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Highly recommend reading the latest SEC filings. It'll bring you up to speed on the last 6 months (which had numerous developments) and explains the revocation, as Long said.
It's been like that for a while.
I "assume" it's because another version (Innova/QMC version) will come out at some point.
Scientists are still crunching the numbers as we speak.
Preliminary reports do suggest that delistment is a value lower than .007
Thanks for the clarification.
I believe the next step after this hearing is the SEC filing QMC's revocation. Within that file, the SEC will highlight whether or not QMC attended, and any decisions thereafter:
https://sec.report/Form/REVOKED
Don't blame her for how she feels. Minimum trust in Squire's as of late due to recent actions.
Hope Squire's doesn't skip out on today's hearing like he did last time. Not a good look.
Let's see what happens.
Jesus Christ. At this point, not even surprised.
Thanks Ted for the update.
Current Status of QMC per 10-Q
QTMM's shares will be revoked. Shares de-listed, and no longer trading on the OTC market:
Important to note:
I believe the post, with it's contents, are self explanatory.
QMC's shares will be revoked:
Following the filing of this Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2019, the Company will be entering into an Offer of Settlement with the SEC which will result in the revocation of the registration of Company’s securities pursuant to Section 12 of the Exchange Act, thereby terminating the Company Section 12(g) reporting obligations with the SEC .
Following the revocation of registration and termination of its reporting status, the Company intends to once again become a reporting issuer with the SEC and to re-commence its filings with the SEC at the earliest practicable date. In that regard, the Company is diligently working with its auditors and securities counsel to compile, disseminate and review the financial and other current information required to be presented in its public filings, and to prepare and file a registration statement to once again become a reporting issuer. Thereafter, and subject to satisfaction of all regulatory approvals, it will seek to once again have its shares of common stock traded on the OTC Market.
Notwithstanding the Trading Suspension and the revocation of the registration and termination of reporting status, the management continues to be dedicated to working on the development and commercialization of the Company’s QD enabled products and technologies with particular focus on point of care testing solutions, solar and anti-counterfeiting. We are also continuing our efforts on the deployment of our QMC HeathID App while its research and development team are fully engaged pushing the boundaries of our nano-materials.
SEC Filing:
10-Q, for the periodic ending 12/31/2019
https://sec.report/Document/0001493152-21-015143/#form10-q.htm
10-Q:
https://sec.report/Document/0001493152-21-015143/0001493152-21-015143.txt
Good eye, although I believe "maitenance" would still be a good term for it. Good to know though that it is probably due to the FDA response.
Isn't it?
Frustrating.
I wonder if the companies that supplies QMC the equipment and materials they use made any money, or if they are in business.
Since QMC never mentions their suppliers, I'll assume they are unsuccessful.
Hopefully I can find an article with their name slapped somewhere on it to prove me wrong.
Good news on the UK front. Now they need to fix any outstanding items on the US front.
Post 100923 references insider trading, and wouldn't insider info be privy for insider trading?
View is better from the cheap seats than the ivory tower, in my opinion.
lol.
So wait a second.... please tell me what's different here:
"This stock will crash because of 'XYZ'".
Or
"This stock won't crash because of 'ABC'".
Who know if anyone here is telling the truth. I can slap the statement "I know an insider" to any of my statements.
Example:
"I know an insider who says that this stock will be at $100 by August".
Please, report away LOL
Oh man, wish I could buy shares on this "insider info".
Oh wait....
Shareholders Update
San Marcos, TX, June 03, 2021 (GLOBE NEWSWIRE)
Quantum Materials Corp (QTMM) (“Quantum” or the “Company”), a leading American nanomaterial and cadmium free quantum dot producer and product company, is issuing this release to provide shareholder and investors with information regarding the Company and in light of the 10 trading day order of suspension issued by the Securities and Exchange Commission (the “Commission”) on May 12, 2021 due to a lack of current information as a result of the failure to file certain periodic reports under the Company’s reporting obligations with the Commission. The trading halt, which commenced at 9:30am on May 13, 2021 and terminated at 11:59pm on May 26, 2021, has resulted in the Company’s shares no longer being quoted or traded on the Pink Tier operated by the OTC Markets Group, Inc. At this time, no firm is making a market in the Company’s common stock on OTC Link, and the OTC Markets Group Inc. has discontinued the display of quotes on the OTC Markets site. The shares can now only be located and traded on the Expert Market, which is a private market to serve broker-dealer pricing and best execution needs in securities that are restricted from public quoting or trading.
The Commission also has issued an order instituting administrative proceedings to determine whether it is necessary to revoke the Company’s registration under the Securities Exchange Act of 1934. The Company had previously received correspondence from the Commission in December 2020 related to the delinquency of it filing obligations and had proposed a plan to regain compliance with its reporting obligations. Unfortunately, the Company was unable to meet its proposed plan and currently remains delinquent with respect to its filing obligations.
The Company has retained securities counsel who have communicated with the SEC and is exploring the most efficient way that it can once again become a current reporting company with the Commission.
Quantum Materials Corp CEO Stephen Squires stated, “providing the public with current and complete information regarding the Company and its business and operations, and allowing our shareholders to trade the Company’s common stock, is a priority for me and management, and existing shareholders can be assured that the expedient resumption of reporting and trading is of the utmost importance to us.”
"The Company intends to work diligently with its advisors to prepare the required financial and other information needed to address the SEC issue. Concurrently, we are also continuing work on the development and commercialization of our quantum dot enabled products and technologies with particular focus on point of care testing solutions, solar and anti-counterfeiting. We are also continuing our efforts on the deployment of our QMC HeathID App while our R&D team are fully engaged pushing the boundaries of our nano-materials.”
