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Piera Systems Selected by the Province of Ontario for its “Vape Detectors and Building Safety Initiative”

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Piera’s intelligent particle sensors with AI identify sources of indoor pollutants including vape, smoke

MISSISSAUGA, ON, Oct. 2, 2024 /CNW/ – Piera Systems Inc., today announces its Canāree IX6 Vape Detector with Noise Monitoring has been selected as a Vendor of Record (VOR) by Supply Ontario, for the Province of Ontario’s Initiative to reduce vaping in school buildings and other public spaces. 

Student vaping continues to grow with 13.4% of middle and high school students that vape daily (source: Ontario CAMH OSDUHS 2023 study).  While vaping can be less harmful than smoking, many vapes have much higher nicotine levels leading to lower impulse control, mood disorders, disrupting attention and learning, increasing the risk of future addiction to other drugs.

The Province of Ontario’s “Vape Detectors and Building Safety Initiative” provides funding to install vape detectors with noise monitoring to identify vaping and smoking incidents in seconds, alert school officials with location, time and duration information.  Simultaneously, sound level sensors identify loud, sustained noises indicating activities that require school staff attention. Sensors do not record sound or video ensuring privacy.

Canāree can also integrate to available video security systems, where location and time data can be used to determine if individuals or repeat offenders can be identified.  In addition, signage will indicate vape and smoke free zones so students can know when monitoring is in effect.  Devices are installed in tamper-proof locations and their status monitored continuously.

“Indoor air pollution has a significant impact on human health and productivity and our unique ability to identify vape and smoke accurately and quickly at an affordable cost was a key reason for our selection for this initiative,” said Vin Ratford, CEO of Piera Systems. “We are honoured to be selected as a supplier and applaud the provincial government for allocating funding to reduce indoor vaping, smoking, and the health impacts caused by secondhand smoke.”

Funding is available immediately to Ontario Public Service ministries including all Ontario schools. The deployment process will begin once vendors are selected by individual school districts. Additionally, other non-OPS entities, including public libraries, hospitals, universities, schools, etc. may choose to use the VOR. 

Canāree monitors are currently deployed worldwide in schools, hospitals, hotels, commercial and residential spaces to monitor air quality, classify pollutants, and provide alerts on vaping and smoking activity delivering significant health benefits. 

The Canāree Platform

The Canāree IX6 Vape Detector with Noise Monitoring is based on Piera System’s Canāree IX platform of AI-based intelligent Indoor Environment Monitors (IEM) that detect various gases and particulate aerosols in real-time, capable of identifying sources of pollution as well as providing feedback on mitigation steps to clean the air, reduce health risks, and other environmental factors that affect inhabitants like vape and smoke.

The base Canāree IX model, the IX6, includes as standard, Piera Systems’ own intelligent particle sensor, the IPS7100, volatile organic compounds (VOC), temperature, relative humidity, pressure, and noise sensors. The IX can be customized to include additional sensors such as CO2 (NDIR-based), CO, NO2, SO2, O2, O3, ammonia, and vibration detectors.

All Canāree models collect real-time air quality data locally and send that data to Piera’s SenseiAQ cloud for remote monitoring, analysis and alerting. SenseiAQ then displays the data on a dashboard including Air Quality Index (AQI) scores, color-coded to EPA/EEEC standards along with vape/smoke/AQ alerts. APIs are available to support third-party integrations such as video security systems, air quality management systems (AQMS), building management systems (BMS) and IoT device management.

Canāree was selected as a finalist in the AI/Machine Learning category of the 2024 Best of Sensors Awards for “Classifying Pollutants Using Industry’s Most Accurate Low-cost PM Sensor.”  The awards program presented by Sensors Converge and Fierce Electronics honors the best in sensor technologies and the sensor ecosystem, people and companies.

About Piera Systems, Inc.

Piera Systems Inc. (Mississauga, ON) mission is to make air quality measurement as accurate, simple, and pervasive as temperature, enabling a major improvement in the health of all humans. The IPS family of intelligent particulate matter sensors uses a custom, patented particle-counting microchip to determine particulate matter’s size, count, and mass. Then, by utilizing AI/ML techniques, Piera can identify pollution sources such as vape, smoke, cooking, construction dust, and more, either at the edge or in the cloud. Our SenseiAQ air quality monitoring platform monitors and alerts users to poor air quality and pollution events.

