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279k in cash. Average Cash burn now 140k per month.
That is patently False.
Here is Sec full response:
Form 10-Q for Fiscal Quarter Ended March 31, 2016
1. As applicable, please also give effect to the following comments in your Form 10-Q for the fiscal quarter ended March 31, 2016.
Form 10-K for Fiscal Year Ended December 31, 2015
2. We note your response to our prior comment 1 and reissue the comment in part. It is unclear from your disclosure which patents that you own are related to your active
Greggory Bigger QS Energy, Inc. May 27, 2016 Page 2
business. Please expand your disclosure at page 11 to quantify the number of patents which no longer form an active part of your business, and describe any risks to your business that result from any gaps that exist in full patent protection.
3. We reissue our prior comment 2 in part. You continue to suggest that your AOT technology has been “proven” to “increase the energy efficiency of oil pipeline pump stations.” Based on the information you provided on a supplemental basis and the related disclosures, and for the reasons cited in prior comment 2, please revise your disclosure to remove the claim that the technology has been “proven.”
4. Similarly, please revise to eliminate the suggestion at page 6 that you have “proven” your “ability to build, deliver and operate [your] AOT equipment on a high-volume commercial pipeline” in light of the details you supplied regarding the problems your equipment has encountered and the lack of any substantial commercial usage. As you state at page 10, you “have not proven the commercial viability of this product”
Nonsense SEC doesn’t do anything of the sort and would never “verify” scientific conclusion made by the company, Tao or paid third party consultant. Any intimation of that being factual is a complete misrepresentation of the truth. But not to worry...Qsep makes a habit out of bending the truth and apparently it’s investor base or just fine with it.
The human comedy continues!
Well according to law experts...Aot is long long way from Tiporelli!
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We believe the use of the word “proven,” in the context of the disclosures and discussion above, does not suggest that the AOT technology is, at this time, commercially viable. Nonetheless, to address the staff’s concerns, we will revise future filings by removing the word “proven” and replacing it with the word “demonstrates” or “shows.” Please advise.”
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It's a non issue for the ceo & the board. QS has always managed to get by when it comes to funding.
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Wow what a powerful corporate strategy! The old pull the rabbit out of the hat and “get by” financing model! Brilliant!!
It’s mind boggling that pundits begin the celebration before Qsep even cleans off the cob webs from Its equipment which has been moth balled for years awaiting a so called and much promoted “redeployment” which never happened after all the value added reworking. Ha! They don’t even have a firm date for this freebie test yet the cheering is deafening. This company could come out tomorrow and say there product didn’t work and it would be applauded. Meanwhile they burn cash with no realistic estimation when sales of any kind will be generated to partially offset the overhead and expanding costs which will most assuredly hit the books very hard in 2019. Look for another 20% plus dilution of ownership in 2019.
CFO answers the majority of the question ) only a few from actual shareholder in attendance and then cherry picks internet questions while the CEO sits back...wtf is that! He is the financial guy and should not answer technical question or pontificate how they are in the process of getting a trademark. Hey Math whiz ..How about answering real questions like these:
Status of Temples licensing fee for fuel injection and crude viscosity reduction. Status of Tao’s sponsored grant reported in default last Q. Company owes Temple
hundreds of thousands of dollars. When is that resolved??
Status of Bigger’s severance debt. Is he suing the company?
Status of KM contract which has been buried. Are investors just simply to purge that info from the cranium collective?
How much funds will be needed to finance opex in the next 12 months? How will this be financed when the common pps is sinking .065?
What will be the cost to company to install and maintain the proposed pilot test?
How will preferred shares be used? Will they carry a common conversion feature or dividend?
Why is selling equity the only option? Why can’t CFO secure a line of credit from a local financial institution secured by its five magic pipes in inventory?
