Quantum puting (QUBT) - 2025 Q2 - Quarterly Report

PART I. FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements This section presents the unaudited condensed consolidated financial statements, including the balance sheets, statements of operations, statements of mezzanine and stockholders' equity, and statements of cash flows, along with their accompanying notes, providing a snapshot of the company's financial position and performance for the periods ended June 30, 2025 and December 31, 2024 Condensed Consolidated Balance Sheets The balance sheet shows a significant increase in total assets, primarily driven by a substantial rise in cash and cash equivalents, while total liabilities decreased due to a reduction in derivative liability, and stockholders' equity also saw a considerable increase | Metric | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | Change (in thousands) | % Change | | :----------------------------- | :----------------------------- | :------------------------------- | :-------------------- | :------- | | Cash and cash equivalents | $348,758 | $78,945 | $269,813 | 341.8% | | Total current assets | $350,225 | $79,151 | $271,074 | 342.5% | | Total assets | $426,084 | $153,559 | $272,525 | 177.5% | | Total current liabilities | $3,972 | $4,559 | $(587) | -12.9% | | Derivative liability | $24,594 | $40,532 | $(15,938) | -39.3% | | Total liabilities | $30,102 | $46,272 | $(16,170) | -34.9% | | Total shareholders' equity | $395,982 | $107,287 | $288,695 | 269.1% | Condensed Consolidated Statements of Operations The company experienced a significant increase in net loss for both the three and six months ended June 30, 2025, primarily driven by a substantial change in the fair value of derivative liability and increased operating expenses, despite a decrease in total revenue | Metric (in thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Total revenue | $61 | $183 | $100 | $210 | | Gross profit | $26 | $58 | $39 | $69 | | Total operating expenses | $10,197 | $5,325 | $18,496 | $11,654 | | Loss from operations | $(10,171) | $(5,267) | $(18,457) | $(11,585) | | Change in fair value of derivative liability | $(28,096) | $- | $(4,466) | $- | | Net loss attributable to common stockholders | $(36,482) | $(5,194) | $(19,500) | $(11,630) | | Basic Loss per share | $(0.26) | $(0.06) | $(0.14) | $(0.13) | Condensed Consolidated Statements of Mezzanine and Stockholders' Equity The company's stockholders' equity significantly increased during the six months ended June 30, 2025, primarily due to substantial proceeds from the issuance of shares for cash and the exercise of warrants, despite an accumulated deficit from net losses | Metric (in thousands) | Balances, January 1, 2025 | Issuance of shares for cash | Issuance of shares related to exercise of warrants | Stock-based compensation | Net Loss | Balances, June 30, 2025 | | :-------------------- | :------------------------ | :-------------------------- | :------------------------------------------------- | :----------------------- | :------- | :---------------------- | | Common Stock Amount | $13 | $2 | $1 | $- | $- | $16 | | Additional Paid-In Capital | $307,756 | $281,640 | $21,865 | $4,669 | $- | $615,948 | | Accumulated Deficit | $(200,482) | $- | $- | $- | $(19,500) | $(219,982) | | Total Stockholders' Equity | $107,287 | $281,642 | $21,866 | $4,669 | $(19,500) | $395,982 | Condensed Consolidated Statements of Cash Flows The company experienced a significant net increase in cash and cash equivalents for the six months ended June 30, 2025, primarily driven by substantial cash provided by financing activities, which offset cash used in operating and investing activities | Cash Flow Activity (in thousands) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------------- | :----------------------------- | :----------------------------- | | Net cash used in operating activities | $(10,534) | $(7,862) | | Net cash used in investing activities | $(2,757) | $(2,656) | | Net cash provided by financing activities | $283,104 | $10,985 | | Net increase in cash and cash equivalents | $269,813 | $467 | | Cash and cash equivalents, end of period | $348,758 | $2,526 | Notes to the Unaudited Condensed Consolidated Financial Statements These notes provide detailed information on the company's corporate history, business nature, significant accounting policies, segment reporting, income taxes, intangible assets, property and equipment, operating leases, commitments and contingencies, capital stock, stock-based compensation, related party transactions, license agreements, and subsequent events, offering crucial context to the condensed consolidated financial statements Note 1. Nature of the Organization and Business Quantum Computing Inc. (QCi) is an American company focused on developing