The university's renewed investment in the National Quantum Laboratory bolsters Maryland's leadership in quantum computing COLLEGE PARK, Md., Sept. 11, 2024 /PRNewswire/ -- The University of Maryland, an international powerhouse in quantum research and applications, and IonQ (NYSE: IONQ), a leader in the quantum computing industry, today announced they have signed a $9 million agreement to expand their partnership to provide state-of-the-art quantum computing access at the National Quantum Lab at Maryland ( ...

SEATTLE, Sept. 11, 2024 /PRNewswire/ -- Spectral Capital Corporation (OTCQB: FCCN), a pioneer in Quantum as a Service (QaaS) computing and decentralized cloud infrastructure, is pleased to announce that it has entered into a definitive agreement to acquire Crwdunit Inc., a wholly-owned subsidiary of CrowdPoint Technologies. The agreement provides for the issuance of Spectral Capital stock, with a comprehensive due diligence period currently underway. Crwdunit Inc. is the creator of a proprietary Quantizatio ...

● . ● | --- | --- | |-------------------------------------------------|-------| | | | | Quantum eMotion Corp. Recognized for Pioneering | | | Quantum-Safe Communication Solutions at | | | Quantum World Congress 2024 | | September 10, 2024 12:00 PM EDT | Source: Quantum eMotion Corp. Montreal, Quebec--(Newsfile Corp. - September 10, 2024) - Quantum eMotion Corp. (TSXV: QNC) (OTCQB: QNCCF) ("QeM" or the "Company") is pleased to announce that the company has been recently featured at the prestigious Quantum Wo ...

SEATTLE, Sept. 10, 2024 /PRNewswire/ -- Spectral Capital Corporation (OTCQB: FCCN), a pioneering innovator in Quantum as a Service (QaaS) computing and decentralized cloud services, is excited to announce the acquisition of Quantomo, a groundbreaking company at the forefront of quantum tomography technology. Quantomo, short for "Quantum Tomography," has developed revolutionary quantum algorithms designed to redefine the future of search engines, surpassing traditional search methods employed by industry gia ...

● . Sleep Apnea Pill: Quantum Research Survey Shows Sleep Apnea Patients Seeking CPAP Alternatives A new survey conducted by Quantum Research Group, LLC finds that more than half of patients diagnosed with sleep apnea are not satisfied with their current treatment. Nearly 70 percent of patients express a willingness to switch to a prescribed pill-form treatment. September 09, 2024 8:00 AM EDT | Source: Quantum Media Group, LLC New York, New York--(Newsfile Corp. - September 9, 2024) - Quantum Research Group ...

MITCHEL FIELD, N.Y., Sept. 06, 2024 (GLOBE NEWSWIRE) -- Today Frequency Electronics, Inc. ("FEI" or the "Company") (NASDAQ-FEIM) is proud to announce the inaugural Quantum Sensing Summit, an exclusive gathering of the brightest minds, leading industry players, and key government decision-makers dedicated to advancing the field of quantum sensing. As both host and sponsor, Frequency Electronics is committed to driving innovation and transforming research discoveries into real-world applications. The summit w ...

