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Concur… especially the willful bending of physics by Tao to fit his pie in the sky conclusion and all the other so called scientists involved in this fakery. I personally love the line by Tao on one of the failed field tests that the pipeline operator engineers didn’t understand the results. Laughable!
Cecil is a trend scam CEO. Him and his ilk jump into management of one penny stock after another and immediately set up a SPA and start writing blank checks with convertibles that will never get paid back with cash! Frankly it’s insane to believe any of managements claims especially from Cecil who has lied so many times I can’t believe he would even show his face…but hey ego and the ability to grift cash from a weaken corp must be a strong motivation for those that care little about real success.
The ridiculous press release assessing the engineering fix for the great white pipe is just another example of more blatant lies to keep the corp afloat! Note how they say they pump oil into the Aot not through it! So they claim they filled it will oil(not pressurized or flowing ) then turned it on for an hour. Where is this all happening! Are they using a full scale rig? Aot is meant to run with oil flowing through it at 5 mph at high psi! A static test is just meant to keep the dream alive and show sticks and stems to the remaining investors.
“In closing, we are confident that a retest in the presence of a development partner will yield to the expectations prior to June 2020. Furthermore, despite any supply chain issues, we expect to be testing in the next few weeks. Pending a positive outcome, we should be able to move forward towards a demonstration test in the presence of a development partner.”
So… it’s been 6 months and not a word! Not the use of the phrase “in the presence of a development partner”. The plain translation is never!
This rig has so many issues nobody is putting it on a line which contains anything remotely combustible! Electrical arcs within high psi flammable flowing liquid is a disaster. They got a better shot moving chocolate or cannabis oil!
The rig shorted out as soon as they increased the current flow so I doubt they ever pressurized the vessel to operating levels. It matters little they have a far better chance with Taos Tornado walls than pitching this poor interpretation of joule heating.
247k raised will get them to next year! Send up the flares!
From September 10Q:
“
Revenue for the three months ended September 30, 2021 was $153,476 compared to $1,306,201 for the corresponding period in 2020, a decrease of $1,152,725 or 88.3%. This decrease in revenue is primarily due to the fact that there was a very strong cannabis crop in the last quarter of 2020, which drove down wholesale cannabis prices significantly and limited the profitability of our distribution and trading operations. The Company expects such cyclical revenue deviations to be mitigated in 2021 and following years by a significant growth of revenue from our HourGlass products, which will be unaffected by these cyclical events.”
So management blames a bumper crop in the last Q of 2020 as a reason for a 88% decline in sales that continued through 3Q 2021! Logic has left the building!
Nothing says success like blowing another SEC reporting deadline!
“or the subject quarterly report or transition report on Form 10-Q, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date;”
Let’s see 5 calendar days extension would be 11/20...yet no 10Q! This is the second time they have blown a reporting extension yet there is little concern! Elvis has left the building!
Management employing more smarmy disclosure tactics to shroud actual results. Never a good sign! I’m betting revs are down to the stick and stems!
Rule 10b5-1 permits major holders to sell a predetermined number of shares at a predetermined time. Many corporate executives use 10b5-1 plans to avoid accusations of insider trading. It’s the mall attorneys trying to look legit while still getting done holiday play money!
Nothing spells competency then blowing another Quarterly report deadline!
“As reflected in the accompanying condensed consolidated financial statements, the Company had a net loss of $1,168,000 and a negative cash flow from operations of $514,000 for the nine-month period ended September 30, 2021. In addition, as of September 30, 2021, twenty-six notes payable with an aggregate balance of $1,285,000 and certain obligations to a former officer are past due. These factors raise substantial doubt about our ability to continue as a going concern.”
Different decade same story!
They are not capable of running a company that actually has to manufacture and distribute a product. The numbers speak for themselves. Look at CGS as percentage of sales! Completely out of whack with overhead just combusting dollars every month. Then there is the dramatic drop in sales which is again a function of not having a developed sales network which should have been the primary goal.
