Item
1.01 Entry into a Material Definitive Agreement.
Quad
M Solutions, Inc., an Idaho corporation, (“MMMM” or the “Company”), is a public holding company that offers self-funded
health plans, staffing services, HR-human resources, payroll services, retirement, supplemental and workers compensation insurance to
small and mid-sized group employers with 1-500 employees, and to the exploding essential worker “Gig Economy,” a labor market
that is characterized by the prevalence of short-term contracts or freelance work, not permanent jobs. On January 19, 2022, the Company
announced that it had executed a Memorandum of Understanding with Quantum Computing Inc. (“QCI”) (Nasdaq:QUBT) to develop
and deliver a quantum solution for improving the efficiency of the MMMM’s self-underwritten medical insurance.
In
its January 19, 2022, release, MMMM reported that it projected to have tens of thousands of covered employees utilizing its medical benefits
solutions through its principal operating subsidiary, Nuaxess2, Inc. (“NuAxess”), in 2022 and further announced that it will
collaborate with QCI in designing a quantum solution utilizing its over 100,000 person and growing database of medical records.
To
date and like all medical insurance companies and other self-insured entities, MMMM has used a standard medical questionnaire to underwrite
its covered employees but now intends to use QCI’s Qatalyst™ ready-to-run quantum software to MMMM to generate
a quantum-ready classical computing solution in the short term, which it believes should enable MMMM to factor in multiple variables
that had never been considered or utilized to lower its underwriting costs.
On
February 15, 2022, the Company entered into a definitive Services Agreement with QCI, a copy of which is attached as Exhibit 10.12 to
this Form 8-K (the “Services Agreement”), pursuant to which QCI will provide NuAxess and the other MMMM Subsidiaries with
enhanced analytic capabilities by improving, among other things, the accuracy in identifying whether its covered employees should be
assigned into a high-risk pool or not, in order to be able to quote insurance rates and plans based upon a more full understanding of
the likely costs for potential member employers and their covered employees.
With
QCI’s Qatalyst software to bridge the power of classical and quantum computing, the Company believes that QCI will facilitate MMMM’s
ability to solve complex computational problems which should give us a potentially significant technologically competitive advantage
in the staffing solutions industry and insurance underwriting.
The
Company intends to market this product, when fully operational, to other self-insured corporations and medical insurance companies, which
should provide the Company with entry into a potential multi-billion-dollar market. Quad M Solutions Inc. will pay Quantum Computing
Inc. between 5-10 dollars per employee per month for the services provided by QCI.
About
Quad M Solutions, Inc.
Quad
M Solutions Inc. (OTC: MMMM) is a public holding company that offers self-funded health plans, staffing services, HR-human resources,
payroll services, retirement, supplemental and workers compensation insurance to small and mid-sized group employers with 1-500 employees,
and to the exploding essential worker “Gig Economy,” a labor market that is characterized by the prevalence of short-term
contracts or freelance work, not permanent jobs. Our Company’s four subsidiaries, NuAxess 2, Inc., PrimeAxess, Inc., OpenAxess,
Inc. and PrimeAxess 2, LLC are important in conveying who we are and what we do.
We
strive to provide those employers and individuals the right tools to be able to manage and control all the facets in their healthcare
experience and their eventual health outcomes. Prevention, wellness, and cures have become part of our corporate mission to individuals
who want to manage and control their short and long-term healthcare needs.
Our
self-insured programs are consumer-driven and technology-leveraged and, by itself, self-insurance is affordable, transparent and responsive
to the healthcare and retirement needs of employees who are looking for higher quality benefits, integrated health information and better
medical provider access and outcomes.
About
Quantum Computing Inc.
Quantum Computing Inc. (Nasdaq: QUBT) is focused on accelerating the value of quantum computing for real-world business solutions. QCI’s
flagship product, Qatalyst, is the first software to bridge the power of classical and quantum computing, hiding complexity and empowering
SMEs to solve complex computational problems today. QCI’s expert team in finance, computing, security, mathematics and physics
has over a century of experience with complex technologies; from leading edge supercomputing innovations to massively parallel programming,
to the security that protects nations. Connect with QCI on LinkedIn and @QciQuantum on Twitter. For more information about
QCI, visit www.quantumcomputinginc.com.