Financial Performance - Total revenue for Q3 2023 was $71,926,000, a decrease of 36.6% compared to $113,475,000 in Q3 2022[15] - Product revenue decreased to $37,113,000 in Q3 2023 from $77,494,000 in Q3 2022, representing a decline of 52.1%[15] - Gross profit for Q3 2023 was $29,181,000, down 31.6% from $42,568,000 in Q3 2022[15] - Total revenue for the three months ended December 31, 2023, was $71.926 million, a decrease of 37% compared to $113.475 million in the same period of 2022[105] - Product revenue decreased by $40.4 million, or 52%, primarily due to lower demand from large hyperscale customers[106] - Service and subscription revenue decreased by $0.4 million, or 1%, attributed to certain long-lived products reaching their end-of-service-life[108] - Gross profit for the three months ended December 31, 2023, was $29.181 million, down from $42.568 million in the same period of 2022, resulting in a gross margin increase to 40.6% from 37.5%[110] - Total revenue for the nine months ended December 31, 2023, was $240.1 million, a decrease of $72.8 million or 23% compared to $312.9 million in the same period in 2022[119] - Product revenue decreased by $64.6 million, or 32%, primarily due to lower demand from large hyperscale customers and declines in the linear-tape open media market[120] - Service and subscription revenue decreased by $5.7 million, or 6%, driven by lower legacy service revenues, partially offset by higher subscription revenue[121] - Royalty revenue decreased by $2.5 million, or 26%, due to decreased market volume of older generation linear-tape open media[122] Loss and Expenses - Net loss for the nine months ended Q3 2023 was $22,342,000, compared to a net loss of $8,190,000 for the same period in 2022[17] - Operating expenses for Q3 2023 totaled $35,397,000, a decrease of 8.3% from $38,521,000 in Q3 2022[15] - The company experienced a net loss of $9,869,000 for the three months ended September 30, 2023, compared to a net income of $113,000 for the same period in the previous year[18] - The net loss attributable to common stockholders for the three months ended December 31, 2023, was $(9,869,000), resulting in a basic and diluted net loss per share of $(0.10)[71] - Net loss for the three months ended December 31, 2023, was $9.869 million, compared to a net income of $0.113 million in the same period of 2022[118] - Restructuring charges amounted to $0.497 million, compared to a credit of $(0.041) million in the same period of 2022[114] Cash and Debt - Cash, cash equivalents, and restricted cash at the end of Q3 2023 were $24,549,000, down from $26,247,000 at the end of Q3 2022[17] - As of December 31, 2023, the Company's total debt included a Term Loan of $87.3 million and a PNC Credit Facility of $32.0 million, with a current portion of $114.6 million[48] - Cash and cash equivalents as of December 31, 2023, were $24.4 million, with total outstanding Term Loan debt of $87.3 million and PNC Credit Facility borrowings of $32.2 million[135] - The Company incurred $0.9 million in original issuance discount and origination fees related to the 2023 Term Loan, which will be amortized over the loan term[53] - The PNC Credit Facility has a maximum borrowing capacity of $40.0 million, with an available borrowing base of $32.2 million as of December 31, 2023[49] Stockholder Information - As of September 30, 2023, Quantum Corporation reported a total stockholders' deficit of $94,433,000, an increase from $77,963,000 as of December 31, 2022[18] - The total common shares outstanding increased from 93,144,000 on December 31, 2022, to 95,519,000 on September 30, 2023[18] - The company issued 331,000 shares under employee incentive plans during the three months ended September 30, 2023[18] - The fair value of Lender Warrants increased from $7,989,000 on March 31, 2023, to $1,843,000 by December 31, 2023[66] Accounting and Reporting - The company is currently evaluating the impact of recently issued accounting standards updates on its financial reporting[32][33] - The company identified a need to restate financial statements due to inconsistencies in the application of Topic 606 and Topic 815, affecting revenue allocations and warrant classifications[83] - The management evaluated the effectiveness of disclosure controls and procedures and concluded they were not effective due to material weaknesses identified[148] - The company has identified material weaknesses in its internal control over financial reporting, particularly related to accounting practices under ASC Topic 606 and Topic 815, which materially impacted revenue allocations and warrant classifications for the quarter ended December 31, 2023[150][151][152] Market and Economic Conditions - The macroeconomic environment remains uncertain, with challenges such as higher interest rates and inflation impacting sales cycles[102] - The company has not experienced any material changes to its risk factors as previously disclosed in the Annual Report[157] Legal Matters - The Company plans to aggressively defend itself against a lawsuit filed by Arrow Electronics, seeking just over $4.6 million in damages[78]

● . Terranova Defense and Quantum eMotion Forge a Global Cybersecurity Commercial Partnership August 27, 2024 1:13 PM EDT | Source: Quantum eMotion Corp. Montreal, Quebec--(Newsfile Corp. - August 27, 2024) - Terranova Defense Solution Incorporated (TDS) and Quantum eMotion Corp. (TSXV: QNC) (OTCQB: QNCCF) (QeM) are excited to announce a groundbreaking partnership aimed at accelerating the commercialization of advanced cybersecurity solutions and key products. This strategic alliance designates QeM as the e ...

Quantum Corporation (QMCO) recently announced that it will execute a 1-for-20 reverse stock split strategy to increase the per share trading price of its common stock and adhere to the Nasdaq stock market's continued listing standards. Under reverse stock split, a company reduces its total number of outstanding shares while proportionally increasing the share price. With this, QMCO's every 20 shares of its common stock will be reclassified into one share. Although the number of shares each investor holds de ...

Melbourne, Victoria, Australia--(Newsfile Corp. - August 19, 2024) - Besra Gold Inc (ASX: BEZ) (Besra or the Company) refers to a Quantum Metal Sdn Bhd (Quantum) Press Release authorised by Dato' Lim Kong Soon (Chairman of Quantum and Besra) dated 17 August 2024 (Press Release). The Press Release states that Quantum is "…pleased to announce that Besra's gold mining operations are growing rapidly, in line with our commitment to 'Preserve and Grow Your Wealth.' The gold you own is guaranteed to be safe and fu ...