My guess is that there is something that they want to develop that the investors want a lot more ownership in than the 20% or so (with warrants) that $2M would buy them with a direct investment in QTMM. Maybe under this scenario, $2M buys them 50% of whatever they intend to develop? Maybe more? Who knows what this could end up being to the shareholders in terms of dilution. It's unlimited.
What will be a big problem is if QMC management directly owns any of the JV. If that happens, we're screwed.
Agreed hence changing the BOD and CEO might be a win win for shareholders. Steve will be fine with all his shares and his cool white sunglasses in the sun.
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