Absolutely, that the only 'proof' that money was actually received, is that it was spent to 3rd party suppliers. A year ago some hotcopper wannabe day trader spruiked this funding deal as some achievement other companies should aspire to. I spent 15 min on due diligence on QM, trying to answer a few questions like: why this particular funding structure, why this amount, can QM cough it up, what's in it for them etc. I've then come to suspect QM is the 'legitimacy front' of a typical MLM type scheme in a country/continent of many of these similar schemes. In fact nothing about this deal make any commercial sense. It is as if I leased some land, and then without a building permit, received $300 mil to build a skyscraper on that land, on the promise that I will sell back some of the built apartments cheap back to the funder, when I don't yet have building permit, civils, or even a plan to spend that $300m, but the funder says hey take $30 mil/month anyway, as if there's no opportunity cost for that money sitting in some account doing nothing and no risk assessment. Seriously even doubt there's even 15m in this, will become a he says, she says situation in a foreign jurisdiction.
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