RE: Trades like a raise is coming20 Nov 2025 10:17
The 'deals /partnerships' prospects held out earlier this year look to have gone the way of 'revenue by Y/E 2024'. In this field, if the parties supposedly testing the product have not been convinced that it works and signed up for it within 6 months of agreieng to participate in a practical demonstration, it is difficult to believe that they ever will. If that is right, the failed demonstrations this year will merely discourage future prospective customers /partners from spending time and money assessing the viability of QBT's products in future.
The recent QBT 'software' teaser looks to be empty too. If it was ready to go, just plug it in to existing mining kit, it will presumably have been demonstrated along with the other kit prospective customers supposedly tested in practical demonstrations. Every day which passes without an announcement of sales of that materially adds to the suspicion that it is far from 'oven ready', and that Gardin 's optimism far outruns reality. How many years is it since Gardin announced that QBT was in a position to roll out its products commercially, and Vlad was taken on to head up marketing?
A simple calculation shows the length of the remaining cash runway. a further capital raise cannot be long delayed. The market will surely note QBT's failure to commercialise its research and products and the stalled patent applications, and question why QBT has failed to find a partner to put in funds if Gardin's assertions over the past three years had substance. All the indications are that the next capital raise will have to be at a deeply discounted price, and that the longer it is delayed, the deeper the discount will be.