Quantum Computing restates 2022-2023 financials; prior statements no longer reliable

Quantum Computing Inc.

Re-audit by BPM LLP found errors in purchase accounting, Series A dividends, debt/equity costs, notes receivable, and operating expenses.
Estimated 2023 net loss increases by ~$1M; 2022 net loss decreases by ~$8M.
Assets decline by ~$4M (2023) and ~$11M (2022); stockholders' equity down ~$4M and ~$10M, respectively.
Cash balances are unaffected by the restatements; filing of amended 10-K/A expected in coming weeks.
Prior auditor BF Borgers was subject to an SEC cease-and-desist order, triggering the re-audit.

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