be sure Squires fertilized this weed with the very most potent fertilizer there is: his own bullsh!t
Dude he’s been growing weed in his garage and lacing it with some of our very own dots.
It worked so well you forgot POS Squires' BS about the industry "disrupting" rec2020 display he demonstrated to very interested OEM's last February and April. It never ends with this lowlife Squires does it?
BS smoke and mirrors and perpetuating the lies. Kind of like spinning off the block chain BS to try and get everyone’s attention elsewhere. Go back and review the board. It worked. We are no longer talking about QMC Asia nor display tech and soon we won’t be talking about India.
Blockchain will be the new focus in 2020 so people will forget India. Then maybe Quantum dot laced cannabis will replace blockchain nonsense.
We can all glow while we smoke away our worthless shares. =D
Nice teaser Jamis. It has nothing to do with QMC of course. Merely a personnel change at samsung and applied materials getting a new contract to add to the supplier network.
Don't worry Squires is still negotiating rec2020.
Samsung shaking up their QD tv supply chain and slight delay in expansion of their QD tv production lines.
Does anyone seriously expect Squires to be honest? How else to continue the illusion of an India deal? How else to hide from shareholders they are the ones financing the activity around this and other fantasies.
Its been 3 months since the SEC issued the CT approval, where is the 10-K?????
So what am I speculating about? It is fact the Assam deal was immediately defaulted on and there never was any contract in effect. It is fact QMC's dots are not commercial quality. The fact is they can't sell any for any purpose. Not a single nanometer. Rec2020 was misinformation from the start along with every PR this year. I'd hardly call Puravida's posts insightful after watching what is actually transpiring.
You are speculating, we do not know what is going on behind the scenes. Puravida has more insight than anyone else who posts here.
I agree with one caveat. I think Squires negotiated the 1/2 mil payout not to sue for breach of contract. Thus continuing the illusion of a deal for shareholders. Then had his cronies spam the internet with claims of 7-10 mil income this calendar year. The caveat being the letter of credit they received had stipulations we don't know about making actual payment for the reactors nonexistent. Thus shareholders funded the reactors to continue the illusion upon themselves. The pink listing of the company is so we do not see this actually happening and the illusion continues.
The Indians are more clever than we shareholders.
In any event the Indians did not pay one penny past the 1/2 mil or there would be no reason to pink sheet us.
The more I think about it, the more I think what's really going on is that whoever is the money behind Amtronics is holding back the cash until QD production and R2R QDSC is demonstrated. It makes sense. Amtronics has no money; they couldn't even come up with the license fee. They are just a middleman skimming a piece off the top. Nothing happens unless someone else gives them money, and it's one thing to buy a couple reactors for $1M, but who is going to stroke a $70M check to build out an unproven technology?
5++ years
I agree with everything you said in your post. In fact, everything you state makes perfect sense. However, take a look at last January's shareholder update and then take a look at what actually transpired. I just had one of the worst years of my life. But you know what, I applied myself, was honest with myself about my circumstances; and some good things happened along the way.
It isn't possible to muff up everything like this with any degree of honesty and effort. The silence from San Marcos about the company's problems along with the ridiculous explanations from certain people regarding this suggests more resources are being spent to spam the internet rather than fix the problems with the QD's.
Where is the display contract? Where is the licensing fee due a year ago from Assam? Why pink sheet the company?
You'd think the CEO would be motivated. But the evidence suggests otherwise.
Business goal is to con investors? That view is so prevalent with penny stocks. That could be what they are doing but isn’t it in their best interest to have real revenue? The revenue generated from trading this stock is peanuts ??, I mean pennys! Volume is too low to have sustainable income or a worthwhile business model of scamming investors. JMO
To con naive shareholders is a possibility. Have you ever seen QMC operate otherwise under Squires?:
Why would they bother to do a webinar?
Why would it be mentioned in the webinar a potential client is possible this month?
Why all the effort with additional personal added to the company?
It seems to me they are making an effort and have a plan of action, they see a potential market and application for their product.
Is 3 cents worth the risk of success or failure? Up to each individual to decide for themselves. Risk or don’t!
Anyone who believes this is either as naive as a 4 year old or has payed no attention to how QMC has been run this year. As incompetent as Squires is he made no attempt to fix the problems with the dots that made them not viable to all OEMs during the rec2020 episode last winter. What makes anyone think they will be able to function for the blockchain network? They have never made dots commercially viable.
