MMMM Quad M Solutions Inc (CE)

Item 8.01 Other Events.

On August 19, 2019, Quad M Solutions, Inc. (the “Company” or “Registrant”), filed with the SEC its Quarterly Report on Form 10-Q for the period ended June 30, 2019 (the “6/30/19 Form 10-Q”). The Company disclosed in Note 7 – Convertible Debt of the Notes to Condensed Consolidated Financial Statements to its 6/30/19 Form 10-Q that “on or about November 27, 2018, the Company issued a convertible promissory note to Power Up Lending Group Ltd. (“Power Up”) for the principal sum of $63,000.00, together with interest at 12% per annum (the “$63,000 Note”), with a maturity date of November 27, 2019.” The Company further disclosed that on June 4, 2019, KinerjaPay Corp., an unrelated third-party, acquired the $63,000 Note from PowerUp, with the consent of the Company pursuant to an Assignment Agreement dated June 3, 2019, a copy of which is filed as Exhibit 99.4 hereto. As a result of the Assignment Agreement, Power Up no longer has any direct or indirect interest in the $63,000 Note.

On May 20, 2019, the Company filed with the SEC its Quarterly Report on Form 10-Q for the period ended March 31, 2019 (the “3/31/19 Form 10-Q”). The Company disclosed in Note 5 - Convertible Debt of the Notes to Condensed Consolidated Financial Statements to its 3/31/19 Form 10-Q that “on or about February 22, 2019, the Company issued a second convertible promissory note to Power Up for the principal sum of $43,000, together with interest at the rate of 12% per annum (the $43,000 Note”), with a maturity date of February 22, 2020.” On August 14, 2019, the Company prepaid the $43,000 Note. On September 12, 2019, the Company received a confirmation letter from counsel to Power Up stating that “Since the Note has been fully satisfied, we are returning to you the original Note marked “PAID.” A copy the September 12, 2019 letter and the $43,000 Note marked “PAID” are attached as Exhibits 99.5.1 and 99.5.2.

The Company disclosed in its 3/31/19 Form 10-Q under Note 9 - Subsequent Events, that “on or about May 6, 2019, the Company issued a third convertible promissory note to Power Up Lending Group for the principal sum of $43,000.00.” In fact, this note was never funded by Power Up and, as a result, this “third convertible promissory note to Power Up” never was legally issued or a valid obligation of the Company. Furthermore, there is no reference to the May 6, 2019 Power Up Note in the Company’s 6/30/19 Form 10-Q and, as a result, Power Up has no rights, title or interest in this Note that was never funded.