Quantum X, Inc.

What they do

The legacy operating branch, Cuore Food Services, is described as the Company's wholesale food distribution business, using warehouse inventory and ad hoc purchases to make bulk deliveries to restaurants, hotels, and event hosting businesses in Canada. Cuore Food Services has generated no reported revenue in recent quarters. The Company incorporated Meridan Capital Management Inc. in Nevada in October 2025 to hold investments, which held cash and had no operations during fiscal 2025. It states it is shifting focus to becoming a technology company in artificial intelligence and quantum computing through products named Pegasus, Scalova, and EntangleX.

Revenue drivers

• Cuore Food Services (wholesale food distribution) — Wholesale bulk delivery of food goods to restaurants, hotels, and event planning businesses in Canada; this is the only described operating branch, but reported revenue has been $0 in each of the last four quarters.
• Meridan Capital Management Inc. — Nevada subsidiary incorporated October 15, 2025 for the purpose of holding investments; it held cash and had no operations during the year ended December 31, 2025.
• AI / quantum computing products (Pegasus, Scalova, EntangleX) — Stated future strategy targeting personal AI, enterprise automation, and compute frontier; no revenue, customers, or product launch detail is provided in the excerpts.
• Artisan denim and Pima cotton yarns venture with Videlia Mills — Announced January 2025; discussions ceased mid-2025 and the Company does not expect them to continue.

Recent performance

Annual revenue was $709,526 in 2024 and $0 in 2025, and recent quarterly revenue was $0 for each period from September 30, 2025 through June 30, 2026. Annual net loss narrowed from $2.4 million in 2024 to $484,854 in 2025. Operating cash flow used $807,887 in 2025 versus $250,503 in 2024. At June 30, 2026, total assets were $654,690, total liabilities $2.7 million, shareholder equity was negative $2.1 million, and cash was $40,108. Diluted EPS is reported as $0 for 2024 and 2025.

Strategy

Management states that in June 2025, after fully evaluating the legacy business, the Company began steps to reinvigorate it and establish a new pathway, and says it is now shifting focus to becoming a technology company in artificial intelligence and quantum computing. The stated AI strategy addresses personal AI, enterprise automation, and compute frontier economies through three products: Pegasus, Scalova, and EntangleX. The Company continues to evaluate opportunities inside and outside the food industry, including digital asset, fintech, and gig economy ventures. On June 30, 2026, stockholder consent authorized changing the corporate name to Quantum X, Inc., filed with Delaware on July 8, 2026, pending FINRA clearance. On July 7, 2026, the Company voluntarily delisted its common shares from the Canadian Securities Exchange; the stock continues to be quoted on OTC Markets under the symbol TWOH.

Risks

• No current revenue — Reported revenue was $0 in 2025 and $0 in each of the last four reported quarters, leaving no operating cash inflow to fund the stated technology pivot.
• Negative working capital and going-concern pressure — At June 30, 2026, total liabilities of $2.7 million exceeded total assets of $654,690, producing shareholder equity of negative $2.1 million and cash of only $40,108.
• Convertible instrument dilution — The Company excluded 1,556,192,009 shares issuable on conversion of non-redeemable convertible notes and convertible promissory notes at June 30, 2026 as anti-dilutive, up from 1,235,643,582 shares a year earlier.
• Unproven pivot and abandoned venture — The AI/quantum strategy (Pegasus, Scalova, EntangleX) and the Videlia Mills denim and Pima cotton yarn venture both lack demonstrated revenue, and the Videlia Mills discussions ceased mid-2025 with no expectation of continuing.

Outlook

Management says it is taking steps to reinvigorate the legacy business and establish a new pathway, while evaluating opportunities inside and outside the food industry, including digital asset, fintech, and gig economy spaces. It states it is shifting focus to becoming a technology company in artificial intelligence and quantum computing with three named products. The name change to Quantum X, Inc. is not effective until cleared by FINRA, and the shares no longer trade on the CSE but remain quoted on OTC Markets under TWOH.