quantum computing, reservoir computing, and remote sensing, imaging, and cybersecurity applications using integrated photonics and non-linear quantum optics, with its products designed for room-temperature, low-power operation, and Entropy Quantum Computing (EQC) as its leading application, while recent equity issuances have significantly improved its liquidity despite historical losses - QCi develops quantum computing, reservoir computing, and remote sensing/imaging/cybersecurity applications using integrated photonics and non-linear quantum optics[26] - The company's products, including its leading Entropy Quantum Computing (EQC) application, are designed to operate at room temperature and low power, emphasizing scalability, accessibility, and affordability[26][27] Liquidity Status (as of June 30, 2025) | Metric | Amount (in thousands) | | :-------------------- | :-------------------- | | Cash and cash equivalents | $348,800 | | Accumulated deficit | $(220,000) | | Working capital | $346,300 | | Shares of common stock issued (six months ended June 30, 2025) | 22,200 | | Net proceeds from common stock issuance | $281,600 | Note 2. Significant Accounting Policies This note outlines the significant accounting policies, including the basis of presentation, principles of consolidation, use of estimates, and specific policies for cash and cash equivalents, operating leases, goodwill valuation, property and equipment, impairment of long-lived assets, fair value of financial instruments, research and development costs, income taxes, and net loss per share, also detailing the adoption of new accounting pronouncements - The company prepares its consolidated financial statements in conformity with U.S. GAAP and SEC rules, with all intercompany balances and transactions eliminated[29][30] - Management makes significant estimates for goodwill and intangible assets valuation, deferred tax assets, equity-based transactions, and liquidity assessment[33] Fair Value of Financial Instruments (in thousands) | Metric | June 30, 2025 | December 31, 2024 | | :-------------------------- | :------------ | :---------------- | | Cash and cash equivalents (Level 1) | $348,400 | $78,900 | | Derivative liabilities (Level 3) | $24,600 | $40,500 | - Research and development costs are expensed as incurred, covering direct costs, outside contractors, intellectual property acquisition, and compliance fees[44] - The company adopted ASU 2023-09 (Income Taxes) as of January 1, 2025, which did not have a material effect, and is evaluating ASU 2024-03 (Income Statement Expenses) and ASU 2025-05 (Credit Losses)[50][52][53] Note 3. Segment Reporting The company operates as a single operating and reportable segment, with the CEO managing business activities at a consolidated level, and the segment information details revenue, significant expenses, and net loss for the three and six months ended June 30, 2025 and 2024 - The Chief Operating Decision Maker (CEO) manages the company's business activities as a single operating and reportable segment[55] Segment Information (in thousands) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Revenue | $61 | $183 | $100 | $210 | | Salaries and employee related costs | $3,994 | $2,623 | $7,239 | $4,836 | | Stock-based compensation | $1,778 | $651 | $3,182 | $1,936 | | Professional services and legal fees | $985 | $675 | $2,517 | $1,544 | | Operating loss | $(10,171) | $(5,267) | $(18,457) | $(11,585) | | Segment net (loss) income | $(36,482) | $(5,194) | $(19,500) | $(11,630) | Note 4. Income Taxes The company uses the asset and liability method for income taxes, recognizing deferred tax assets and liabilities, with a valuation allowance applied against all net deferred tax assets, resulting in a 0% effective tax rate for the six months ended June 30, 2025 and 2024, and also has uncertain tax positions related to R&D tax credits - The total effective tax rate was approximately 0% for both the six months ended June 30, 2025 and 2024, primarily due to a valuation allowance against net deferred tax assets[57] - As of June 30, 2025, the company has approximately $264 thousand in uncertain tax positions, all related to R&D tax credits, with no significant changes expected in the next 12 months[59] Note 5. Intangible Assets, net This note details the company's intangible assets, primarily acquired through the QPhoton Merger, including non-compete agreements, website domain/trademark, and technology/licensed patents, and provides the amortization expense and future amortization schedule Intangible Assets, Net (in thousands) | Asset Category | June 30, 2025 (Net Carrying Amount) | December 31, 2024 (Net Carrying Amount) | | :----------------------------- | :---------------------------------- | :------------------------------------ | | Non-compete