QUICK-MED TECHNOLOGIES INC

In July, 2010, we and Viridis BioPharma Pvt. Ltd., an India corporation, ("Viridis") entered into an exclusive Patent and Technology License Agreement (“Viridis Agreement”). Under the Viridis Agreement, we grant rights under our proprietary NIMBUS antimicrobial technology to Viridis to make, use, sell and offer for sale certain wound treatment products  to  the institutional market, pharmaceutical companies, distributors, hospitals, clinics, licensed chemists, pharmacists and medical wings of organizations in the Republic of India and its territories and possessions. Viridis agreed it would only manufacture the products in India, unless otherwise agreed to by us.  In September 2010, Viridis obtained India FDA clearance to manufacture and market their product in India. Viridis has obtained all the appropriate production equipment and has produced and packaged NIMBUS treated gauze dressings that satisfy efficacy requirements.  Viridis began selling the NIMBUS treated gauze dressings in early 2013.

On May 14, 2013 we granted Viridis an expanded license to sell Microfoam™ dressings. Microfoam is the first advanced wound care dressing to utilize our proprietary non-leaching NIMBUS® technology. Viridis will have the right to sell the Microfoam dressings it produces under license from us to territories including the Commonwealth of Independent States (CIS). Countries within the expanded territory include Russia, Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Uzbekistan, as well as Georgia, Turkmenistan and the Ukraine. Distribution into these territories will be handled by Unique Pharmaceutical Labs, a company based in India that has an extensive sales and commercial networks in the territories granted. The regulatory clearance process is already underway for Russia, with others following. This expanded contract has a term of five years. The core contract between Viridis and QMT that permits manufacture and sale in India of foam and gauze NIMBUS products is extended for the same period.

In July, 2010,  we and Viridis BioPharma Pvt. Ltd., an India corporation, ("Viridis") entered into an exclusive Patent and Technology License Agreement as stipulated in the binding term sheet  on March 16, 2010.  Under the agreement, we grant rights under its proprietary NIMBUS antimicrobial technology to Viridis to make, use, sell and offer for sale certain wound treatment products  to  the institutional market, pharmaceutical companies, distributors, hospitals, clinics, licensed chemists, pharmacists and medical wings of organizations in the Republic of India and its territories and possessions.  Viridis agreed it would only manufacture the products in India, unless otherwise agreed to by us.  In September 2010, Viridis obtained India FDA clearance to manufacture and market their product in India. In December 2011, we amended the agreement to include NIMBUS-treated foam wound dressings. In March 2012, we extended the term of the agreement.

On May 14, 2013 we granted Viridis an expanded license to sell Microfoam™ dressings. Microfoam is the first advanced wound care dressing to utilize OUR proprietary non-leaching NIMBUS® technology. Viridis will have the right to sell the Microfoam dressings it produces under license from us to territories including the Commonwealth of Independent States (CIS). Countries within the expanded territory include Russia, Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Uzbekistan, as well as Georgia, Turkmenistan and the Ukraine. Distribution into these territories will be handled by Unique Pharmaceutical Labs, a company based in India, that has an extensive sales and commercial networks in the territories granted. The regulatory clearance process is already underway for Russia, with others following. This expanded contract has a term of five years. The core contract between Viridis and QMT that permits manufacture and sale in India of foam and gauze NIMBUS products is extended for the same period.

^{On May 14, 2013 we granted Viridis an expanded license to sell Microfoam™ dressings.  Microfoam is the first advanced wound care dressing to utilize Quick-Med's proprietary non-leaching NIMBUS®} technology. Viridis will have the right to sell the Microfoam dressings it produces under license from Quick-Med to territories now including the Commonwealth of Independent States (CIS).  Countries within the expanded territory include Russia, Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Uzbekistan, as well as Georgia, Turkmenistan and the Ukraine.  Distribution into these territories will be handled by Unique Pharmaceutical Labs, a company based in India that has an extensive sales and commercial networks in the territories granted.  The regulatory clearance process is already underway for Russia, with others following.  This expanded contract has a term of 5 years.  The core contract between Viridis and QMT that permits manufacture and sale in India of foam and gauze NIMBUS products is extended for the same period.

Mr. Jenssen has been with the Company since January 2013 as its Chief Financial Officer and became a director in February 2013. He has over 35 years of experience in strategic planning, process improvement, finance and accounting. He started his career at Deloitte Touche (1978-1984) before becoming Treasurer at Associated Press (1984-1998). In addition to working as a consultant since 1998, he was the CFO, COO and a Senior Managing Director at Rothschild North America investment bank (1998-2006).  From 2006 until the present, Mr. Jenssen was the President of Jenssen Consulting, a business involved in providing strategic planning, process improvement, finance and accounting related services. Mr. Jenssen does not serve as a director of any other reporting company. Mr. Jenssen is a CPA, has an MBA from Columbia University in New York and has held several securities licenses.