BOD Update What a week! I finally get a chance to put my feet up in front the fireplace, sip on a cocktail, and deliver on my promise to post an update here. So here it goes....
My call lasted approximately 20 minutes with Mr. Rousseau. I asked for a bit of a corporate update and derived my questions from the conversation. Here are some of the key points I took from our chat:
1) They have a plan! Mr. Rousseau (who has a military background) told me the plan is tactics first, strategy second and then attack third. Right now he described to me that they are in the "tactics" phase. The short term goal is all focused towards the technology side of the business. The monies that were raised from the PP are being funnelled towards development, adaptation and improvement of the tech. In my questioning, he said work is progressing "within Covid protocols and guidelines" as set out by the province of Quebec
2) I asked about promotion and I.R.... He told me that they could hire an I.R. Firm, but they are expensive and not part of plan right now. Once again he said that the bulk of their cash resources will be allocated towards technological advancements. And I was told that there will only be news releases for milestone achievements and technological breakthroughs of significance.
3) I asked about a potential date for an AGM, and what is happening for plans of a new CFO. I was told that the bookwork is currently being handled in house for the moment. They are currently working towards getting office space and having a physical address again. The year end audited financials will be completed by MNP, and will likely be released prior to the deadline date of April 30. Once Year End Financials are released, the next step will be to have the AGM (likely virtually), in the first few weeks of May prior to Mr. Bellido's online presentation at Inside Quantum Technology (IQT). And he told me proxies will be sent to all the shareholders as usual, for standard AGM voting.
4) The most significant point I took out of the conversation is that BOD is very happy with their new CEO choice. They are confident with the direction, and confident with the "tactical" steps Mr. Bellido is making to lay a strong base for the company. He told me that Mr. Bellido is working very hard to build a successful company and increase shareholder value. There was no doubt in my mind, that this is "their guy". And he mentioned "we are a penny stock" which equals volatility and that the new CEO has not even hit his 2 month anniversary yet at his job.
In conclusion.... And here is how I would summarize this plan in my mind.
Tactics (Technology) --> Strategy (Implemenation/Adaption/Product) --> Attack (Sales/Revenue)
Now they just have to execute!!! They have almost $2 million in the bank from the PP, and have had some warrants exercised already.
Here is the SEDI report I viewed from the link on ceo.ca website
https://ceo.ca/api/sedi?insider=&symbol=QNC&date=&transaction=&amount=&undefined[company_symbol]=QNC
Both Marc Rousseau & Pierre Paul Samson have exercised 100,000 warrants and all directors have added some extra cash outside of the PP Offering
Next... here is who is on the technology team right now:
Bertrand Reulet - Inventor
https://www.marketscreener.com/business-leaders/Bertrand-Reulet-0GP640-E/biography/
Ghyslain Gagnon - ETS
https://www.researchgate.net/profile/Ghyslain-Gagnon
https://en.wikipedia.org/wiki/%C3%89cole_de_technologie_sup%C3%A9rieure#Student_technical_clubs
Edward "Larry" Moore - Director
https://stockhouse.com/news/press-releases/2021/01/27/quantum-numbers-corp-appoints-cyber-security-and-integrated-circuit-expert-to
The final comment I would like to make is that they are receiving a lot of email and phone calls from shareholders. He told me they are trying their best to answer questions but are primarily allocating their time towards the "serious investors" and not the "penny flippers".
All I can say here folks, is be patient. I strongly beleive that longs will ultimately be rewarded here some day. And I say this, because I beleive in the tech.
Well, it's getting late! Off to the hayloft for me.....
I sleep well.
FI4