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"Through collaboration with an upstream customer we've established a strong performance benchmark for AOT on oil sands products, achieving results on par with laboratory testing conducted at Temple University by Dr. Rongjia Tao, a leading researcher in the development of technologies based on the use of electrorheological principles," commented Greggory M. Bigger, QS Energy Chief Executive Officer and Chairman. "In the lab, we have routinely attained viscosity reduction of similar degree on super heavy, heavy, and ultra-light crude oils ranging from 15% to more than 40%. Though we are restricted from disclosing specific details of this in-field test, we can report that they correlated well with laboratory results and full-scale testing performed on closed-loop and commercial pipelines."
On April 1, 2017, the Company executed a Separation Agreement and release effective with the Company’s former Chief Executive Officer (CEO). As part of the agreement, the Company agreed to pay the former CEO $580,000 in severance, payable in equal installment over 24 months. In addition, the Company also agreed to continue paying certain expenses for the CEO for 24 months with an estimated cost of $44,000. As a result, the Company accrued the entire $624,000 as of March 31, 2017 which was also reported as part of operating expenses in the accompanying 2017 consolidated statements of operations. As of June 30, 2018 and December 31, 2017, $377,000 and $390,000, respectively, was due to our former CEO which was reported as part of accrued expenses and accounts payable in the accompanying consolidated balance sheet. The Company began deferring payments under the Separation Agreement in January 2018 and is currently in arrears.The former CEO has made demands for all deferred payments and has proposed an amendment to the Separation Agreement that contained terms and conditions that are unacceptable to the Company, and has threatened litigation to recover the deferred payments, future payments due under the Separation Agreement, and damages. The Company has attempted to settle this matter with the former CEO. This matter has not yet been resolved.
Wow...markets hasn’t even closed and pundits are already slapping themselves on the back! Let’s come back in a few days and see where Qsep settles. Months of Lower lows and a 5 month communication blackout and rusting hardware NOT deployed anywhere. Heck at least the algae penny’s have a pool or Frankenstein lab they can point too! It’s green and it’s alive!!!Haha!
lol...the truth isn’t even know about Tcpl or the KM tests and those happened years ago. Heck Tao’s claims of how Tcpl didn’t understand the physics of the super magic pipe and that the huge reductions in crude oil viscosities were achieved with just a few micro amps of electric power, flys in the face of reasonable logic. This is a continent size salesman fluff job that still gets posted on a regular basis. Any expectation that this management crew will suddenly become transparent is just wishful thinking. They won’t change what has worked in the past and that is to show investors a big prop and double speak of numerous opportunities that are cued up. When they disappear (magchgr,Electra, Aot in China, Aot for offshore, Aot condensate et al. Nothing is mentioned. They are purged from the record. 10k and 10q don’t event mention the fuel injection devices which cost over 50 million dollars to develop( 90% was for overhead and executive comps) now R and D expense are dwindling and are compromised mostly of of licensing fees due from the first license agreement they have with Temple.
If anyone here has run a company before the concept of cash preservation ranks high on the priority list. Qsep has burned through so many war chests it’s no wonder they squeaked in passing the last proxy.
Everyone has valid reasons to buy certain equities and I’m sure many at some point have made questionable calls or had apparently good fundamental stocks go sour but Qsep is a different animal all together. They have no real financial plan other than to keep hope alive and raise more convertibles which I’m sure will ratchet up as pps declines. If Qsep had viable technology then industry would have taken a stake and got involved many years ago. They would have several strategic alliances in place, with ongoing customers testing products in the field running 24/7 for months at a time! A 24-48 hour test followed by a termination and suspension does not point to a emerging company about to get market adoption.
Please ..,,nobody is buying the Qsep packaged snake oil anymore. Dilution is only tolerable when the company needs to initially raise money not to use it as the sole source of financing year after year for 20years! Anyone who tell investors it not a big deal or that Qsep is in such a better position then 90% the entire Otc simply doesn’t understand how markets work or is pulling numbers from space...self proclaimed experts loose their shirts all the time!
Here the facts: 30% dilution of share ownership in last 19 months is massive and management is nowhere near finished hocking twofers convertibles @. 05 a share! No prospects of real business means more pain for Longs.