agreement with founder | $- | $451 | | Website domain name and trademark | $386 | $488 | | Technology and licensed patents | $7,124 | $8,033 | | Total | $7,510 | $8,972 | Amortization Expense (in thousands) | Period | Amortization Expense | | :----------------------------- | :------------------- | | Three months ended June 30, 2025 | $686 | | Three months ended June 30, 2024 | $776 | | Six months ended June 30, 2025 | $1,462 | | Six months ended June 30, 2024 | $1,552 | Expected Future Amortization Expense (in thousands) | Year | Amortization | | :-------------------- | :----------- | | 2025 (remaining six months) | $1,010 | | 2026 | $2,021 | | 2027 | $1,903 | | 2028 | $1,819 | | 2029 | $757 | | Total | $7,510 | Note 6. Property and Equipment, net This note provides a breakdown of the company's property and equipment, primarily located in Hoboken, NJ, and Tempe, AZ, including computer and lab equipment, network equipment, furniture, software, and leasehold improvements, and details the accumulated depreciation and depreciation expense for the periods Property and Equipment, Net (in thousands) | Asset Category | June 30, 2025 | December 31, 2024 | | :-------------------------- | :------------ | :---------------- | | Total cost of property and equipment | $11,935 | $9,178 | | Accumulated depreciation | $(1,366) | $(966) | | Property and equipment, net | $10,569 | $8,212 | Depreciation Expense (in thousands) | Period | Depreciation Expense | | :----------------------------- | :------------------- | | Three months ended June 30, 2025 | $202 | | Three months ended June 30, 2024 | $71 | | Six months ended June 30, 2025 | $400 | | Six months ended June 30, 2024 | $139 | Note 7. Operating Leases The company has operating leases for office space in Hoboken, NJ, Tempe, AZ, and Arlington, VA, expiring through November 2028, with operating lease ROU assets and liabilities recognized based on the present value of future minimum lease payments, using an incremental borrowing rate of 10% - The company leases office space in three locations (Hoboken, NJ, Tempe, AZ, and Arlington, VA) with lease terms extending through November 30, 2028[62] Operating Lease Commitments (as of June 30, 2025, in thousands) | Year | Lease Payments Due | | :-------------------------- | :----------------- | | 2025 (remaining six months) | $396 | | 2026 | $807 | | 2027 | $828 | | 2028 | $458 | | Total minimum payments | $2,489 | | Present value of operating lease liabilities | $2,171 | | Long-term operating lease liabilities | $1,536 | - The weighted average remaining lease term is 3.1 years, and the weighted average discount rate used is 10%[63] Note 8. Commitments and Contingencies The company enters into standard indemnification arrangements and is involved in various legal proceedings, including a breach lawsuit and an appraisal action related to the QPhoton Merger with BV Advisory, which were settled in July 2025, and also faces a securities class action and shareholder derivative actions - The company has standard indemnification arrangements with business partners, customers, directors, and officers, with estimated minimal fair value[64][65] - BV Advisory filed a breach lawsuit and an appraisal action against QCi related to the QPhoton Merger, both of which were settled on July 17, 2025[68][69][72] - As of June 30, 2025, the company had a $536 thousand estimated payable to BV Advisory and a $24.6 million carrying value for Unissued QPhoton Warrants as a liability[68][72] Note 9. Capital Stock This note details the company's authorized stock, including Series A and B preferred stock (none outstanding), and common stock, covering various equity financing activities such as the Series A Convertible Preferred Offering (redeemed), an At-the-Market (ATM) Facility (no sales in H1 2025), and significant private placement offerings in January and June 2025, and also provides a summary of outstanding warrants and their impact on derivative liability - The company has authorized Series A and Series B preferred stock, with no shares issued and outstanding as of June 30, 2025[73] - The Series A Preferred Stock was fully redeemed by December 31, 2024, for an aggregate cash purchase price of $8.195 million[77] Equity Issuances (Six Months Ended June 30, 2025, in thousands) | Offering Type | Gross Proceeds | | :-------------------------- | :------------- | | January Private Placement | $100,000 | | June Private Placement | $200,000 | | Total net proceeds raised | $283,100 | Warrant Activity (Six Months Ended June 30, 2025, in thousands, except price) | Warrant Type | Exercise Price | Issued | Exercised | Forfeited / Cancelled | Outstanding (June 30, 2025) | | :-------------------------- | :------------- | :----- | :-------- | :-------------------- | :-------------------------- | | QPhoton