{
  "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": 46,
  "pageCount": 183,
  "prevPage": 45,
  "nextPage": 47,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 0,
  "notes": "The slide uses a 'CEO quote contradiction' framework to undermine management credibility.",
  "elementsJson": [
    "paragraph",
    "quote_block"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-1cc056790523/46",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-1cc056790523",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-1cc056790523.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-1cc056790523#slide-46",
  "components": [
    {
      "bbox": {
        "h": 0.35,
        "w": 0.9,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "paragraph",
      "text": "This buried disclosure occurred well after the machine was announced, making it obvious – we believe – that IonQ is now trying to create a legal out. Yet the effort is as inept as it is corrupt, as CEO Peter Chapman then quickly contradicted the disclosure on the Q3 2021 earnings call, claiming that the 32-qubit system is in fact available to customers and is being used by Goldman Sachs and Fidelity, echoing his statement in July 2021 that they “put our first customers onto the 32 in June…” We note that an updated prospectus was filed the same day as the Q3 earnings call, once again stating that “Our 32-qubit system...is not yet available to customers and may never be available” – emphasizing further that “independent verification by a third party” may “even never occur.”",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3a3a22bb-3f64-490a-856b-48adbcc11173",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.9,
        "x": 0.05,
        "y": 0.6
      },
      "kind": "quote",
      "text": "Hi, Ruben, happy to answer. So at the current time, we have two systems, which are servicing jobs out on the cloud for all three cloud partners and internal for our private cloud. And then there is an additional system which is the what we call the 32 qubit systems, which right now is in private beta. And we have customers and in fact, actually, Goldman Sachs and Fidelity, have been running jobs on that system as well as other customers.",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "19dfc889-b62b-4b9c-96c9-1896c5f79bda",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.8,
        "x": 0.05,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: https://seekingalpha.com/article/4469760-ionq-inc-class-ionq-ceo-peter-chapman-on-q3-2021-results-earnings-call-transcript; https://www.sec.gov/archives/edgar/data/1824920/000119312521330111/d262236d424b3.htm",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1d66a012-8a84-4a36-a5fc-a7dc7021dd91",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.2,
        "x": 0.05,
        "y": 0.55
      },
      "kind": "title",
      "text": "Peter Chapman",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "357ac1ea-34c9-4525-a1e8-d1bfb30e8e3f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.05,
        "y": 0.00495
      },
      "kind": "title",
      "text": "Excerpt of IonQ Q3 2021 earnings call transcript, Nov 15, 2021",
      "attrs": null,
      "subkind": "subtitle",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e16f9290-cb29-42fd-9114-aa0e1b9a3cb1",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "9a40e1bb-d834-42a2-b0fc-5e9de29a5e0f",
      "evidence": "Direct juxtaposition of SEC filing text and CEO earnings call transcript to prove inconsistency.",
      "confidence": 1
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}