2023 Q1 Form 10-K Financial Statement
#000121390023024218 Filed on March 30, 2023
Income Statement
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
Revenue | $120.5K | $1.280K | $135.6K |
YoY Change | 285.82% | ||
Cost Of Revenue | $56.24K | $19.24K | $60.93K |
YoY Change | 386.08% | ||
Gross Profit | $64.29K | -$17.96K | $74.71K |
YoY Change | 226.85% | ||
Gross Profit Margin | 53.34% | -1403.13% | 55.08% |
Selling, General & Admin | $2.670M | $16.79M | $8.726M |
YoY Change | -53.2% | 337.5% | -40.0% |
% of Gross Profit | 4152.55% | 11679.06% | |
Research & Development | $1.535M | $1.420M | $4.562M |
YoY Change | 49.78% | 79.64% | 76.42% |
% of Gross Profit | 2386.95% | 6105.67% | |
Depreciation & Amortization | $1.544M | $1.530M | $3.301M |
YoY Change | 50693.75% | 59897.65% | 36574.22% |
% of Gross Profit | 2401.78% | 4417.75% | |
Operating Expenses | $7.852M | $18.21M | $36.65M |
YoY Change | 16.69% | 293.45% | 113.97% |
Operating Profit | -$7.788M | -$18.23M | -$36.58M |
YoY Change | 16.08% | 293.84% | 113.54% |
Interest Expense | -$502.9K | -$338.3K | -$1.125M |
YoY Change | 149.41% | 112.88% | 631.23% |
% of Operating Profit | |||
Other Income/Expense, Net | -$718.6K | -$219.8K | -$2.014M |
YoY Change | 222.07% | -97.97% | -81.02% |
Pretax Income | -$8.506M | -$18.79M | -$38.59M |
YoY Change | 19.24% | 20.27% | 38.33% |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$8.506M | -$18.79M | -$38.59M |
YoY Change | 19.24% | 20.27% | 38.33% |
Net Earnings / Revenue | -7057.28% | -1467667.97% | -28451.36% |
Basic Earnings Per Share | -$0.14 | -$0.69 | |
Diluted Earnings Per Share | -$0.11 | -$0.34 | -$0.69 |
COMMON SHARES | |||
Basic Shares Outstanding | 60.50M shares | 53.30M shares | 55.96M shares |
Diluted Shares Outstanding | 78.82M shares | 55.96M shares |
Balance Sheet
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $6.765M | $5.308M | $5.308M |
YoY Change | -41.24% | -68.29% | -68.29% |
Cash & Equivalents | $6.765M | $5.308M | $5.308M |
Short-Term Investments | |||
Other Short-Term Assets | $42.39K | $42.11K | $1.654M |
YoY Change | -90.87% | -91.65% | 228.13% |
Inventory | |||
Prepaid Expenses | $224.3K | $224.3K | |
Receivables | $63.01K | $12.77K | $12.77K |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $7.095M | $5.588M | $6.976M |
YoY Change | -46.5% | -67.59% | -59.54% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $1.309M | $975.2K | $975.2K |
YoY Change | 3040.08% | 2258.44% | 2258.33% |
Goodwill | $59.13M | $59.13M | |
YoY Change | |||
Intangibles | $20.72M | $22.22M | |
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $81.12M | $82.74M | |
YoY Change | 390300.2% | ||
Total Long-Term Assets | $82.43M | $83.71M | $82.32M |
YoY Change | 197627.23% | 202368.64% | 198992.31% |
TOTAL ASSETS | |||
Total Short-Term Assets | $7.095M | $5.588M | $6.976M |
Total Long-Term Assets | $82.43M | $83.71M | $82.32M |
Total Assets | $89.53M | $89.30M | $89.30M |
YoY Change | 572.98% | 416.66% | 416.66% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $922.0K | $871.9K | $871.9K |
YoY Change | 15.69% | 87.56% | 87.56% |
Accrued Expenses | $1.719M | $3.560M | $4.918M |
YoY Change | 10131.09% | 643.98% | 890.34% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $8.288M | $535.7K | $535.7K |
YoY Change | |||
Long-Term Debt Due | $535.7K | ||
YoY Change | |||
Total Short-Term Liabilities | $12.57M | $6.545M | $6.545M |
YoY Change | 1112.41% | 504.76% | 504.76% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $4.110K | $7.633M | $7.633M |
YoY Change | |||
Other Long-Term Liabilities | $7.759K | $225.3K | $225.3K |
YoY Change | |||
Total Long-Term Liabilities | $11.87K | $7.858M | $7.858M |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $12.57M | $6.545M | $6.545M |
Total Long-Term Liabilities | $11.87K | $7.858M | $7.858M |
Total Liabilities | $12.58M | $14.40M | $14.40M |
YoY Change | 1113.56% | 1230.83% | 1230.83% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$128.5M | -$120.0M | |
YoY Change | 47.42% | ||
Common Stock | $6.049K | $5.596K | |
YoY Change | 91.91% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $76.94M | $74.90M | $74.90M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $89.53M | $89.30M | $89.30M |
YoY Change | 572.98% | 416.66% | 416.66% |
Cashflow Statement
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$8.506M | -$18.79M | -$38.59M |
YoY Change | 19.24% | 20.27% | 38.33% |
Depreciation, Depletion And Amortization | $1.544M | $1.530M | $3.301M |
YoY Change | 50693.75% | 59897.65% | 36574.22% |
Cash From Operating Activities | -$4.716M | -$5.992M | -$17.56M |
YoY Change | 12.46% | 208.63% | 158.01% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $378.8K | -$58.54M | $869.7K |
YoY Change | -11305.74% | 528226.71% | -4585.23% |
Acquisitions | $1.356M | ||
YoY Change | |||
Other Investing Activities | $0.00 | $25.47M | -$1.358M |
YoY Change | -100.0% | -140981.91% | 6306.65% |
Cash From Investing Activities | -$378.8K | $84.01M | -$2.227M |
YoY Change | -69.55% | -288200.31% | 5388.56% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | $220.0K | ||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $0.00 | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $6.551M | -83.09M | $8.354M |
YoY Change | 2983.04% | -1103.96% | -0.4% |
NET CHANGE | |||
Cash From Operating Activities | -$4.716M | -5.992M | -$17.56M |
Cash From Investing Activities | -$378.8K | 84.01M | -$2.227M |
Cash From Financing Activities | $6.551M | -83.09M | $8.354M |
Net Change In Cash | $1.456M | -5.073M | -$11.43M |
YoY Change | -127.87% | -180.45% | -841.09% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$4.716M | -$5.992M | -$17.56M |
Capital Expenditures | $378.8K | -$58.54M | $869.7K |
Free Cash Flow | -$5.095M | $52.55M | -$18.43M |
YoY Change | 21.59% | -2821.92% | 171.56% |
Facts In Submission
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CY2022 | us-gaap |
Stock Granted During Period Value Sharebased Compensation Forfeited
StockGrantedDuringPeriodValueSharebasedCompensationForfeited
|
1 | usd |
CY2022 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
319950 | usd |
CY2022 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
68724976 | usd |
CY2022 | qubt |
Warrants Issued For Merger With Q Photon
WarrantsIssuedForMergerWithQPhoton
|
14358891 | usd |
CY2022 | qubt |
Stock Issue During Period Value Preferred Oid Amortization
StockIssueDuringPeriodValuePreferredOIDAmortization
|
318750 | usd |
CY2022 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
13518567 | usd |
CY2022 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
47400 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-38593700 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
74896731 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-38593700 | usd |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-27898847 | usd |
CY2022 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
52181 | usd |
CY2021 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
8998 | usd |
CY2022 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
3248495 | usd |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
13885913 | usd |
CY2021 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
10203853 | usd |
CY2021 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
10715799 | usd |
CY2022 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
132998 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
12774 | usd |
CY2022 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-274807 | usd |
CY2021 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
442224 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
218574 | usd |
CY2021 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
98164 | usd |
CY2022 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
3106955 | usd |
CY2021 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
487828 | usd |
CY2022 | qubt |
Increase Decrease In Preferred Dividends Payable
IncreaseDecreaseInPreferredDividendsPayable
|
102390 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
-3385 | usd |
CY2021 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
3385 | usd |
CY2022 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
30178 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-17557368 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-6823044 | usd |
CY2022 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
869687 | usd |
CY2021 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
19391 | usd |
CY2022 | qubt |
Payment Of Other Assets Security Deposits
PaymentOfOtherAssetsSecurityDeposits
|
-40606 | usd |
CY2021 | qubt |
Payment Of Other Assets Security Deposits
PaymentOfOtherAssetsSecurityDeposits
|
3109 | usd |
CY2022 | qubt |
Other Current Assets
OtherCurrentAssets
|
42105 | usd |
CY2022 | qubt |
Net Cash Used For Q Photon Merger
NetCashUsedForQPhotonMerger
|
1356071 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-2227257 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-22500 | usd |
CY2022 | us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
8035684 | usd |
CY2021 | qubt |
Proceeds Fromforgiveness Of Loans
ProceedsFromforgivenessOfLoans
|
-218371 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
|
47723 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
|
271027 | usd |
CY2021 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
8606250 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
8354434 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
8387879 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-11430191 | usd |
CY2021 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
1542335 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
16738657 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
15196322 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
5308466 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
16738657 | usd |
CY2022 | us-gaap |
Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
|
1302851 | usd |
CY2021 | us-gaap |
Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
|
18084 | usd |
CY2022 | us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
83083867 | usd |
CY2022 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note 1 – <span style="text-decoration:underline">Nature of the Organization and Business </span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration:underline">Corporate History</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quantum Computing was formed in the State of Nevada on July 25, 2001, under its prior name, Ticketcart, Inc. The Company redomiciled to Delaware on February 22, 2018 and changed its name to Quantum Computing Inc. Effective July 20, 2018, the trading symbol for the Company’s common stock, par value $0.0001, on the OTC Market changed from "IBGH” to “QUBT”. On July 15, 2021 the Company uplisted to The NASDAQ Stock Market. On June 16, 2022, the Company merged with QPhoton, Inc., a developer of quantum photonic systems and related technologies and applications.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration:underline">Nature of Business</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is a developer of full stack quantum computing systems, including hardware platforms and ready-to-run software for complex optimization computations. The Company was founded in 2018 by leaders in supercomputing, mathematics, and massively parallel programming to solve the enormous challenge with quantum computing in terms of the high cost and lengthy times required for quantum software development. While much of the market focuses on Quantum Processing Unit (QPU) hardware, QCI’s experts realized that the quantum marketplace and vendors were limiting access to quantum computers due to the complexity of programming them. At the present time, only a very limited number of highly specialized quantum experts are able to use software development toolkits (“SDKs”) to create these critical programs and applications. The Company’s software solution, Qatalyst, enables subject matter experts (SMEs) to run existing software on quantum processing units without the need for specialized programming with SDKs. As a result of the merger with QPhoton, Inc. in June 2022, the Company is now able to offer photonic quantum computing systems and related services.</span></p> | |
CY2018Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2022 | us-gaap |
Revenues
Revenues
|
135648 | usd |
CY2022 | us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
38593700 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
|
17557368 | usd |
CY2022Q4 | us-gaap |
Other Additional Capital
OtherAdditionalCapital
|
957673 | usd |
CY2022Q4 | us-gaap |
Cumulative Earnings Deficit
CumulativeEarningsDeficit
|
119987781 | usd |
CY2022 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration:underline">Use of Estimates:</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These financial statements have been prepared in accordance with accounting principles generally accepted in the United States which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Some of the more significant estimates required to be made by management include the determination of reserves for accounts receivable, stockholders equity-based transactions and liquidity assessment .. Actual results may differ from these estimates.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2022Q4 | us-gaap |
Excess Stock Shares Issued
ExcessStockSharesIssued
|
5802206 | shares |
CY2022Q4 | us-gaap |
Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
|
0.0001 | |
CY2022Q1 | qubt |
Promissory Notes
PromissoryNotes
|
1250000 | usd |
CY2022Q1 | us-gaap |
Investment Sold Not Yet Purchased Balance Principal Amount
InvestmentSoldNotYetPurchasedBalancePrincipalAmount
|
1250000 | usd |
CY2022Q2 | us-gaap |
Investment Sold Not Yet Purchased Balance Principal Amount
InvestmentSoldNotYetPurchasedBalancePrincipalAmount
|
1250000 | usd |
CY2022Q2 | us-gaap |
Loans Assumed1
LoansAssumed1
|
2500000 | usd |
CY2022Q1 | us-gaap |
Investment Interest Rate
InvestmentInterestRate
|
0.06 | pure |
CY2022Q2 | us-gaap |
Investment Interest Rate
InvestmentInterestRate
|
0.15 | pure |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
3248495 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
22223725 | usd |
CY2022 | qubt |
Amortization Of Intangible Assets1
AmortizationOfIntangibleAssets1
|
3248495 | usd |
CY2021 | qubt |
Amortization Of Intangible Assets1
AmortizationOfIntangibleAssets1
|
0 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
5997222 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
5387847 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
2976389 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
1372222 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
1263889 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
5226156 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
22223725 | usd |
CY2022Q4 | qubt |
Intangible Assets Goodwill
IntangibleAssetsGoodwill
|
59125773.38 | usd |
CY2022 | us-gaap |
Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
|
59125773 | usd |
CY2022Q4 | us-gaap |
Goodwill
Goodwill
|
59125773 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
9703519 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
4823063 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
9703519 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
4823063 | usd |
CY2022Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
9703519 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
1045718 | usd |
CY2021Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
59717 | usd |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
70549 | usd |
CY2021Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
18369 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Owned Net
PropertyPlantAndEquipmentOwnedNet
|
975169 | usd |
CY2021Q4 | us-gaap |
Property Plant And Equipment Owned Net
PropertyPlantAndEquipmentOwnedNet
|
41348 | usd |
CY2022 | us-gaap |
Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
|
986002 | usd |
CY2022 | us-gaap |
Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
|
116315 | usd |
CY2022Q4 | qubt |
Property Plant And Equipment Collections Capitalized
PropertyPlantAndEquipmentCollectionsCapitalized
|
2500 | usd |
CY2020Q2 | us-gaap |
Loans Payable
LoansPayable
|
218371 | usd |
CY2021Q1 | us-gaap |
Repurchase Agreements Maturities
RepurchaseAgreementsMaturities
|
Under the Note Purchase Agreement, on March 1, 2021, March 23, 2021 and July 9, 2021, QPhoton and BV Advisory, a related party shareholder, entered into convertible promissory notes for $200,592, $150,000, and $150,000, respectively, for a total of $500,592 (the “BV Notes”). The BV Notes all bore interest at a rate of 6% per annum and matured 2 years from the grant date. However, QPhoton only received approximately $375,000 in cash proceeds as $125,041 was paid by BV Advisory directly to The Trustees of the Stevens Institute of Technology (“Stevens Institute”) on behalf of QPhoton, to satisfy QPhoton’s obligations to reimburse costs incurred under the terms of their patent License agreement with the Stevens Institute. | |
CY2022Q3 | us-gaap |
Repurchase Agreements Maturities
RepurchaseAgreementsMaturities
|
pursuant to which the Investor purchased an unsecured promissory note (the “Note” or the “Streeterville Unsecured Note”) in the initial principal amount of $8,250,000. The Note bears interest at 10% per annum. The maturity date of the Note is 18 months from the date of its issuance (the “Maturity Date”). The Note carries an original issue discount of $750,000, which is included in the principal balance of the Note. If the Company elects to prepay the Note prior to the Maturity Date, it must pay to Investor 120% of the portion of the Outstanding Balance the Company elects to prepay. | |
CY2022 | qubt |
Redemption Amount
RedemptionAmount
|
750000 | usd |
CY2022 | qubt |
Interest Rate Of Lesser
InterestRateOfLesser
|
0.15 | pure |
CY2021Q3 | us-gaap |
Common Stock Share Subscribed But Unissued Subscriptions Receivable
CommonStockShareSubscribedButUnissuedSubscriptionsReceivable
|
20000 | usd |
CY2021Q3 | us-gaap |
Excess Stock Shares Issued
ExcessStockSharesIssued
|
15000 | shares |
CY2021Q3 | us-gaap |
Excess Stock Shares Issued
ExcessStockSharesIssued
|
86113 | shares |
CY2021Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
|
5000 | shares |
CY2021Q2 | us-gaap |
Restricted Stock Shares Issued Net Of Shares For Tax Withholdings
RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings
|
91659 | shares |
CY2021Q2 | us-gaap |
Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
|
183318 | shares |
CY2021Q4 | qubt |
Convertible Preferred Stock Par Value
ConvertiblePreferredStockParValue
|
0.0001 | |
CY2022Q4 | us-gaap |
Percentage Of Debt Hedged By Interest Rate Derivatives
PercentageOfDebtHedgedByInterestRateDerivatives
|
0.10 | pure |
CY2022Q4 | us-gaap |
Preferred Stock Convertible Conversion Price
PreferredStockConvertibleConversionPrice
|
5.5 | |
CY2022 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
7 | |
CY2022Q2 | us-gaap |
Conversion Of Stock Description
ConversionOfStockDescription
|
one of the investors in the Series A Convertible Preferred financing round, Falcon Capital Partners, converted 45,455 shares of Series A Convertible Preferred stock into 47,728 shares of the Company’s Common Stock. | |
CY2022 | qubt |
Merger Agreement Description
MergerAgreementDescription
|
On October 11, 2022 the Company issued 155,000 shares of common stock to seven employees and consultants in exchange for services rendered. | |
CY2022Q4 | qubt |
Shares Available For Issue
SharesAvailableForIssue
|
3000000 | shares |
CY2022Q3 | us-gaap |
Excess Stock Shares Issued
ExcessStockSharesIssued
|
16000000 | shares |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y | |
CY2021 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y | |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
|
5196640 | shares |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
7.68 | |
CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P2Y6M | |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
6868267 | shares |
CY2022 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
2.38 | |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
2463670 | shares |
CY2022 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
3.26 | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
|
9601237 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
4.02 | |
CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
|
P2Y7M6D | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
6684833 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
4.22 | usd |
CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P3Y1M6D | |
CY2022Q4 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
|
9601237 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
6684833 | |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
2.38 | |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
7.3 | |
CY2022 | us-gaap |
Other Research And Development Expense
OtherResearchAndDevelopmentExpense
|
2758465 | usd |
CY2021 | us-gaap |
Other Research And Development Expense
OtherResearchAndDevelopmentExpense
|
6781898 | usd |
CY2022 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
15003002 | usd |
CY2021 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2619447 | usd |
CY2022 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
17761467 | usd |
CY2021 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
9401345 | usd |
CY2022 | qubt |
Common Stock Options
CommonStockOptions
|
7600000 | usd |
CY2022 | qubt |
Expected To Be Recognized Over A Period
ExpectedToBeRecognizedOverAPeriod
|
P2Y9M18D | |
CY2020Q3 | us-gaap |
Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
|
171000 | shares |
CY2020Q3 | us-gaap |
Warrant Exercise Price Increase
WarrantExercisePriceIncrease
|
2 | |
CY2021Q4 | us-gaap |
Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
|
1545459 | shares |
CY2021Q4 | us-gaap |
Warrant Exercise Price Increase
WarrantExercisePriceIncrease
|
7 | |
CY2022Q2 | us-gaap |
Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
|
6325503 | shares |
CY2022Q2 | us-gaap |
Warrant Exercise Price Increase
WarrantExercisePriceIncrease
|
0.0001 | |
CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
341952 | usd |
CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
332762 | usd |
CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
341081 | usd |
CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
349608 | usd |
CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
267092 | usd |
CY2022Q4 | qubt |
Imputed Interest
ImputedInterest
|
380239 | usd |
CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
1252254 | usd |
CY2022 | us-gaap |
Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
|
125238 | usd |
CY2021 | us-gaap |
Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
|
26519 | usd |
CY2022Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P4Y8M12D | |
CY2021Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P0Y9M18D | |
CY2022Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.10 | pure |
CY2021Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.10 | pure |
CY2022 | qubt |
Consideration Agreement Description
ConsiderationAgreementDescription
|
As consideration for the license and other rights granted under the agreement, QPhoton agreed to pay the following: (i) $35,000 within 30 days of execution of the agreement, (ii) $28,000 within 30 days of each annual anniversary of the effective date, (iii) equity in the Company equivalent to nine percent of the membership units of the Company within 30 days of the execution of the agreement, and (iv) royalties of 3.5% of the Net Sales Price of each licensed product sold or licensed by the company during the quarter then-ended, for which it also received payment, concurrent with the delivery of the relevant quarterly report. | |
CY2023Q1 | qubt |
Fee Paid
FeePaid
|
0.03 | pure |
CY2023Q1 | us-gaap |
Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
|
10000 | shares |
CY2023Q1 | us-gaap |
Preferred Stock Dividends Shares
PreferredStockDividendsShares
|
11096 | shares |
CY2021Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
usd | |
CY2021Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
usd | |
CY2021Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
usd | |
CY2021Q4 | us-gaap |
Goodwill
Goodwill
|
usd | |
CY2021Q4 | us-gaap |
Loans Payable Current
LoansPayableCurrent
|
usd | |
CY2022Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
usd | |
CY2021Q4 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
usd | |
CY2021Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
usd | |
CY2021Q4 | us-gaap |
Liabilities Noncurrent
LiabilitiesNoncurrent
|
usd | |
CY2021 | us-gaap |
Revenues
Revenues
|
usd | |
CY2022 | qubt |
Misc Income Government Grants
MiscIncomeGovernmentGrants
|
usd | |
CY2021 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
usd | |
CY2022 | qubt |
Interest Expense Warrants
InterestExpenseWarrants
|
usd | |
CY2022 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.69 | |
CY2022 | us-gaap |
Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
|
usd | |
CY2021 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
usd | |
CY2021 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
usd | |
CY2021 | qubt |
Increase Decrease In Preferred Dividends Payable
IncreaseDecreaseInPreferredDividendsPayable
|
usd | |
CY2021 | qubt |
Other Current Assets
OtherCurrentAssets
|
usd | |
CY2021 | us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
usd | |
CY2022 | qubt |
Proceeds Fromforgiveness Of Loans
ProceedsFromforgivenessOfLoans
|
usd | |
CY2021 | us-gaap |
Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
|
usd | |
CY2022 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
usd | |
CY2022 | us-gaap |
Interest Paid Net
InterestPaidNet
|
usd | |
CY2021 | us-gaap |
Interest Paid Net
InterestPaidNet
|
usd | |
CY2022 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
usd | |
CY2021 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
usd | |
CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
usd | |
CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
usd | |
CY2021Q4 | us-gaap |
Goodwill
Goodwill
|
usd | |
CY2020Q4 | us-gaap |
Goodwill
Goodwill
|
usd | |
CY2021 | us-gaap |
Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
|
usd | |
CY2022Q4 | us-gaap |
Goodwill Gross
GoodwillGross
|
usd | |
CY2021Q4 | us-gaap |
Goodwill Gross
GoodwillGross
|
usd | |
CY2021Q4 | us-gaap |
Goodwill
Goodwill
|
usd | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
usd | |
CY2021Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
usd | |
CY2022Q2 | us-gaap |
Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
|
53568.44 | usd |
CY2022 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
shares | |
CY2022 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
||
CY2022 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2022 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
CY2022 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001758009 |