Warrants | $0.0001 | 6,325 | (1,146) | (3,876) | 1,303 | | Placement Agent Warrants | $2.875 | 800 | (304) | - | 496 | | Placement Agent Warrants | $5.75 | 500 | (100) | - | 400 | | January Private Placement Warrants | $14.0875 | 327 | - | - | 327 | | Total Warrants Outstanding | | | | | 2,541 | - The company recognized a mark-to-market loss of $28.1 million and $4.5 million for the three and six months ended June 30, 2025, respectively, due to changes in the fair value of QPhoton Warrant liability, which had a carrying value of $24.6 million as of June 30, 2025[93] Note 10. Stock-based Compensation This note details the company's stock-based compensation plans, including the 2019 and 2022 Equity and Incentive Plans, summarizing stock option and restricted stock activity, as well as the recognized stock-based compensation expense for employees and for services rendered by consultants - The 2022 Equity and Incentive Plan reserved 19.0 million shares of common stock for issuance, with 16.6 million shares issued and outstanding as of June 30, 2025[96] Stock Option Activity (Six Months Ended June 30, 2025, in thousands, except price) | Metric | Number Outstanding | Weighted Average Exercise Price per Share | | :-------------------------- | :----------------- | :---------------------------------------- | | Balance as of December 31, 2024 | 12,983 | $2.34 | | Granted | 1,005 | $7.63 | | Exercised | (6,917) | $2.31 | | Forfeited | (260) | $9.26 | | Balance as of June 30, 2025 | 6,811 | $2.89 | | Vested and exercisable as of June 30, 2025 | 3,556 | $3.49 | Stock-based Compensation Expense (in thousands) | Expense Category | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Research and development | $467 | $505 | $964 | $1,199 | | Selling and marketing | $31 | $43 | $91 | $111 | | General and administrative | $1,279 | $143 | $2,109 | $607 | | Total stock-based compensation | $1,777 | $691 | $3,164 | $1,917 | Note 11. Related Party Transactions There were no related party transactions during the three and six months ended June 30, 2025 and 2024 - No related party transactions occurred during the three and six months ended June 30, 2025 and 2024[104] Note 12. License Agreement – Stevens Institute of Technology The company holds a License Agreement with the Stevens Institute, assigned during the QPhoton Merger, granting commercial use and sublicensing rights for licensed patents, applications, and 'Know-How', requiring annual reports and quarterly royalty payments (3.5% of net sales) upon commercialization, with the company also responsible for patent prosecution and maintenance costs - The Stevens License Agreement grants the company commercial use and sublicensing rights for licensed technology, effective for 30 years or until the last patent expires[105] - Consideration for the agreement includes an initial $35 thousand payment, $28 thousand annually, equity equivalent to 9% of outstanding equity, and 3.5% royalties on net sales of licensed products[107] - As of June 30, 2025, the company has begun commercializing some licensed technology but has not recognized related revenue or incurred royalty expenses[108] Note 13. Subsequent Events Subsequent to the reporting period, on July 17, 2025, the company settled all disputes with Barksdale and BV Advisory, agreeing to pay $750,000 and issue 1.9 million shares of common stock, with a resale registration statement filed on July 28, 2025 - On July 17, 2025, the company settled all disputes with Barksdale and BV Advisory[109] - The settlement terms included a payment of $750,000 and the issuance of 1.9 million shares of common stock to Barksdale or his designees[109] - A resale registration statement for the issued shares was filed on July 28, 2025, and declared effective on August 4, 2025[109] Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations This section provides management's perspective on the company's financial condition and results of operations, including a business overview, discussion of economic conditions and risks, detailed analysis of financial performance, and an assessment of liquidity and capital resources, highlighting the company's development stage, quantum technology focus, and significant financial changes Business Overview QCi is a development-stage company focused on quantum and ancillary non-quantum products for high-performance computing, sensing, imaging, and cybersecurity, utilizing proprietary photonics technology, with its Entropy Quantum Computer (EQC) as a key application, and has completed a Thin Film Lithium Niobate (TFLN) optical integrated circuits manufacturing facility in Tempe, Arizona - QCi is a development-stage company with limited operations and revenue, developing quantum and non-quantum products for high-performance computing applications