Two Hands Corporation Reports $2.2 Million Net Loss and Strategic Shift to Quantum X, Inc.

Two Hands Corporation reported significant financial challenges in its latest 10-Q filing for the quarter ending June 30, 2026. The company recorded a net loss of $2.2 million for the quarter, a substantial increase from a loss of $336,318 in the same period last year. For the first half of 2026, the net loss reached $2.25 million, compared to $666,750 for the first half of 2025. The company did not generate any revenue during these periods, highlighting ongoing operational difficulties.

Total operating expenses surged to $2.08 million for the second quarter of 2026, up from $207,602 in the prior year, primarily driven by increased consulting fees, stock-based compensation, and professional fees. The company’s cash position deteriorated significantly, with cash decreasing to $40,108 from $227,585 at the end of the previous fiscal year. Current liabilities also rose to $2.74 million, up from $2.26 million at the end of 2025, contributing to a working capital deficiency of $2.45 million.

Strategically, Two Hands Corporation is pivoting towards technology, particularly in artificial intelligence and quantum computing. The company has initiated a name change to Quantum X, Inc., which was approved by shareholders and filed with the Delaware Secretary of State. This rebranding reflects a shift in focus from its previous grocery delivery services to a technology-centric business model. The company has also delisted its shares from the Canadian Securities Exchange, now trading on the OTC Markets under the symbol “TWOH.”

Operationally, the company has made significant changes, including the cancellation of its grocery delivery applications and a focus on its wholesale food distribution branch, Cuore Food Services. The company is also in the process of developing new products under its AI strategy, which includes offerings like Pegasus, Scalova, and EntangleX. However, the company faces substantial challenges, including a stockholder deficit of $2.09 million and an accumulated deficit of $97.26 million, raising doubts about its ability to continue as a going concern.

Looking ahead, Two Hands Corporation plans to secure additional capital to fund its operations and implement its business strategy. The company is currently relying on cash advances from its CEO and is exploring private loans and equity lines of credit. However, there are no guarantees that it will successfully raise the necessary funds, which could impact its operational viability. The company anticipates needing approximately $300,000 in cash over the next year to cover operational costs, legal fees, and other expenses.