The $1 million collaboration between QMC and Freschfield and the $2.5 million equity financing are two totally unrelated matters.
The SEC has a way of relating the unrelated. The $2.5M equity line requires QTMM to file a S-1 to register the shares the will sell to the investor(s). When QTMM files the S-1, the must disclose any material events that happened subsequent to the last 10-Q/K filed. I would think that receiving $250K from Freschfield would be significant and thus have to be disclosed.
A current shareholder made an agreement with QMC to increase his holding by $9.75 million at share price over 12 cents
If you're talking about the older equity line of credit, that deal would appear to be dead as they have missed all the deadlines in the docs they disclosed lat year.
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