QLTS remember why we are all here loading, I believe updates will becoming EOM and these are truly gifts down here, co. has moved into new head quarters has not issued any fluff PRs: Q Lotus Holdings Inc. Enhances Financing and Advances Operations
Q Lotus Holdings, Inc
MacReport Media
CHICAGO, IL, United States, via ETELIGIS INC., 01/21/2015 - - Q Lotus Holdings Inc. (OTC Pink: QLTS) (PINKSHEETS: QLTS), is pleased to announce that a private group of investors, working in consultation with a major investment banker, has confirmed its intention to fund the Company sixty million dollars ($60,000,000) to be provided incrementally to facilitate execution of the Companys previously approved business plan. While we are very excited about this opportunity there is no assurance that it will pay off until we begin to receive funds. Upon receipt of initial funds the Company will make a public announcement.
The Company continues to make progress in all three of its operating groups.
The QLTS Mining Monetization and Trading Groups mining consultant is making good progress in the evaluation of the silica mining claims and in facilitation of the groups activities, has retained Michael Greenberg, founder of the Plastics Exchange and co-founder of Alaron Trading Company and PetroChem Wire, with considerable resources and experience in connection with commodity funding, marketing and trading, and a substantial network of valuable contacts for such purposes, has been engaged to raise funds and create valuable relationships for the Company in connection with its Silica mining claims and other perspective natural resources.
QLTS Finance Group led by the president of Midwest Business Credit Inc. its wholly owned lending subsidiary which recently acquired all the assets from Midwest Business Credit, LLC for the total amount of $1,792,000 has been actively building a strong backlog of profitable but risk controlled asset backed loans.
The QLTS Real Estate Finance Group has assumed full responsibility for the direction and execution of the Lake Zurich Project recently announced by the Company and it is in the process of properly staffing the project.
The Company:
Q Lotus Holdings, Inc. ("the Company"
is a public reporting company under the Securities Exchange Act of 1934. Its objective is to create shareholder value through well-organized effective execution of its business operations. Item 1.01 Entry Into a Material Definitive Agreement
Securities Purchase Agreement.
On February 23, 2015, Q Lotus Holdings, Inc. entered into a Securities Purchase Agreement with Global Entertainment Properties, LLC (the “Agreement”). The Agreement provides for (i) the purchase on or before March 9, 2015 of 400,000,000 shares of its common stock for $2,500,000 (the “Initial Payment”) and (ii) additional consideration of $57,500,000 to be paid incrementally over the next one year after the Initial Payment is fully satisfied, terms and conditions of which will be negotiated in good faith between the parties as immediately hereafter as the parties may allow. Additionally, Global Entertainment Properties, LLC agrees to utilize its best efforts to make available a $140,000,000 line of credit to finance Q Lotus Holdings, Inc. projects on such terms and for such projects as shall be mutually approved by Q Lotus Holdings, Inc. and Global Entertainment Properties, LLC.
The description of the above referenced transaction does not purport to be complete and is qualified in its entirety by Exhibit 10.60 to this Current Report on Form 8-K.
Item 8.01. Other Items
Q Lotus Holdings, Inc. has moved its headquarters to 520 N. Kingsbury St. #1810, Chicago, IL 60654. Its telephone number remains (312) 379-1800 and its fax remains (312) 379-1801.
Item 9.01. Financial Statements and Exhibits
The Exhibit furnished in this report shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.
Exhibit Description
10.60 Securities Purchase Agreement entered into as of February 23, 2015 by and between Global Entertainment Properties, LLC and Q Lotus Holdings, Inc.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Q LOTUS HOLDINGS, INC.
(Registrant)
Date: March 3, 2015 By: /s/ Gary A. Rosenberg
Name: Gary Rosenberg
Title: Chief Executive Officer
Q Lotus Holdings, Inc
MacReport Media
CHICAGO, IL, United States, via ETELIGIS INC., 01/21/2015 - - Q Lotus Holdings Inc. (OTC Pink: QLTS) (PINKSHEETS: QLTS), is pleased to announce that a private group of investors, working in consultation with a major investment banker, has confirmed its intention to fund the Company sixty million dollars ($60,000,000) to be provided incrementally to facilitate execution of the Companys previously approved business plan. While we are very excited about this opportunity there is no assurance that it will pay off until we begin to receive funds. Upon receipt of initial funds the Company will make a public announcement.
The Company continues to make progress in all three of its operating groups.
The QLTS Mining Monetization and Trading Groups mining consultant is making good progress in the evaluation of the silica mining claims and in facilitation of the groups activities, has retained Michael Greenberg, founder of the Plastics Exchange and co-founder of Alaron Trading Company and PetroChem Wire, with considerable resources and experience in connection with commodity funding, marketing and trading, and a substantial network of valuable contacts for such purposes, has been engaged to raise funds and create valuable relationships for the Company in connection with its Silica mining claims and other perspective natural resources.
QLTS Finance Group led by the president of Midwest Business Credit Inc. its wholly owned lending subsidiary which recently acquired all the assets from Midwest Business Credit, LLC for the total amount of $1,792,000 has been actively building a strong backlog of profitable but risk controlled asset backed loans.
The QLTS Real Estate Finance Group has assumed full responsibility for the direction and execution of the Lake Zurich Project recently announced by the Company and it is in the process of properly staffing the project.
The Company:
Q Lotus Holdings, Inc. ("the Company"
is a public reporting company under the Securities Exchange Act of 1934. Its objective is to create shareholder value through well-organized effective execution of its business operations. Item 1.01 Entry Into a Material Definitive Agreement Securities Purchase Agreement.
On February 23, 2015, Q Lotus Holdings, Inc. entered into a Securities Purchase Agreement with Global Entertainment Properties, LLC (the “Agreement”). The Agreement provides for (i) the purchase on or before March 9, 2015 of 400,000,000 shares of its common stock for $2,500,000 (the “Initial Payment”) and (ii) additional consideration of $57,500,000 to be paid incrementally over the next one year after the Initial Payment is fully satisfied, terms and conditions of which will be negotiated in good faith between the parties as immediately hereafter as the parties may allow. Additionally, Global Entertainment Properties, LLC agrees to utilize its best efforts to make available a $140,000,000 line of credit to finance Q Lotus Holdings, Inc. projects on such terms and for such projects as shall be mutually approved by Q Lotus Holdings, Inc. and Global Entertainment Properties, LLC.
The description of the above referenced transaction does not purport to be complete and is qualified in its entirety by Exhibit 10.60 to this Current Report on Form 8-K.
Item 8.01. Other Items
Q Lotus Holdings, Inc. has moved its headquarters to 520 N. Kingsbury St. #1810, Chicago, IL 60654. Its telephone number remains (312) 379-1800 and its fax remains (312) 379-1801.
Item 9.01. Financial Statements and Exhibits
The Exhibit furnished in this report shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.
Exhibit Description
10.60 Securities Purchase Agreement entered into as of February 23, 2015 by and between Global Entertainment Properties, LLC and Q Lotus Holdings, Inc.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Q LOTUS HOLDINGS, INC.
(Registrant)
Date: March 3, 2015 By: /s/ Gary A. Rosenberg
Name: Gary Rosenberg
Title: Chief Executive Officer
