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You asked about issuing shares, not about registering shares.
In august 2019 oustanding shares went up by 30 million. The Capstan closing date was 8/6/19 and first payment was $325K at $0.0286 per share or 11.3 million shares.
Second payment was on 11/5/19 and about 8 million shares. O/S did not go up in November.
https://www.fda.gov/medical-devices/coronavirus-disease-2019-covid-19-emergency-use-authorizations-medical-devices/vitro-diagnostics-euas
Authorized under EUAs as of 8/13/20:
138 Virus tests -- Individual EUAs for Molecular Diagnostic Tests for SARS-CoV-2
35 Labs -- Umbrella EUA for Molecular Diagnostic Tests for SARS-CoV-2 Developed And Performed By Laboratories Certified Under CLIA To Perform High Complexity Tests
2 Antigen tests -- Individual EUAs for Antigen Diagnostic Tests for SARS-CoV-2
37 Antibody tests -- Individual EUAs for Serology Tests for SARS-CoV-2
None (originally over 100 but EUA was revoked 7/21/20) -- Umbrella EUA for Independently Validated Serology Tests for SARS-CoV-2
Window dressing. The 8-K adds "more significance" to the PR for some people. But the reality is, its just a PR.
They are not claiming these to be material events (Item 1.01), they are all being issued under fair disclose, Item 7.01. Not required but at the discretion of the company.
Not a lot of hiring going on during the Covid lockdown in March 2020.
The former Business Development Manager, Justin Joiner, left in March 2020.
You keep complaining that they are not closing big enough deals, so now they may have a better closer in Immel.
"Since PR mentions there are only 12 approved test kits."
There are 37 FDA individually authorized antibody tests.
https://www.fda.gov/medical-devices/coronavirus-disease-2019-covid-19-emergency-use-authorizations-medical-devices/eua-authorized-serology-test-performance
"This seems to be the first approved company."
That was the first EUA authorized saliva virus test, not antibody test.
MIG USA was suppose to start manufacturing test kits at its facility in High Point North Caroline and to have its employees tested using the HealthID App.
The only testing facilities in NC shown on the QDXH website map are in Charlotte NC (Mecklenburg County), none in High Point.
https://cobra.maps.arcgis.com/apps/webappviewer/index.html?id=d52690813f4d4855829d286a1e4ee1e5
In addition, the 3 test sites listed in the App as being in Atlanta GA are not shown on the HealthID website map. The map only shows test sites in Fulton County GA.
Well your best chance is listening to this afternoon's webinar.
Maybe.
Mitsubisi as the end user in Japan.
https://www.mitsubishi.com/en/
Karlsruhe Institute of Technology (KIT) as the German Research Facility
https://www.kit.edu/kit/english/index.php
Ermaksan Innovative Technologies as the Turkish 3D printer manufacturer
http://www.ermaksan.com.tr/USA/
Or previously mentioned printer OEM's DMG Mori and Coherent.
"If it looked promising do you think (I don’t) Trumpf would wait until after announcement to begin to sell."
You sign the deal and then announce the deal, so yes you would wait until the deal is signed and announced before you would start selling. Also the sales people have to be trained so they can do a proper sales pitch.
Also from the QMC PR "Additionally, MIG USA is including QDX™ HealthID as part of usability testing submission to the FDA."
That tells me that the submission to FDA is quite recent.
Couple of points.
The March PR was referring to test kits that were probably manufactured in Hong Kong and German for the Chinese and sold to MIG USA.
Those tests may have had a different label and may have been submitted for EUA under the earlier FDA Umbrella EUA.
I'm not sure I have figured out what the FDA is doing, but it appears that the FDA has revoked the earlier Umbrella EUA on July 21 2020.
https://www.fda.gov/media/140351/download
Well that info seems to pre-date Vitak LLC incorporation in Delaware on 3/30/30.
I assume that MIG USA bought the test rights from the Chinese before 3/30, but it took time to complete the Delaware paperwork.
well you need a majority of independent directors if you are listed on the NASDAQ, but QMC is a long way from that.
Total Stockholders' Equity $3,559,812
That confirms the NASDAQ listing standard was met.
