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Quantum Materials Corp. QTMM
(Total Views: 713)
Posted On: 05/19/2022 9:08:11 AM
Post# of 22465
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Posted By: drugmanrx
Re: rodman #21556
I believe that was explained in the August 2020 proxy

"I wonder how we are being funded in order to have hired Podesta not to mention 30+ employees! Give us a pr Quantum. Throw us something?
[/quote]
Quote:
Under the Distribution Agreement, Pasaca guaranteed
that the Company would receive cumulative gross royalties and/or gross sales, licensing or other revenues under the Distribution
Agreement of no less than $15,000,000, over the period including 2020 and continuing until twelve months after the Company has
completed development of a functioning product integrating the QMC HealthID IP and Innova Medical Group’s products. Pasaca
has the right to extend the revenue period by up to twenty-four months upon payment of advance royalties. At the date of this report,
we have drawn $7,250,000 in advance draws, and these accrued interest at 8% until the date of conversion.
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