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Quantum Blockchain Technologies (QBT) has announced a reduced operating loss of €1.1 million in its annual results for the year ending December 31 2020, a €0.3 million improvement from 2019.
Francesco Gardin, executive chairman of QBT, said: 2020 was, as for many companies, a challenging year and yet the focus of the Company, to preserve the stability of its operations and investments, should be seen as a success by shareholders.
The company also reports that it has favourably settles a Mediapolis court claim for €1.5 million and that its Sipiem legal claim is approaching its conclusion, with a valuation of €7.8 million, to be paid out should the result be in favour of Clear Leisure 2017 ltd.
Net Current Assets stand at €4.9 million, compared to €2.4 million in 2019. Our commitment to return value to shareholders was strengthened in the year by favourable results in certain legal cases, but mostly by the groundwork we have laid in positioning the Company squarely within the quantum computing, blockchain and cryptocurrencies sectors, adds Gardin.