“The company will not have to pay anything to Temple until they earn meaningful revenues, and at that point it won't matter much. The fact that Temple is deferring proves that point. “
That’s completely false. According the MRQ:
“As of March 31, 2018, and December 31, 2017, total unpaid fees due to Temple pursuant to these agreements amounted to $905,000 and $842,000, respectively, which are included as part of Accounts payable – licensing agreements in the accompanying consolidated balance sheets. With regards to the unpaid fees to Temple, a total of $52,000 are current, $392,000 are deferred until such time the Company achieves a revenue milestone of $835,000 or upon termination of the licensing agreements and the remaining $461,000 are deemed past due. The past due amount of $461,000 is owed pursuant to the First Temple License. The Company is currently in negotiations with Temple to settle or cure the past due balance.”
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Temple University Sponsored Research Agreement
From March 2012 through August 2015, the Company Temple University (“Temple”) provided research services at a fixed annual cost under a Sponsored Research Agreement (“Research Agreement”). The Research Agreement expired in August 2015. Temple University continues to perform laboratory tests on an as-needed basis, expenses are incurred on a per-test basis.
As of March 31, 2018, and December 31, 2017, total unpaid fees due to Temple pursuant to the Research Agreement were $10,000, which are included as part of Accounts payable – licensing agreements in the accompanying consolidated balance sheets. As of March 31, 2018, the entire $10,000 is deemed past due.”
Even Tao’s slush fund is now past due. The companies is in such seriously bad financial shape that there is no real getting around it. Yes I know...the loyal believe Qsep is unlike 98% of the other otc but that’s just wishful thinking. Until they demonstrate they can achieve sales and built out a real network of customers all claims of ROI or other postulated returns is just more fluff.
No matter how it is spun Qsep has been paying blood money to Temple for years just to get a fake rubber stamp of legitimacy. It was and remains a monumental waste of money. This is basically the root of the problem. Qsep execs have been lousy stewards of the capital
shareholders have committed. Millions have been flushed down the toilet yet the latest management team gets accolades doing zip after 12 months on the job.