The tier which QSEP trades is the OTCQB with a .01 minimum bid requirement. The claim that QSEP share structure is "solid" would need to show a comparison of all listed equity market caps within the Tier. That info was not provided so its impossible to verify what is claimed simply because the author said it was so. From my perspective, anything north of 10 million dollars is wildly speculative and is subject to continued declines. It's fundamentally water seeking its level once again!
Sano, you seem to claim yourself as some kind of fluid control systems expert, but you lack simple basic knowledge of a working pipeline. Let me explain it to you since either you don't understand, or refuse to believe this very basic fact. The entire leg of the pipeline must be shut down to install the AOT. The significance of the fact there are no shut off valves at the site is that they must shut the oil off either further upstream, or downstream from the pump station. That is not disputable. To top it off I confirmed this with someone that knows the pipeline. I do my due diligence. There are no shut off valves to turn the flow off. I actually think it's laughable that within the same breath you call on the laws of physics, and then turn around and say they could install the AOT system with oil FLOWING! I'm sorry, but I think it's you that does not possess the ability to comprehend a very basic fact. And the fact that you make such an outlandish claim you either just have no common sense, or it's because you have an agenda. Either way, (to borrow your mantra), the laws of physics do not change the facts here.
Qsep is not a real business and has no immediate opportunities to create revenue. This violates just about every financial measurement I would use to evaluate an investment...so no I'm not buying anytime soon nor is any commercial company interested in buying products QSEP makes. This means they will continue to sell convertibles until the overhang weight of these shares becomes unbearable. That is what I believe is happening now.
“That is the current status as far a the Q goes but I wouldn't be surprised to see the company come out with an update soon. A little Patience is a virtue. “
Lol...investors have afforded Qsep 20 years of patience and hundreds of millions of shares in dilution. The updates will come and go and I’m sure the current management will engineer some obscure test well outside the US but it will drag on and on and on! That’s the game but that ploy can’t be effective in today's market with so many other opportunities. The value of Qsep shell is not more than 10M based on what we know up to this point so with 500M common shares authorized and share conversion the only active source of financing, there is still way more downside.
LOI or pilots should not even be mentioned until it happens. The company history has been to always have several layers of promising opportunities but deliver on none of them. Then to add insult to injury, they spin the results as something very positive. It’s just a pathetic ploy to fill the air in between money raises.
Previous management has been given a perpetual free pass and I’m sure the current gang will get the same treatment! Remember Lane was the consultant who was hired to find positive cash flow properties for the now defunct Qspool. This blank check acquisition company was heralded as brilliantly conceived and positioned to take advantage of distressed assets after the oil crash. This would allow Qsep to generate some income while the company struggled to get additional pilots and prove out its devices. This concept was well received and then like all the other products before it fizzled out without much explanation. If the current CEO is such the industry expert then he would have brought them good deals quickly but nothing has been said in that regards. I’m sure the excuse will be pawned off on the previous CEO like it has been done in the past but buying a pizza stand would have at least generated ongoing sales and be worth something at the end of the deal. Also If the company invested just 5% of the money raised they would be sitting on a pile of cash today without a need to blowout equity at historic lows. This is either poor management, the device doesn’t work or both.
“The M&A strategy means that the AOT does not have to work for shareholders to get out alive.
Apologies for the dark subject line. This, however, is a fact: until KM, Newfield, or TC order the equipment, no one, not even Gregg, knows if it's going to be a success.
If it's not, this strategy provides us a way to get some residual value from STWA. It's a buyer's marker with these prices, and huge companies have had massive value knocked out of them due to the drop in oil. $50 a barrel is not going to last forever. If STWA can just get financing, then it will be able to acquire firms and ride out the terrible prices, and come out with value at the end of the process when asset prices go back up.
This is quite comforting - i.e., if this works, then the worst case scenario is still not cataclysmic.
Of course, if AOT works out (we should know within a matter of months, I hope) then the M&A strategy is even better.”
The “accountability” standard continues and unfortunately investors bear some of the blame because these issues are buried under the rug every year with very little objections by investors. Every time the new crew in charge wants to raise money they go back to the well and ask for more shares. The messages of praise and support for this systematic watering down of ownership is almost as bad as toxic financing yet it’s hard to imagine anyone with an investment here authorizing these moves yet Qsep still remains technically insolvent. As long as investors keep taking it on the chin, management will continue to throw sucker punches.
