Quantum Cyber (QUCY) Registration Filing summary

Company overview and business model

• Develops and markets in-vitro diagnostic (IVD) tests for early cancer detection, focusing on colorectal and pancreatic cancers.

• Flagship product, ColoAlert, is CE-IVD certified and sold in Europe; next-generation mRNA-based CRC test in development for US/EU launch.

• Business model centers on distributing IVD kits to third-party labs; R&D efforts target expanding the product portfolio.

• Recent strategic realignment focuses on European ColoAlert business, next-gen product development, and US clinical validation.

Financial performance and metrics

• Six months ended June 30, 2024: revenues $520,773, gross profit $319,038, operating loss $(9,807,328), net loss $(11,023,762).

• Year ended December 31, 2023: revenues $895,479, net loss $(26,800,221).

• Cash as of June 30, 2024: $977,764; working deficit $(7,624,241).

• Substantial doubt about ability to continue as a going concern per auditor's note.

Use of proceeds and capital allocation

• Estimated net proceeds of $7,125,000 to be used for the eAArly Detect 2 study, next-gen screening product development, ColoAlert commercial expansion, repayment of convertible debt, and general corporate purposes.

• $420,000 to be paid on convertible debenture at or after closing, with subsequent $100,000 monthly payments starting January 2025.