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(1) It is expected that an AOT will be installed on the pipeline of a major energy company by the end of this month. Let that sink in. A company that was described as a "major major" energy company with world wide reach, wants to partner with us. They must believe that the science and engineering of the AOT has enough potential to warrant installation on one of their pipelines. This makes it crystal clear that past tests were not failures. Like most new technologies, the AOT has required multiple tests and engineering redesigns to reach the commercialization stage. “
Tcpl was a giant failure so was KM. To suggest these efforts were successful is just taking another mega fluff job that only benefits Qsep management by allowing them to continue the charade for another five years.
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(2) QSEP will bear most of the costs of the installation and testing. This is important. QSEP wanted a partner not a client. This will allow QSEP to own the data and have a high level of operational control. “
Lol..,hysterical. Qsep is paying to install because their claimed results are not ever closed to what has transpired in its previous two whole days of testing after a decade of saying they are moments away from commercial deployment.
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(3) QSEP will be given a minimum of 6 months on the pipeline. Prospective QSEP clients will be allowed to visit the demo site. QSEP will be allowed to tweak the AOT if needed. The demo site may continue for as long as 3 years. This will be invaluable in terms of marketing, but will also allowing for continuous enhancement of the technology.”
It’s called a luminary site and it’s a typical ploy used by penny stock companies to create interest where there is none. Algae growers love this angle! No Corp would compromise its business by allowing a otc company to bring in a gaggle of competitors to traipse through its yard. Makes a great story but it’s pure BS.
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(4) Third party verification will be part of the process. At least two maybe three outside entities will be used. PRCI has been approached and is a likely candidate. The energy company whose pipeline we will be testing on is a member of PRCI.”
Even more ludicrous! Qsep has claimed years ago that its technology has been verified by several high profile testing agencies but none of them can put dollars in the bank. PRCI will be happy play as long as they get paid.
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(5) Heavy crude oil with a high paraffin content is the initial target market. While the AOT has efficacy on lighter crude, it has the longest duration and most dramatic viscosity reductions in heavy crude with high paraffin content. The crude being used in the demo project fits that description. Also, most heavy crude lines are more challenging for DRA products. More on that later. It only makes sense to go after your best market prospects first. There are more than enough potential clients in this category to make QSEP a ton of money. “
Please...Qsep had no chance of proving its turbulence reducing benefit which is a considerable stretch from its viscosity reduction claims...also highly unlikely to provide any benefit other maybe a bottleneck relief in very specific areas by imparting heat to precipitate.
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(6) QSEP has new pipeline modeling software to do oil testing and customer presentations in house. This will streamline the process. Temple is okay with that. “
Haha! Nothing written about Qsep can use the word streamline. They have mismanaged resources since inception and the move to test in-house is too little way too late.
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(7) QSEP has increased their supplier network with mostly companies in the Houston area. “
Great...there are pipe-suppliers in Houston. More fluff not even newsworthy but apparently they need to fill dead air!
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(8) There are 25 to 30 prospective clients that QSEP has had extensive discussions with that are ready to move toward sales, if the demo generates acceptable data. We won't need to do anymore test projects, because most everything a prospect will need to know will be available at this site. “
Bull..Qsep has been claiming they have lots of customer on the hook for years! None of them have stepped up and continued working with Qsep or entered into a strategic alliance..Nobody...nada!
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(9) Institution money is being lined up. Much like QSEP's prospective energy clients, the institutional money clients want to see positive data and a more risk certain outlook for sales. This means they will be coming in at much higher stock prices. This is less dilutive. “
Institutional money ain’t touching this company with a 100ft pool. Any suggestion that Qsep is imminently poised to receive institutional money is again false and misleading. Math McMullen weaving a story from thin air as he takes a flight back to Cali to run the financial side of business from a 1500 miles away. Pathetic!!