Headquartered in Canada, more information on Piera Systems’ air quality solutions can be found at https://www.pierasystems.com

About Supply Ontario

Supply Ontario is a crown operational agency of the Ontario government that leads and manages procurement-related work on behalf of the Ontario government. Its mandate is to strengthen supply chain management and procurement across the public sector, ensuring that Ontario ministries, provincial agencies, and broader public services such as hospitals, school boards, children’s aid societies, and more have access to high-quality, timely, reliable products at the best value.  The Vape Detectors and Building Safety Provisions (Tender 19788) will be used by the Ministry of Education and the Ministry of Public and Business Service Delivery and Procurement Service – Ontario and includes:

Vape Detectors (includes installation and maintenance services and related accessories)Building Safety Provisions of safety lighting, security cameras, motion sensors and signage (includes installation and maintenance services and related accessories as needed)

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SOURCE Piera Systems Inc.

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Hearing Notice – CIRO to Hold a Settlement Hearing for Desjardins Securities Inc.

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MONTRÉAL, Oct. 2, 2024 /CNW/ – A hearing has been scheduled before a hearing panel of the Canadian Investment Regulatory Organization (CIRO) pursuant to the Investment Dealer and Partially Consolidated Rules to consider a settlement agreement between CIRO Enforcement Staff and Desjardins Securities Inc.

The hearing will become open to the public in the event that the panel accepts the settlement agreement. If the settlement agreement is accepted, the panel’s decision and the settlement agreement will be made available at www.ciro.ca.

Settlement Hearing Date:    November 5, 2024 at 1:00 pm (Eastern Time)

Location:                                Montréal, Québec (by videoconference)

Members of the public who would like to obtain further particulars should fill out this questionnaire.

The Notice of Application announcing the settlement hearing is available at:

Desjardins Securities Inc. – Notice of Application

Desjardins Securities Inc. is CIRO-regulated investment dealer.

The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians’ trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.

All information about disciplinary proceedings relating to current and former member firms and individual registrants under the Investment Dealer and Partially Consolidated Rules (for investment dealers), the Mutual Fund Dealer Rules (for mutual fund dealers) and the Universal Market Integrity Rules (UMIR) is available on CIRO’s website

Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by CIRO-regulated investment firms is available free of charge through the AdvisorReport service. Information on how to make dealer, advisor or marketplace-related complaints is available by calling 1-877-442-4322.

CIRO investigates possible misconduct by its member firms and individual registrants. It can bring disciplinary proceedings which may result in sanctions including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.

SOURCE Canadian Investment Regulatory Organization (CIRO)

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Easy Ice Continues Growth with Pennsylvania Acquisition

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SCOTTSDALE, Ariz., Oct. 2, 2024 /PRNewswire/ — Easy Ice, the nation’s largest provider of commercial ice machine leases, has closed on another 2024 acquisition—this time, taking over the ice machine leasing operations of Credential Leasing & Finance in Harrisburg, Pennsylvania.

Credential Leasing & Finance has been in business since 1960, proudly operating as one of the oldest privately owned equipment leasing companies in the United States. As Easy Ice takes over the ice machine leasing portion of their business, Credential will continue to provide the personalized, solution-oriented leasing of other types of equipment to their customers that has made them so well known in the area.

This serves as another opportunity for Easy Ice to expand its operations in a key region—adding much more density to the DC, Baltimore, and Philadelphia markets.

“We are extremely excited to add growth to this area,” says Daren Boruff, Chief Acquisitions Officer at Easy Ice, “Integrating Credential’s operations into ours will be a huge step for Easy Ice in this region, allowing us to significantly expand our reach and give more businesses the superior service that Easy Ice offers. We look forward to more customers getting their ice the Easy Way!”

As with their past integrations, the transition for Credential Leasing & Finance’s ice machine leasing customers will be seamless as they join Easy Ice’s ever-growing base of customers across the United States.