Cecil is a scam CEO. Company is now a full fledge con and it’s product is a worthless vessel of steel and is based on pseudoscience concepts developed by a college professor interested in keeping grant money and his university greased with licensing fees which now exceeds $1M and collect 10% in interest a year! Other than that....everything is great!
“Dr. Christopher Gallagher explained, "The inability to achieve treatment field strength has been a recurring theme through the demonstration project, where we were under contract to provide services to our partner, which ended in June of 2020”
Under contract to try “provide” service is the biggest lie I think I’ve heard from this crap company in decade! They paid to rest their magic white pipe and failed miserably. Operator was happy cash the $500k and let Qsep bomar brains play like they were actual engineers. They turned it on a few times and the thing arcing like Tesla coil. Bottom line. Flow combustible crude through an enclosed arcing capacitor and you’ll get an explosion that will level a block!
Gallagher making bank by showing he is working on a engineering problem and shows pictures as if it’s investors are technically knowledgeable of a pseudoscience product which has been redesigned every year for a decade. Pay no attention to the fact that Cecil and all that came before and after him are complicit in hiring crap engineers who simply took a paycheck as they understood that their work was not about anything but looking like they were working on the issue. Look as they now release pictures and diagrams...a freaking joke. They have lied so many times about the cause it’s pathetic. The have tried to lay the blame on their component and power supply vendors. Who’s next? Maybe it’s Trumps fault!
They are retaining( paying) 6pak which is a Canadian cannabis packaging company to try to push the company’s ineffective hourglass pseudo product. It’s another play run from the mall attorney & CEO playbook!
This is not technology this a shell game meant to separate uneducated investors from their money by slight of hand. Management has duped thousands of people into investing in this garbage company.
Dude...Aot doesn’t work. Never has and 2 decades of burning over 100M on overhead and executive salaries has proven over and over this is a lifestyle stock.
What planet was that on?
Based on what? Maybe pick a weed stock to promote that doesn’t have so much baggage.
“Having resumed the testing of AOT we have made some significant discoveries in troubleshooting the AOT device in its current configuration. The past few months of testing revealed conclusions related to previous demonstration site failures leading to what we consider "design challenges" for an improved AOT. These challenges are always a feature associated with the development of any new technology. There will be more information to elaborate on in the coming weeks pending our current testing and evaluation of the AOT this week. In our pursuit to determine optimal design changes to achieve a reliable AOT we are also mindful of the timing element to re-approach a development partner.”
Wow...more lies and misdirection for a technology that doesn’t work. These idiots are telling investors how they are going to proceed which means they will continue to milk the “redesign” mission while hanging the carrot of
“re-approaching a partner! 20 years of pulling the same rabbit out of the hat. It’s amazing anyone falls for it.
Company knows it can’t solve the technical problem that fundamentally alters the laws of nature. Aot is a giant free flowing capacitor with a varying composition in the fluid component which may impart minimal heat to the flow but also has an inherent characteristic of discharging itself to any available path to ground. Any reduction in viscosity is the result of electrons flowing through the crude not magical clumping or Taos fake claims of efficacy! Current technology would never be replaced or reduced with this type of pseudo product. Especially with it arcing all over the place. Older Dewatering equipment used a low current to separate water yet this fools can’t get the Aot to turn on?? The new tech engineer is happy to work on anything provided he gets his hourly rate! Especially since it will be impossible to solve!
Perfect storm? IMO Qsep many product failures are akin to being hit by a Cat-5 hurricane while simultaneously struck by a Texas sized asteroid! Nothing can save it... even the measly $275k in cash Cecil found in loose change does little to change the facts on the ground. Company products are based on pseudo science are claimed as a bee technology. This has been the story that was peddled to sell shares for 20 years!
Legit companies with real product fail all the time for much less. Qsep self inflicted wounds are too deep and it might survive as a ticker but it going to get rolled up into something else.