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(10) ISNETWORLD is a web enabled system that is used to qualify vendors. QSEP has spent over a year navigating the labyrinth to get everything in place. Because it is almost a universal system with energy companies, once you've met the hurdles for one you've met the hurdles for all. “
Another SCADA or ASME excuse that shareholders have heard for a decade just repackaged in another way to keep shareholder from jumping ship. It’s like they throw out another acronym and investors eyes roll up into their heads! It won’t work. The selling is going to continue especially since the 10q was not reported at SHM (a huge error in judgment) which signals even more bad news which this team apparently does not have the nerve to discuss with investors. CFO referring all relevant question to that upcoming release but not releasing it prior to the meeting so investors can ask relevant questions at the meeting demonstrates that nothing has changed with this new management team. The same cock and bull stories are intimated and this team in full delay mode.
“
(11) An important "tell" that things are now accelerating is that a substantial outlay was made by QSEP to purchase general liability insurance to satisfy QSEP's new partner.”
Excuse me but anytime a company sells a product or service to a public company or a large private concern a GL policy needs to be in place. This is not a revelation and again is not worthy news, its just there to fill the dead air of the SHM. Besides these policy are not expensive certainly no where near the 125K a year Qsep flushes down the toilet to cover Temple for the licensing of Fuel injection devices which have been pronounced DOA for 5 plus years!
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(14) “The company allowing us on their pipeline has indicated a desire to deploy the AOT not just to fit out the rest of this line, but to deploy system wide if the data justifies it. “
Another story concocted that cannot be verified. According to Qsep every industry in the world will benefit from Tao’s whacky invention yet try after try these companies simply evaporate after they take a peak.
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In my humble opinion, any negative market reaction is most likely by those with a very short time horizon. The number of scientists and engineers from major energy corporations that continue to think that the AOT has a good chance of working is a very powerful reason to give the AOT this chance to move to
“
It’s amazing how investors can just come to this conclusion. It’s simple without merit and ignored the opportunity cost of watching your investment Qsep go down the flusher. My question would be how much more slack will be allowed to this or future management to actually create a company that can be called a legitimate business.I notice most pundits no longer make prediction as to timing of sales anymore because all have been dead wrong.
Dude...keep hope alive until the cows come home but nobody can argue that Qsep has yet to get a single TD into the end zone and by all accounts is at best many many years away from any ongoing revenue stream if any. Look at the pace of change. Company is just now speaking about in-house testing after relocating to Houston 1.5 years ago with a new oil guy at the helm! Really...this is move that should have been made immediately. Qsep cannot control it’s destiny if they must constantly send samples to Tao and it takes months to get them back. It is insanity qsep kept it going for this long. Maybe Tao is holding the oil samples hostage until his sponsored grant is paid off! Lol...this is such a human comedy.
The message from the CFO was telling. Until they can effectively demonstrate an actual competence at securing a deal that produces cash, Qsep will continue selling convertibles to finance opex which I’m sure is now steadily increasing. Anything they promise should be taken with a grain of salt. Dilution is ongoing and discussion regarding finance and preferred stock from the math whiz “out of state” CFO was a simply repacked pitch of stories told long ago. I think I have heard them all now.
How any shareholder could praise this meeting is beyond belief. The only result is that management has effectively RESET the clock a decade! Congratulation on job well done!! It’s amazing they keep getting a pass. It must be the giant blue “paperweight” sitting out front in Tomball!
Tao’s 2006 paper is the basis of all of this wizardry with plenty of “supposed” empirical data showing the true magic of the giant white pipe. Turns out now according to some new revelation by the crack management team that real oil companies actually need concrete proof the device works ...gee what a concept. It’s called business!! Btw...all this nonsense about previous NDAs is a line of crock. If Tcpl or KM or whom ever else loved the results and the internal data backed it up then they they would buy it. If they didn’t they would have little interest in preventing the sharing of data that showed that result. Nope..this excuse has been
used for many years and successfully implies a hidden wealth that can’t be seen like gold or diamonds buried deep in data. Just like Tao’s paper detailing his turbulence reduction claims after sifting through his empirical numbers!
My bet this will likely continue downward as management just gave investors the “talk to you next year” sign!