About Easy Ice

Founded in 2009, Easy Ice has changed the way businesses manage their ice supply—moving them away from ice machine ownership and toward a managed leasing solution. With over 35,000 machines under their management across 47 states, they’ve made affordable ice machine leases available to customers all over the US. For more information, please visit www.easyice.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/easy-ice-continues-growth-with-pennsylvania-acquisition-302266108.html

SOURCE Easy Ice

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Quantum Computing Inc. Reports Second Quarter and First Half 2024 Financial Results

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HOBOKEN, N.J., Oct. 2, 2024 /PRNewswire/ — Quantum Computing Inc. (“QCi” or the “Company”) (Nasdaq: QUBT), an innovative, integrated photonics and quantum optics technology company, today released financial results for the three- and six-month periods ended June 30, 2024, which contain restated financial results for the quarterly periods ended June 30, 2023.

Dr William McGann, Chief Executive Officer of QCi, commented, “During the first half of 2024, we strengthened our position in the quantum computing landscape. Our progress on establishing our U.S.-based Thin Film Lithium Niobate (TFLN) foundry is proceeding well, marking a critical step toward positioning QCi as a leader in the growing optical chip market. Our partnerships continued to evolve, highlighted by our successful product sale to Johns Hopkins University and ongoing collaboration with NASA. I’m also pleased to announce that with the filing of these financial results, we have taken key steps to regain compliance with Nasdaq and are now caught up with our Securities and Exchange Commission (SEC) reporting requirements. Like some other companies that experienced delays due to forced auditor transitions, we’ve navigated this process effectively while ensuring adherence to best practices. We are now well-positioned to continue advancing our mission.”

Second Quarter 2024 Financial Highlights:

Second quarter 2024 revenues totaled approximately $183,000 (32% gross margin) compared to $112,000 (54% gross margin) generated in the second quarter 2023. The increase in revenues was due to increased contractual sales. The decrease in gross margin was nearly entirely the result of revenue in the current period being primarily comprised of customized research and development as compared to consulting services revenue in the prior period.Second quarter 2024 operating expenses totaled $5.3 million compared to the previous year’s second quarter operating expenses of $7.0 million. The 24% period-over-period decrease is primarily a result of the Company’s disciplined strategy to minimize general and administrative expenses as well as net reductions in stock-based compensation.The Company reported a net loss available to common stockholders of $5.2 million, or $(0.06) per basic share for the second quarter of 2024, compared to a net loss available to common stockholders of $7.6 million or $(0.12) per basic share for the same period of the previous year.Total assets at June 30, 2024 were $76.0 million, increasing from $74.4 million at December 31, 2023. Cash and cash equivalents at June 30, 2024 increased $0.5 million from year-end 2023 to $2.5 million. Subsequent to the close of the quarter, the Company raised net proceeds of $7.0 million in a secured convertible debt financing.Total liabilities at June 30, 2024 were $3.6 million, a decrease of approximately $2.1 million compared to year-end 2023, driven primarily by the Company’s monthly repayment of its unsecured debt, which was paid in full in the first quarter of 2024, and sizable reduction in accrued expenses reflecting the issuance of restricted stock grants.As of June 30, 2024, the Company had shareholders’ equity totaling $65.5 million.

Second Quarter 2024 Operational Highlights

Successful Quantum LiDAR Prototype Sale: QCi executed the sale of a quantum LiDAR prototype to Johns Hopkins University for $200,000. This sale marked a significant advancement in underwater LiDAR technology and showcases the commercial potential of QCi’s quantum solutions across diverse applications.Enhanced Sales Strategy: QCi appointed Richard Nelson as Senior Vice President of Business Development and Pouya Dianet as Director of TFLN Optical Chip Sales to accelerate market penetration and expand global sales of QCi’s quantum technologies.TFLN Foundry Progress: The Company continues to advance its strategic initiative to establish the first U.S.-based TFLN fabrication facility in Tempe, Arizona, a key element of QCi’s long-term strategy to become a leader in the optical chip market, and to secure offtake agreements for future chip sales from the foundry.Subsequent to the Quarter: In line with the Company’s initiative to expand its partnerships with government agencies and laboratories, QCi announced the extension of its Cooperative Research and Development Agreement (CRADA) with the Los Alamos National Laboratory (LANL). This strategic collaborative agreement focuses on QCi’s new entropy quantum optimization machine, Dirac-3, and its capabilities to quickly and efficiently solve highly complex problems associated with quantum simulations, social networks, protein structure prediction, and telecommunications.