based on proprietary photonics technology[116] - The company's core technology involves conditioning, manipulating, and measuring single photons, with the Entropy Quantum Computer (EQC) being a leading application designed to solve complex optimization problems at room temperature and low power[117] - QCi's longer-term plan is to migrate product designs to Thin Film Lithium Niobate (TFLN) optical integrated circuits, with a state-of-the-art TFLN chip manufacturing facility completed in Tempe, Arizona in March 2025[118] Economic Conditions, Challenges, and Risks The company operates in a dynamic and highly competitive market for high-performance computing and cloud services, facing challenges from new computing devices and competing cloud services, with investments in quantum optical chips increasing operating costs and reliance on third-party suppliers posing supply chain risks, while attracting and retaining qualified employees is also crucial for success - The markets for high-performance conventional and quantum computing and cloud-based services are dynamic and highly competitive, with competitors developing new devices and enhancing cloud services[120] - Investments in quantum optical chips and devices are expected to increase operating costs and may decrease operating margins, with reliance on third-party suppliers for critical components posing potential disruption risks[121] - Success is highly dependent on the ability to attract and retain qualified employees in a competitive talent market[122] Results of Operations The company experienced a significant decrease in total revenue for both the three and six months ended June 30, 2025, primarily due to changes in customer contracts, despite an improved gross profit margin, while operating expenses, particularly research and development, sales and marketing, and general and administrative, increased substantially, and a significant non-operating loss was recorded due to changes in the fair value of derivative liability Key Financial Results (in thousands, except percentages) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | % Change | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | % Change | | :-------------------------------- | :------------------------------- | :------------------------------- | :------- | :----------------------------- | :----------------------------- | :------- | | Total revenue | $61 | $183 | (67)% | $100 | $210 | (52)% | | Gross profit | $26 | $58 | (55)% | $39 | $69 | (43)% | | Gross profit margin | 43% | 32% | 34% | 39% | 33% | 19% | | Research and development | $5,975 | $2,094 | 185% | $8,960 | $4,315 | 108% | | Sales and marketing | $680 | $429 | 59% | $1,352 | $880 | 54% | | General and administrative | $3,542 | $2,802 | 26% | $8,184 | $6,459 | 27% | | Loss from operations | $(10,171) | $(5,267) | 93% | $(18,457) | $(11,585) | 59% | | Change in fair value of derivative liability | $(28,096) | $- | NM | $(4,466) | $- | NM | | Net loss | $(36,482) | $(5,194) | 602% | $(19,500) | $(11,630) | 68% | - Revenue decreased primarily due to changes in the number, size, and effort level of active customer proof-of-concept and R&D services and custom hardware contracts[123] - Research and development expenses increased significantly due to higher headcount, payroll costs, recurring lab equipment and consumables, and depreciation[127] - A substantial loss of $28.1 million (three months) and $4.5 million (six months) was recognized from the change in fair value of the QPhoton Warrant liability, driven by mark-to-market adjustments[133] Liquidity and Capital Resources The company has historically incurred net losses and negative cash flows from operations but significantly improved its liquidity with $348.8 million in cash and cash equivalents as of June 30, 2025, primarily from $281.6 million in equity private placements, resulting in a substantial increase in working capital and providing sufficient funds for the next 12 months, though future funding will be required for continued investment in operations and product development - The company has incurred net losses and negative cash flows from operations since inception[134] Liquidity and Working Capital (in thousands) | Metric | June 30, 2025 | December 31, 2024 | Change | | :-------------------------- | :------------ | :---------------- | :----- | | Cash and cash equivalents | $348,800 | $78,945 | $269,855 | | Total current assets | $350,225 | $79,151 | $271,074 | | Total current liabilities | $3,972 | $4,559 | $(587) | | Working capital | $346,253 | $74,592 | $271,661 | - Net cash provided by financing activities was $283.1 million for the six months ended June 30, 2025, primarily from stock issuances, significantly increasing cash and cash equivalents[139][141] - The company believes existing cash and