HOBOKEN, N.J., June 27, 2024 -- Quantum Computing Inc. ("QCi" or the "Company"), an innovative quantum optics and nanophotonics technology company, today announced that it received a notice (the "Notice") from Nasdaq Stock Market LLC ("Nasdaq") that the Company had failed to satisfy a standard for continued listing, Nasdaq Listing Rule 5250(c)(1), because the Company did not timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2024 (the "Form 10-Q") with the Securities and Exchange Commission (the "SEC").

The Notice states that the Company has until August 23, 2024 to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rules. If Nasdaq accepts the Company's plan, then Nasdaq may grant the Company up to 180 calendar days from the filing's due date, or until December 16, 2024, for filing the Form 10-Q to regain compliance. If the Company fails to timely regain compliance, the Company's ordinary shares will be subject to delisting from Nasdaq.

As previously reported, effective May 3, 2024, the Company dismissed BF Borgers CPA PC ("BF Borgers") as its independent registered public accounting firm, in parallel with an order by the SEC against BF Borgers, and effective June 6, 2024, appointed BPM LLP ("BPM") as the Company's independent registered public accounting firm. The Company plans to file its Form 10-Q as soon as practicable after completion of BPM's audit of the Company's consolidated financial statements for its 2023 fiscal year.