Good Morning to all the hard-core longlists, shortists converted to longlists, traders & newly vested members and all stakeholders &ndash Continue with your strong supports as the visibility of the new dawn is crystal clear.
 
CATALYST
 
A)                    PROPOSED ACQUISITION OF 60% OF THE HEALTHCARE GROUP
 
The acquisition of the Healthcare Group which is involved in the provision of
 
  (i) dental services,
 
(ii) general medical services, and
 
(iii) operations management and consultancy services to certain Government entities (&ldquo Healthcare Business&rdquo ) and was established more than 35 years ago.
 
The unaudited pro forma combined net asset value and net tangible assets of 60% of the Healthcare Group as at 31 December 2020 is approximately S$2.1 million and the 60% unaudited pro forma combined net profits before tax for the financial year ended 31 December 2020 is approximately S$0.6 million.
 
This Healthcare Group is a medical devices company specialising in the minimally invasive treatment of vascular diseases.  This will help to diversify QT current core business which QT will leverage on their muscles and huge network connections of their 35 years of establishment to discuss with various third parties: -
 
i.                          To explore a collaboration through joint ventures with potential business partners
 
ii.                        To leverage on the expertise and resources of the business partner(s) for such joint venture company to assist it in undertaking the Healthcare Business more effectively and efficiently.
 
iii.                      To tap on the extended business network of the Investors to facilitate further strategic partnerships and commercial opportunities to support and strengthen the Company&rsquo s investments and ventures in the Healthcare Business.
 
In addition to the Proposed JV, the Investors had separately expressed interest in investing in the Company (QT) in support of the potential business growth pursuant to the diversification into the Healthcare Business.
 
The funding for the acquisition will be FUNDED ENTIRELY BY FUNDS RAISED FROM THE PROPOSED SUBSCRIPTION.
 
B)                      PROPOSED SUBSCRIPTION OF 4,055,555,556 NEW ORDINARY SHARES IN THE CAPITAL OF NEWCO AT AN ISSUE PRICE OF S$0.0018 PER SHARE
 
i.                          The Issue Price was arrived at following arm&rsquo s length negotiations between the Company and the Investors after taking into consideration the Company&rsquo s net tangible liabilities of US$710,000 as at 31 December 2020 and that the Proposed Subscription will also provide the Company with the financial resources to expand into Healthcare Business and strengthen its working capital position.
 
ii.                        The Proposed Subscription will help align the interests of the Investors with that of the Company (QT).
 
iii.                      The Proposed Subscription is beneficial to the Group as it will allow the Group to strengthen its financial position with injection of $6.8 m from the Investors to improve the (QT) Group&rsquo s cash flow and increase working capital available to the Group.
 
 

Congrats to all the hard-core longlists & traders and finally we are seeing light at the end of the tunnel with huge volume of some 111 million of shares traded on 27/5/2021 and close at 0.008.  We are looking forward to more uptrend of its share price.  Cheers. Huat!!!