# EDGAR Filing Document

**Accession Number:** 0001758009
**File Stem:** 0001213900-23-001402
**Filing Date:** 2023-1
**Character Count:** 30074
**Document Hash:** b837215ecbeebec758a5aa5cb07f1c36
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-23-001402.hdr.sgml**: 20230106

**ACCESSION NUMBER**: 0001213900-23-001402

**CONFORMED SUBMISSION TYPE**: S-3/A

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20230106

**DATE AS OF CHANGE**: 20230106

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Quantum Computing Inc.
- **CENTRAL INDEX KEY:** 0001758009
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **IRS NUMBER:** 824533053
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-3/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-269063
- **FILM NUMBER:** 23515470

**BUSINESS ADDRESS:**
- **STREET 1:** 215 DEPOT COURT SE, #215
- **CITY:** LEESBURG
- **STATE:** VA
- **ZIP:** 20175
- **BUSINESS PHONE:** 703-436-2161

**MAIL ADDRESS:**
- **STREET 1:** 215 DEPOT COURT SE, #215
- **CITY:** LEESBURG
- **STATE:** VA
- **ZIP:** 20175

**As filed with the Securities and Exchange Commission on January 6, 2023**

**Registration No. 333-269063**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-3/A**

**(AMENDMENT NO. 1)**

**REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933**

**QUANTUM COMPUTING INC.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **82-4533053** |
| (State or other jurisdiction of<br> incorporation or organization) | (I.R.S. Employer<br> Identification Number) |

---

**215 Depot Court SE, Suite 215**

**Leesburg, VA 20175**

**<u>(703) 436-2121</u>**

(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)

**Robert Liscouski**

**215 Depot Court SE, Suite 215**

**Leesburg, VA 20175**

**<u>(703) 436-2121</u>**

(Name, address, including zip code, and telephone number, including area code, of agent for service)

***Copies to:***

**Joseph M. Lucosky, Esq.**

**Lawrence Metelitsa, Esq.**

**Lucosky Brookman LLP**

**101 Wood Avenue South, 5th Floor**

**Iselin, NJ 08830**

**(732) 395-4400**

**APPROXIMATE DATE OF COMMENCEMENT OF PROPOSED SALE TO THE PUBLIC:** From time to time after the effective date of this registration statement.

If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. ☐

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box. ☒

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective on filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box. ☐

If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer" "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☐

**The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the registration statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.**

EXPLANATORY NOTE

Quantum Computing Inc. is filing this Pre-Effective Amendment No. 1 (the "Amendment") to its Registration Statement on Form S-3 (Registration No. 333-269063) (the "Registration Statement") as an exhibits-only filing to file Exhibit 5.1. Accordingly, this Amendment consists only of the facing page, this explanatory note, Part II of the Registration Statement, including the signature page and the exhibit index, and the filed exhibits. The prospectus is unchanged and has been omitted.

**PART II**

**INFORMATION NOT REQUIRED IN PROSPECTUS**

**Item 14. Other Expenses of Issuance and Distribution.**

The following is an estimate of the expenses (all of which are to be paid by the registrant) that we may incur in connection with the securities being registered hereby.

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| | |
|:---|:---|
| SEC registration fee | $3630.10 |
| Legal fees and expenses | $25000 |
| Accounting fees and expenses | 11000 |
| Total | $39630.10 |

---

\* Estimated

**Item 15. Indemnification of Directors and Officers.**

Section 102(b)(7) of the Delaware General Corporation Law permits a corporation to provide in its certificate of incorporation that a director of the corporation shall not be personally liable to the corporation or its shareholders for monetary damages for breach of fiduciary duty as a director, except for liability (i) for any breach of the director's duty of loyalty to the corporation or its shareholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) for unlawful payments of dividends or unlawful stock repurchases, redemptions or other distributions, or (iv) for any transaction from which the director derived an improper personal benefit.

Section 145 of the Delaware General Corporation Law provides that a corporation may indemnify directors and officers as well as other employees and individuals against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with any threatened, pending or completed actions, suits or proceedings in which such person is made a party by reason of such person being or having been a director, officer, employee or agent to the corporation. The Delaware General Corporation Law provides that Section 145 is not exclusive of other rights to which those seeking indemnification may be entitled under any bylaw, agreement, vote of shareholders or disinterested directors or otherwise. Our bylaws provide for indemnification by us of our directors, officers and employees to the fullest extent permitted by the Delaware General Corporation Law.

Insofar as indemnification for liabilities arising under the Securities Act may be provided for directors, officers, employees, agents or persons controlling an issuer pursuant to the foregoing provisions, the opinion of the SEC is that such indemnification is against public policy as expressed in the Securities Act, and is therefore unenforceable. In the event that a claim for indemnification by such director, officer or controlling person of us in the successful defense of any action, suit or proceeding is asserted by such director, officer or controlling person in connection with the securities being offered, we will, unless in the opinion of our counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by us is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

Subject to the operation of Section 4 of Article V of the Company's By-laws, each Director and Officer shall be indemnified and held harmless by the Company to the fullest extent authorized by the DGCL, as the same exists or may hereafter be amended (but, in the case of any such amendment, only to the extent that such amendment permits the Corporation to provide broader indemnification rights than such law permitted the Company to provide prior to such amendment) against any and all expenses, judgments, penalties, fines and amounts reasonably paid in settlement that are incurred by such Director or Officer or on such Director's or Officer's behalf in connection with any threatened, pending or completed Proceeding or any claim, issue or matter therein, which such Director or Officer is, or is threatened to be made, a party to or participant in by reason of such Director's or Officer's Corporate Status, if such Director or Officer acted in good faith and in a manner such Director or Officer reasonably believed to be in or not opposed to the best interests of the Corporation and, with respect to any criminal proceeding, had no reasonable cause to believe his or her conduct was unlawful.

No pending material litigation or proceeding involving our directors, executive officers, employees or other agents as to which indemnification is being sought exists, and we are not aware of any pending or threatened material litigation that may result in claims for indemnification by any of our directors or executive officers.

**Item 16. Exhibits.**

(a) *Exhibits*

A list of exhibits filed with this registration statement on Form S-3 is set forth on the Exhibit Index and is incorporated herein by reference.

