Quantum BioPharma Ltd. (NASDAQ: QNTM) has experienced a notable uptick in its stock performance on the US stock charts today. As per the most recent pre-market data, QNTM shares have risen by 6.08%, reaching a trading value of $4.19. This positive momentum is likely attributed to a debt settlement initiative that commenced last month.
Executive Bonuses and Debt Settlements
The board of directors of Quantum BioPharma recently approved incentives of $450,000 for CEOs Donal Carroll, Zeeshan Saeed, and Anthony Durkacz. The decision they made has been made accordance with the conditions specified in their individual executive agreements.
The executives are eligible for yearly incentives under these agreements, contingent upon meeting predetermined performance targets. Executives are eligible for bonuses equal to 70% of their base income for the second year of work and 80% of their base salary for the third year of employment.
As a result, the incentives for every year of service for each executive are $210,000 and $240,000, respectively. To manage cash flow while adhering to Canadian Securities Exchange (CSE) policies, the Company plans to settle these bonuses through the issuance of Class B Shares, priced at $5.44 per share.
The shares will be subject to a four-month and one-day hold period in compliance with CSE regulations and applicable securities laws. The Company anticipates finalizing this debt settlement process by the first week of September 2024 and will issue a subsequent press release upon completion.
Launch of ‘unbuzzd’
In addition to financial maneuvers, Quantum BioPharma has recently unveiled ‘unbuzzd,’ an innovative product aimed at addressing the aftereffects of alcohol consumption. The Clear Eyed Citrus Powder Sticks, now available on Amazon.com, represent a significant advancement in alcohol recovery solutions.
Developed by a leading pharmaceutical research and development team, unbuzzd is distinguished by its scientific formulation combining a proprietary mix of vitamins, minerals, and herbs.
This dual-action formula is designed to accelerate alcohol metabolism, restore mental clarity, and enhance hydration, offering a comprehensive approach to managing alcohol’s aftermath. As a groundbreaking product in its category, unbuzzd is poised to transform conventional methods of alcohol recovery.