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Qumu Corporation (Symbol: QCLS)

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Major Customers of Q/C Technologies (QCLS)

Please note: Q/C Technologies (symbol: QCLS) does not appear to be an actively traded public company with readily available information regarding its business operations or major customers. The ticker symbol QCLS does not correspond to a prominent or identifiable public company in current financial databases.

Therefore, based on the name "Q/C Technologies," we will proceed with a hypothetical scenario. A company with "Quality Control Technologies" in its name would most likely operate in a Business-to-Business (B2B) model, providing specialized services, software, or hardware solutions to other companies rather than directly to individuals. These solutions would typically focus on quality assurance, data integrity, process optimization, or compliance within various industries.

Assuming this B2B model, here are hypothetical major customer companies, representative of the types of clients Q/C Technologies would likely serve, along with their assumed public symbols:

• Global Manufacturing & Industrial Corporations: These companies would utilize Q/C Technologies' solutions for stringent quality control across their production lines, supply chain management, defect detection, and ensuring product reliability.
  • Hypothetical Customer: Universal Innovations Group (Symbol: UIG)
  • Hypothetical Customer: Apex Industrial Solutions (Symbol: AIS)
• Enterprise Software & Cloud Service Providers: Technology firms would integrate Q/C Technologies' offerings for robust software quality assurance, data validation, cybersecurity compliance, and maintaining the integrity and reliability of their extensive cloud platforms and applications.
  • Hypothetical Customer: Innovate Cloud Systems (Symbol: ICLS)
  • Hypothetical Customer: SecureData Platforms Inc. (Symbol: SDPI)
• Pharmaceutical & Biotechnology Research Firms: Companies in the life sciences sector would rely on Q/C Technologies for critical quality control in drug discovery, clinical trial data validation, manufacturing process oversight, and adherence to strict regulatory standards (e.g., FDA, EMA).
  • Hypothetical Customer: BioGenix Pharmaceuticals (Symbol: BGPX)
  • Hypothetical Customer: MediTech Innovations Corp. (Symbol: MTIC)

Joshua Silverman, Executive Chairman

Joshua Silverman serves as the Executive Chairman of Q/C Technologies. He is also the Co-Founder and Managing Member of Parkfield Funding LLC, established in 2016. Previously, he was a Principal and Managing Partner of Iroquois Capital Management, LLC, an investment advisory firm he co-founded. From 2003 to 2016, Mr. Silverman served as Co-Chief Investment Officer of Iroquois Capital, where he was involved in designing and executing complex transactions, structuring and negotiating investments in both public and private companies. His experience at Iroquois Capital, which managed funds with investors including high net-worth individuals, family offices, pension plans, and other institutional investors, suggests a pattern of involvement with companies backed by investment firms, including private equity. From 2000 to 2003, he was the Co-Chief Investment Officer of Vertical Ventures, LLC, a merchant bank. Mr. Silverman currently holds several other executive and board positions, including interim Chief Executive Officer, President, and Director of PharmaCyte Biotech, Inc. (since 2022), Executive Chairman & Chief Executive Officer at StableX Technologies, Inc. (since 2020), Chairman at Neurotrope, Inc. (since 2016), Executive Chairman at TAO Synergies, Inc. (since 2016), and Chairman at Petros Pharmaceuticals, Inc. (since 2020). Earlier in his career, he served as Assistant Press Secretary to The President of The United States. He earned his B.A. from Lehigh University in 1992.

Gary Rauch, Vice President of Finance

Gary Rauch holds the position of Vice President of Finance at Q/C Technologies. A detailed background for Mr. Rauch was not readily available in the provided search results.

