Quest Pharmatech Inc V.QPT

Interesting

[ARIMA11]

https://ceo.ca/@newswire/quest-pharmatech-provides-corporate-update-e1c0d
The assets transfer could be a good "how not to" case for business schools.
Three years plus after the sale not a dime.

[G1945V]

Hoping that the largest shareholder of QPT,  "Shenzhen Hepalink Pharmaceutical Group Co. Ltd " with a 15% ownership will jump in and stir the ship for Madiyalakan because he sucks at deal-making.  (Madi Madiyalakan is CEO of both Quest Pharmatech Inc (QPT) and OncoQuest !!) JMO G1945V

[ARIMA11]

i) Correction: It Iooks like OncoQuest got some... cash: In return, OncoQuest received US$125 million of OQP Korea bonds convertible into OQP Korea shares, US$8.4 million in cash, and an OQP Korea unsecured 1% interest bearing corporate bond for USD$175 million, exchangeable into 65,229,709 shares of OQP Korea with an ascribed notional value of US$175 Million subject to regulatory approval.

[G1945V]

The original deal was for U.S. $ 300 million in a combination of Dual common stock and Dual perpetual convertible bonds. Why has this dwindled down to only $79,979,000 in cash and $66,700,000 in bonds of Canaria Bio M (K-OTC – 118970) (“CABM”)?? Such a convoluted deal. Lost track of it!! G1945V

[G1945V]

"The cash is receivable in 3 tranches (immediately – 21.6 billion KRW ($22,291,000), end of December 2023 – 25.9 billion KRW ($26,728,600) and end of June 2024 – 30.0 billion KRW ($30,959,800))." Are we missing the date of the third tranche in the amount of $30,959,800? G1945V

[G1945V]

OPPS! I missed the first tranche of $22,291,000 was paid out immediately assuming that being May 2023??   So where is our 42.5 % of the $22,291,000 interest in OncoQuest sitting ?? G1945V