Replies to post #69687 on Quantum Materials Corp. (fka QTMM)

[RPR]

I think they want to see our February Demo with our remote On-chip QD in a demo TV before transferring the actual money . They have completed transfer and internal approvals but waiting for something.

[whirlybird]

Yes, indeed, you are right vajus. The Effective Date of the Amtronics/QMC Agreement was November 19, 2018. $500,000 was due within 30 days and another $500,000 within 60 days of the agreement. Technical default seems to have occurred, but there may have been an extension (maybe a tacit understanding) of another month making the due date Feb. 20th. I don't know and QMC has not offered an explanation to the best of my knowledge. QMC needs to explain more. In the absence of more disclosure and $1 million not being received this month, the pps will almost certainly drop more. I intend to continue buying, however, because bad faith has not been proven yet. CEO Squires seems relatively indifferent to timely but unmandated disclosure.

[hookem]

From the 10q bottom of page 32 under license.

On or about December 23, 2018, Assam Electronics Development Corporation LTD (an Indian government enterprise involved in the development of the manufacturing facility in India) paid the first investment of $1M USD into the overall project fund. Amtronics then transferred a $500K USD commitment fee to the group that has secured the $20M investment funding. In terms of direct funding to the Company, on December 29, 2018 the Company received a letter from the managing director of the Assam Electronics Development Corporation LTD confirming that the $1M USD upfront license fee would be paid to the Company on or before January 31, 2019. The Company has recently been provided additional validation that the governmental transfer approval was complete and that funds should be received by the Company on or before February 20, 2019.

Hook’em!