**EXHIBIT INDEX** 

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| | |
|:---|:---|
| **Exhibit No.** | **Exhibit Description** |
| 3.1 | [Certificate of Designations of the Series A Convertible Preferred Stock (incorporated herein by reference to Exhibit 3.1 of the Company's Current Report on Form 8-K filed with the SEC on November 17, 2021)](https://www.sec.gov/Archives/edgar/data/1758009/000121390021060353/ea150528ex3-1_quantum.htm) |
| 3.2 | [Certificate of Amendment of Certificate of Designations of Series A Convertible Preferred Stock of Quantum Computing Inc., filed with the Delaware Secretary of State on December 16, 2021 (incorporated herein by reference to Exhibit 3.1 of the Company's Current Report on Form 8-K filed with the SEC on December 17, 2021)](https://www.sec.gov/Archives/edgar/data/1758009/000121390021066041/ea152526ex3-1_quantum.htm) |
| 3.3 | [Certificate of Designation with respect to the Series B Preferred Stock, par value $0.0001 per share, dated June 14, 2022 (incorporated herein by reference to Exhibit 3.1 of the Company's Current Report on Form 8-K filed with the SEC on June 21, 2022)](http://www.sec.gov/Archives/edgar/data/1758009/000121390022034003/ea161824ex3-1_quantum.htm) |
| 4.1 | [Form of Common Stock Purchase Warrant (incorporated herein by reference to Exhibit 10.2 of the Company's Current Report on Form 8-K filed with the SEC on November 17, 2021)](http://www.sec.gov/Archives/edgar/data/1758009/000121390021060353/ea150528ex10-2_quantum.htm) |
| 4.2 | [Form Amendment to Common Stock Purchase Warrant (incorporated herein by reference to Exhibit 10.2 of the Company's Current Report on Form 8-K filed with the SEC on December 17, 2021)](http://www.sec.gov/Archives/edgar/data/1758009/000121390021066041/ea152526ex10-2_quantum.htm) |
| 4.3 | [Description of Securities (incorporated herein by reference to Exhibit 4.4 of the Company's Annual Report on Form 10-K filed with the SEC on March 15, 2022)](http://www.sec.gov/Archives/edgar/data/1758009/000121390022012564/f10k2021ex4-4_quantum.htm) |
| 5.1\* | [Opinion of Lucosky Brookman LLP](ea171351ex5-1_quantum.htm) |
| 10.1 | [Form of Securities Purchase Agreement (incorporated herein by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed with the SEC on November 17, 2021)](http://www.sec.gov/Archives/edgar/data/1758009/000121390021060353/ea150528ex10-1_quantum.htm) |
| 10.2 | [Form of Amendment to Securities Purchase Agreement (incorporated herein by reference to Exhibit 10.2 of the Company's Current Report on Form 8-K filed with the SEC on December 17, 2021)](https://www.sec.gov/Archives/edgar/data/1758009/000121390021066041/ea152526ex10-2_quantum.htm) |
| 10.3 | [Form of Registration Rights Agreement (incorporated herein by reference to Exhibit 10.3 of the Company's Current Report on Form 8-K filed with the SEC on November 17, 2021)](http://www.sec.gov/Archives/edgar/data/1758009/000121390021060353/ea150528ex10-3_quantum.htm) |
| 10.4 | [Form of Securities Purchase Agreement (incorporated herein by reference to Exhibit 10.3 of the Company's Quarterly Report on Form 10-Q filed with the SEC on November 13, 2020)](http://www.sec.gov/Archives/edgar/data/1758009/000121390020036783/f10q0920ex10-3_quantum.htm) |
| 10.5 | [Agreement and Plan of Merger by and among Quantum Computing Inc., Project Alpha Merger Sub I, Inc., Project Alpha Merger Sub II, LLC, QPhoton, Inc., and Yuping Huang (incorporated herein by reference to Exhibit 10.1 to that Current Report on Form 8-K filed with the SEC on May 23, 2022)](http://www.sec.gov/Archives/edgar/data/1758009/000121390022029012/ea160354ex10-1_quantum.htm) |
| 10.6 | [Escrow Agreement, dated June 16, 2022, by and among Quantum Computing Inc., Yuping Huang and Worldwide Stock Transfer, LLC (incorporated herein by reference to Exhibit 10.2 of the Company's Current Report on Form 8-K filed with the SEC on June 21, 2022)](http://www.sec.gov/Archives/edgar/data/1758009/000121390022034003/ea161824ex10-2_quantum.htm) |
| 10.7 | [Stockholders Agreement (incorporated herein by reference to Exhibit 10.3 of the Company's Current Report on Form 8-K filed with the SEC on June 21, 2022)](http://www.sec.gov/Archives/edgar/data/1758009/000121390022034003/ea161824ex10-3_quantum.htm) |
| 10.8 | [Form Registration Rights Agreement (incorporated herein by reference to Exhibit 10.4 of the Company's Current Report on Form 8-K filed with the SEC on June 21, 2022)](http://www.sec.gov/Archives/edgar/data/1758009/000121390022034003/ea161824ex10-4_quantum.htm) |
| 10.9 | [Employment Agreement, dated June 15, 2022, by and between Quantum Computing Inc. and Yuping Huang (incorporated herein by reference to Exhibit 10.5 of the Company's Current Report on Form 8-K filed with the SEC on June 21, 2022)](http://www.sec.gov/Archives/edgar/data/1758009/000121390022034003/ea161824ex10-5_quantum.htm) |
| 23.1 | [Consent of BF Borgers CPA PC (incorporated herein by reference to Exhibit 23.1 to the Registration Statement on Form S-3, filed with the Securities and Exchange Commission on December 29, 2022)](http://www.sec.gov/Archives/edgar/data/1758009/000121390022083615/ea169744ex23-1_quantum.htm) |
| 23.2\* | [Consent of Lucosky Brookman LLP (reference is made to Exhibit 5.1)](ea171351ex5-1_quantum.htm) |
| 24.1 | [Power of Attorney (included on the signature page of this Registration Statement)](#s_001) |
| 107 | [Calculation of Filing Fee Table (incorporated herein by reference to Exhibit 107 to the Registration Statement on Form S-3, filed with the Securities and Exchange Commission on December 29, 2022)](http://www.sec.gov/Archives/edgar/data/1758009/000121390022083615/ea169744ex-fee_quantum.htm) |

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\* Filed herewith.

