Kim was among the female emcees feted at Monday's (11Jul16) New York ceremony, where Quan joined the Lighters Up star onstage to perform the late Biggie's verse on their Junior M.A.F.I.A. collaboration, Get Money.
However, Quan hit headlines for all the wrong reasons after flubbing a line in the track and then struggling to get back on beat during the live set.
The incident turned the 26-year-old into a laughing stock on social media, prompting the rapper to take to Instagram.com to issue a heartfelt apology to Biggie fans for the embarrassing mistake.
He wrote, "I assure you that I never intended to disrespect Biggie Smalls. I have long respected his work and his contribution to the rap game. I greatly apologize not only to Biggie Smalls, but also to all of my fans and to New York. The city of New York has been nothing but good to me."
Quan went on to admit he had struggled with "some technical difficulties" onstage, and the issues, combined with an attack of nerves, led to the lyrics mix-up.
He concluded the note by adding, "I will forever be sorry to New York, my fans, Biggie Small, Lil Kim, and all the Hip Hop community for my performance. I hope you can accept my apology. To Lil Kim, Thank you for the opportunity."
Kim has since reposted the lengthy message on her own Instagram page, insisting she has nothing but love for the young star.
"Spoken like a true giant," she declared. "I loved you before and I'm gonna love you after Rich Homie. People make mistakes and things happen sometimes that we can't fix or undo. If you guys only knew the technical difficulties that went on behind the scenes. I would like to thank my friend @richhomiequan for coming through for me at the last minute. It's all love".