Quote:
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.

The investment supports expansion of the QMC HealthID™ solution, further exploration of applications for quantum dot technology in healthcare, and the development of next generation quantum dot enhanced COVID-19 rapid test kits, in parallel (not conjunction with) with Innova Medical Group Inc., a Pasaca Capital Inc. portfolio company. These efforts are being led by Todd K. Malan, M.D. the company’s Senior Vice President of Clinical Research at QMC HealthID Incorporated.

which based on

Quote:
QMC Health Inc. Obtains Exclusive Rights to Novel Long COVID Biomarkers in Development of High Sensitivity Long COVID Rapid Test

and

Quote:
Semiconductor manufacturer Quantum Materials Corp. hired Podesta.com to lobby on issues related to federal pharmaceutical evaluation processes and contracting issues.

the contract appears to be moving forward.nicely.

And mostly likely where the money to fund the project s is coming from.