Lip service...it was an awkward meeting with very few in attendance and the the fat meat ball question served up! Not one hard hitting question other than when they be a revenue company and that was via email! CFO could not answer any of them other than to dance around the issues. The boys of Qsep sounded unsure and flustered. Now we learn that Tao’s turbulence reduction claim which he made outlandish claims about AOT drag reducing properties which is just another fluff job as apparently Aot now only works on heavy crude with high paraffin contents...so much for the “chemical DRA companies ” cowering in fear! hahaha!!!
Again not showing the 10q prior to this meeting is another clear indicator that nothing has changed with management. Lane say they need long term data but they have many chances and years of testing in the past that apparently is now deemed insufficient.
CFO running the show from his wet bar in Cali! Lol...I love the fact the VP of engineering has installed an Elektra to get cheap data! A page out of the old Tao play book!
Gutless management doesn’t even release the Q at the SHM which is due next Wed effectively dodging any real
Heat for another 4 months. Complete dependence on convertibles to fund operations with absolutely no paid contracts anytime soon. No mention of KM...
Unfortunately contract law does not agree with that theory. The Kinder Morgan pilot contract never incepted therefore cannot be “suspended” and would not require an “8k”. This is the continuation of the smarmy management stance on telling the truth about the status of this failed pilot.
Stick a fork in it....KM deal is done!
From Most Recent Q:
“The Kinder Morgan Lease is currently in suspension and lease payments have not yet commenced.
“
The fact that no consideration has been transferred to Qsep means there is no active contract with Kinder Morgan and any assertion that one exits would be a misrepresentation of the truth. I doubt many investors will buy the pitch that KM contract could still be active 4 plus years after the equipment was delivered and never paid for!
I can find no solid reason for any Qsep investor to spend another penny in an attempt to discover the truth in Tomball when the whole world already knows whats up. The 10Q due this month will announce no concrete deals or pilots and will again show how this company consumes it’s most valuable resource....cash! Besides that... there will be lots of fluffy rhetoric to feed the hungry which will again amount to a giant bowl of steam!
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NOT TRUE. This is why TRANSCANADA is showing "CONTINUED INTERESTS" in the PROVEN AOT. This is ABSOLUTELY TRUE. From the Business Plan. AOT Case Study. This is clearly in reference to TransCanada & the PROVEN AOT. “
Lol! Case in point! Tcpl is STILL touted as active or garnering some unknown secret interest in Qsep’s secret sauce even though along with KM both promptly exited stage left! The promotion value is still exploited today’s year’s after its dead and done.
The concept of “continued interest” fits the narrative because it can’t be verified but it isn’t factually correct or the result of a simple misunderstanding of the disclosures. This is a misrepresentation of the truth which is clear and indisputable. Tcpl has terminated its relationship with Qsep and returned all equipment to sender where it sits in Tomball today awaiting some other roll in the hay. I would also predict that KM has returned the condensate test unit as well but again management has seen fit to continue not to detail that debacle other than the lease suspension limbo verbiage it concocted in the last few Qs.
A pilot is just another test until a major actually steps up and puts serious money into buying several of these magic pipes or agrees to the “toll” charge business model that the crack team has dreamed up. Btw Imminent success has been predicted to be just around the corner for pretty much a decade but it never amounts to anything other than a dead fuel injection device and two US pilots that failed miserably. No current deals exists with any of these operators and not a word from Qsep as to why no further development has taken place with either of them. I know many want to believe KMI is still in the mix but thats highly unlikely. They must have agreed not to say the device failed in exchange for not consummating the contract with consideration but clearly Qsep has not been transparent or forthright in detailing what took place here. Lane had the chance to set it straight when he took the helm but again like the managers before him he took the easy path and stuck with the concocted story line.
“While no commercial contract resulted from testing with TransCanada and Kinder Morgan, there is ample information and and data to show the technology worked but had some glitches. “
Lol! Yeah I say so. Shall we review
1. Tcpl was terminated after 90 days 3 months prior to minimum term. Tao,Qsep and Tcpl mutually agreed test proved nothing and was basically flawed..this is not “ample” data that supports the conclusion.
