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$0.35-6.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| For the Years Ended December 31, | ||||
|---|---|---|---|---|
| 2024 · 2023 | ||||
| Cash flows from operating activities: | ||||
| Net loss from ongoing operations | $(23,359,334) | $(3,999,950) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||
| Gain on sale of marketable securities | (976) | (416) | ||
| Change in fair value of marketable securities | (671) | (514) | ||
| Change in fair value of derivatives | 388,000 | (3,088,800) | ||
| Change in fair value of warrants | 4,410,000 | (9,756,000) | ||
| Loss on issuance of Series F-1 Convertible Preferred Stock | 3,737,000 | - | ||
| Loss on issuance of Series G Convertible Preferred Stock | 5,109,000 | - | ||
| Stock based compensation: | ||||
| Options issued to directors | 476,563 | 944,834 | ||
| Options issued to key employees | 507,390 | 1,962,138 | ||
| Options issued to non-employees | 73,318 | 142,565 | ||
| Shares issued for services | 600,000 | - | ||
| Change in assets and liabilities | ||||
| Prepaid expenses | (504) | (327,439) | ||
| Trade and other payables | (814,114) | 1,042,997 | ||
| Operating leases | (1,481) | (578) | ||
| Deferred compensation payable | (100,538) | 100,538 | ||
| Net cash used by operating activities | (8,976,347) | (12,980,625) | ||
| Cash flows from investing activities: | ||||
| Purchases of marketable securities | (12,851,809) | (13,454,304) | ||
| Proceeds from sale of marketable securities | 6,750,480 | 15,300,030 | ||
| Net cash (used in)/provided by investing activities | (6,101,329) | 1,845,726 | ||
| Cash flows from financing activities | ||||
| Net proceeds from the issuance of Series F Convertible Preferred Stock | - | 14,685,689 | ||
| Net proceeds from the issuance of Series F-1 Convertible Preferred Stock | 5,050,000 | - | ||
| Net proceeds from the issuance of Series G Convertible Preferred Stock | 8,950,000 | - | ||
| Redemption of Convertible Preferred Stock | (73,472) | (89,635) | ||
| Dividend on Convertible Preferred Stock | (1,356,708) | (1,452,145) | ||
| Premium on Convertible Preferred Stock | - | (77,090) | ||
| Net cash provided by financing activities | 12,569,820 | 13,066,819 | ||
| Net increase/(decrease) in cash and cash equivalents | (2,507,856) | 1,931,920 | ||
| Cash and cash equivalents at beginning of year | 2,681,010 | 749,090 | ||
| Cash and cash equivalents at end of year | $173,154 | $2,681,010 | ||
| Supplemental cash flow information | ||||
| Cash paid for: | ||||
| Interest | $ | - | $ | - |
| Income Taxes | $ | - | $ | - |
| Supplemental Schedule of Non-Cash Financing and Investing Activities | ||||
| Initial fair value of warrant liabilities pursuant to the issuance of Series F Convertible Preferred Stock and Warrants | $ | - | $10,623,000 | |
| Initial fair value of derivative liabilities pursuant to the issuance of Series F Convertible Preferred Stock and Warrants | $ | - | $3,149,000 | |
| Initial fair value of warrant liabilities pursuant to the issuance of Series F-1 Convertible Preferred Stock and Warrants | $7,933,000 | $ | - | |
| Initial fair value of derivative liabilities pursuant to the issuance of Series F-1 Convertible Preferred Stock and Warrants | $854,000 | $ | - | |
| Initial fair value of warrant liabilities pursuant to the issuance of Series G Convertible Preferred Stock and Warrants | $14,059,000 | $ | - | |
| Reclass of warrant liability to equity upon warrant modification for the Series F Warrants | $7,961,000 | $ | - | |
| Reclass of warrant liability to equity upon warrant modification for the Series F-1 Warrants | $6,965,000 | $ | - | |
| Reclass of warrant liability to equity upon warrant modification for the Series G Warrants | $12,343,000 | $ | - | |
| Modification of Series F Convertible Preferred Stock | $4,673,735 | $ | - | |
The accompanying notes are an integral part to these consolidated financial statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.