The company did issue shares for those defunct funding agreements within the last 9 months or so. I assume they had 6 month restrictions on them as my restricted stocks did when I did my private placement.
Of course, there's no way for us to validate this happened since they don't have any reporting requirements.
The number of shares given to Lincoln, L2, and SBI equal almost 4 million shares. When that kind of volume is dropped, the market tends to follow the seller.
On May 19, 2017, the Company entered into two waiver and consent agreements with Lincoln Park Capital Fund, LLC (“Lincoln Park”) whereby the parties agreed that the prior equity line of credit agreement entered into on November 8, 2016 is canceled and various covenants made with respect to a $200,000 loan were waived in connection with certain loan transactions and in consideration thereof, the Company agreed to issue 1,000,000 shares of common stock to Lincoln Park in settlement of all claims.
In connection with the loan transactions, the Company is issued warrants to each lender. In connection with the first tranche, the Company issued to SBI warrants to purchase 253,525 shares and the Company issued to L2 Capital warrants to purchase 760,576 shares.
It's straight forward just not applicable in this situation. I sold off 2.7 M shares at .12 - .14 so I just don't really see myself as a small investor. And I'm not reacting based on company timelines at all. The companies timelines have never been accurate at all when it comes to QMC. But totally agree that it's wonderful there has been so many shares available at this price range but it was predictable after the proxy a few months ago