#United States #Financial Data #Locust Valley #Quantum X #TraderMade

Quantum X Inc.'s Bold Move in the Financial Sector

Quantum X Inc. (OTC: QUTX) has recently announced an exciting phase in its growth strategy through a binding letter of intent (LOI) to acquire 80% of TraderMade Systems Ltd., a prominent UK-based provider of financial market data. This strategic acquisition aims to bolster Quantum X's capabilities in integrating proprietary historical financial data feeds into its burgeoning artificial intelligence and quantitative technology ecosystems.

TraderMade Systems' Significance

Established for over three decades, TraderMade is renowned for delivering real-time and historical foreign exchange data, APIs, and advanced technology solutions to various stakeholders in the financial sector, including banks, fintech companies, and quantitative research teams. The growing demand for high-quality institutional datasets is pivotal for effectively training and executing complex AI models and quantitative computing systems. Thus, TraderMade represents a crucial asset in Quantum X’s pursuit of enhanced technological offerings.

Details of the Acquisition

Under the LOI stipulations, Quantum X will obtain an 80% stake in TraderMade from Currency Mountain Holdings, LLC (CMH). This transaction designates Quantum X as the majority shareholder, allowing for strategic leverage in decision-making.

The transaction involves both equity and debt acquisition components. Quantum X will procure 80% of TraderMade's issued share capital and will also acquire CMH’s receivable of approximately £412,162.47 (around US$544,000). In total, the acquisition cost is pegged at US$550,000, with payment made exclusively through the issuance of 550 million shares of Quantum X common stock at a price of US$0.001 per share. These shares are subject to a six-month lock-up period post-transaction completion, stabilizing their value amidst market fluctuations.

To ensure the legitimacy and fairness of this acquisition, an independent valuation will validate that the combined value of the shares and receivable meets or exceeds the expected US$550,000 price tag. Following the finalization of the acquisition, Quantum X plans to commission PCAOB-audited financial statements for TraderMade over at least its last two fiscal years.

Looking Ahead: Next Steps

Quantum X and TraderMade must now proceed with goodwill negotiations towards a definitive share purchase and assignment agreement. Given TraderMade's operational base in the UK, both parties anticipate a thorough due diligence period, potentially lasting up to 90 days. This phase will encompass financial, legal, tax, technical, and commercial evaluations, including compliance with the necessary ownership-transfer and regulatory requirements.

The transaction is contingent on habitual closing conditions, which include satisfactory completion of all types of due diligence, an independent valuation, retention of key TraderMade personnel, and adequate consents from stakeholders and regulatory bodies. There are inherent uncertainties, and it is crucial to note that not all conditions may be satisfied promptly, potentially affecting the transaction timeline and outcomes.

Affiliated Party Disclosure

The relationship between CMH's ownership by Emil Assentato and this proposed transaction triggers related-party concerns. It will undergo scrutiny as per applicable security laws to ensure transparency and adherence to reporting guidelines. The successful completion of this acquisition also hinges on board approval and other closing requirements.

An Eye on the Future

The push for this acquisition signifies Quantum X’s commitment to evolve its portfolio toward quantum technology and AI applications, while maintaining a keen eye on expanding into complementary tech verticals. Quantum X, formerly known as Two Hands Corporation, operates in the over-the-counter market under the symbol QUTX.

As Quantum X moves forward, the anticipated integration of TraderMade’s comprehensive market data solutions is expected to fortify its market position in the competitive landscape of financial technology, setting a path for innovative advancements and growth in the sector.

Conclusion

The proposed acquisition represents not only an investment in TraderMade Systems but also an investment in Quantum X’s future. By ensuring access to the critical financial data and services that TraderMade specializes in, Quantum X is strategically positioning itself to thrive in an era defined by artificial intelligence and big data analytics. As developments unfold, stakeholders will watch closely to see how this acquisition will shape Quantum X's trajectory in the financial technology landscape.