I wonder if QTMM will announce a Blockchain client by year's end?
If asking pointed questions is maligning, then the shoe fits as I described. Hes only doing the company and its shareholders harm by intent. Do you want to keep telling everyone 7-10 mil this year?
Questions to QMC will go unanswered unless they fit the BS narrative they propagate. Anything with substance will be ignored. What do you think has me so furious? And yes, I did ask questions politely and pointedly. Do you think the pink listing is innocent?
Furthermore calling Squires a CEO is like calling Jeff Dahmer a connoisseur. The weasel is not fit to run a one man dog walking service.
I have limited time to address this but let me start stating what I see. If anyone does not have near photographic memory please reread the shareholder update from last January. Then examine what transpired and you should fully understand why I am irate.
First of all, if a company is being properly run there is no reason not to be both open and honest with shareholders. Nothing of that sort is going on. There were supposed demonstrations of rec2020 in February and April with very interested OEM's. Nothing has been heard since by any of us. The specs were described as industry "disrupting" by Squires himself in a PR. Obviously there was a problem with the dots or a contract would have resulted long ago. Rudimentary intelligence and logic would cause management to identify the problem and then fix it so that revenues can result. The silence explains that is the furthest thing from management's mind. I assume everyone can add 2 and 2 from there.
Regarding India the facts are the Indians defaulted on the contract immediately. Excuses, statements, and promises are irrelevant in the business world. The company has since chosen to go dark. Who do you think funded the reactors? Why go dark?
Regarding this blockchain stuff. It is nothing more than an elaborate torrent. Nothing about it is cutting edge. You do not make a deal with Truitt and Williams doling out tremendous shares and salary without making them prove it is ready to go. There has been no deal in over 4 months. This could have been developed on it's own by an engineer in that time. Why was this deal made prior to the product proving itself beforehand?
There is absolutely no reason for this company to have gone through a year without doing business and go dark. And you wonder why I label Squires as I do? I'm trying to be honest. If QMC had honest management some of that January shareholder update would have come to pass. But decent management would have been necessary.
You can add more choice adjectives to the list unless of course anyone is either deluded or disingenuous enough to think Squires is hot in negotiations with OEM's for his "disrupting" displays.
Is reality hitting or are you happy with Squires?
Shoondale,whenyou assert that Mr. Squires is a (and I quote)a Pimp,Liar and SOB you are in effect stating all those that have any connection with QMC including past and present associates are either complicit or complete idiots.
First of all garbage stinks and is meant to be tossed and not lived with and inhaled.
Secondly, whether tech city is moving forward is irrelevant. QMC's involvement is. The facts are that the contract was defaulted on a year ago and @ssclown Squires puts us in the complete dark about what is actually transpiring (likely shareholders funding the premise of a deal and QMC involvement). What people state is complete BS. Pink listing and darkness is reality.
Do you have more of a con job to dole out?
The reality is QMC does not produce commercially viable product. Note rec2020.
Stop the garbage tossing please.
Quote: India died (if it ever existed)
For the umpteenth time the India project is an Amtron /Amtronic CC project not QTMM and the head of that project recently stated the project is going forward.
Does any investor still want POS pimp Squires running the company (into the ground)? Haven't we seen enough of this garbage? India died (if it ever existed) and the company is pink listed to cover it up. REC2020? The company doesn't even have a commercially acceptable QD or it would have sold it long ago. Now he hires clowns who function as he does. We could clean house and not miss a beat and at least cut the expense. We have to get rid of this SOB to salvage our investment.
Time to give this degenerate the same holiday he has given us.
Kurt, everyone had to know this before anyone at QMC opened their mouth in this webinar. If you can think of anything that came out of San Marcos this year that wasn't complete, total, and utter BS; please enlighten us? Remember rec2020?
If that's the case, then the webinar was near 100% BS
It is absolutely insane to proclaim QMC fundamentally sound:
QMC is fundamentally sound,
My sentiments exactly. This POS Squires has to go. He serves no constructive purpose to either shareholders or the company.
Wooferwax:
Maybe it is time to request a special shareholders meeting. This is gone on for too long.
Things don’t add up or make sense here anymore.
