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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Quantum Computing Inc.    QUBT

QUANTUM COMPUTING INC.

(QUBT)
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QCI Appoints Former Boeing Executive, James B. Davis, to Technical Advisory Board

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08/25/2020 | 08:36am EDT

LEESBURG, Va., Aug. 25, 2020 (GLOBE NEWSWIRE) -- Quantum Computing Inc. (OTCQB: QUBT) (QCI), a technology leader in quantum-ready applications and tools, has appointed former Boeing vice president and manufacturing operations expert, James B. Davis, to its technical advisory board. 

Davis brings to the board more than 30 years of experience in aerospace industrial engineering and manufacturing, with 20 years in executive roles of director level and above at The Boeing Company, serving in its Commercial Aircraft and Space & Defense business segments.

As vice president of Boeing’s 737 manufacturing operations, he led the industrial engineering, materials management (supply chain) and manufacturing teams responsible for the production of 42 aircraft per month, including the P-8 version of the 737 for the U.S. Navy and global government customers.

"Jim’s extensive experience in manufacturing and supply chain logistics will help advance our go-to-market strategy for applying quantum computing solutions to these key areas of our global economy,” commented QCI CEO, Robert Liscouski. “The knowledge and skills he acquired during his many years at Boeing will enable us to better understand high value optimization problems involved in these areas, and also how to best present our software capabilities as large industrial manufacturers look to quantum computing to solve some of their most challenging operational problems.”

According to a recent article published on Yahoo! Finance that featured QCI, major corporations like Google, Microsoft, IBM, Alibaba and others are investing hundreds of millions of dollars to create quantum hardware that can be accessed by business enterprises via the cloud. However, users need the tools to develop the software and run their quantum applications. QCI’s Mukai™ quantum-ready software platform enables companies to migrate their existing applications to quantum-ready solutions today and realize superior performance, even when running them on classical (Intel® or AMD processor-based) computers.

“I’m fortunate to join QCI at this very exciting time as it begins the commercial launch of Mukai,” said Davis. “Commercial and government investment in quantum computing continues to gain momentum, as industrial manufacturers discover that adopting quantum technologies could help them maintain a competitive edge. Mukai enables companies like Boeing and others to leverage the power of quantum technologies with its best-in-class performance.”

While the airline industry has been impacted by COVID-19 in the near term, the Department of Defense has not skipped a beat when it comes to investing in quantum computing and spending on the manufacturing of military equipment that could benefit from it. With other countries, particularly China, investing billions in quantum technologies, the U.S. recognizes it must make similar investments to assure national security.

“Given my experience with manufacturing at Boeing, I believe there could also be significant cost savings generated through quantum-powered optimization,” added Davis. “I’m looking forward to helping QCI deliver on the great promise of this advanced computing technology.”

Davis earned his Bachelor of Arts in Finance from Ohio State University, Fisher College of Business, and his Global Executive MBA from Duke University, Fuqua School of Business.

About Quantum Computing Inc.
Quantum Computing Inc. (QCI) is focused on developing novel applications and solutions utilizing quantum and quantum-ready computing techniques to solve difficult problems in various industries. The company is leveraging its team of experts in finance, computing, security, mathematics and physics to develop commercial applications for industries and government agencies that will need quantum computing power to solve their most challenging problems. For more information about QCI, visit www.quantumcomputinginc.com

Important Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. Those statements include statements regarding the intent, belief or current expectations of Quantum Computing (“Company”), and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

The Company undertakes no obligation to update or revise forward-looking statements to reflect changed conditions. Statements in this press release that are not descriptions of historical facts are forward-looking statements relating to future events, and as such all forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," “aim to”, or variations of these or similar words, identify forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in the Company’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in the Company’s filings with the SEC.

Mukai™ is a trademark of Quantum Computing Inc.

Company Contact
Robert Liscouski, CEO
Tel (703) 436-2161
info@quantumcomputinginc.com

Investor & Media Relations Contact
Ron Both or Grant Stude
CMA Investor Relations
Tel (949) 432-7566
Email Contact

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© GlobeNewswire 2020

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Financials (USD)
Sales 2019 - - -
Net income 2019 -8,38 M - -
Net Debt 2019 1,51 M - -
P/E ratio 2019 -2,64x
Yield 2019 -
Capitalization 69,2 M 69,2 M -
EV / Sales 2018 -
EV / Sales 2019 -
Nbr of Employees 7
Free-Float 48,2%
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Managers
NameTitle
Robert P. Liscouski Chairman, President & Chief Executive Officer
Christopher B. Roberts Chief Financial Officer & Director
Michael Booth Chief Technology Officer
Bertrand Velge Independent Director
Justin Schreiber Independent Director
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