Q/C Technologies, Inc. (formerly TNF Pharmaceuticals, Inc.) reported a significant financial performance shift in its latest 10-K filing for the fiscal year ending December 31, 2025. The company recorded a net loss attributable to common stockholders of $14.9 million, a 45% decrease from the previous year's loss of $27.2 million. Total operating expenses for 2025 were approximately $9.8 million, a slight decline of 3.6% compared to $10.2 million in 2024. The company has not generated any revenue from product sales, maintaining its pre-revenue status while focusing on its new business strategy centered on laser-based computing technology.
In terms of strategic developments, Q/C Technologies has transitioned from its legacy pharmaceutical business to focus on energy-efficient blockchain and cryptocurrency infrastructure through its proprietary quantum-class laser processing units (LPUs). The company acquired LPU Holdings LLC in September 2025, which is expected to enhance its capabilities in this new market. The qc-LPU100, the company's flagship product, aims to address complex computational problems and is targeted for applications in cryptocurrency and artificial intelligence. The company is currently engaged in prototype development and early-stage benchmarking of this technology.
Operationally, the company reported a total of 7,690,403 shares of common stock outstanding as of December 31, 2025, a significant increase from 33,636 shares in the previous year, reflecting its capital-raising efforts. The company also reported a cash balance of $987,000 and marketable securities totaling $14.8 million, indicating improved liquidity compared to the previous year. However, the company continues to face challenges, including the need for additional capital to fund ongoing operations and product development, as it has incurred substantial losses since its inception.
Looking ahead, Q/C Technologies anticipates that its expenses will increase as it advances the development and commercialization of its laser-based computing business. The company plans to generate revenue through hardware sales, leasing arrangements, and potential licensing agreements. However, it does not expect to generate significant revenue in the near term and will require substantial additional funding to support its operations and growth strategy. The company’s ability to continue as a going concern is contingent upon its success in increasing revenues and managing operating expenses effectively.
About TNF Pharmaceuticals, Inc.
TNF Pharmaceuticals is a clinical-stage biotech focused on extending healthy lifespan through developing therapies targeting autoimmune and age-related diseases. Its key platforms include Isomyosamine, an oral immunometabolic drug for autoimmune conditions and frailty, and Supera-CBD, a synthetic analog of CBD for neurological and pain disorders. The company advances innovative, well-defined drug candidates with potential safety advantages, aiming for regulatory approval and strategic commercialization.
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