QCI Working with Rabobank on Fraud Detection and also Sets Up a $25 Million At-the-Market Equity ...

Quantum Computing Inc. (QCI) announced that it will be working with Dutch multinational banking and financial services company Rabobank to demonstrate how their Dirac 1 photonic-based entropy quantum computer can be used for fraud detection. Fraud is a large problem in the financial sector and by using advanced computing techniques to monitor transaction and quick detect ones that are fraudulent could save the industry and consumers billions of dollars. By observing several parameters associated with the transaction including size, location, history, etc. clever algorithms can point out those transactions which have a high probability of being fraudulent. The goal will be to develop quantum based algorithms that are either more accurate or operate faster than ones currently being using with classical computing. QCI's press release announcing this project with Rabobank is available here.

In an unrelated development QCI has reached an agreement with Ascendiant Capital Markets, LLC to set up a $25 million At-the-market equity sales agreement. This will allow, but not require, the company to potentially sell up to $25 million in stock on a discretionary basis over time on terms that it can specify. Additional information about this agreement is available in a press release located on the QCI website here and also an 8-K filing on the SEC website here.

December 10, 2022