Medivolve needed an investor relation and funds to expand. Stan Bharti is a shrewd businessman and the biggest investor before this private placement in QuestCap. I don't think Forbes and Manhattan could not raise another $5 million if needed. They won't let QuestCap issue 20 million shares to Cannacord without a good deal.
Canaccord can bring a lot of investors for the revenue, Medivolve is supposed to be generating with 100 to 700 testing sites. I think QuestCap management tried everything they couldn't manage Anonymous. These Anonymous held QSC share price down. The logic we were thinking was they knew, QuestCap is going to need funding at some point. QuestCap management issued all these updates, but the share price never moved. So no way they can raise money at higher prices. That is the reason we kept saying hire an investor relation.
I think management did better. Canaccord can bring investors to the table, and they also paid for those shares. QuestCap raised needed funds to expand quickly. As per private placement price, QSC was trading .25 to .28 cents before Cannacoerd started buying.
I hate, private placements but the fact is they needed to do something. Otherwise, even with 35 testing sites, the QSC share price should have been much higher.