Replies to post #4021 on OMNIQ Corp (OMQS)

[Light-man]

No doubt. Very frustrating when this type B.S. goes on. Knew something was up with the unexplained dips when all we had was positive news. Now that the shorters have enriched themselves using "leaked info" the rest of us didn't have, maybe we can get down to business.
I'm remaining optimistic that this restricted stock deal they are using to raise capital is going to be good in the long term. At least it will bring higher profile investors into the mix. God knows we need more stakeholders in this game than what we have now. Doesn't look like a RS is happening any time soon either.

Like you said, going to be an interesting year.

[goforthebet]

Quest Solution, Inc. Announces $5 Million Private Placement

By
Published: Apr 4, 2019 5:39 p.m. ET



SALT LAKE CITY, April 04, Apr 04, 2019 (GLOBE NEWSWIRE via COMTEX) -- SALT LAKE CITY, April 04, 2019 (GLOBE NEWSWIRE) -- Quest Solution, Inc. (otcqb:QUES) ("Quest" or the "Company"), a provider of Supply Chain and Artificial Intelligence (AI)-based Machine Vision solutions, announced it has entered into a securities purchase agreement with institutional and accredited investors, which will result in gross proceeds to Quest of approximately $5 million, before deducting placement agent fees and estimated offering expenses.

ThinkEquity, a division of Fordham Financial Management, Inc. is acting as sole placement agent for the offering.

The net proceeds of the offering are expected to be used for the development of Artificial Intelligence and Machine Learning solutions for school security, smart city and supply chain as well as for increasing sales and marketing efforts and for general working capital.

Shai Lustgarten, CEO of Quest Solution stated: "We believe this transaction represents a milestone in our Company's progress to becoming a leading provider of Artificial Intelligence - Machine Learning based solutions. We currently have a solid portfolio of patented and successful solutions that leverage our pattern recognition technology for use in vital security applications as well as for commercial applications like parking automation and warehouse management. We are excited about the opportunities the Company is seeing in the multi-billion dollar markets we participate in, particularly for our school security solution that can address the needs of the more than 100,000 K-12 schools in the U.S. and opportunities around our ability to enable faster, ticketless smart parking."

Mr. Lustgarten continued, "With Quest's IP and patents, we believe we are advantageously positioned to continue developing and bringing to market exceptional AI solutions. We plan to pursue a listing on a national exchange which we believe will introduce Quest to a broader audience and create future opportunities."

The securities issuable upon closing of the offering consist of unregistered shares of common stock at a purchase price of $0.30 per share. For each share purchased, investors will receive a warrant to purchase a share of common stock at an exercise price equal to $0.35 per share, which warrants are exercisable for a period of five and one-half years from the issuance date. This private placement is expected to close on April 5, 2019, subject to customary closing conditions.