The stink of Biden’s tax plan
2021 sales comparisons tells the story of epic failure! Off by 66% from last years numbers through q2! For a company who has been touting “growth” as a driving factor these morons can even string together a revenue stream that rivals a single mid size dispensary!
$1.6M now owed to Temple for a patent on a device that has never proven its efficacy and continues to arc to ground after a decade of engineering and millions of dollars spent on a poorly designed college experiment! Btw that $1.6M now collects $160K a year in interest! The gift that keeps giving!!!
Ground faults within a flammable high psi viscous oil flow is a recipe for disaster! No pipeline operator will ever try it unless it’s been tested for years...not hours! Less than 200k in cash means these guys can’t even stay current with patent and public disclosures never mind paying off Bigger who still awaits getting his golden parachute paid in full! At least Cecil gets his new offices paid for!
$250k in stock swap says it all. Gpft has very minimal cash reserves and their sales crashed last q to a mere fraction of what has been reported in previous Qs. This company been giving away shares for way over two decades...so this is nothing new
For the Mall Attorney bros. The recent cheer leading suggests more meaningless news will be leaked out slowly to gin up the base. This human comedy continues unabated! It will be continue to heralded even as it pps breaks down further!
Doing a press release on an unknown JV that “may or may not” happen is this company’s modus operandi since its inception and later reverse reformation.
Pay no attention to the company’s latest sales which tanked hard last Q while the much ballyhooed Thc hourglass product, is in only a handful of stores since it’s launch late last year. The Is just more of the wag the dog misdirection strategy.
Falling for the mall attorneys fluff piece...priceless!
Consider it a blessing!
Company needed a viable product which they were unable developed over a period two decades. Now old management is reinstated, not because he brought the fuel
Injection auto product or the magic white pipe concept to fruition ,but because he supposedly has access to very limited capital. It’s a big crap sandwich feed to investors for way to long!
“The second quarter filing should follow soon & then QS become CURRENT filers. This is why I do my own d/d. I only take advice from professionals who know what they are talking about.”
“Soon” is not recognized by the SEC. This fake ticker has only sticks and stems left in cash with millions in debt! Good luck with raising more cash with Cecil the clown at the helm!
Only Facts counter disinformation!
“UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One) [_] Form 10-K [_] Form 20-F [_] Form 11-K [X] Form 10-Q [_] Form N-CEN [_] N-CSR
For Period Ended: June 30, 2021
“
The Q released today is late was due in May and is for q1. The recent Nt notice is for Q2 and that was due on august 16th with a 5 calendar day extension.
Consider it a blessing!
10q was due August 16th the nt-10q extends 5 calendars days which means Qsep missed its extension date. Not a good look for the promoter and film producer and pilot CEO!
84k in sales for the Q! 800k in cash consumed! Mall lawyers can’t run a lemonade stand!
Nothing spells confidence more than NOT being able to file a timely 10K!
Coke went woke. Patriots will divest shortly. A coordinated strike that they will never see coming.
Contracts?A significant contract is material event and would be reported by an 8k. This is just regurgitated salesman puffery. Weed maps shows 3 stores in Cali out of 500 dispensaries and only 3 reviews online. This 8 store operation is not committing to anything other to try it out. When it fails you won’t hear a peep! More confirmation that the mall lawyers know nothing about building a sales distribution network as the online effort is obviously a major bust! Watch as the next 10Q confirms this with declining sales and higher costs.
“This is a .10 stock (was a .10 stock) that will be at .50 - $1.50 in the medium term, and then $3.00, and $5.00-$10.00 longer term. All the DD available lays out a clear picture as to how they will get there. This is the potential myself and largest shareholders see for this stock. “
I have heard the same prediction for a decade! The incessant fawning over industry pro Lane was billed as the savior of the company as was Bigger and Kyte before him! Anybody investing without seeing the past due 10q should just hop a plane to Vegas.
It’s bull this is the zombie pump once again. Product is garbage and the company has been run into the ground. Toxic financing is their only option now so while the pump is on the end game is still approaching.