On or about December 23rd 2018 the co-licensee, As
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Posted On: 01/27/2019 9:55:54 PM
On or about December 23rd 2018 the co-licensee, Assam Electronics Development Corporation LTD (an Indian government enterprise), paid the
first investment of $1M USD into the overall project fund. Amtronics (co-licensee) in turn transferred a $500K USD commitment fee to the group
that has secured the $20M investment funding. In terms of direct funding to QMC, on December 29, 2018 we received a letter from the
managing director of the Assam Electronics Development Corporation LTD., confirming that the requisite $1M USD upfront license fee would be
paid to QMC on or before January 31, 2019. Additionally, the licensee is required to place an order for two micro reactors and make an 80%
deposit against same on or before mid-February 2019. We anticipate the company can generate $7M to $10M in gross revenues from these
activities
first investment of $1M USD into the overall project fund. Amtronics (co-licensee) in turn transferred a $500K USD commitment fee to the group
that has secured the $20M investment funding. In terms of direct funding to QMC, on December 29, 2018 we received a letter from the
managing director of the Assam Electronics Development Corporation LTD., confirming that the requisite $1M USD upfront license fee would be
paid to QMC on or before January 31, 2019. Additionally, the licensee is required to place an order for two micro reactors and make an 80%
deposit against same on or before mid-February 2019. We anticipate the company can generate $7M to $10M in gross revenues from these
activities
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