San Marcos, TX, Nov. 24, 2021 (GLOBE NEWSWIRE) -- Quantum Materials Corp (QMC) announces recent business developments.
Quantum Materials Corp, a Nevada corporation initiated a consent solicitation statement (the “Consent Solicitation Statement”) in order to obtain from the Company’s stockholders written consents approving and authorizing an amendment (the “Articles of Amendment”) to the Company’s Articles of Incorporation to increase the number of authorized shares of common stock, par value $0.001 per share from 750,000,000 to 2,000,000,000. August 2, 2021 was established as the record date for determining stockholders entitled to submit written consents. Stockholders constituting the holders of a majority of voting power of the Company’s outstanding Common Stock as of the close of business on the record date were determined to be eligible to consent in order for the proxy action to be approved by stockholders The date of the Consent Solicitation Statement was August 30, 2021.
To be counted, a properly completed and executed Action by Written Consent form was to be received by the Company or its agents on or before 5:00 p.m. Day Light Savings Time on October 30, 2021 (the “Expiration Date”), subject to early termination or extension of the Expiration Date at the Company’s discretion. At the expiration date, the Company’s agents had received 378,723,614 total votes of which 367,461,168 or 52.2% of the eligible shareholders vote to affirm the increase in Authorized Common Shares. The Company amended the Articles of Incorporation as approved by the shareholders.
The Company currently intends to apply to once again become a reporting issuer with the SEC and to re-commence its filings with the SEC at the earliest practicable date. In that regard, the Company is diligently working with its auditors and securities counsel to compile, disseminate and review the financial and other current information required to be presented in its public filings, and to prepare and file a registration statement to once again become a reporting issuer. Thereafter, and subject to satisfaction of all regulatory approvals, it will seek to once again have its shares of common stock traded on the OTC Market.
On November 16, 2021, the Company was notified by its audit firm, RBSM, LLP, that the firm had completed the fiscal year 2020 financial audit. The current year 2021 audit for The Company is in progress. RBSM recently opened an office in Austin, Texas which is expected to help accelerate the completion of this audit.
The Company looks forward to the completion of its registration statement with the SEC and resume trading of The Company’s common stock.
About Quantum Materials Corp
At Quantum Materials our scientists and engineers believe in the power of innovation to make life better and solve critical problems facing our world. Our team comprises experts in the areas of quantum materials, nanotechnology, biochemical and chemical assays, and anti-counterfeiting. Bringing breakthrough ideas to life and forging new solutions inspires our work. For more information, visit Quantum Materials Corp at www.quantummaterialscorp.com
Quantum Materials Corp, Forward-Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans” and similar expressions. Although Quantum Materials Corp management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Quantum Materials Corp, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include among other things, the uncertainties inherent in research and development, future clinical data and analysis, including post marketing, decisions by regulatory authorities, such as the FDA or the EMA, regarding whether and when to approve any drug, device or biological application that may be filed for any such product candidates as well as their decisions regarding labelling and other matters that could affect the availability or commercial potential of such product candidates, the fact that product candidates if approved may not be commercially successful, the future approval and commercial success of therapeutic alternatives, Quantum Materials Corp’s ability to benefit from external growth opportunities, to complete related transactions and/or obtain regulatory clearances, risks associated with intellectual property and any related pending or future litigation and the ultimate outcome of such litigation, trends in exchange rates and prevailing interest rates, volatile economic and market conditions, cost containment initiatives and subsequent changes thereto, and the impact that COVID-19 will have on us, our customers, suppliers, vendors, and other business partners, and the financial condition of any one of them, as well as on our employees and on the global economy as a whole. Any material effect of COVID-19 on any of the foregoing could also adversely impact us. This situation is changing rapidly, and additional impacts may arise of which we are not currently aware and may exacerbate other previously identified risks. Other than as required by applicable law, Quantum Materials Corp does not undertake any obligation to update or revise any forward-looking information or statements.
Media Contact:
Amber Lane
amber.lane@quantummaterialscorp.com