Second Quarter 2020 Financial Results
Revenue for the second quarter of 2020 totaled $0.2 million. This compares to revenues of $34 thousand for the second quarter of 2019. The increase in revenue was due to a PrintRite3D® unit sale, as well as revenue recognized under the legacy Rapid Test and Evaluation ("RTE") program and an in-house RTE during the quarter.
Gross profit for the second quarter of 2020 was $0.1 million as compared to negative $27 thousand in the second quarter of 2019.
Total operating expenses for the second quarter of 2020 were $1.53 million as compared to total operating expenses of $1.57 million for the same period in 2019.
Cash used in operating activities for the six months ended June 30, 2020 totaled $2.4 million compared to $2.7 million in the first six months ended June 20, 2019. Approximately $400 thousand of this amount was due to trade accounts payables carried over from 2019 due to a delay in financing.
Net loss for the second quarter of 2020 was $1.6 million, or $(0.49) per share, as compared to a net loss of $1.6 million, or $(1.50) per share, in the second quarter of 2019.
Cash totaled $2.5 million at June 30, 2020, as compared to $0.6 million at March 31, 2020 and $0.6 million at June 30, 2019.
No, MicrogenDX is listed as an Authorized Molecular test as of 4/23/20.
That's why I provided you with the link to the list,so you find it yourself.
Here's the link to the EUA authorized lists:
https://www.fda.gov/medical-devices/coronavirus-disease-2019-covid-19-emergency-use-authorizations-medical-devices/vitro-diagnostics-euas
And here is the list of antibody tests that were on the EUA list but that the FDA has removed from the list. 77 tests as of today, was 71 tests a few days ago.
"What Tests Should No Longer Be Used and/or Distributed for COVID-19?"
https://www.fda.gov/medical-devices/emergency-situations-medical-devices/faqs-testing-sars-cov-2#nolonger
"Because getting paid to allow a PR is fraud!"
"QMC may have paid MicroGenDX to allow HealthId access."
I see three possibilities.
1. Microgen allows QMC to list their test services in the HealthID app at no cost to either party since both parties can benefit.
2. Microgen needs another way to market and distribute their test services and agrees to either pay QMC a one time upfront fee to include Microgen in the App or pays QMC a fee for each Microgen test that QMC "sells" via the App.
3. The flip side is if Microgen has no trouble selling their services direct to companies, governments or individuals and wants to obtain the full value for their services, why cut in a middle man? In this case, if QMC wants to provide their App users (companies or individuals) with the convenience of selecting a particular Covid test, which has been setup to be authenticated in the App, with the test results recorded in a secure way, and then those authenticated results shared, then QMC may need to pay Microgen a fee. The more test choices QMC can include in the App, the more useable the App will be. If an App user goes to a local clinic or drive-thru test site since it is convenient and the test being performed is not included in the App, then QMC loses a sale.
If HealthID proves to be the go-to App, then QMC would be more likely to be able sign up test makers for free or demand a fee. But at this point who has the bigger need? QMC or the test maker?
Since the PR did not mention any fees (going either way) and did not indicate that “financial terms were not disclosed”, I’m inclined to go with Option 1 for the test makers, no fees.
However, if fees are going to be paid either to or by QMC, I don’t see how the PR could be considered fraud as long as QMC includes Microgen as an option in the App per the agreement.
If QMC was required to pay Microgen a fee to entice Microgen to sign the agreement and allow QMC to include Microgen in the App, I don’t see any fraud.
However, if Microgen was required to pay QMC a fee to include their services in the App and QMC took the money and failed include it in the App, then I would consider that to be fraud.
Personally I think the more likely avenue for real revenues from the App will have to come from companies that signup as users and then offer or require their employees and/or customers to use the app to return to work or enter their venues. Those companies are the ones that may be able to benefit from using the App and could be convinced that it has value and to pay for it.
At this point I don’t think revenues from the test makers should be assumed to occur.
You're right that container has been there for over a year.
The latest master plan does have that area basically split in half, but back at the end of 2018, they started doing the ground work with more of a 2/3-1/3 west-east split. At that time I think AMTRON's new Swift Center was going to be built on that plot but the separate Swift center seemed to get dropped (financing?) and "combined/replaced" the Common Facility Building further west. So early 2019 the proposed Nano factory was "expanding" and got located on that plot.