Dr. Steven Frankel, Senior Quantum Advisor

Dr. Steven Frankel was appointed as Senior Quantum Advisor for Q/C Technologies on October 16, 2025. In this role, Dr. Frankel guides the company's efforts in quantum-class photonic computing to advance the development and commercialization of Q/C’s Laser Processing Unit (LPU). He is the Rosenblatt Professor of Mechanical Engineering at the Technion – Israel Institute of Technology. Before joining Technion, he served as a professor at Purdue University for over three decades. His extensive research encompasses computational fluid dynamics, turbulence, combustion, and multiphase systems, with a recent focus on machine learning and quantum computing hardware. Dr. Frankel also contributed to projects involving superconducting qubits, trapped ions, and physics-informed neural networks during a research fellowship at Quantum Machines in Tel Aviv.

Mitchell Glass, Chief Medical Officer and Director

Mitchell Glass serves as the Chief Medical Officer and a Director at Q/C Technologies. Dr. Glass possesses a 35-year career in life sciences, marked by multiple drug approvals including Accolate®, Avandia®, and Coreg®. His biopharmaceutical leadership experience includes executing successful early- to mid-stage clinical development and regulatory strategies, and guiding numerous companies to market entry and commercialization. He is board-certified in internal medicine, pulmonary, and critical care medicine, with a specialization in inflammatory diseases and immunopathology. His career has involved broad executive roles at major pharmaceutical companies, as well as founding, leading, and funding startups and early-stage biopharma companies. Dr. Glass is also a founder and principal of Medpro Investors, a New York-based venture capital firm focused on the healthcare sector. He has a significant track record in navigating FDA regulatory pathways and has contributed to 5 new drug applications (NDAs), 7 pre-NDA meetings, 12 End of Phase 2 (EOP2) meetings with the FDA, and over 80 investigational new drug applications (INDs).

The key risks to Q/C Technologies (QCLS) business are primarily related to its recent strategic pivot into quantum-class photonic computing and its financial stability.

1. Technology Commercialization and Dependency on Licensing: Q/C Technologies has transitioned its core business to focus on "quantum-class photonic computing" for cryptocurrency applications, relying on an exclusive licensing agreement with LightSolver for its laser processing units (LPUs). The fundamental risk is that the underlying technology may not work at scale, and its commercial viability is speculative and high-risk. The company is entirely dependent on LightSolver; if LightSolver's technology fails, the license is revoked (e.g., if LightSolver is acquired by a competitor who discontinues the crypto license), or LightSolver goes bankrupt, QCLS would be left with no core business.
2. Financial Health, Profitability Challenges, and Dilution Risk: The company has reported net losses, a 100% decline in revenue over the past five years, and negative income from ongoing operations. Despite a modest equity buffer and no long-term debt, QCLS has experienced substantial shareholder dilution in the past year and has needed to pursue financing options that could adversely affect its liabilities. Recent approvals for increasing shares available for equity awards and a reverse stock split further indicate ongoing financial challenges and the potential for continued shareholder dilution.
3. Market Volatility and Competition in a Nascent and Speculative Industry: Q/C Technologies operates in the rapidly evolving and highly speculative fields of quantum-class computing and cryptocurrency infrastructure. This "very high beta market" exposes the company to significant share price volatility. Furthermore, the company faces increasing levels of competition within this sector.

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Q/C Technologies (symbol: QCLS) is a company that has recently shifted its strategic focus. Originally identified as a clinical-stage pharmaceutical company, it underwent a name change in September 2025 to reflect its new direction. Q/C Technologies now specializes in building blockchain infrastructure using quantum-inspired laser-based processing units (LPUs) for high-speed photonic computing and cryptocurrency applications.

Based on this updated focus, the addressable markets for Q/C Technologies' main products and services can be identified within the following categories:

Photonic Computing Market

The global photonic computing market, which aligns with Q/C Technologies' laser-based processing units, was valued at an estimated USD 1.2 billion in 2024. It is projected to reach USD 14.8 billion by 2033, demonstrating a robust Compound Annual Growth Rate (CAGR) of 32.7%.

More specifically, the global photonic integrated circuit (PIC) market, which encompasses key components for optical computing and is relevant to quantum computing, was valued at USD 14.51 billion in 2024. This market is expected to grow to USD 65.69 billion by 2032, with a CAGR of 20.9%.

