Replies to post #10374 on Quest Patent Research Corp (QPRC)

[RagingBobNY]

Thanks Jr. Some information and some guessing.

I guess the Ten is a typo.

(ii) On March 17, 2023, we used $3,300,000 of proceeds from the QF3 financing as the cash payment portion of the purchase of a ten-patent portfolio (the “HID Portfolio”) from Tower.

Acquired in March 2023, pursuant to a purchase agreement with Tower for the purchase of seven United States patents for a purchase price of $3,300,000 (“HID Portfolio”). We requested and received a capital advance from QF3 in the amount of $3,300,000 to fund the cash payment portion of the purchase price. Pursuant to the purchase agreement, after recovery of the purchase price and a negotiated return, Tower is entitled to a portion of net proceeds, if any, as defined in the purchase agreement.