Annual reports

Fellow Shareholders,

I hope you are all well. It is hard to believe that a year ago we were coming out of the pandemic and looking forward to getting back to business. It has truly been an absolutely amazing and extraordinary year. Since my last letter we have:

• Up listed to NASDAQ,
• Released QAmplify, our enhancements to our Qatalyst platform that now amplifies the quantum effects of existing quantum computers by 5x – 20x of their qubit count,
• Continued to hire world class talent,
• Expanded our Board of Directors,
• Completed an additional funding of the company through the sale of preferred equity, and,
• Successfully completed the acquisition of QPhoton.

Last year, I stated that QCI’s committed vision is “to be the democratizing force that enables subject matter experts (SMEs) and end users to get critical answers to business problems right now, using the computing mix that best delivers those results.” We have not only remained committed to that vision but we have accelerated the achievement of delivering those results. The capstone to this extraordinary year was the acquisition of QPhoton. This enabled QCI to combine its deep expertise and experience in quantum computing with QPhoton’s research efforts to develop photonic based quantum systems. QCI has developed a room-temperature Entropy Quantum System (EQC) for solving real world business problems - TODAY. This is game changing because the computational capability surpasses anything available in the industry, but operates without all the costly and impractical infrastructure such as cryogenic cooling and specially environmentally engineered rooms to operate that do not scale.

QCI has evolved into a full stack Quantum Solutions Company offering customers the ability to run optimization problems in excess of 5000 variables (Qubits), on a room temperature, desk top quantum system.

We believe this achievement is something most other quantum hardware companies only hope to do in the next three to five years at a computational level and are likely never to achieve using gate model or other methods to achieve quantum results. QCI’s Entropy Quantum Computer, the quantum information processing system for solving real-world problems, is available now and this is only the beginning of our commercialization of quantum solutions.