LEESBURG, Va., Sept. 19, 2018 (GLOBE NEWSWIRE) -- Quantum Computing Inc. (OTC:QUBT) (the “Company” or “Quantum Computing”), an advanced technology company developing applications for quantum computers, announced today that the company has been recognized by the OTC Markets Group as current in its OTC reporting requirements. The Company also reported that it is has raised over $2.5 million and is on track to complete its initial capital raise during Q4.
“This concludes our first phase of getting Quantum Computing Inc. established and funded” stated CEO Robert Liscouski. “We are very pleased with the way the initial capital raise has progressed during this transition period as we endeavor to become a fully reporting public company.
Quantum Computing is currently developing commercial projects that include a quantum encryptor, solving N.P. Complete Problems for the financial services market sector, and a quantum simulator for general problem solutions. We believe, the Company, based on its strategic development plan, anticipates generating revenue from its financial services applications within the next twelve to eighteen months.
Richard Malinowski, Chief Technology Operations Officer, has continued to build his technical development and advisory team to include experienced trading professionals, mathematicians and quantitative developers to address the market opportunities in the financial and security sectors. “We are right on track with our development efforts and expect to be in a revenue generating position in 2019. Our immediate focus is on developing software solutions that will allow us to solve several security related and NP Complete problems (those problems that cannot be solved with today’s computing standards). These systems, to our knowledge, will allow us to be the first to market with several encryption products and high value trading algorithms” stated Richard Malinowski, CTOO. “The market size for these algorithmic trading products are estimated to be $7.5 billion by 20251”, he added.
About Quantum Computing Inc.
Quantum Computing Inc. is developing processes to commercialize quantum computing and application services. The Company has assembled a team of experts in super computing and security who are designing a quantum simulator capable of applying genuine quantum solutions. For more information about the Company, please visit www.quantumcomputinginc.com or email info@quantumcomputinginc.com.
Safe Harbor Statement: Cautionary Note 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, 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 presentation 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,", or their negatives, or variations of these or similar words or expressions, identify forward-looking statements.
These forward-looking statements by their nature are estimates of future results only and involve substantial risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, successful completion of the Company’s proposed restructuring, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed from time to time in our reports filed with OTC Markets, which can be reviewed at www.otcmarkets.com.
1 (https://www.quantinsti.com)