2. Kmi had more than glitches. Like Tcpl is was ineffective yet the company still spun as effective. It’s BS and nobody buying it.
The same argument was made when Qsep tested at Tcpl! I remember how the idea that Tcpl would need to shut off the line to test therefore this was absolute proof that Aot worked but of course it didn’t and modern pipelines have bypass valves which soon deflated that theory along with the 90 day termination notice.
"Yeah, free samples, not one ton pieces of equipment that risk their pipeline. They test next to none that directly risk their pipeline infrastructure."
Sorry but this is faulty logic. There are pilots that taking place every day for large-scale equipment in safety driven industries that are paid for by the manufacturer. Look at aviation,mining, utilities, the list is endless. The excuse that the size or the rigors of market entry somehow validate Qsep product or service BEFORE THEY ACTUALLY GET A PAID CONTRACT is convoluted at best. The size of or expense of the equipment or safety of such installation doesn't prove it's effectiveness or demonstrate a benefit that industry can see, smell, and touch. So far only Tao and Qsep claim AOT has some fantastic benefit that they only see...which does not a legitimate company make. Given the company history of not being able to execute any one of its products, its laughable to assume everything is different now. I don't know definitively if QSEP is a charade or a mild deception or management was just plain incompetent...it really doesn't matter. The stock price collapse is there for all to see and QSEP still has no problem with selling equity at a nickel. If these Fortune 500 companies are so interested they would have bought up the company years ago after the first 50% viscosity reduction claim. They didn't because AOT failed and was returned to sender with postage due.
QSEP needs to raise cash to stay operational in order to get to the next stage. Not to just "come up with something to fool investors". Major oil companies don't enter into agreements just so they can help fool a tiny company's investors into giving them enough money to keep their head above water. And, insinuating that shows a complete lack of understanding of the current business and the risks and liabilities of altering a valuable pipeline as well as many other things.
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This company is going to be successful, I have no doubt of that. This US customer is the perfect opportunity to launch QSEP into sales. Anyone still want to bet this technology doesn't work with Rasmussen from TransCanada on the job, and this type of massive opportunity? At this stage having years of perfecting AOT and now Rasmussen's hands on it? Haha, good luck! “
I’ll take that bet all day long! The pseudo scientific data that has been floated for years is just fluffy nonsense that no legitimate professional in the field would find as revolutionary or useful to industry.
The concept of reducing viscosity by simply applying a magnetic field and/or introducing a micro current within a viscous flow is simply unproven even after decades of trying to massage the numbers to fit the company’s agenda and Tao’s ego. Qsep main business objective is to raise cash and then try to come up with something they can pilot test and show investors something tangible they are working on. Make no mistake the primarily objective is to keep kicking the can down the road and pose like they are on to something. Anyone that has followed this company through its twists and bends knows there will be no major revenue for this year or next...and the foreseeable future.
Simple...Qsep needs to soften the blow and get ahead of the fact they don’t have anything concrete in place. It’s the same song and dance investors have been hearing for years and as long as investors swallow the excuse wholeheartedly it will continue.
Insiders selling has nothing to do with this threads discussion which is to point out the continuing saga of managements failure to hit any of its projections it made close to year ago...meanwhile the consumption of cash continues unabated and it’s not even clear how Qsep will pay for any of this pilot installation and retrofitting. Especially after threatening lawsuits from a previous officers. The next shoe to drop will be Temple who will put the squeeze on for its hundreds of thousands of dollars that is currently past due and in default!
10 months ago lane said this:
“. Upon completion and analysis of laboratory testing of sample crude oil, we will meet to discuss analytics, select a pilot project site, define the scope of a post-pilot rollout and execute definitive pilot project contracts. Pilot installation and testing would begin upon contract execution. Based on current timelines and discussions, we are projecting installation of our first pilot test in Q2-Q3 2018, followed by 30 to 60 days of testing to be completed by the end of Q3 2018. Subject to successful testing, we would execute definitive agreements to sell or lease equipment for the expanded rollout as defined in the original LOI in Q4 2018.”
