Replies to post #69653 on Quantum Materials Corp. (fka QTMM)

[Lowly Public Servant]

Not trying to say it won’t be just what is in the update. Just concerned why it’s written differently in the 10q
Is the below the legal bs hoops they have to jump through? I hope that the 7-8mill comes in mid feb as in the update. Why isn’t it written in below like that? I hope we received the 1 mill by Jan 31 as in the update. Why isn’t it written like that below? I am all in on this but again I’m just trying to understand why the update and q timelines and numbers are different, or if it matters.

On November 19, 2018, the Company entered into a License and Development Agreement with Amtronics India LLC relating to the production of quantum dots. Pursuant to the agreement, the Company licensed its patents related to its quantum dots (nanoscale semiconductor crystals) for solar cells and LED lighting. The license is limited to the manufacture of quantum dots, thin film quantum dot solar cells, and light emitting diodes for lighting and display applications and the territory of the State of Assam, Republic of India.

In consideration of the license, Amtronics agreed to pay the Company an upfront fee of $500,000 within thirty days of the agreement and an additional $500,000 within sixty days of the date of the agreement. During the term of the agreement, Amtronics will purchase equipment necessary for the production of the licensed products in an aggregate amount of $3,250,000, subject to payment terms related to delivery and setup.

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The Company has also agreed to provide consulting services for additional fees related to the design of the manufacturing facility and training and consulting services for manufacturing and for the implementation and operation of the equipment purchased under the agreement.

The agreement provides that Amtronics is required to devote commercially reasonable efforts to commercialize, develop and manufacture products described in the agreement and will be deemed to have satisfied this requirement upon meeting certain milestones described in the agreement. The Company is required to continue to improve and optimize its technology under milestone requirements in the agreement.

Amtronics will pay to the Company a royalty on gross sales under the license, including annual minimum royalties beginning in 2021.