Quantum Materials Corp. (fka QTMM)

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NOTE 13 — REVENUE

During the years ended June 30, 2017 and 2016, the Company recognized revenue of $33,250 and 240,835, respectively.

The revenue recognized during the year ended June 30, 2017 was a result of the Company providing Quantum Dot samples to certain customers for testing and evaluation.

During the year ended June 30, 2016, the Company recognized revenue of $240,835. Of this amount, $225,000 is a result of the Company entering into a funded product development agreement (the “Agreement”) with leading global film manufacturer, Nitto Denko Corporation. The $225,000 represents full payment pursuant to the Agreement. The Company worked with Nitto Denko Corporation to develop quantum dot material, however the Agreement did not require specific deliverables by the Company.