About Quantum Materials Corp
At Quantum Materials Corp, our scientists and engineers believe in the power of innovation. Our goal, whether its applied research into quantum materials, the development of advanced digital platforms, or creating new tools for personal health, is to find inspiration in discovering new solutions to build a better future for all. Quantum Materials is pioneering unique solutions in the area of quantum dot fabrication, quantum tagging, digital trust systems, and most recently, in the development of QMC HealthID™. Our team comprises experts in the areas of quantum materials, nanotechnology, health diagnostics, therapeutic health, digital platforms, advanced logistics, and anti-counterfeiting. As a company, we believe in collaboration. We find that innovation begins with the spark of a new insight that is rigorously pursued in a collegial and interdisciplinary environment. Bringing breakthrough ideas to life and forging new solutions which inspires our work is our continual goal.?For more information, visit Quantum Materials Corp at?www.quantummaterialscorp.com
https://www.globenewswire.com/news-release/2021/06/03/2241777/0/en/Quantum-Materials-Shareholder-Update.html
We are comparing an OTC pink start-up compared to a NASDAQ company trading above $20 (previously at $60).
Lets not act as if QMC and PLUG are on the same playing field with regards to having their things straight. QMC was/is still working up to getting their sh*t together.
I do agree that this shouldn't have happened, and a courtesy notice from Squire's back in December should have happened.
I really hope so. The SEC is what I'm primarily worried about.
Something interesting I found on that press release....
The media contact is different. It's from a W20 "realchemestry.com" location.
https://www.realchemistry.com/
https://www.w2ogroup.com/
Real chemistry appears to be some type of marketing firm that connects Data/Technology, Clinical, Commercial, and Corporate/Services related to the healthcare industry:
W20 is a "part of Real Chemistry, a Global Health Innovation Company. Our promise: To improve patient health outcomes by partnering with companies who want to reimagine health care."
A "leading agency for analytics-driven, digital-first healthcare marketing and communications."
https://www.w2ogroup.com/healthcare/
Some interesting stuff. All means nothing if QMC doesn't get their act together.
"I think I am owed a reason the stock has suspended from trading."
LOL, ain't that the truth. Thank you for letting us know. It'll be interesting to see what he has to say.
You should probably post the response to that as well, instead of only "part" of the picture:
Posted By: Djpele
Re: Puravida19 #19753
"It appears the case was terminated because a judgement was reached by the judge on the 7th, signifying the end of the case.
L2 has 21 days since the 7th to submit an itemized claim for QMC to pay, along with QMC being provided 14 days to object. I wouldn't think L2 created that itemization within that timeframe, let alone QMC reviewing it and not objecting."
I hope you are correct, but to be honest, I'm not that optimistic.
Many companies have been suspended and revoked due to lack of filings, and very, very few have come back from the brink.
The only saving grace, in my opinion is the current partnership with Pasaca, the recent submitted filings, and the goal/intent to come current with regards to the SEC filings between QMC and Pasaca.
Let's hope Squires didn't wait too long.
Asked another question:
1. My Question:
If the company does file a new Form 10 or S-1 to publicly trad again, does the prior/existing share structure stay intact, and do shareholders keep their previously owned shares? Or would commons be wiped out as a new share structure would be put in place?
Answer:
If the company does file a new Form 10 or S-1 to publicly trad again, does the prior/existing share structure stay intact, and do shareholders keep their previously owned shares? Or would commons be wiped out as a new share structure would be put in place?
Understood
Final question Janice:
If the company does file a new Form 10 or S-1 to publicly trad again, does the prior/existing share structure stay intact, and do shareholders keep their previously owned shares? Or would commons be wiped out as a new share structure would be put in place?
Asked two questions on the DD Support Board and Research Team chat room on Ihub. Take this and make your own conclusions:
1. My First Question:
If the SEC issues a temporary trading suspension for a duration of time (2 weeks), does that security resume trading after the suspension period ends, pending an administrative hearing?
Answer:
When the suspension expires, the stock will resume trading on the Grey Market. If the SEC has already initiated an admin proceeding, it will continue.
2. My second Question:
Also, if a company is in suspension and shortly files any/all required filings, do they resume trading with relative ease?
Answer:
No. For at least five years now, the SEC's policy has been to suggest to these companies that they accept revocation of registration, and then, if they want to remain public, to file a new Form 10 or S-1. The company can try to fight, as a few have, but that's a waste of time and money.
Quick question for the DD team
If the SEC issues a temporary trading suspension for a duration of time (2 weeks), does that security resume trading after the suspension period ends, pending an administrative hearing?
Also, if a company is in suspension and shortly files any/all required filings, do they resume trading with relative ease?
Thanks.
Does trading resume on May 26th, as this is just a temporary suspension?
Confirm Bioscience with regards to it's Orient Gene LFT appears to have distributed it's tests outside the EUA to non certified clinical laboratories:
Right, many thanks.
I think this is an excellent summary.
Losing a couple hundred thousand dollars vs have to pay nefarious "penalties" L2 were claiming, on top of the amount of shares they wanted is a win.
What I find interesting is that the court appears to have determined that L2 condition's on its contract with Quantum were "designed to put an end to Quantum with very little if anything at all actually lost by the Plaintiffs."
Hard to know for sure what was discussed and expected between Squires/Minns and L2/SBI, other than what is documented from these court docs.
We at least know what the conclusion is.
QMC probably figured that they would incurr a larger financial loss if L2 was given shares, vice what they have to pay now.
Didn't L2 want something ridiculous? Not sure of the number.
I agree with this. It'll be interesting to see what Minns and Squire's "found" that propelled them to increase the $ amount of damages.
Crazier things have happened.