So we are through the first third of Q4 and Qsep once again has failed to meet its timeline projection....wow what a surprise! It’s just like every other claim that the revolving door of executives have made trying to goose the share price so they can off load fresh new shares of convertibles. A company on top of its game would not blow through millions of dollars and make promises for decades that never come true. It’s the delay game in full effect. Based on the company’s own projections the equipment should be up running by Sept 2018 but Qsep is still in the talking stage...ha! This was obviously a preemptive press release to soften the blow of not having this promised pilot up and running prior to the SH meeting. So much for the “busy 2018” and revenue producing contracts!
Another reset spin job. Qsep has shown ever form of this so called technology to everyone that matters and they all passed. Btw a “free” pilot is nothing to get excited about especially since they have had several before and all costs newly, such as installation and maintenance are to be paid for by Qsep. That contract will be a real brain twister! ...ohhh wait there is no contract yet only the promise of an LOI which supports a new MOU that will hopefully pay for Temple’s IOU! Otherwise investors will be FUBAR.
“QS Energy would provide and retain ownership of all AOT equipment at no cost to the operator and pay AOT-related installation and operating costs through the term of the project. The project would be subject to early termination by either party after 6 months of operations. At the end of the initial term, the operator would have the option to extend the project or either purchase equipment or lease equipment under terms to be mutually agreed. “
Lol! First it was Letter of intent and now is a memorandum of understanding?!? What other acronym will be next to describe a non revenue free test that has taken over a year to get to this point which is still nothing definite. The company feeds its loyal with complete nonsense year after year and shareholders eat it up like apple sauce. It’s no wonder the company continued today..financed by dreams of sugar fairies dancing over a pot of gold at the end of of rainbow.
This release is all info that will be shared at the share holders meeting. That’s the big news! They might get a free test which Qsep must pay for and share all the info...oh and Qsep customer can just waltz in and kick the tires! Yeah... I’m believing that...NOT! I wonder if Bigger is still helping the company cause it sounds like he wrote that release.
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Ps, that "erosion of market cap" isn't even that bad lol, especially since the outstanding shares are still relatively low. If the price goes up, that market cap will rebound very quickly since the number of outstanding shares is greater than it was 10 years ago. “
Theory vs facts. The market cap has collapsed Is not bad its horrific. That’s why I included the cap data so it’s as plain as day. I love to see the expressions on investors faces when they hear that gem of an excuse! Wow...
This is what a strong stock looks like. No sells or trading for hours at a time of trading action is exactly what you want to see. QSEP has always been like this, a rare gem. Getting locked by long term holders. Strong stocks don’t dump 100’s of millions in a couple hours. People should learn and understand the difference.
s
Year share common stock
price EOY i/0 marketcap
2009 0.55 71,289,396 $39,209,168
2010 0.54 91,453,194 $49,384,725
2011 0.37 114,273,470 $42,281,184
2012 1.1 143,667,570 $158,034,327
2013 1 176,242,817 $176,242,817
2014 0.42 181,028,244 $76,031,862
2015 0.19 183,831,577 $34,928,000
2016 0.05 192,831,810 $9,641,591
2017 0.18 234,976,907 $42,295,843
2018* 0.09 256,013,515 $23,041,216 * through 2Q
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This is not a "theory" lol. It's fact, plain and simple. The market caps of OTC companies vary, and you have to look at the number of outstanding shares vs their market cap, as I have done. The companies on the OTC range at all market caps, and most of them are more heavily diluted than QSEP”
So share the research if you want to prove the argument. Simply saying you have conducted this exhaustive research does not provide a shred of proof to your theory and I find it hard to believe you adequately sifted through 10000 otc stocks to come to your conclusion. 70% of which reside in the pinks which is not the tier Qsep is in! if your using these pinks as a comparison then it’s not an accurate picture. If I was an investors I would not be taking anyone’s word for it as a matter of fact, especially as I watched ownership get whacked in half and then cut in half again. Remember In 2009 a total of 70M were issued. Today it’s over 250M. a 350% increase. In2009 Cecil said in an interview the company was transitioning to profitability! In 2018 no sales or nonprofits and the company is still looking for another test yet according to the argument Qsep is in great shape with a minimal dilution of ownership and a great management team. How anyone could arrive at that conclusion is beyond comprehension.
