Quantum Numbers Corp Announces Third Party Valuation of its QRNG Technology Indicating an Upper Prediction Value of $3.435 Billion USD
Montreal, Quebec – April 29, 2021 – Quantum Numbers Corp. (TSXV: QNC); (OTC: QNCCF); (FSE: 34Q) (“QNC” or the “Corporation”) announced today it received a third-party valuation of the intellectual property that has been developed around its Quantum Random Number Generator (QRNG) technology.
QNC has developed the next generation of cryptographic QRNG solutions that is based on electron quantum tunnelling, a purely quantum effect that guarantees complete randomness. It also has the capacity to deliver >1 Gigabits per second (“Gbps”) of full-entropy random numbers and is versatile enough to be embedded in a portable USB-type key or a microprocessor chip. QNC has several core patents that have been registered in the Canada, USA and internationally.
With the arrival of its new CEO, QNC thought relevant to commission a valuation analysis of its technology portfolio by an independent, third party specialized research firm, Inside Quantum Technology (IQT). IQT firm performed an analysis of the uses of the technology, the sales it could achieve in its targeted end-markets and expected margins if QNC can complete its development plan successfully and the market adopts the QNC’s technology.
Using the Monte Carlo valuation calculation and based on technical information provided to it by the Company, IQT has estimated that QNC technology portfolio could be worth as much as approximately $2,5 billion USD as a mean value. This worth is derived from a range of values; the median prediction being $2,504 million USD, while the upper 95% prediction and lower 95% prediction were reported at $3,435 million USD and $1,580 million USD, respectively.
Francis Bellido, CEO, comments, “The Monte Carlo simulation technique is a powerful computerized valuation method that combines quantitative analysis and decision making to account for the uncertainty and complexity inherent in the valuation process. For QNC it is a great tool to assess the possible outcomes in modelling the intrinsic valuation of its technology. We are obviously very pleased with the results of the valuation analysis provided by IQT and it confirms the tremendous economic potential of our QRNG technology in addressing cybersecurity needs in several significant markets such as Medical Devices, Datacenters, Blockchain technologies, Financial Services, Cloud-Based IT Security Infrastructure, Gaming and Military.“
IQT is American business research firm and the first one to be entirely dedicated to meeting the strategic information and analysis needs of the emerging quantum technology sector. The company provides published reports on most of the important revenue opportunities in quantum technology including quantum computer markets and software, quantum key encryption, post-quantum encryption, quantum sensors, and on important verticals such as the military, the financial sector, big pharma, etc.
It is important to note that a third-party valuation is not an indication of interest by any party, nor does it represent an actual offer to purchase the intellectual property. As indicated in the report, the QRNG Technology is still under development, and no assurances can be given that such development will be successfully completed, that the technology will be brought to commercial realization or that the Company’s target markets will adopt this technology.
The fair market value estimate in the appraisal report does not necessarily reflect the actual price that QNC could realize from a true sale of its technology in a real market. Rather, the valuation reflects the notional value of the technology in an assumed market.
The Corporation’s mission is to address the growing demand for affordable hardware security for connected devices. The patented solution for a Quantum Random Number Generator exploits the built-in unpredictability of quantum mechanics and promises to provide enhanced security for protecting high value assets and critical systems.
The Corporation intends to target the highly valued Healthcare Services industry while ensuring its technology is also relevant and applicable to others, such as Financial Services, Cloud-Based IT Security Infrastructure, Classified Government Networks and Communication Systems, Secure Device Keying (IOT, Automotive, Consumer Electronics) and Quantum Cryptography.
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Corporation’s periodic reports including the annual report or in the filings made by Quantum from time to time with securities regulatory authorities.