I was requested to post my wild theory here" T
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Posted On: 08/26/2021 12:32:02 PM
I was requested to post my wild theory here"
The question has been asked many many times, why did Squires purposely allowed QMC to go dark and jeopardize its deal with Pasaca Capital.
The deal required QMC to up list to a higher exchange as well as Squires losing absolute control of his company.
We all know that the deal required up listing would have required a QMC reverse split, and Pasaca Capital people taking over the QMC's BODs.
And as it has been pointed our Squires is a very large shareholder and CEO who would be dramatically affected if the deal was seen to it's completion.
With the future facing Squires of a possible QMC bankruptcy with out Pasaca, or losing a large percentage of his ownership in QMC and control of QMC with Pasaca what was he going to do?
He has one Hail Mary left to play, the K&L lawsuit.
If he could hold off long enough for QMC to reach a settlement for a fraction of the 200 million they were suing for, it would be enough to avoid bankruptcy and not need Pasaca to take over his company.
But he needed time.
He needed a way to hold off Pasaca from taking over control without them knowing he was purposely holding them off.
He couldn't afford to lose them, at least not yet, a K&L settlement was far from a guarantee.
The answer to all his prays was dumped in his lap, the SEC letter of December 2020.
Here was a way of to delay Pasaca buy out without them realizing they were being delayed,
QMC could not up list if it wasn't trading, but he still had to sell it to Pasaca, that he was making every effort to fulfill QMC side of the agreement even though he wasn't.
So he made a plan with the SEC to be fully compliant by Feb 2021, knowing that there was no way he would follow though.
To throw suspicion off of himself for missing the plan deadline he passed blame on to the auditors.
He than released a few owed filings to give the appearance that he was doing all that he could to remain listed, knowing full well it will not be enough to satisfy the SEC.
The company was then suspended and he was offered a time frame to chat with the SEC to avoid QMC from being revoked.
But not being revoked did not fit his agenda for more time, so he elected not to challenge the SEC decision and VOLUNTEERED OUR COMPANY TO BE DELISTED as he waits for a K&L settlement to save him.
Possible?
The question has been asked many many times, why did Squires purposely allowed QMC to go dark and jeopardize its deal with Pasaca Capital.
The deal required QMC to up list to a higher exchange as well as Squires losing absolute control of his company.
We all know that the deal required up listing would have required a QMC reverse split, and Pasaca Capital people taking over the QMC's BODs.
And as it has been pointed our Squires is a very large shareholder and CEO who would be dramatically affected if the deal was seen to it's completion.
With the future facing Squires of a possible QMC bankruptcy with out Pasaca, or losing a large percentage of his ownership in QMC and control of QMC with Pasaca what was he going to do?
He has one Hail Mary left to play, the K&L lawsuit.
If he could hold off long enough for QMC to reach a settlement for a fraction of the 200 million they were suing for, it would be enough to avoid bankruptcy and not need Pasaca to take over his company.
But he needed time.
He needed a way to hold off Pasaca from taking over control without them knowing he was purposely holding them off.
He couldn't afford to lose them, at least not yet, a K&L settlement was far from a guarantee.
The answer to all his prays was dumped in his lap, the SEC letter of December 2020.
Here was a way of to delay Pasaca buy out without them realizing they were being delayed,
QMC could not up list if it wasn't trading, but he still had to sell it to Pasaca, that he was making every effort to fulfill QMC side of the agreement even though he wasn't.
So he made a plan with the SEC to be fully compliant by Feb 2021, knowing that there was no way he would follow though.
To throw suspicion off of himself for missing the plan deadline he passed blame on to the auditors.
He than released a few owed filings to give the appearance that he was doing all that he could to remain listed, knowing full well it will not be enough to satisfy the SEC.
The company was then suspended and he was offered a time frame to chat with the SEC to avoid QMC from being revoked.
But not being revoked did not fit his agenda for more time, so he elected not to challenge the SEC decision and VOLUNTEERED OUR COMPANY TO BE DELISTED as he waits for a K&L settlement to save him.
Possible?
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