It also appears QMC requires an additional $2,750,

Quote:

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C. The Business has historically and does currently operate at a loss. The Company has determined that financing from Investors in an amount of an additional Two Million Seven Hundred Fifty Thousand Dollars ($2,750,000) is necessary presently and will enable the Company, upon the achievement of certain milestones, to complete certain corporate actions necessary to issue equity in the Company in connection with the contemplated financing, as well as achieve significant in-process and future sales and licensing revenue, significantly enhancing the value of the Company.

D. Pasaca has agreed to make such additional funds available by (i) making an additional convertible loan, in the amount of Two Million Seven Hundred Fifty Thousand Dollars ($2,750,000) (the “Additional Loan”), to be consolidated with the Original Loan into a single loan in the principal amount of Seven Million Two Hundred Fifty Thousand Dollars ($7,250,000) (the “Loan”), (ii) amending the SPA to provide that Pasaca agrees to provide to the Company up to Seven Million Seven Hundred Fifty Thousand Dollars ($7,750,000) of additional capital pursuant to the purchase of Seven Million Seven Hundred Fifty Thousand Dollars ($7,750,000) worth of common stock upon the satisfaction of the conditions to such purchase set forth in the SPA and this Agreement, and (iii) amending the Distribution Agreement as provided in this Agreement.

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