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Trading to Commence Tomorrow, July 15, 2021, Under the Symbol QUBT
LEESBURG, Va., July 14, 2021 (GLOBE NEWSWIRE) -- Quantum Computing Inc. (the “company” or “QCI”) (OTCQB: QUBT) (Nasdaq: QUBT), a leader in bridging the power of classical and quantum computing, has listed its shares to the Nasdaq Capital Market®. With the opening bell, QCI will become one of the few pure-play quantum software companies to list on the Nasdaq exchange. Its common stock will commence trading at market opening tomorrow, July 15, 2021, under the same symbol, QUBT.
QCI is expanding the use of quantum computing from the exclusive realm of scientific projects to broad adoption by businesses for solving their most advanced and important problems. The company’s flagship product, Qatalyst™, is the first to drive computational results on any quantum or classical computer without complex programming or low-level coding, quantum experts or exorbitantly long and costly development cycles. As ready-to-run quantum software, Qatalyst gives businesses their first real opportunity to affordably solve mission-critical problems today, related to supply chains, logistics, drug discovery, cybersecurity and transportation, with the speed and quality of results previously unattainable. Qatalyst is available via the AWS cloud and Braket, offering seamless access to both quantum and classical resources.
“We believe that quantum computing is the center of massive investment and will be one of the most impactful technologies of our century,” said Robert Liscouski, CEO of QCI. “This has been underscored by major investments from Amazon, Google, IBM, Microsoft, Alibaba as well as President Biden’s recently proposed $15 billion investment in advanced technologies including quantum. We are extremely well positioned to be a major part of this transformation with our software that, for the first time, seamlessly connects the current state of computing to a future in which quantum will be a critical asset in solving the most advanced problems challenging businesses. We are on the road to democratizing quantum computing and its techniques for all businesses who have been searching for additional computational power and accuracy and achieving value beyond pure quantum advantage.”
“We believe that the Nasdaq listing will elevate our profile in the investment community,” added Liscouski. “We also expect it to improve liquidity and transparency, broaden our shareholder base, and significantly enhance shareholder value over the long term.”
Software has always been essential to the adaptation and use of technology in the past whether it is classical computing technology, mobile phones and smart devices, etc. and it will be no different for quantum computing. Quantum computers demand immense effort to transform from classical problems into complex quantum programs. The tools required for this, quantum software development kits (SDKs), are extremely expensive and complicated, requiring quantum experts to write even simple programs, which can take months or years to successfully run. Additionally, each problem submitted to quantum computers must be updated to match the proprietary requirements of different machine hardware, reprogrammed with the same arduous, complex process and redeveloped with similarly lengthy timeframes.
Qatalyst eliminates the need for programming by quantum experts enabling today’s business analysts and programmers, for the first time, to directly submit and solve computational problems using quantum methods in under a week. It allows analysts and programmers to run the same program across any quantum or classical machine with no programming required. Qatalyst also uses the same quantum-ready techniques to solve computational problems on classical computers, accelerating and delivering a diversity of highly accurate results. As a result, QCI is making the value of quantum computing available to a much wider enterprise audience, to solve real business problems right now.
“This is a significant milestone for the company,” stated Robert Fagenson, QCI board member and former NYSE Floor Governor and Vice Chairman. “The listing of our securities onto a major exchange demonstrates that QCI is well positioned in the marketplace to be a major contributor to the quantum industry.”
According to projections from The Quantum Economic Development Consortium (QED-C) and Hyperion Research, the quantum computing market is projected to grow exponentially. Globally, it was worth an estimated $320 million in 2020, and will grow at an anticipated 27% CAGR between 2020 and 2024, reaching approximately $830 million by 2024. Additionally, Gartner predicts that by 2023, 20% of organizations will be budgeting for quantum computing projects and 90% of enterprise investments in this area will engage consulting organizations to help shape problems that can leverage quantum algorithms.
QCI is unique in its capability to access a variety of quantum computers, including D-Wave, IonQ, and Rigetti, through Amazon’s Braket, as well as access to IBM quantum computers via the IBM cloud.
To learn more about QCI and how Qatalyst can deliver results for your business today, go to www.quantumcomputinginc.com.
About Quantum Computing Inc.
Quantum Computing Inc. (QCI) (OTCQB: QUBT) (Nasdaq: QUBT) is focused on accelerating the value of quantum computing for real-world business solutions. The company’s flagship product, Qatalyst, is the first software to bridge the power of classical and quantum computing, hiding complexity and empowering SMEs to solve complex computational problems today. QCI’s expert team in finance, computing, security, mathematics and physics has over a century of experience with complex technologies; from leading edge supercomputing innovations, to massively parallel programming, to the security that protects nations. Connect with QCI on LinkedIn and @QciQuantum on Twitter. For more information about QCI, visit www.quantumcomputinginc.com.
Important Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. Those statements include statements regarding the intent, belief or current expectations of Quantum Computing (“Company”), and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
The Company undertakes no obligation to update or revise forward-looking statements to reflect changed conditions. Statements in this press release that are not descriptions of historical facts are forward-looking statements relating to future events, and as such all forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," “aim to,” or variations of these or similar words, identify forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in the Company’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in the Company’s filings with the SEC.
Qatalyst™ is the trademark of Quantum Computing Inc. All other trademarks are the property of their respective owners.
Robert Liscouski, CEO
Quantum Computing, Inc.
+1 (703) 436-2161
Investor Relations Contact:
Ron Both or Grant Stude
CMA Investor Relations
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