Quantum Materials Announces Review of Strategic Opportunities

Quantum Materials Corp announced the Company’s Board of Directors has undertaken a comprehensive review of a number of potential strategic opportunities to enhance shareholder value.  The board has engaged Canaccord Genuity as its financial advisor for such review, and to advise the board with respect to any transactions that may ultimately be pursued as a result of such review.

“Our board is committed to taking the necessary steps to enhance value to our shareholders,” Quantum Materials Corp. CEO Stephen Squires said. “Canaccord knows our industry – and more specifically the quantum dot space – which makes them a great choice to help the Company evaluate and execute viable strategic opportunities.”

The company notes that no decision has been made to pursue any transaction and that there can be no assurance that the review process will result in the completion of any particular course of action or transaction. The company has not set a timetable for completion of the review process, and it does not intend to comment further regarding the review process unless a specific transaction or other alternative is approved by the Board of Directors, the review process is concluded or it is otherwise determined that further disclosure is appropriate or required by law.

Audit and Filing Update
With regard to the company’s filing status, the Company’s CFO and administrative staff continue to work diligently with its auditors to file the 10K and subsequent 10Q’s in order to restore the companies OTCQB listing status in a timely basis. As a direct result of the onerous responses to predatory lender lawsuits, the Company missed the time window the auditors had reserved to complete Quantum Materials Corp’s year-end audit and filing. This resulted in the Company’s filing falling out of sync with the auditors’ set schedule and landing in the auditors’ busiest time of year (Many companies follow a calendar-year audit schedule with Dec. 31 being their yearend). 

Squires concluded that “We’ve had some extraordinary issues this past year.

“In addition to the aforementioned lawsuits we changed audit firms and revamped our board of directors midway through our fiscal year,” he said. “The company and its auditors are making, and will continue to make, every effort possible to complete the filings as quickly as possible. We take our obligation to timely file very seriously and are striving to return the company to full compliance without further delay.”