Agreed, I've seen this pattern before too on several occasions.
QTMM doesn't need "local Chinese" production facilities. Squires invested in capacity in the US lab and knew very well all display and solar PV manufacturers were based in China.
The JV is with a privately held company, that doesn't need to report on anything and thus will likely never invest a penny in any QD facilities.
The JV partner company has no trace of business before 5 months ago, and there is no other news about the except this JV.
I had high hopes for this promising technology, but my spider sense now tells me we're being jerked around.
If anyone has any proof otherwise I'm happy to hear it. I am still holding shares, and not trying to bash.
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