Additionally, the Company filed with the SEC its Form 10-Q for the quarterly period ending March 31, 2024, which contains restated financial results for the three-month period ended March 31, 2023. As previously disclosed, following the entry of a cease-and-desist order by the SEC against the Company’s former auditor, BF Borgers CPA PC, the Company engaged a new independent registered public accounting firm, BPM LLP, to reaudit 2023 and 2022 financial results and the quarterly financial results released today.  While the auditor transition was the primary reason for the delay in our March 31, 2024 and June 30, 2024, quarterly filings, we do not expect any further delays going forward.

Quantum Computing Inc. (QCi) (Nasdaq: QUBT) is an innovative, integrated photonics company that provides accessible and affordable quantum machines to the world today. QCi products are designed to operate at room temperature and low power at an affordable cost. The Company’s portfolio of core technology and products offer unique capabilities in the areas of high-performance computing, artificial intelligence and cybersecurity as well as remote sensing applications.

QUANTUM COMPUTING INC.

Condensed Consolidated Balance Sheets

(Unaudited, in thousands, except par value data)

 

June 30,

December 31,

2024

2023

  Assets

  Current assets

     Cash and cash equivalents

$

2,526

$

2,059

     Accounts receivable

56

65

     Inventory

266

73

     Loans receivable, net of provision for credit losses of $295 and $279

295

279

     Prepaid expenses and other current assets

272

180

Total current assets

3,415

2,656

Property and equipment, net

5,387

2,870

Operating lease right-of-use assets

923

1,051

Intangible assets, net

10,524

12,076

Goodwill

55,573

55,573

Other non-current assets

133

129

Total assets

$

75,955

$

74,355

Liabilities and Stockholders’ Equity

Current liabilities

       Accounts payable

$

1,672

$

1,462

       Accrued expenses

327

639

       Financial liabilities, net of issuance costs

1,925

       Deferred revenue

104

       Other current liabilities

790

786

Total current liabilities

2,893

4,812

Operating lease liabilities

708

840

Total liabilities

3,601

5,652

Contingencies (see Note 10)

Mezzanine equity

6,829

Stockholders’ equity

     Preferred stock, $0.0001 par value, 1,550 shares Series A Preferred authorized; 1,241  

          and 1,490 shares issued and outstanding as of June 30, 2024 and December 31,

          2023, respectively; 3,080 shares of Series B Preferred Stock authorized; no shares

          issued and outstanding as of June 30, 2024 and December 31, 2023

     Common stock, $0.0001 par value, 250,000 shares authorized; 94,416 and 77,451  

          shares issued and outstanding as of June 30, 2024 and December 31, 2023,

          respectively

9

8

     Additional paid-in capital

209,086

200,635

     Accumulated deficit

(143,570)

(131,940)

Total stockholders’ equity

65,525

68,703

Total liabilities and mezzanine and stockholders’ equity

$

75,955

$

74,355

 

QUANTUM COMPUTING INC.

Condensed Consolidated Statements of Operations

(Unaudited, in thousands, except per share data)

Three Months Ended

Six Months Ended

June 30,

June 30,

2024

2023

2024

2023

(Restated)

(Restated)

Total revenue

$

183

$

112

$

210

$

233

Cost of revenue

125

51

141

107

Gross profit

58

61

69

126

Research and development

2,094

2,466

4,315

4,650

Sales and marketing

429

385

880

812

General and administrative

2,802

4,168

6,459

7,718

Operating expenses

5,325

7,019

11,654

13,180

Loss from operations

(5,267)

(6,958)

(11,585)

(13,054)

Non-operating income (expense)

Interest and other income

73

61

110

93

Interest expense, net

(537)

(155)

(963)

Change in value of warrant liability

17

370

Loss before income tax provision

(5,194)

(7,417)

(11,630)

(13,554)

Income tax provision

Net loss

(5,194)

(7,417)

(11,630)

(13,554)

Less: Series A convertible preferred stock dividends

(215)

(431)

Net loss available to common stockholders

$

(5,194)

$

(7,632)

$

(11,630)

$

(13,985)

Loss per share – basic and diluted

$

(0.06)

$

(0.12)

$

(0.13)

$

(0.23)

Weighted average shares used in computing net loss per 

common share – basic and dilutive

93,550

62,667

87,185

60,832

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/quantum-computing-inc-reports-second-quarter-and-first-half-2024-financial-results-302266104.html

SOURCE Quantum Computing Inc.

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