QSAM Biosciences, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

Subsequent Events	6 Months Ended
Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	NOTE 11 - SUBSEQUENT EVENTS In August 2020, QSAM issued a convertible promissory note to an institutional investor in the amount of $110,000, which matures 12 months after the date of the four funding tranches provided by the investor – between June and August 2021. Two of these tranches totaling $60,000 were received in June 2020 (see Note 6). The note bears 8% interest payable at maturity, and its principal and interest are convertible into equity of Company prior to maturity. The note is guaranteed by the Company. The proceeds from this note were used to fulfill commitments under the QSAM License Agreement, as well as other development efforts for the Technology.

Subsequent Events

6 Months Ended

Jun. 30, 2020

NOTE 11 - SUBSEQUENT EVENTS

In August 2020, QSAM issued a convertible promissory note to an institutional investor in the amount of $110,000, which matures 12 months after the date of the four funding tranches provided by the investor – between June and August 2021. Two of these tranches totaling $60,000 were received in June 2020 (see Note 6). The note bears 8% interest payable at maturity, and its principal and interest are convertible into equity of Company prior to maturity. The note is guaranteed by the Company. The proceeds from this note were used to fulfill commitments under the QSAM License Agreement, as well as other development efforts for the Technology.