Quantum Materials Corp. (fka QTMM)

[drugmanrx]

Looks like they were short $500,000 in payments on Dec. 31, 2019

Where?

These units are now in transit for delivery to the new quantum dot production facility in Assam, India. The shipment of these two units clears the payment obligation for the first $700,000 of the sale amount which is being satisfied by a Letter of Credit established by ASSAM ELECTRONIC DEVELOPMENT CORPORATION LIMITED (Amtron) to fund this project. Once the equipment has been installed an additional $150,000 will be eligible for transfer to Quantum Materials Corp., with the final $150,000 eligible for payment to Quantum Materials once the units have been certified for production at the facility. Quantum Material's has also received orders for additional quantum dot process equipment totaling roughly $500K

Quote 1 Total $1,000,000

Quote 2 Confirming the $1,000,000 up front fee would be paid

Quote 3 it sure looks like shipment of these two units , installing of the two units, and certifying of the two units were all part of quote 1

$700,000 Plus $150,00 +$150,000 = $1,000.000
$500,000

"As of December 31, 2019 and June 30, 2019, contract liabilities were $1,197,973 and $500,000, respectively".

It appears from

upfront payment of $500,000.00 within [30] business days after the Effective Date and an additional $500,000.00

That June 2019 QMC received the first payment of $500,000 then in December 2019 QMC received the second $500,000 payment plus the additional $500,000.

JMHO