I don't know. Maybe or maybe not. Just because you announce something doesn't mean it's material nor does an announcement necessarily make something material. They didn't even file an 8-K for the press release that announced the deal.
They also never said how the payments will be made. The assumptions have been $250K/Q, but how do we know it's not heavily end weighted? Or based on progress milestones that could make the Q1 payment $0?
For that matter, it may be alive and well and not show up in the 10-K in any case. The announcement said "Freschfield will fund development by providing $1 million over four quarters to Quantum Materials beginning June 2017." Maybe the first "quarter" is Jun-Jul-Aug? If that's the case, if it funded today, we might not know until mid-November.
Again, I'm not saying I think it's dead. I'm simply pointing out that we don't know how much, if any, has been funded to date and it's entirely conceivable that it could be cancelled today without any cost to Freschfield.
