I emailed IR, got response back from Stephen Hart within a few hours. Don't want to screen shot with my name and contact details.. so you'll have to take my word for it... just asked about current state of company and recent SP activity. Im invested, no motive here just trying to uncover actual facts.
Happy to answer your questions regarding QSIM.
The recent decline on increased liquidity in the stock price is from the Company defaulting on $700,000 of Convertible Notes.
The Note investors then decided to convert their Notes into common shares at a discount to market.
All but $50,000 of the Notes have now been converted.
The good news is that $650,000 of debt on the balance sheet is now gone.
The bad news is that QSIM stock price is now $0.005.
But at the end of the day having 250 million shares outstanding at $0.01 is the same valuation of having 25 million shares outstanding at $0.10. Same $2.5 million valuation.
QSIM is still working closely with Casale and in negotiations with plants in India and hopes to secure an agreement with one plant any week/month now.
I hope this helps.
Happy to answer any additional questions.
Stephen Hart
Head of Capital Markets Advisory
New York City - Minneapolis - Phoenix - San Diego
1441 Broadway, Suite 5013
New York, New York 10018
(917) 658-7878