Quantum Blockchain Technologies Plc (LON:QBT) today announced its unaudited interim results for the six months ended 30 June 2022.

The Group reported a total comprehensive loss for the period to 30 June 2022 of €2.8 million (30 June 2021: loss €1.1m). The operating loss for the period was €2.1 million (30 June 2021: operating loss €714,000).

At 30 June 2022, the Group net liabilities had improved to €2.1 million, compared to net liabilities of €2.8 million at 31 December 2021. As a result of the extension of the maturity dates of the Company’s bonds, net current assets of the Group also improved during the period under review, to €6 million, compared to net current liabilities of €3.8 million at 31 December 2021.

On 16 August 2022, the Company announced that Mr Reginald Eccles, independent Non-Executive Director of the Company had passed away. As a result, the Company had only one remaining director and was therefore not able to meet its obligations under the Companies Act and trading in the Company’s shares on AIM was temporarily suspended.

Trading was restored on 12 September when the Company announced the appointment of Mr Peter Fuhrman as independent Non-Executive Director. The Company has committed to appoint a further non-executive director to its board within the next three months.

Peter Fuhrman has extensive experience in high-technology, semiconductors, finance, and investment industries. Currently, he is chairman and chief executive of China First Capital which advises on and invests in the technology sector with expertise, inter alia, in China’s semiconductor industry, advanced manufacturing, robotics, precision automation, nano-positioning and photonics. He is also a strategic adviser on advanced technologies and market expansion to the board and chairman of one of China’s largest listed high-technology manufacturing companies and to one of Germany’s largest semiconductor technology companies.

Peter Fuhrman was previously CEO of Los Angeles based Awareness Technologies, a cloud-based enterprise security software company (which he successfully sold in 2008) and Head of Europe for the publisher, Forbes Inc.