**Item 17. Undertakings.**

The undersigned registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period
 in which offers or sales are being made, a post-effective amendment to this registration statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus
 required by Section 10(a)(3) of the Securities Act of 1933;

(ii) To reflect in the prospectus
 any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof)
 which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement.
 Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities
 offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering
 range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes
 in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the "Calculation
 of Registration Fee" table in the effective registration statement; and

(iii) To include any material
 information with respect to the plan of distribution not previously disclosed in the registration statement or any material change
 to such information in the registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That for the purpose of
 determining any liability under the Securities Act of 1933 each such post-effective amendment shall be deemed to be a new registration
 statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the
 initial bona fide offering thereof.

(3) To remove from registration
 by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(4) That, for the purpose of
 determining liability under the Securities Act of 1933 to any purchaser, each prospectus filed pursuant to Rule 424(b) as part of
 a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses
 filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first
 used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the
 registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or
 prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first
 use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration
 statement or made in any such document immediately prior to such date of first use.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) That,
 for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution
 of the securities: The
 undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration
 statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold
 to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and
 will be considered to offer or sell such securities to such purchaser:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Any preliminary prospectus
 or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;

(ii) Any free writing prospectus
 relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;

(iii) The portion of any other
 free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities
 provided by or on behalf of the undersigned registrant; and

(iv) Any other communication
 that is an offer in the offering made by the undersigned registrant to the purchaser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) The
 undersigned Registrant hereby undertakes to provide to the underwriters at the closing specified in the underwriting agreement certificates
 in such denominations and registered in such names as required by the underwriters to permit prompt delivery to each purchaser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) Insofar
 as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons
 of the Registrant pursuant to the provisions described in Item 14 above, or otherwise, the Registrant has been advised that in the
 opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.
 In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred
 or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding)
 is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will,
 unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction
 the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed
 by the final adjudication of such issue.

(8) The undersigned Registrant
 hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) That
 for purposes of determining any liability under the Securities Act, the information omitted from the form of prospectus filed as
 part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the Registrant pursuant
 to Rule 424(b)(1) or (4), or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the
 time it was declared effective.

(2) That
 for the purpose of determining any liability under the Securities Act, each post-effective amendment that contains a form of prospectus
 shall be deemed to be a new registration statement relating to the securities offered therein, and this offering of such securities
 at that time shall be deemed to be the initial bona fide offering thereof.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Leesburg, State of Virginia, on January 6, 2023.

---

| | |
|:---|:---|
| Quantum Computing Inc. | Quantum Computing Inc. |
| By: | */s/ Robert Liscouski* |
| Name: | Robert Liscouski |
| Title: | Chief Executive Officer, President, and<br> Chairman of the Board of Directors |
|  | (Principal Executive Officer) |

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POWER OF ATTORNEY: KNOW ALL PERSONS BY THESE PRESENTS that each individual whose signature appears below constitutes and appoints Robert Liscouski, his true and lawful attorneys-in-fact and agents with full power of substitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to sign any registration statement for the same offering covered by the Registration Statement that is to be effective upon filing pursuant to Rule 462(b) promulgated under the Securities Act, and all post-effective amendments thereto, and to file the same, with all exhibits thereto and all documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or his, her or their substitute or substitutes, may lawfully do or cause to be done or by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated:

