secwatch.observer — SEC 8-K summary
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Issuer:     QUEST PATENT RESEARCH CORP (QPRC)
CIK:        0000824416
Form:       8-K
Filed at:   2025-04-23T23:59:59+00:00
Accession:  0001213900-25-034342
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Quest Patent Research enters up to $19.5M financing with QPRC Finance for patent acquisition and enforcement
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- Total financing up to $19.5M: $3M for operating expenses, $9M for patent purchase, $7.5M for enforcement costs.
- On April 18, 2025, MR used $9M from the facility to purchase over 2,500 patents from Monterey (data storage security and semiconductor).
- Company requested $750,000 in operating capital from the facility; as of filing date, capital not yet provided.
- Net proceeds from patent monetization are distributed to QPRC Finance under a waterfall agreement; non-recourse except on event of default.
- Intelligent Partners executed a subordination agreement and notified the company it intends to exercise board observation rights.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/824416/000121390025034342/0001213900-25-034342-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/824416/000121390025034342/ea0239160-8k_quest.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-034342

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer