LEESBURG, Va., July 11, 2018 (GLOBE NEWSWIRE) — Quantum Computing, Inc. (Formerly Innovative Beverage”), (OTC:QUBT) today announced FINRA’s formal approval to change its name to Quantum Computing Inc. (“QCI” or the “Company”) and its 200:1 reverse stock split (the “Reverse Stock Split”), effective July 3, 2018. FINRA also approved the trading symbol change to “QUBT” effective 20 business days from July 3rd. The Company’s common stock will continue to trade as IBGHD under OTC until the effective date of the symbol change. The name change reflects the Company’s previously announced shift in business focus to quantum technology and computing.
In connection with this shift in strategic direction, the Company launched the website www.quantumcomputinginc.com. The Reverse Stock Split resulted in a reduction of the approximately 188 million outstanding shares of the Company’s common stock to approximately 943,482 shares of the Company’s common stock issued against a total authorized amount of 250,000,000.
“We are excited to get our corporate reorganization completed,” stated Bob Liscouski, Quantum Computing Inc. Chief Executive Officer. “The Quantum Computing Inc. name change reflects our core business focus on this exciting new field of computing. We have hired a very talented and experienced technical team led by Dr. Richard Malinowski and we are building our human and financial resources to meet the expected demand as this market matures, particularly in the financial and security industries,” he added.
QCI is developing processes to commercialize quantum computing and application services. Quantum computers are expected to be faster, more powerful and capable of solving problems that existing computers and applications cannot. Technology industry experts estimate the potential market for this new technology could be in excess of $10 billion and anticipate quantum computing breakthroughs in finance, cyber security and medicine.
About Quantum Computing Inc.
Quantum Computing Inc. (“QCI”) is developing processes to commercialize quantum computing and application services. QCI has assembled a team of experts in super computing and security who are designing a quantum annealing computer capable of simulating the capabilities of a quantum computer. For more information about QCI, please visit www.quantumcomputinginc.com
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There can be no assurance that our actual results will not differ materially from expectations and other factors more fully described in our public filings with the U.S. Securities and Exchange Commission, which can be reviewed at www.sec.gov.
Contact: Quantum Computing Inc. Company Contact: Investor Relations Info@quantumcomputinginc.com