"Per the 10K, once their senior note is converted
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Posted On: 03/29/2021 3:29:41 PM
"Per the 10K, once their senior note is converted to shares, Pasaca will then buy shares on the open market to obtain 51% control."
No. Once Pasaca converts the $4.5 million Senior Notes into Common Shares, Pasaca will then buy directly from QMC the additional Common Shares needed to give them 51% of the fully diluted common shares for $10.5 million. Pasaca will not buy the shares of common stock on the open market, QMC will be issuing new shares of Common Stock to Pasaca for the notes conversion and the purchase.
No. Once Pasaca converts the $4.5 million Senior Notes into Common Shares, Pasaca will then buy directly from QMC the additional Common Shares needed to give them 51% of the fully diluted common shares for $10.5 million. Pasaca will not buy the shares of common stock on the open market, QMC will be issuing new shares of Common Stock to Pasaca for the notes conversion and the purchase.
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