{ "docId": "019dd923-622c-750b-8b9a-1cc056790523", "docSlug": "340e94a59fc0", "documentTitle": "IonQ Inc. (IONQ)", "authorId": "58_Scorpion_Capital", "authorName": "Scorpion Capital", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-03 00:00:00", "orientation": "landscape", "aspectRatio": 1.2941177, "pageNumber": 160, "pageCount": 183, "prevPage": 159, "nextPage": 161, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 1, "notes": "The slide uses a Q&A transcript format to highlight a discrepancy between company claims and expert testimony.", "elementsJson": [ "paragraph", "quote_block" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-1cc056790523/160", "deckHref": "/decks/019dd923-622c-750b-8b9a-1cc056790523", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-1cc056790523.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-1cc056790523#slide-160", "components": [ { "bbox": null, "kind": "callout", "text": "Although the purported UMD Q-Lab already appears to be IonQ’s key source of revenue and bookings, he indicated the lab remains in the planning stages and is not operational.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd952-f5d2-7501-bd87-f4512fe9c6f9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.35 }, "kind": "list", "text": "UMD professor indicated that the National Quantum Lab is still in the planning stages and not operational", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f917c3bd-aa6d-4ab0-a43d-ceecf93f9f36", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.08 }, "kind": "paragraph", "text": "To corroborate these allegations, we also spoke with a professor at the University of Maryland – a peer and colleague of IonQ co-founder Chris Monroe who is closely involved with UMD’s quantum computing initiatives. Although the purported UMD Q-Lab already appears to be IonQ’s key source of revenue and bookings, he indicated the lab remains in the planning stages and is not operational; that it was premature for UMD staff to purchase IonQ compute time; that it had no structure; and appeared unaware of the most basic details of the $20MM venture – despite his leadership role in UMD’s quantum computing initiatives.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2faa73c4-f287-436e-ac4c-9354c9149b9f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.5, "w": 0.9, "x": 0.05, "y": 0.4 }, "kind": "paragraph", "text": "Q: “What’s the status of the National Quantum Lab? Is it up and running?”\nA: “No, it’s being planned out now. We haven’t yet had the first oversight committee meeting. That’ll be happening in the spring...I think, so we’re in this buildup phase. So, no, it’s not yet a thing where people can show up and do work”\nQ: “Is there a website for it that I can look at?”\nA: “I don’t know. Things are under development; maybe, I could look that up...”\nQ: “Who’s the head of it? Who’s running it? Are professors running it? Is IonQ going to run it? How is it structured?”\nA: “There’s going to be a working group that will run it across the two. I don’t recall who’s the chariot. We haven’t met yet, I think these next six months will be the period when the buildup will happen.”\nQ: “Do you even know how it’s going to work? It says this is all designed to give access to UMD faculty and students access to IonQ’s machines. Are you guys almost like a grant-making body where you allocate that compute time?”\nA: “Right, what I believe we’re going to do once we start meeting is figuring those things out. My guess - because we haven’t met - so, we’ll probably be creating some protocols and methods...”\nQ: “Does it have a pretty sizable advisory board or board of directors? Is that structure still in discussion?”\nA: “What I know is I’ve been asked to serve, and when we first meet, I will get to know the other people. I expect I will know many of them because I know the community. But I don’t know that yet.”\nQ: “Would it surprise you, given the early stages that the Q-Lab is in, that IonQ has already booked $4 million in revenue from this lab? That’s what’s in their filings.”\nA: “Yeah. I don’t know the inside details of that.” – Professor at UMD involved in quantum computing", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4fbd6e98-afce-42c8-bd20-25b9276fc40b", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“No, it’s being planned out now. We haven’t yet had the first oversight committee meeting. That’ll be happening in the spring...I think, so we’re in this buildup phase. So, no, it’s not yet a thing where people can show up and do work” — UMD Professor", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd952-f5d2-7501-bd87-f9b96589234d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.05, "y": 0.95 }, "kind": "source-note", "text": "Source: Scorpion Capital consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6b5dbf0e-5b0e-4c7b-9d91-72a78de90d0a", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "fraud-exposure", "slug": null, "matchId": "c7f79c29-f23e-4dd0-81dc-fd5f24a35f8b", "evidence": "The slide explicitly contrasts company financial filings with expert testimony to expose a potential contradiction.", "confidence": 0.9 } ], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }