Quantum Computing Inc. Faces Delisting Concerns

TL;DR

QCGI might get delisted, filing shows listing rule issues.

AI Summary

Quantum Computing Inc. filed an 8-K on August 22, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard, and also filed financial statements and exhibits. The filing date for this report was August 20, 2024.

Why It Matters

This filing indicates potential issues with Quantum Computing Inc.'s compliance with stock exchange listing requirements, which could lead to the delisting of its shares.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's stock trading status.

Key Players & Entities

• Quantum Computing Inc. (company) — Registrant
• August 20, 2024 (date) — Earliest event reported
• August 22, 2024 (date) — Filing date
• 5 Marine View Plaza, Suite 214, Hoboken, NJ 07030 (address) — Principal executive offices

FAQ

Key Financial Figures

• $0.0001 — ch registered Common stock (par value $0.0001 per share) QUBT The Nasdaq Stock Ma

Filing Documents

• ea0211970-8k_quantum.htm (8-K) — 25KB
• ea0211970ex99-1_quantum.htm (EX-99.1) — 7KB
• 0001213900-24-071905.txt ( ) — 205KB
• qubt-20240820.xsd (EX-101.SCH) — 3KB
• qubt-20240820_lab.xml (EX-101.LAB) — 33KB
• qubt-20240820_pre.xml (EX-101.PRE) — 22KB
• ea0211970-8k_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 August 20, 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 for the period ended June 30, 2024, by the due date of August 14, 2024, and because the Company remains delinquent in filing its Form 10-Q for the period ended March 31, 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 Reports on Form 10-Q and rectify the existing filing deficiencies. The Company has until September 4, 2024 to provide Nasdaq with an updated 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 dis

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits 99.1 Press Release dated August 22, 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: August 22, 2024 By: /s/ Christopher Boehmler Christopher Boehmler Chief Financial Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR