Q/C TECHNOLOGIES, INC.
For the period ended Dec 31, 2024. Filed Apr 11, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Apr 11, 2025
QCLS$0.37+8.8%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
December 31, 2024 and 2023
| As of | ||
|---|---|---|
| December 31, 2024 | December 31, 2023 | |
| ASSETS | ||
| Current Assets | ||
| Cash and Cash Equivalents | $173,154 | $2,681,010 |
| Marketable Securities | 8,345,082 | 2,242,106 |
| Prepaid Expenses | 893,730 | 893,226 |
| Total Current Assets | 9,411,966 | 5,816,342 |
| Non-Current Assets | ||
| Operating Lease Right-of-Use Assets | 10,579 | 47,389 |
| Goodwill | 10,498,539 | 10,498,539 |
| Investment in Oravax, Inc. | 1,500,000 | 1,500,000 |
| Total Non-Current Assets | 12,009,118 | 12,045,928 |
| Total Assets | $21,421,084 | $17,862,270 |
| LIABILITIES | ||
| Current Liabilities | ||
| Trade and Other Payables | $2,902,104 | $3,716,218 |
| Due to MyMD Florida Shareholders | 29,982 | 29,982 |
| Operating Lease Liability | 10,579 | 48,870 |
| Derivative Liabilities | 1,303,000 | 61,000 |
| Warrant Liabilities | - | 867,000 |
| Dividends Payable | 2,455,675 | 265,019 |
| Total Current Liabilities | 6,701,340 | 4,988,089 |
| Non-Current Liabilities | ||
| Deferred Compensation Payable | - | 100,538 |
| Total Non-Current Liabilities | - | 100,538 |
| Total Liabilities | $6,701,340 | $5,088,627 |
| Commitments and Contingencies | - | |
| Mezzanine Equity | ||
| Series F Convertible Preferred Stock, 15,000 shares designated, par value $0.001 and a stated value of $1,000 per share, 4,211 and 6,633 shares issued and outstanding as of December 31, 2024 and December 31, 2023. Liquidation preference of $4,211,000 plus dividends at 10% per annum of $1,600,807 as of December 31, 2024 | 4,930,004 | 6,500,278 |
| Series F Convertible Preferred Stock – Discount | - | (4,702,023) |
| Series F Convertible Preferred Stock – Derivative | - | (1,394,184) |
| Series F-1 Convertible Preferred Stock, 5,050 shares designated, par value $0.001 and a stated value of $1,000 per share, 4,747 and 0 shares issued and outstanding as of December 31, 2024 and December 31, 2023. Liquidation preference of $4,747,000 plus dividends at 10% per annum of $295,836 as of December 31, 2024 | 4,744,101 | - |
| Series F-1 Convertible Preferred Stock – Discount | (4,744,101) | - |
| Series G Convertible Preferred Stock, 12,826,273 shares designated, par value $0.001 and a stated value of $1,000 per share, 8,884 and 0 shares issued and outstanding as of December 31, 2024 and December 31, 2023. Liquidation preference of $8,884,000 plus dividends at 10% per annum of $559,032 as of December 31, 2024 | 8,884,000 | - |
| Series G Convertible Preferred Stock – Discount | (8,884,000) | - |
| Total Mezzanine Equity | 4,930,004 | 404,071 |
| STOCKHOLDERS’ EQUITY | ||
| Preferred Stock, par value $0.001, 50,000,000 total preferred shares authorized | ||
| Series D Convertible Preferred Stock, 211,353 shares designated, $0.001 par value and a stated value of $0.01 per share, 72,992 shares issued and outstanding as of December 31, 2024 and December 31, 2023 | 144,524 | 144,524 |
| Common Stock, par value $0.001, 250,000,000 shares authorized, 3,363,603 and 2,018,857 shares issued and outstanding as of December 31, 2024 and December 31, 2023 | 3,364 | 2,019 |
| Additional Paid in Capital | 138,780,138 | 114,200,096 |
| Accumulated Deficit | (129,138,286) | (101,977,067) |
| Total Stockholders’ Equity | 9,789,740 | 12,369,572 |
| Total Liabilities and Stockholders’ Equity | $21,421,084 | $17,862,270 |
The accompanying notes are an integral part of these consolidated financial statements
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