Kansas ruling: Basically it was a split decision w
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Posted On: 05/09/2021 9:09:15 AM
Kansas ruling: Basically it was a split decision where QTMM got the better end of the ruling.
QTMM was a relatively a small loser to L2 CapitalLLC and SBI Investments LLC.
QTMM was found liable for default loans and were ordered to pay compound interest of 8% and 24%, compounded from time they were do. Resulting in a $210,000.00 debt turning into into a $391,000.00 debt.plus some of plaintiff's legal fees.
The principle has already been paid all that remains to be paid is interest and legal fees. (ONLY MONEY DAMAGES)
Keep in mind a billion dollar company Pasaca Capital is taking over 51% control of the company, so paying back a few hundred thousand will not be a burden to the company going forward.
QTMM AND ITS SHAREHOLDERS COME OUT BIG WINNERS: Judge ruled the alternative or so-called liquidated damages provisions and results of cross-pollinated events of default are penalties and not liquidated damages and as excessive penalties are not collectable.
Which means as penalties, L2 will not be receiving the over hundred million diluted shares at 0.0001 they were claiming as liquidated damages owed. Meaning those shares will not be dumped on the open market to be sold, which could have driven down the share price to sub penny.. (NO WORTHLESS DILUTION)
Because of the lawsuit , QTMM 's share structure was in a state of flux. Due to the uncertainty of which direction the ruling would go, QTMM was unable to provide an accurate outstanding share count which resulted in SEC Financials mot being filed and a STOP SIGN placed on the company.
Now that the possibility of owing an unknown amount of shares to L2 is behind QTMM, QTMM once a gain has a fixed share structure.
With a fixed share structure, QMC will be able to catch up on all their past due SEC financials and become OTC current resulting in the STOP SIGN being removed.
Plus with a fixed share structure QTMM can now move forward with calculating how many shares will be needed to close the Pasaca purchases of 51% of the company.
Expecting all SEC Filings caught up by end of month.
QTMM was a relatively a small loser to L2 CapitalLLC and SBI Investments LLC.
QTMM was found liable for default loans and were ordered to pay compound interest of 8% and 24%, compounded from time they were do. Resulting in a $210,000.00 debt turning into into a $391,000.00 debt.plus some of plaintiff's legal fees.
The principle has already been paid all that remains to be paid is interest and legal fees. (ONLY MONEY DAMAGES)
Keep in mind a billion dollar company Pasaca Capital is taking over 51% control of the company, so paying back a few hundred thousand will not be a burden to the company going forward.
QTMM AND ITS SHAREHOLDERS COME OUT BIG WINNERS: Judge ruled the alternative or so-called liquidated damages provisions and results of cross-pollinated events of default are penalties and not liquidated damages and as excessive penalties are not collectable.
Which means as penalties, L2 will not be receiving the over hundred million diluted shares at 0.0001 they were claiming as liquidated damages owed. Meaning those shares will not be dumped on the open market to be sold, which could have driven down the share price to sub penny.. (NO WORTHLESS DILUTION)
Because of the lawsuit , QTMM 's share structure was in a state of flux. Due to the uncertainty of which direction the ruling would go, QTMM was unable to provide an accurate outstanding share count which resulted in SEC Financials mot being filed and a STOP SIGN placed on the company.
Now that the possibility of owing an unknown amount of shares to L2 is behind QTMM, QTMM once a gain has a fixed share structure.
With a fixed share structure, QMC will be able to catch up on all their past due SEC financials and become OTC current resulting in the STOP SIGN being removed.
Plus with a fixed share structure QTMM can now move forward with calculating how many shares will be needed to close the Pasaca purchases of 51% of the company.
Expecting all SEC Filings caught up by end of month.
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