Quantum Materials Corp. (fka QTMM)

[puravida19]

The Shareholders Update states $7-10 million revenues - No confusion

On or about December 23 2018 the co-licensee, Assam Electronics Development Corporation LTD (an Indian government enterprise), paid the first investment of $1M USD into the overall project fund. Amtronics (co-licensee) in turn transferred a $500K USD commitment fee to the group that has secured the $20M investment funding. In terms of direct funding to QMC, on December 29, 2018 we received a letter from the managing director of the Assam Electronics Development Corporation LTD., confirming that the requisite $1M USD upfront license fee would be paid to QMC on or before January 31, 2019. Additionally, the licensee is required to place an order for two micro reactors and make an 80% deposit against same on or before mid-February 2019. We anticipate the company can generate $7M to $10M in gross revenues from these activities.