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Bullboard - Stock Discussion Forum Quest Pharmatech Inc V.QPT

Alternate Symbol(s):  QPTFF

Quest PharmaTech Inc. is a Canada-based biopharmaceutical company. The Company is developing products to improve the quality of life. The Company is also developing a proprietary MAb AR 9.6 targeting truncated MUC16 as theranostic agents for cancer. The Company has a 42.5% ownership interest in OncoQuest Inc. (OncoQuest), a Canadian biotechnology company developing combinatorial immunotherapy... see more

TSXV:QPT - Post Discussion

Quest Pharmatech Inc > Borrowed $1 million of working capital
View:
Post by G1945V on Apr 19, 2022 9:42am

Borrowed $1 million of working capital

I just don't know what to make of this:
"TSX Venture: QPT

EDMONTON, AB, April 19, 2022 /CNW/ - Quest PharmaTech Inc. (TSXV: QPT) ("Quest" or the "Company") announces that it has borrowed $1 million of working capital funding from one of its investee companies, OncoQuest Inc.

The funding, in the form of 2% interest bearing working capital loans provided by OncoQuest, will be used to support the Company's drug development programs. The Company plans to repay the loans once the Company's investments in its investee companies are monetized.

On a corporate matter, Quest announces the granting of 300,000 stock options to an Officer, at an exercise price of $0.10 per common share, expiring 10 years from the date of grant, subject to TSX Venture Exchange approval, and the exercise of 690,000 stock options by Officers and a consultant all at an exercise price of $0.10 per common share for gross proceeds to the Company of $69,000."


G1945V

Comment by PosNeg1 on Apr 19, 2022 2:20pm
QPT needs cash to keep lights on and pay salaries I guess.
Comment by TrickyGame on Apr 19, 2022 10:14pm
At least the interest rate is reasonably low 
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