Quest Pharmatech Inc V.QPT

RE:Interesting

[G1945V]

ARIMA11 wrote:

https://ceo.ca/qpt?032621d78bb4  (Q3 MD&A)

QPT has $80M worth of bonds (Fair Value).
Since OQP Bio is a private company, with limited liquidity, Quest is negotiating to exchange the OQP Bio bonds for bonds or shares of Canaria Bio M, a Korean KOTC traded company.

 

Yet

The Company’s ability to continue as a going concern is uncertain and is dependent upon its ability to raise additional capital to successfully complete its research and development programs, commercialize its technologies and conduct clinical trials and receive regulatory approvals for its products, and upon the ability and timing for OncoQuest to monetize the consideration received in the transaction with OQP Korea and distribute any net proceeds to shareholders, including to Quest

 

OncoQuest’s ability to monetize the consideration received in the transaction with OQP Korea will be dependent upon OQP Korea’s ability to fund the repayment of any bonds that become due or that could be redeemed and a liquid trading market being available for any shares of OQP Korea that are received as consideration or issued upon conversion of the bonds held.

Make sense? Is there too much "good faith" in this arrangement? There nothing on a deadline of sorts from QPT or Oncoquest about getting the funds. Shouldn't this be outlined by QPT?

This is important for QPT shareholders to know. Its fine if QPT wants to go all the way (Complete Phase III). Right now, from a shareholder perspective there is nothing outline intent or timing.

Almost a year ago now...
https://questpharmatech.com/wp-content/uploads/2021/03/NR26032021.pdf

“Although I am disappointed with the delays in getting the OQP shares and monetizing the consideration received in this transaction, I am pleased to note that our clinical program remains on track and continues to add shareholder value”, commented Dr. Madiyalakan, CEO of Quest and OncoQuest and Chairman of OQP. “We will work with OQP management to resolve these issues as quickly as possible”.

Again, its unclear what the intent is, On one hand going long will be benefical for QPT if phase III is successful. Yet the CEO statement refers to "as quickly as possible"... There's a dissonance there.

Again, what's the intent from QPT?

ARIMAII, where are you getting this information from?


G1945V