cash equivalents, along with future cash generation and equity/debt issuances, will be sufficient to meet liquidity needs for at least the next 12 months[135] Critical Accounting Estimates The company's accounting policies require significant management judgment and estimates, but there have been no material changes to its critical accounting estimates since the Annual Report on Form 10-K for the year ended December 31, 2024 - No material changes to critical accounting estimates have occurred since the Annual Report on Form 10-K for the year ended December 31, 2024[144] Item 3. Quantitative and Qualitative Disclosures About Market Risk This section states that there are no quantitative and qualitative disclosures about market risk applicable to the company for the reporting period - Not applicable[145] Item 4. Controls and Procedures Management concluded that the company's disclosure controls and procedures were not effective as of June 30, 2025, to provide reasonable assurance for timely and accurate information disclosure, however, there were no material changes in internal control over financial reporting during the most recent fiscal quarter - As of June 30, 2025, the company's disclosure controls and procedures were not effective to provide reasonable assurance for timely and accurate information disclosure[147] - There were no changes in internal control over financial reporting during the most recent fiscal quarter that materially affected, or are reasonably likely to materially affect, internal control over financial reporting[148] PART II. OTHER INFORMATION Item 1. Legal Proceedings This section details the company's involvement in various legal proceedings, including resolved disputes with BV Advisory Partners, LLC concerning an appraisal action and breach of contract, and ongoing litigation such as a securities class action lawsuit, multiple shareholder derivative actions, and stock options arbitration with former consultants, with the company disputing the allegations and intending to vigorously defend against the claims - BV Advisory Partners, LLC filed an appraisal action and a breach of contract lawsuit against the company, both of which were settled on July 17, 2025, with the company agreeing to pay $750,000 and issue 1.9 million shares of common stock[151][152][155] - A securities class action lawsuit was filed on February 25, 2025, alleging violations of the Exchange Act due to false/misleading statements, with the company disputing allegations and intending to defend vigorously[156] - Multiple shareholder derivative actions were filed in March, May, and June 2025, alleging breaches of fiduciary duties and other claims, which have been stayed pending resolution of the securities class action[157][158][159] - The company is involved in arbitrations with two former consultants regarding the forfeiture of stock options, disputing their claims[160] Item 1A. Risk Factors This section refers to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2024, and the Form 10-Q for the quarter ended March 31, 2025, stating that there have been no material changes to these risks - No material changes to the company's risk factors have occurred since the 2024 Form 10-K, except for those disclosed in the first quarter 2025 Form 10-Q[161] Item 2. Unregistered Sales of Equity Securities and Use of Proceeds There were no unregistered, unreported sales of equity securities or company repurchases of equity securities during the three months ended June 30, 2025 - No unregistered or unreported sales of equity securities or company repurchases occurred during the three months ended June 30, 2025[162] Item 3. Defaults Upon Senior Securities The company reported no defaults in the payment of principal, interest, sinking or purchase fund installment, or any other material default with respect to any indebtedness - There has been no default in the payment of principal, interest, or any other material default with respect to any indebtedness of the company[163] Item 4. Mine Safety Disclosures This item is not applicable to the company - Not Applicable[164] Item 5. Other Information There is no other information to report under this item - None[165] Item 6. Exhibits This section lists all exhibits filed as part of the Form 10-Q, including employment agreements, purchase agreements, placement agency agreements, lock-up agreements, separation agreements, and certifications from the CEO and CFO, along with XBRL documents - Exhibits include various agreements (Employment, Purchase, Placement Agency, Lock-Up, Separation) and certifications (CEO, CFO) related to the reporting period[166] - The filing also includes Inline XBRL Instance, Taxonomy Extension Schema, Calculation, Definition, and Label Linkbase Documents, and a Cover Page Interactive Data File[166]