"lol. Actually, any educated investor knows that is nothing in the way of existing outstanding shares. Either on the OTC or big boards. Most
OTC companies have billions of shares outstanding. BILLIONS! A simple search will reveal that to be true. As I've said many times now. 250M OS is NOTHING. 300M is nothing. The fact that is assumed that shows a lack of experience."
Again your lecture doesn't provide any factual basis just more of the same theories that investors have heard for many years. Comparing the share structure alone without a market cap analysis would not be adequate to support any of these claims certainly doesn't explain the wasting of 100M dollars in cash and multi decades of time chasing two separate and distinctly different markets.
a Billion shares OTC penny at .001 is a meaningless comparison. QSep has been at this for 20 years, saying dilution has been spread out or worked off is some benefit disregards the opportunity cost of doing business or achieving a reasonable ROI. Heads roll at Big Board companies when numbers and execution don't measure up.Qsep boys get a paid two year holiday. Qsep has been disappointing shareholders since its inception and isn't diluting to finance orders that are stacking up but are diluting to pay overhead and basically keep the dream alive for another roll of the dice. Beside any reasonable executive should be able to secure local lines of credit and not rely 100% on selling convertibles.
Again here are the shares thatw are issued:
Shares + per year %+
2018 256,013,515 21,036,608 8.95%
2017 234,976,907 42,145,097 21.86%
2016 192,831,810 9,000,233 4.90%
2015 183,831,577 2,803,333 1.55%
2014 181,028,244 4,785,427 2.72%
2013 176,242,817 32,575,247 22.67%
2012 143,667,570 29,394,100 25.72%
2011 114,273,470 22,820,276 24.95%
2010 91,453,194 20,163,798 28.28%
2009 71,289,396
“The little amount of dilution that QSEP has seen has been spread out over more than a decade and is already out of the market and into strong hands now. It's why most of the float is completely locked up by strong holders ???? “
Well that’s factually incorrect. 9 years ago the shares were 70M. The company has diluted an additional 180M shares since then! That is not an insignificant number by any stretch nor is stopping anytime soon.
“In fact, probably the best trading strategy I've seen is people watch closely to see when a bout of dilution is coming to an end and buy the stock and guy's I know make 600% in a day doing that. It's how I took one stock from .01 to .10 in a few days once. You simply do not see any of that on QSEP.”
Well the “bout” of dilution has been twenty years in the making for old Qsep and that train ain’t ending anytime soon. The obligations and the cash requirements are easy to calculate for anyone that actually wants an impartial view of the situation..so the idea that the Qsep equity fire sale it’s all about to end soon is another in a long line of never ending “pipe” dreams that’s been floated here for years..seemingly without regard for the companies actually product efficacy and numerous failures that liter Qsep corrugated warehouse.
The lure of huge daily returns mentioned is salacious but is statistically improbable. Even more so with Qsep who has stumbled through a half dozen management resets and unable to make any product that would be commensurate with huge gains.
Private business does not get 10 chances at creating a company that can generate sales. Nor are they afforded unending supply of public funds to play the lotto everyday and take international road trips to flog more paper. Qsep has blown every opportunity to prove its product(s) actually provide a benefit. Lane maybe a great addition and his board ready to roll but the company’s product must prove they work and categorically they have not.