Blockchain Infrastructure Market

Q/C Technologies' involvement in building blockchain infrastructure positions it within a rapidly expanding market. The global blockchain technology market was estimated at USD 31.28 billion in 2024 and is projected to surge to USD 1,431.54 billion by 2030, exhibiting a significant CAGR of 90.1% from 2025 to 2030. Another source projects the blockchain market size to reach USD 57.7 billion by 2025 and to further grow to USD 1.4 trillion by 2030.

Focusing on the "Blockchain In Infrastructure" segment, the market is projected to grow from USD 21.72 billion in 2024 to USD 278.75 billion by 2035, at a CAGR of 26.11% from 2025 to 2035.

High-Performance Computing (HPC) Market

As Q/C Technologies' laser processing units aim to offer improved performance for compute-intensive problems, they also address a segment of the broader high-performance computing (HPC) market. The global High-Performance Computing market was valued at approximately USD 55.79 billion in 2024. Projections indicate this market is expected to reach around USD 83.3 billion by 2030, with a CAGR of 7.23%, and could surpass USD 142.85 billion by 2037, growing at a CAGR of around 7.5%. North America currently holds a significant share of this market.

Q/C Technologies (symbol: QCLS) is expected to drive future revenue growth over the next 2-3 years through several key strategic initiatives, primarily stemming from its recent pivot to quantum-class computing technology. Formerly TNF Pharmaceuticals, Inc., the company officially transitioned to Q/C Technologies and began trading under the QCLS ticker on Nasdaq on September 25, 2025, signaling a complete shift in its business focus.

The expected drivers of future revenue growth for Q/C Technologies include:

1. Expansion into the Quantum-Class Computing Market: The company's strategic reorientation from pharmaceuticals to quantum-class computing technology is the fundamental driver for future revenue. This move positions Q/C Technologies to tap into the growing demand for advanced computing solutions.
2. Leveraging LightSolver's Laser Processing Unit (LPU) Technology: Q/C Technologies holds exclusive global rights to LightSolver's laser processing unit (LPU) technology. This proprietary technology is central to their new business model and is expected to be a significant contributor to revenue as it is developed and deployed.
3. Penetration into Cryptocurrency Verticals: A specific application area for LightSolver's LPU technology mentioned by the company is within cryptocurrency verticals. The ability to offer energy-efficient, quantum-class, high-performance computing infrastructure for cryptocurrency applications presents a targeted revenue growth opportunity.
4. Development and Commercialization of Energy-Efficient, High-Performance Computing Infrastructure: Q/C Technologies aims to develop "energy-efficient quantum class, high-performance computing infrastructure" that can address compute-intensive problems at high speeds. The successful development and commercialization of these solutions will be crucial for sustained revenue growth.

Share Repurchases

• As of December 30, 2024, Q/C Technologies reported proceeds from repurchase of equity amounting to -$73K.

Share Issuance

• In September 2025, Q/C Technologies (then TNF Pharmaceuticals) raised $7 million through a private placement of 7,000 shares of convertible preferred stock at $1,000 per share.
• In October 2025, Q/C Technologies amended securities agreements to allow for the issuance of common stock under its approved stock plan, up to 15% of the sum of current outstanding shares and shares issuable from certain preferred stock conversions.
• In October 2025, Q/C Technologies entered a consulting agreement, granting warrants to purchase up to 400,000 shares of common stock to consultants at prices ranging from $5.00 to $10.00 per share.

Inbound Investments

• In September 2025, the company secured $7 million through a private placement of convertible preferred stock, with its largest strategic stockholder leading the financing.

Outbound Investments

• Q/C Technologies secured exclusive global rights to LightSolver's laser processing unit (LPU) technology for cryptocurrency applications, marking a strategic pivot into quantum-class computing as announced in September 2025.

Capital Expenditures

• The company made a strategic pivot in September 2025, focusing on pioneering energy-efficient quantum-class, high-performance computing infrastructure.