Quantum Computing Inc. Faces Delisting Concerns
Ticker: QUBT · Form: 8-K · Filed: Jun 27, 2024 · CIK: 1758009
| Field | Detail |
|---|---|
| Company | Quantum Computing Inc. (QUBT) |
| Form Type | 8-K |
| Filed Date | Jun 27, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: QCGI
TL;DR
QCGI might get delisted - big trouble ahead.
AI Summary
Quantum Computing Inc. filed an 8-K on June 27, 2024, reporting a significant event on June 24, 2024. The filing indicates a potential notice of delisting or failure to meet continued listing standards, and a transfer of listing. Specific details regarding the nature of the delisting concern or the transfer are not elaborated in this excerpt.
Why It Matters
This filing suggests Quantum Computing Inc. may be at risk of being delisted from its current exchange, which could significantly impact its stock liquidity and investor confidence.
Risk Assessment
Risk Level: high — The filing explicitly mentions 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard', indicating a severe risk to the company's stock exchange status.
Key Players & Entities
- Quantum Computing Inc. (company) — Registrant
- June 24, 2024 (date) — Earliest event date
- June 27, 2024 (date) — Filing date
- 001-40615 (other) — SEC File Number
FAQ
What specific listing rule or standard has Quantum Computing Inc. failed to satisfy?
The provided excerpt does not specify which particular listing rule or standard Quantum Computing Inc. has failed to satisfy.
What is the reason for the potential transfer of listing mentioned in the filing?
The excerpt does not provide the reason for the potential transfer of listing.
Has Quantum Computing Inc. received an official delisting notice, or is this a preliminary indication?
The filing is titled 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard', suggesting a formal notification has been issued or is being reported.
What is the exchange on which Quantum Computing Inc. is currently listed and potentially facing delisting from?
The excerpt does not explicitly state the name of the stock exchange where Quantum Computing Inc. is listed.
What steps, if any, is Quantum Computing Inc. taking to address the delisting concerns?
The provided text does not contain information about the steps Quantum Computing Inc. is taking to address the delisting concerns.
Filing Stats: 667 words · 3 min read · ~2 pages · Grade level 12.4 · Accepted 2024-06-27 16:00:15
Key Financial Figures
- $0.0001 — ch registered Common stock (par value $0.0001 per share) QUBT The Nasdaq Stock Ma
Filing Documents
- ea0208501-8k_quantum.htm (8-K) — 24KB
- ea020850101ex99-1_quantum.htm (EX-99.1) — 7KB
- 0001213900-24-056631.txt ( ) — 204KB
- qubt-20240624.xsd (EX-101.SCH) — 3KB
- qubt-20240624_lab.xml (EX-101.LAB) — 33KB
- qubt-20240624_pre.xml (EX-101.PRE) — 22KB
- ea0208501-8k_quantum_htm.xml (XML) — 4KB
01. Notice
Item 3.01. Notice of Delisting for Failure to Satisfy a Continued Listing Rule or Standard: Transfer of Listing. On June 24, 2024, Quantum Computing Inc. (the "Company") received a notice (the "Notice") from Nasdaq Stock Market LLC ("Nasdaq") that the Company has failed to satisfy a standard for continued listing, Nasdaq Listing Rule 5250(c)(1), because the Company did not file its Quarterly Report on Form 10-Q by the due date of May 15, 2024. As previously disclosed, due to the Order of the Securities and Exchange Commission (the "Commission") permanently barring BF Borgers CPA PC ("BF Borgers") and Mr. Borgers from appearing or practicing before the Commission as an accountant, on May 3, 2024, the Company dismissed BF Borgers as the Company's independent registered public accounting firm, at which time work on the Company's periodic reports was delayed. The Company has engaged a new independent registered public accounting firm to complete the audit and review of its annual and quarterly financial statements, respectively, as expeditiously as possible, following which the Company will promptly file its Quarterly Report on Form 10-Q and rectify the existing filing deficiencies. The Company has until August 23, 2024 to notify Nasdaq of this plan to regain compliance. If Nasdaq chooses to accept the Company's plan, it may grant an exception of up to 180 calendar days, or until December 16, 2024, in which to regain compliance. If Nasdaq does not accept the Company's plan, the Company would have the opportunity to appeal the decision to a Hearings Panel. The Notice has no immediate effect on the Nasdaq listing or trading of the Company's common stock. This Current Report on Form 8-K is filed to satisfy the obligation under Nasdaq Listing Rule 5810(b) and Item 3.01(a) of Form 8-K that the Company publicly disclose the deficiency.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits 99.1 Press Release dated June 27, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. QUANTUM COMPUTING INC. Date: June 27, 2024 By: /s/ Christopher Boehmler Christopher Boehmler Chief Financial Officer 2