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Bullboard - Stock Discussion Forum Quantum BioPharma Ltd C.QNTM

Alternate Symbol(s):  QNTM

Quantum BioPharma Ltd. is a Canada-based biopharmaceutical company. The Company is engaged in building a portfolio of assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc. (Lucid), it is focused on... see more

CSE:QNTM - Post Discussion

Quantum BioPharma Ltd > Dilution of Shareholder Interests Through Unnecessary Share
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Post by wendhie05 on Apr 09, 2021 3:36am

Dilution of Shareholder Interests Through Unnecessary Share

Since the date of the Requisition on January 4, 2021, the Company has issued a staggering number of Class B Shares – a number equal to over 83% of the Class B Shares outstanding on that date. It has done this at a time when the Share price has been close to its all-time lows and despite no apparent or budgeted need for additional cash reserves. This action has diluted Shareholder interests and further depressed Share prices.
Comment by wendhie05 on Apr 09, 2021 3:40am
In July 2020, the Company established a program for an at-the-market offering of its Class B Shares (the “2020 ATM Offering”) that allowed the Company to sell up to US$20,000,000 Class B Shares on the Nasdaq Capital 11 Market (the “Nasdaq”). Prior to February 1, 2021, FSD had taken virtually no action under the 2020 ATM Offering. However, since the Requisition on January 4, 2021, the Company has ...more  
Comment by wendhie05 on Apr 09, 2021 3:41am
According to the Company’s prospectus supplement dated February 11, 2021, the Class B Shares issued between February 1 and 10, 2021 were issued at a weighted average price of US$2.69 per Share. This can be compared to the average price of US$3.83 at which the Class B Shares were trading in the eight trading-day period following the launch of the 2020 ATM Offering. The Company made no use of the ...more  
Comment by wendhie05 on Apr 09, 2021 3:43am
On February 10, 2021, Dr. Bokhari called a Board meeting on a mere three hours’ notice to review and approve another at-the-market offering that would enable the Company to continue aggressively issuing and selling shares into the market. Messrs. Durkacz and Saeed objected in writing to this hastily called meeting but, nonetheless, the Board met without Messrs. Durkacz and Saeed and adopted a new ...more  
Comment by wendhie05 on Apr 09, 2021 3:50am
As at March 16, 2021, the Company had issued a total of 15,953,378 Class B Shares in just seven weeks – over 83% of the total Class B Shares outstanding on January 4, 2021. These recent Share issuances depart from any semblance of normal and appropriate governance process. The Board’s actions are harming all Shareholders by diluting the voting interest of all pre-existing Shareholders and, in turn ...more  
Comment by wendhie05 on Apr 09, 2021 3:51am
These dilutive Share issuances are coming at a time when the trading price of the Class B Shares is at a low point and are entirely unnecessary to fund near-term expenses. Dr. Bokhari and the Board (other than Mr. Durkacz and Mr. Saeed) appear to be doing little to manage the Company’s capital-raising process to ensure the maximum benefit from the Company’s issuance of Class B Shares – a fact ...more  
Comment by mhaimillionaire on Apr 09, 2021 11:16am
Certain statement contained herein are "forward-looking statements". Often, but not always, forward-looking statement can be identified by the use of words such as "plans", "expects", "expected", "scheduled", "estimates", "intends", "anticipates" or "believes", or variations of such words and phrases, or ...more  
Comment by Mil_Man54 on Apr 09, 2021 11:18am
Is there anything of relevance you care to post instead of recycling the same old PR BS
Comment by mhaimillionaire on Apr 09, 2021 11:20am
he's been here for a while all he can say is pumper this pumper that
Comment by Mil_Man54 on Apr 09, 2021 11:23am
Well when you walk like a duck and quack like a duck....you get called out as a duck.....or pumper in your case.....do you still want to deny you have a relationship with AD and/or First Republic......
Comment by Mil_Man54 on Apr 09, 2021 11:21am
Why don't you explain that AD and the Concerned Shareholders are about to step up to the FSD piggy bank to finance another high risk scheme