Stevie is full of surprises just in time for Christmas for his cherished and beloved shareholders.
There must be a reason he’s doing this!
The only purpose of the presentation was to placate naïve shareholders. What is needed is people to run the company in the direction of doing actual business.
If they we're not "close" there would "not" be a presentation imo :)
That's because these clowns don't realize they have to do actual business rather than endlessly pimp shareholders. Kind of like the "disrupting" display technology last winter; 3 months into the sweetheart blockchain deal these derelicts have 0 sales.
Down 17% as of now. Back to the 3’s
Elaborate web show today largely to fulfill investor hype. I think I'll take time out of my day and business to tune in. 11:00 AM EST I think. No doubt the questions will be screened like their blog. Only the yahoo crowd will be allowed to participate.
I suppose they will hope a few companies are tuning in too.
What this company really needs is management and employees that conduct actual business. Reread the January shareholder update and then look at what actually transpired this year. What happened to rec2020? Where is the 7-10 mil? Or where is the licensing fee for that matter? Why the pink sheets with investors going dark?
I can't wait for the day coming soon when Squires tries to get a few token blockchain contracts (which will dissipate ala Assam) to take investors mind off his request to increase shares and keep the gravy train tolling.
Sober up Squires and commence with the dog and pony show! Make sure the show is over so we hit the links or cocktail hour this afternoon.
I could say maybe. Just maybe. However I have lost faith in current management and company employees. There certainly is tremendous opportunity to be had. No question about that. That is why I invested in this company. But many things go wrong in life. I have seen no evidence the current makeup of the company can learn, be honest, adapt, fix problems, and execute. That is it in a nutshell to the point it disgusts me.
I'd feel a lot more comfortable if I could replace current management and employees with a number of posters on this board to say the least.
Make the best of your day everyone.
The share price is a reaction to the company's revenues, earnings, and outlook. The market, a conglomeration of many forces, is rarely wrong. It is telling you the situation is dire. This is a result of neglect and incompetence by management.
So if investors are reacting to share price, they are reacting to the performance of the company. And yes, outlook to the future is part of it. The market does not see what you see in outlook. What does that tell you?
The market is telling me changes in management are necessary. Sometimes hope is not enough. Positive action is required.
Regarding the new hires, the CRO has been around 2 months. How many sales has he made? Kind of makes a joke of the title; doesn't it?
I'd think Squires would be screaming it from rooftops and mountaintops. It would be a momentous day in QMC history to gain just a few thousand dollars let alone the other 1/2 mil.
There are plenty of ways to earn money. They could have been selling and servicing batch equipment for competitors. They could have been investing in real estate (Squires' kid on the board is in real estate) as they diluted shares (a favorite trick of mine in business, when I wasn't earning money, was to accumulate assets that would appreciate and could be sold later). They could have run a side business that could be sold after QD income is available. Squires just isn't interested in earning money. Squires has deliberately dug himself into a deep hole.
Regarding Assam, when someone defaults and remains defaulted over an extended period it usually means they are either trying to get out of a contract or just plain taking advantage of you. Either way they have no respect for Squires or regard for QMC. Everyone who has been raving about government backing in Assam, at the very least, should be asking themselves why only half the fee a couple of months late?
I actually hope Squires makes me out totally wrong with many major deals in the coming months. I'd rather profit than be right. But the way he is diluting shares makes it seem otherwise. More like he is rushing to get more outstanding shares before Assam blows up. I'm guessing a few arranged pseudo deals to make naive shareholders ooooh and aaaah to approve the share increase. At this point I'd want to only approve an increase if it accompanied Squires' resignation. I don't trust anyone that doesn't answer questions and is not accountable. I see his presence under those circumstances as toxic to shareholders.
One word on Ferrari-they are very very low volume. Ducati is a low volume cycle. Fiat is the volume player in Italy and the plum contract.
Why would any self-respecting shareholder help perpetuate a scam upon themselves? This company needs to answer the tough questions about they are not addressing the failure of their display technology and fixing it, about why Assam defaulted on the contract immediately and hasn't even paid the licensing fee, about why they have hired a CRO that makes no sales. Questions like those are filtered out.
Screw the twitter and social media nonsense. We need to conduct real business. Evidently that is unimaginable to current management
it would be great if shareholders did some commenting on Twitter by reposting and Linkedin by commenting or liking when QMC posts stuff.
