Pasaca investing in QTMM has started with Did
Post# of 22465
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Posted On: 02/25/2021 9:21:39 AM
Pasaca investing in QTMM has started with
Phase 1
Their planned phase 2
With a phase 3
Quote:
Did Pacasa already invest with QTMM or not yet?
Phase 1
Quote:
Pasaca will convert three previously issued promissory notes made by the Company payable to Pasaca and loan to the Company an additional $1,500,000 pursuant to a certain Secured Convertible Promissory Note (the “Convertible Note”) made by the Company payable to Pasaca in the principal amount of $4,500,000 (the “Senior Note”).
Their planned phase 2
Quote:
SAN MARCOS, Texas—(BUSINESS WIRE) – Leading American nanomaterial and quantum dot producer and technology company, Quantum Materials Corp (OTCQB: QTMM) today announced an equity investment from California-based private equity firm, Pasaca Capital, Inc. of $15 million and under terms of the distribution agreement formed between the two companies, Quantum Materials Corp would receive cumulative gross royalties and/or gross sales, licensing or other revenues 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 intellectual property and Innova Medical Group’s products.
With a phase 3
Quote:
The Senior Note is convertible into 154,228,625 shares of the Company’s common stock (the “Note Shares”). At the second closing, Pasaca will purchase common stock of the Company (“Common Stock”) in an amount such that, after such purchase and the conversion of the Senior Note into the Note Shares, Pasaca will own fifty-one percent (51.0%) of the fully diluted common stock of the Company.
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