Quantum Blockchain Technologies deeper dive accounting nerdery, nothing adds up, wholesale IFRS breaches

As I set out in my article yesterday the poor financial position of Quantum Blockchain Technologies (QBT) means that it is reliant upon future placings to stay afloat given its cash at June 30 of just E11,000 and an operating cash burn in the prior six months of E1,065,000.  Conventional debt from third parties isn’t possible because it has net liabilities of E6,426,000 which includes existing debt of E7,396,000.  So, a bucket shop placing is inevitable.

Quantum Blockchain Interims: how is this AIM posterboy company not classified as bust?

This old donkey should have been sent on a one way trip to the glue factory years ago. Half calendar year numbers came out on 28th September and were, as you might have predicted, dire.

GOTCHA!! Quantum Blockchain (QBT) forced to correct untrue RNS by @TomWinnifrith

Quantum Blockchain: that is why they call me mystic meg

On 18th August Quantum Blockchain (QBT) issued a spurious ramptastic release which I predicted was an attempted pump at 0.33p and that, running on vapours , a dump would follow. Sure enough…

Brace Brace: Pump and then dump on the way at Quantum Blockchain

Thanks to reader S I can tell you what the pump will be. Thanks to being able to do basic maths I can tell you about the dump that follows.

EXPOSE: Quantum Blockchain Technologies, accounting blunders and hidden monumental troughing by the boss

Quantum Blockchain Technologies (QBT) is the sort of company that gives AIM a bad name.  Quantum says that it is focused on proprietary research and development programme to improve the efficiency of Bitcoin mining through artificial intelligence, software and hardware-led innovations. Whatever. It will not surprise you that it operates in the jeux sans revenue space and always has and, IMHO, always will.

Quantum Blockchain- even its own Nomad seems to think its sums don't add up!

Okay it is not a material porky/ exercise in Diane Abbott maths but if you catch a company doing this once the odds are that it is doing it often and thus it becomes uninvestable. Thus also shows a remarkable degree of sloppiness by all concerned. I refer you to the RNS issued by Quantum Blockchain Technologies (QBT on April 15 this year.

Quantum Blockchain and its patent problems: a reader writes to AIM Regulation

A reader flags up that Quantum Blockchain (QBT) appears to be having a few problems with its patent applications in the US. My reading of the most recent setback, which Quantum has yet to respond to via RNS, is that the patent office seems to think that the IP has no distinictive features at all, it is essentially worthless. But maybe I do not really understand what is going on.

Quantum Blockchain Technologies (#QBT) – “Delivery of Bitcoin Mining Rig”, ramptastic!

Quantum Blockchain Technologies – after the pump…

On 20th October, stating it is developing “in the dynamic world of Blockchain Technology, which includes cryptocurrency mining and other advanced blockchain applications”, Quantum Blockchain Technologies (QBT) issued a “Market Update”-titled announcement on “its proprietary Method A and Method B software”. The shares subsequently rose from around 1p to 3p before falling back to a most recent close 1.8p and now another announcement – “Placing” (natch!).

Quantum Blockchain Technologies (#QBT) – £2m placing at 1.5p per share