ITEM 3.02 UNREGISTERED SALE OF EQUITY SECURITIES
On January 4, 2022, Quantum Energy, Inc., (the "Company" or the "Registrant")
completed confidential settlements with four former officers and directors of
the Company who operated the Company from about 2014 through August of 2020, and
one former affiliate of the Company. The Company retired the totality of the
common shares and returned the common shares to the treasury of the Company. A
total of 19,382,676 of the Company's outstanding common shares have now been
retired.
Between the months of July and September of 2020 the Company purchased through
its Buyback Program 1,082,113 of it common shares resulting in a total
20,464,789 Common shares taken out of circulation through retirement or being
purchased in the Company buyback program announced last year.
ITEM 5.02 DEPARTURE OF DIRECTOR
On January 03, 2022 the Board of Directors accepted the resignation of Mr.
Jeffrey Mallmes from the Board of Directors and from all other positions with
the Company.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SECTION 8 - OTHER EVENTS ITEM 8.01 OTHER EVENTS
On January 11, 2022, the Company updated is capitalization table to include the
most recent changes to its list of affiliates to include John Suprock and wife
Laura Suprock individually and as joint tenants along with Consortium LLC (the
Suprock Parties) which is controlled by John Suprock controlling a combined
3,400,000 shares of the Company's common stock representing 10.64% of the
Company's common stock.
On December 10, 2021, the Company filed an action against the the Suprock
Parties in the United States District Court of the State of Nevada against the
Suprock Parties (See: 2:21-cv-02184-JAD-BNW Quantum Energy Inc. v. PCS Advisors
LLC et al). The complaint alleges breach of implied covenant of good faith &
fair dealing, unjust enrichment, and breach of contract. The Company is seeking
the return of the shares of its common stock and monetary damages from the
Suprock Parties.
QUANTUM ENERGY, INC.
Date: January 11, 2022
By: /s/William Westbrook
Name: William Westbrook
Title: Authorized Officer
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