The container placement may have been to keep out of the way, if the factory was going to "fill" the western half of the two plots. But who knows with the limited info.
My conclusion about the 120k vs the 75k size is that they wanted to go 120k but had to scale back because the cost of the 120k factory exceeded the $82 million budget and/or Amtronics CC couldn't raise the entire $50 million to reach that budget goal.
2/2018
8/2018
10/2019
I don't see people posting their health status on social media as being helpful to QMC.
What would be helpful would be if they post something along the lines of "My company is using QDX HealthID so we can return to work safely and I'm glad to be back at work." QDX logo. That could be beneficial to QMC down the road once the product is in use.
"Family, friends, 3rd parties....it can be shared via social media."
Are you going to share your status or a link to your HealthID App status on Facebook? Not very secure in keeping your information private. Would also be easy to fake a "Green" status on facebook.
The point of the APP is you can securely share your status with others from the App.
"Companies use those same platforms (social media) to promote said product's."
QMC's last post on Facebook was announcing Hartigan as CRO in Sept 2019.
"dated 7/13/2020 the same day QMC renewed doing business in Texas again."
7/13/20 was the day I looked up the status of QMC's registration and screen printed it.
K&L Gates filed their petition for review with the Texas Supreme Court on 6/3/20.
On 6/12/20 QMC filed their response waiver.
"I partly agree with you, there should be sales in place pre-launch, but this is not the type of produce they will necessary have sales on it launch date or a few days later."
There's 2 dozen companies that have completed their beta testing of the software. They know how it works, they want to open their businesses safely, Covid is getting worse. Why won't they pony up their money on launch day and sign a contract?
"QMC does not have the advertising budget of Apple to build a hunger for its product on launch date."
Frankly I don't remember seeing an ad from Apple in years. They just have great marketing people that create the hype and get others to create the demand. How many marketing and sales geniuses has QMC brought on board the last few months? Here is another new one.
Michael Glavich -- VP, Corp Sales & Business Development at Quantum Materials Corp and QDX HealthID
"How much word you think QMC was able to get out there about QDX HealthID on the limited amount of resources at their disposal?"
All this high powered talent they have brought on board and no one knows about the world's best App that is going to save the world and the economy? The NFL wants it. This is going global!
They may be too busy to get all the PR's out his week, but surely they will get them out next week.
Also interesting to see that QMC finally filing its required Annual List with Nevada on 5/28/20. It was due on 1/31/20.
More like millimetre by millimetre, but better than nothing.
A little surprised that QDX HID did not use the same registration agent that QMC uses in Nevada (BLUMBERGEXCELSIOR CORPORATE SERVICES, INC.) rather than CT Corp.
Solterra also used BLUMBERGEXCELSIOR in Delaware.
When Apple launches a new iPhone, are there no sales for 2 months? No, sales occur on the launch day (and even pre-sales before, if offered).
Now, QMC is not Apple, but HealthID has been marketed since April, alpha tested in May, beta tested by at least a dozen potential customers in June (that’s what beta testing is), and the launch “scheduled” for mid-July. According to some, this is a life or death product or a business/economy saving product, why would the beta testers not be ready to buy when the product is launched?
Are these businesses going to sit around for another two months evaluating the software? Or are they going to buy and get back to work as soon as possible? It’s not like Covid is currently on pause.
Just to lay things out. When AMTRON got approval for developing Tech City in Feb 2018, the approval document specified a completion time of eleven months, or January 2019.
This milestone was for AMTRON to complete the development of the infrastructure for the 102 acre site and the completion of the Common Facility Centre Building. The original budget for this work was $17 million.
It appears that much of the site infrastructure has been completed, including the artificial lake which seems effective at controlling flooding within the site boundary. The building sites have been layout but most of the finished road work is delayed by lack of actual construction on the building sites.
AMTRON started construction of the common building foundations in Oct 2018 and by early 2020 they have barely completed the superstructure. Completion by mid-2021 stretches the 11 month timeline to over 40 months so I doubt the original $17 million was enough.
So how long will the $82 million Nano Factory take once its foundation gets laid? Sure they claimed that they were doing off site prefab last year but that's a completely different budget.