The Nitto agreement is 4 months of silence if you look at the 10Q for 225K. The 23rd of Jan is the end of this period (4 months since the PR). The problem is that CES is starting tomorrow and we may not hear anything. In the bigger picture QMC Nitto looks solid to this observer they are a multi Billion dollar company.
NOTE 6 — DEFERRED REVENUE
During the three months ended September 30, 2015, the Company recorded $225,000 of deferred revenue. This represents full payment pursuant to the previously announced funded development agreement with Nitto Denko Corporation (the “Agreement”). The Agreement does not require specific deliverables by the Company, however it does place certain restrictions on the Company’s ability to communicate with a limited number of specifically named businesses during the four month term of the Agreement. Management does not believe that the restrictions have a material negative affect on the Company’s business prospects.
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