Art Squires is a parasite who has lived off shareholders and returned absolutely nothing. The blog is a sham with real questions about his operation filtered out.
Do you mean CEO Stephen Squires who wrote this QMC Blog last month?
I am looking forward to many more.
Connecting the Worlds of Nanotechnology and Blockchain
Sep 23, 2019 12:34:19 PM / by Stephen Squires
... Please follow this blog to be kept up to date and feel free to leave comments. Thanks for your interest!
Stephen Squires
Written by Stephen Squires
Gee how did I know inept Squires would pull this crap again? This derelict has to go at the first opportunity. He serves no constructive purpose. He takes no responsibility. Squires only gets in the way and hinders any potential success for the company. All he does is bleed shareholders dry and return nothing. Everything this bozo gets involved with fails miserably. As long as he is CEO it will be one disappointment after another. Every shareholder should ask themselves if he is worth more to them than the money they have tied up in this. Because that is what it comes down to as he prepares to manipulate more outstanding shares from us.
I'm thinking more like extension watch.
I'm thinking more like extension watch.
Who’s on 10k filing watch?
Cash is valuable. Paper is not. If the LOC turned to cash at transfer-OK. If not anytime soon...it is a disgrace. We should have been made aware of the precise terms. After the display fiasco, Squires has earned the right not to be trusted by shareholders he keeps in the dark.
India deal: we took in 1/2 mil and gave 2 reactors plus paid for at least 2 excursions to Assam. We may be in the hole there. Lucky if we are breaking even. Don't forget the terms of the contract are on Edgar. It was immediately defaulted upon and has remained in default.
Capstan: We gave the better part of a million bucks in shares. We got open source software we could have developed from scratch considering we are 2 months into the deal. 2 months in with zero sales is not good.
I'm a shareholder and thus I look to the bottom line. I see a failure and a need for new leadership. Squires couldn't motivate a cat to chase a mouse. He hires a CRO who makes as many sales as he does.
Who got the India Deal? Who Got Capstan. Steve should be not underestimated.
Squires does seem to come up empty handed every time he touches something. We have to give him credit there. To me that is the mark of consistency. Maybe Williams should have left him home on the Italy trip and we get our first contract? The January shareholder update is still fresh on my mind and after seeing the year unfold contradictory to all Squires' predictions I feel like puking. Squires couldn't sell heat in Nome, AK if he were the only available source.
You also forgot to add that they have to sell something before they pay any royalties on anything. For all involved, that's hardly forgone conclusion.
Are these the same displays every OEM soundly rejected as too inferior to market? And Squires is too ashamed to discuss? Or displays that will be made in some non-existent Indian fab?
Is this the same license QMC received 50 cents on the dollar for from Assam?
Will they get 10% in royalties of what the defaulted contract requires? If that much? Just asking.
I forgot to add that besides getting royalties on Displays from Assam, they will also be giving us Royalties on Quantum Dot Solar Cell products, Quantum Dot LED products, and Quantum Dot Solid State Lighting products. Thats just to start before they expand the license to other products, IMO.
I need mega doses to see Squires' light.
Xanax? Psilocybin and Lysergic acid diethylamide wouldn't be enough.
Like Puravida says after Squires makes his moves; "genius" and "amazing"! I never bought Puravida'a explanations as to the silent exit from displays as defying any semblance of common sense. But you seem to have nailed Squires' strategy to best Nanosys at the "low margin" game.
You have no basis to declare the margins. You do not know costs. And QMC has not received any royalties and only 1/2 a licensing fee. Maybe Nanosys has a superior plan not dealing with third world countries that fail to pay and instead doing business with major players? They actually pull in revenues.
Because QMC changed its business plan from low-margin QD sales to License and Royalties.
Puravida how will India pay royalties when they refuse to honor the contract? They agreed to a licensing fee and only paid half of it. They agreed to pay 7-10 mil and so far it has not shown up (not one cent) in Edgar. How do you know they will suddenly honor a contract they immediately defaulted on and have steadfastly remained in default? What if they decide to only pay half the royalties if that?
India agreed to pay $7-$10M this year for training, etc. They will pay royalties on products when production begins. QMC does not have to invest capital (NO DILUTION!!)