“There's no meaningful dilution, and the vast majority of shares are held by very tight hands as I've been talking about for years. Imo if we the shareholders stay off the offer and don't sell...watch it runnnnnnn to $1.00 and and beyond. “
Absurd conclusion not based any facts. Dilution is running at double digits and that will continue for the foreseeable future. The common will easily top 300 million in just another quarter or two! That’s what this company does very well...sell paper.
Qsep execs must believe its investors are incapable of math and cannot calculate the cash requirement even if it’s all there in the public disclosures.
Wait until shareholder find out how the preferred shares are going to be used and the conversion ratio.
Really? Well then provide the link that shows Aramco execs praising Aot or Tao’s theories. Spare me the Iraqi graduate student who conducted her own version of the Tao’s beaker test which she added nano silicate to the mix! Please feel free to link any commercial application that ANY industry is using which is derived from Tao’s pseudo science and ridiculous conclusions.
People must realize that when a professor says he has discovered
a phenomenon such as the reduction of turbulence within a high volume flow by the simple application of micro amps then the world would immediately take notice. They haven’t!
Tao claims that the pressure spike accompanied by said turbulence is drastically reduced. This is absurd a violation of know physical laws yet Tao remains the leading scientific inventor of Qsep with zero product success. Rasmussen even
Commented that the DRA aspect of Aot isn’t significant.I would have fired Tao right after Tcpl but Qsep needs him for his stamp of approval. It’s shameful. I ask for a refund!!
Verified and approved yet zero sales! Hahaha!!!! I wonder how many years investors will continue to be spoonfed lies and fake potential.
Tao is no great scientist he chairs a college dept big whoop! I challenge anyone to show me a single product anywhere that’s sold in the market that’s based on any of his many whacky theories. It doesn’t exist because he is a college prof not trained in the art of adapting theories to industry or on how to recognize when a lab effect isn’t a significant result or impossible to implement like 1000 ft tornado walls! That little detail didn’t stop him! That means the old greenback is a deciding factor in Tao’s decision making brain. Without his stamp of approval this the game would have ended years ago! Sadly he keeps the charade going by his ridiculous claims and reintroduction of all his dated papers and conclusions. If any of his work was properly peer reviewed and evaluated by US oilco then the pps would a fraction. Basically the death of Tcpl and Km is confirmation of exactly that. The two most important potential customers have left the building.
Gavin publishing is a predatory journal looking to take money from anyone that’s interested getting its work published no matter if it’s legitimate or not. Posting it shows how little background digging was done to dig it out and thus another in a long line fake information to sway what ever investors might be left. A cursory examination of reviews clearly show this outfit to be another pay to publish scheme to generate fees. Too bad Qsep doesn’t have the same model! Apparently Tao does!
Saudi experts have nothing to do will millions in burned up green backs chasing pseudo auto devices that attached a magnet to a vehicle and now to s pipeline! Btw the oil industry “experts” are in the US. It’s make no sense to jump a flight to Riyadh.
Any oil technology development worth it’s salt was developed by large Oil outfits located right here!
The penny’s in need of fake legitimacy will actively promote via these “off shore” opportunities ad it’s only avenue not subject to Joe Blow driving down and checking it out. . It’s as if Qsep believes it’s loyal investor will keep believing...no matter what play they try to rerun! Pathetic.
“The funds raised were used to develop the PROVEN AOT. “
Factually that’s incorrect and by all estimates over half of the current loss is attributed to the several generation of auto and truck devices too numerous to list here. Heck they spend one million for the Rand test which found all the predecessor devices were ineffective. So while there is mention of Aot in early 2006 docs it’s way down the list of markets they were chasing. Arguably 50 million in accumulated debt at that point so the actual deficit cost through 2013 for auto devices is much higher. These are the facts. Anyone is free to look up the various 10k and work it out. Posting that the majority of cash was used for Aot is just flat out wrong. Qsep/STWA spent most of the money on overhead with high salaries and high dollar rent in Santa Barbara with extra facilities in Morgan hill. Not to mention the and bus load of consultants!