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Share Name Share Symbol Market Type Share ISIN Share Description
Quantum Blockchain Technologies Plc LSE:QBT London Ordinary Share GB00B50P5B53 ORD 0.25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.025 -1.23% 2.00 1.95 2.05 2.025 2.00 2.03 3,231,650 09:18:36
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonequity Investment Instruments 0.0 -4.6 52.2 0.0 20

Quantum Blockchain Techn... Share Discussion Threads

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DateSubjectAuthorDiscuss
01/11/2022
14:38
Not really, at the end of the day they've won the case, probably going to get a quick payout to the tune of 320k euro (after they pay Sipiem their 30%) from the insurer and the claim only cost them 50k to acquire so that's not a bad ROI in my book. Anything else will be a bonus and lets not forget the Sosushi case is also due to be finalised in the next month or so.
flc
01/11/2022
14:34
not heard much about john story investor lately ..wonder if he's got anymore warrants to convert?
iceagefarmer
01/11/2022
13:05
As was so very predictable, a few dimwits spiked this morning. This was awful news IMO, with so little collectible from insurers. Will they ever see a penny more?
eezymunny
01/11/2022
12:04
Finish blue today ;0)
stumbleupon
01/11/2022
11:32
FG podcast.....

https://audioboom.com/posts/8185809-francesco-gardin-of-quantum-blockchain-court-ruling-orders-defendants-to-pay-6-2m

broomrigg
01/11/2022
10:37
Positive coverage on VOX today:

https://www.voxmarkets.co.uk/articles/quantum-blockchain-shares-jump-as-it-wins-6-2m-in-italian-court-ruling-0f28654

Quantum Blockchain shares jump as it wins €6.2m in Italian court ruling
Victor Parker
Victor Parker
Vox Newswire
10:16, 1st November 2022

Quantum Blockchain

QBT shares jumped 20% in London this morning after the company issued an update regarding its claim against Sipiem's previous board and internal audit committee. Sipiem was formally declared bankrupt in August 2022.

Quantum said a Venice Court had ruled in favour of CL17, Quantum's wholly-owned subsidiary, and ordered the defendants to pay €6.2m in damages plus €85K in legal expenses. The defendants have until 25 November to appeal, however the ruling is enforceable immediately.

Quantum will now begin the process of collecting the payment. However, given the size of the award and that only one of two insurers involved in the litigation was held responsible for damages (with a liability capped at c. €450K), there is currently no certainty on the exact amount or timing of award payment that will be collected, Quantum explained.

Quantum said CL17 will evaluate the defendants' assets available for seizure should voluntary payments not be forthcoming.

The Sipiem Claim was acquired by CL17 in 2019 for €50K plus 30% of any funds recovered, minus legal and other expenses borne by CL17, including applicable tax duties. Tax duties of c. 3% are payable on the amounts awarded by the Venice Court.

Francesco Gardin, CEO and Chairman of QBT, commented:

"While the process has taken a long time to reach this point, we are very pleased to have finally attained this outcome. We will now apply the same very determined and scrupulous approach to the collection of the sums due from the defendants."



View from Vox:

Markets' strong reaction to the news is justified given the time horizon of the case and amount awarded to Quantum. It has taken seven years of legal proceedings to obtain this result for Quantum, and the battle is not fully won as collection complications may arise.

Overall, this is a major financial win for the company which finished FY2022 with £1.3m in cash eq. Investors have reacted accordingly, sending QBT shares up 20% this morning.

Quantum Blockchain Technologies Plc
QBT.L
Quantum Blockchain Technologies Plc
GBX 1.500
0.125 (9.09%)
Last updated 10:03

Quantum Blockchain is now primarily focused on developing disruptive proprietary methods for BTC mining. The company's R&D efforts have been focused on building an optimised and efficient BTC miner. To that end, it has partnered with two independent entities to test the performance of its proprietary prototype ASIC miner (a hardware accelerated crypto miner).

Quantum's current plan is to produce a variety of working 12nm or 7nm-based ASIC prototypes in order to obtain data for future production of 5nm ASIC chips. 5nm lithography is the current state-of-the-art in semiconductor manufacturing, but is still significantly more expensive than the 7nm or 12nm processes.

Quantum has already produced an ASIC prototype that reduces the number of operations needed for Bitcoin mining by approximately 7%. Investments in R&D during 1H22 amounted to €347K, of which €111K has been invested in hardware equipment supporting R&D and €236K in costs related to cloud services and consultants.

Overall, technology investments carried out by Quantum's R&D programme are yielding positive results, now expected to accelerate with the additional funds granted by the court ruling

broomrigg
01/11/2022
08:30
mms trying to disguise buys...bargain of the decade here..gardin the maestro
iceagefarmer
01/11/2022
08:27
aminex looks a good buy despite falling 20%..game changing rns
iceagefarmer
01/11/2022
08:22
Do you think the BOD were stupid enough to think the money would land in the bank as soon as a ruling was made? Anyway, the bigger picture is the work they're doing on crypto so this latest news is just a bonus...move on
flc
01/11/2022
08:15
Hardly surprising daicaprice given the amount of ramping on lse.
244dk
01/11/2022
08:10
I think Eezymunny hit the nail on the head,

Great that they won, now the hard work starts.

The other side have had 7 years to transfer, spend, and hide their assets.

bandflex
01/11/2022
07:54
ALOT who are negative will be the first to buy at 8am..lol!
iceagefarmer
01/11/2022
07:51
Agree but you could argue the win has semi crystallised the asset subject of course to recovery. They get 70% of recovery and its more than likely the insurer will cough up quickly to get it off their books..that's c 350k imminently which is what QBT needs at the moment...cash in the bank.
flc
01/11/2022
07:44
I think you need to read this before you start buying or otherwise your going to get caught with your pants down..The Company will now start the process of collecting the Award Payment from the defendants. However, considering the size of the Award Payment and that only one of the two insurers involved in the litigation was held responsible for damages (with a liability capped at approximately €450,000.00, plus interest and adjustments for inflation) it is worth noting that there is currently no certainty on the exact amount of the Award Payment that will eventually be collected by the Company and the timing of receipt of any such funds. CL17 will, inter alia, evaluate the defendants' assets available to be seized should voluntary payments by the defendants not be forthcoming.
goforgold1
01/11/2022
07:40
their villas are worth loads more..shouldnt take long
iceagefarmer
01/11/2022
07:38
yes..just a reminder to follow the maestro...always in the know..check out qbt

iceagefarmer28 Oct '22 - 10:56 - 169 of 179 Edit
0 0 1
got back in today..sipiem court decision can drop anytime now..if you are out and its positive doubt you'll get in below 3p

iceagefarmer
01/11/2022
07:37
Is there news today?
a.fewbob
01/11/2022
07:37
if the money isn't forthcoming, seize the assets.
regandharry5
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