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| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| */s/ Robert Liscouski* | Chief Executive Officer, Chairman of the Board, and President | January 6, 2023 |
| Robert Liscouski | (Principal Executive Officer) |  |
| */s/ Christopher Roberts* | Chief Financial Officer | January 6, 2023 |
| Christopher Roberts | (Principal Accounting Officer and Principal Financial Officer) |  |
| */s/ Robert Fagenson* | Director | January 6, 2023 |
| Robert Fagenson |  |  |
| */s/ Bertrand Velge* | Director | January 6, 2023 |
| Bertrand Velge |  |  |
| */s/ Michael Turmelle* | Director | January 6, 2023 |
| Michael Turmelle |  |  |

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## Exhibit 5.1

**Exhibit 5.1**

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| | |
|:---|:---|
| ![](ex5-1_001.jpg) | **LUCOSKY BROOKMAN LLP** |
| January 6, 2023 | <br> 101 Wood Avenue South<br> 5th floor<br> Woodbridge, NJ 08830<br> T - (732) 395-4400<br> F - (732) 395-4401 |
| Quantum Computing Inc.<br> 215 Depot Court SE, Suite 215<br> Leesburg, VA 20175 | 111 Broadway<br> Suite 807<br> New York, NY 10006 |
|  | T - (212) 332-8160<br> F - (212) 332-8161 |
|  | www.lucbro.com |
| Re: Registration Statement on Form S-3 for Quantum Computing Inc., a Delaware corporation |  |

---

Ladies and Gentlemen:

We have acted as counsel to Quantum Computing Inc., a Delaware corporation (the "Company"), in connection with the preparation and filing with the U.S. Securities and Exchange Commission of a Registration Statement on Form S-3 (the "Registration Statement"). The Company is filing the Registration Statement in connection with the offering from time to time, pursuant to Rule 415 promulgated under the Securities Act of 1933, as amended (the "Securities Act"), by certain selling stockholders of up to 32,940,738 shares of the Company's common stock, par value $0.0001 per share ("Common Stock"), consisting of (i) 26,615,235 shares of Common Stock (the "Common Shares"); and (ii) 6,325,503 shares of Common Stock issuable upon exercise of vested warrants (the "Warrant Shares" and together with the Common Shares, the "Securities").

The offering of the Securities will be as set forth in the prospectus contained in the Registration Statement, as amended, and as supplemented from time to time (the "Prospectus").

In rendering these opinions, we have examined the Company's Certificate of Incorporation and Bylaws, both as amended and currently in effect, the Registration Statement, and the exhibits thereto, and such other records, instruments and documents as we have deemed advisable in order to render these opinions. In such examination, we have assumed the genuineness of all signatures, the legal capacity of all natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as certified, conformed or photo static copies and the authenticity of the originals of such latter documents. We are opining herein as to the General Corporation Law of the State of Delaware and we express no opinion with respect to any other laws.

As a result of and subject to the foregoing, we are of the following opinion:

Subject to the qualifications, limitations, exceptions and assumptions set forth herein, we are of the opinion that the Common Shares have been validly issued, are fully paid and are non-assessable.

Upon the issuance of the Warrant Shares following the exercise of the vested warrants against payment therefor as set forth in the Registration Statement, the Warrant Shares will be validly issued, fully paid and non-assessable.

The foregoing opinion is qualified to the extent that the enforceability of any applicable agreement, document, or instrument discussed herein may be limited by or subject to bankruptcy, insolvency, fraudulent transfer or conveyance, reorganization, moratorium or other similar laws relating to or affecting creditors' rights generally, and general equitable or public policy principles.

We have relied as to certain matters on information obtained from officers of the Company, and other sources believed by us to be responsible.

Our opinion letter is expressly limited to the matters set forth above, and we render no opinion, whether by implication or otherwise, as to any other matters relating to the Company, the Securities or the agreements and instruments addressed herein, or in the Registration Statement. This opinion is based upon currently existing statutes, regulations, rules and judicial decisions, and we disclaim any obligation to advise you of any change in any of these sources of law or subsequent legal or factual developments which might affect any matters or opinions set forth herein.

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the references to this firm under the caption "Legal Matters" in the Prospectus which is a part of the Registration Statement. In giving such consent, we do not thereby admit that we come within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission promulgated thereunder.

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| |
|:---|
| Very Truly Yours, |
| /s/ Lucosky Brookman LLP |
| Lucosky Brookman LLP |

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