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Replies to post #103890 on Quantum Materials Corp. (fka QTMM)
drugmanrx
03/31/23 3:39 PM
#103891 RE: Kurt_Banoffee #103890
Please explain how the new captain at the wheel is going to turn this around, let alone with the shareholders in tact?
Hi and thank you for your inquiry, The company and its staff are intensely focused on optimizing its rapid diagnostic test platform technologies. We have organized clinical trials for our covid, flu, RSV multi-test and anticipate these should begin early May 2023 with the goal of having this test available for the next flu season. Our pre-submission has already been submitted to the FDA and we believe this test will be processed under the EUA. We are continuing to develop our long covid rapid test striving to have it ready for clinical trials before the end of 2023. Our CFO and his staff re continuing to work to position the company to submit an S1 before the end of this year. In the meantime, our limited financial resources will continue to be largely focused on the commercialization of our products until such a time sustainable revenues are achieved. Thank you again for your inquiry and your patience as we work to bring our disruptive technologies to market. Amber
My guess is that if the company goes into receivership then any assets with value would get seized/sold off in Bankruptcy Court.
A receivership is a court-appointed tool that can help creditors to recover funds they're owed. It can help troubled companies to avoid bankruptcy. The goal of a receivership is to return companies to profitability. In a receivership, the court appoints an independent "receiver" (or trustee) to manage all aspects of a troubled company's business . For the duration of a receivership, the company's principals remain in place (but they have little authority over the company)