We have decided to terminate the audit process and will seek alternative PINK status with OTC Markets and remove the STOP sign. We will not file an S-1 and will not seek fully reporting registration status at this time. The company will instead focus on increasing market share in its marketplace and increasing revenue streams organically.
Quantum Medical Holdings, Inc. had 10 million shares common stock issued and outstanding to our company CEO Ricky Bernard for $1,000 cash. Our CEO owned 100% of the merger sub company (Quantum Medical Holdings, Inc) outstanding common shares; no preferred stock had been issued or authorized for that company. The company had an obligation to issue 4,700,000,000 restricted common shares to Ricky Bernard in exchange for his shares in Quantum Medical Holdings, Inc. The company increased its authorized shares to 10 Billion, then issued the 4,700,000,000 control restricted common shares to Ricky Bernard. ($1,000 into $470,000 not bad for inability to complete merger/name change)
Common Stock, $0.000001 par value,
8,058,898,915 shares authorized
The company recognized operating revenue of
$978,049.87 as of September 30, 2017
As shown in the accompanying financial statements, the Company had
accumulated deficit of $222,967.19 for the period as of September 30, 2017.
As of September 30, 2017 the company had consolidated assets of consisting of $34,483.83 wheel chair receivables, Page 10 of 15
$240,000 insurance claims receivables, $115,638 fixed assets, $36,480 Cash in bank, and $1,200,000 in Goodwill.
The company valued its total assets at $1,279,747.50 due to invoice adjustments in insurance claims processing for its ambulance services.
The amount of notes payable owed to Ricky Bernard is $34,200 as of September 30, 2017
The seller exchanged the $594,031 debt plus $54,315 interest accrued and received a new note of $360,000 as part of the merger agreement.
The company mutually terminated its 3(a)10 settlement agreement with Northbridge Financial and entered into a settlement with CF3 Enterprises, LLC a New York private equity firm that acquired the company’s total outstanding debt of $1,455,000 through a 3(a)10 settlement.
($810,000 debt to $1,455,000)
NET OPERATING INCOME $21,185.45
CASH AT END OF PERIOD $ 26,480.86