QSEP Dilution Train Keeps a rolling! On pace for another banner year of adding shares and watering down ownership. Last year up 22% Already up another 9% through July 31st, 2018.
total shares shares
issued added percentage change
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
“Personally, I think there is more risk in not owning the stock. But that's me. Best of luck either way.
“
Any modern regression model would not agree. In fact I would put extremely generous odds of qsep ever reaching profitability at less than 5%. Doing so in the next 24 months would a small fraction of this ! The Turkish Lira would be a better bet!
“
I can't believe there is any debate over the technology still. Aren't you the only one still questioning it? Longs please chime in.
“
Lol! This is what was said to all the fresh new investors when management wants to pitch a new round of convertibles and its also what was claimed when Cecil and Bigger were making house calls to extract money from unsuspecting doctors and dentists with its famous friends and family tour.
A cursory examination of the state of the art of modern rheology reveals zero interest in Tao’s theories/claims and the only studies that can be referenced are third world graduate students trying to duplicate Tao’s gravity test. Apparently, something was lost during the English to Arabic translation or was it Russian or Chinese! Ha!!!
Regardless of all of this, logic dictates if the technology was proven it would be on a line making money today. The fact that it is not even close after three top to bottom management resets and six figure severance payouts demonstrates to everyone willing to listen that all is not well with this pseudo technology.
That’s meaningless. He gets paid to be interested. He was also paid as a consultant for the new fangled qspool to find oil and gas assets that could produce positive cash flows that could bolster the companies financial picture. However not a single deal could be made during a period when major declines in oil and gas assets were wide spread.
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Has is been tough sledding? Absolutely. Have they not sold it yet? Absolutely. But there's a huge difference between not performing and not executing and nefariously trying deceive investors. It's not happening.
“
So the last 20 years and 100m dollars consumed is simply management performance issue and the company never lied about any of it’s prospects. That means all of it’s products ever pitched remain revolutionary but just didn’t break through...wow! FYI I can name a half a dozen blatant misrepresentations just off the top of my head. The error in this type of logic is that equating Qsep to a young little startup like comparing apples to oranges. Small start ups are afforded some level of slack for lack of experience. However Qsep has been given a two decade get out of jail card and has taken more swings at bat then 90% of the otc. Not to mention the trifecta of management resets and severance payouts. There is too much opportunity cost in giving this outfit another shot.
“The SEC was thorough with QS, I know that. They (the SEC) obviously went through all the filings and double checked everything QS were saying, and all the SEC came back with was the "proven" terminology. If there was anything deceptive in the Q's or something shady going on with anything the SEC would have uncovered it then. “
No they had numerous other issues with items like patents which were promoted like mad throughout Qsep literature touting the number of patents as some sort of tacit proof of efficacy. The sec called them on it and their lawyers had to agree. The indisputable fact is that Qsep has been unsuccessful at garnering any commercial adoption of any product is developed over the last 20 years. This discussion about whether the current CEO loves the prospects is meaningless. I would ask Bigger if he still feels that way. After all he was rich banker(chuckle) and would never waste his time unless he knew it was a sure thing! Lol!!
“
Lane vetted re company before coming on board, and would never have taken the job if there was any lies or coverups or anything like that. To try and claim that is the case is intentionally lying. Simply absurd this crap. “
Unless you are Karnak with a magic crystal ball no one knows what motivates any Qsep executive or any investors for that matter. Btw the same argument has been made over and over with a hosts of celebrity names and white hot executives. None could land a deal after 20 years burning 100M dollars while diluting its investors to pieces.
No company public or private gets that kind of break.
The lies of previous Qsep management now obviously cannot be easily reversed by Lane and company. His job is simply to firm up the optics and raise more money while remaining pretty much silent. Almost 18 months after taking the helm there is no “free” pilot installed. How tough could it possibly be??? Hey Xyz oilco we at Qsep have a revolutionary magic pipe and will give it to you for free and it will save millions in transportation costs! Interested?
Magnets don’t work on crude, fuel, blood or chocolate. Any suggestion that they do would be an intentional misrepresentation of the companies testing results...which are based on a whacky scientist unverified claims of efficacy and have been clearly noted by the SEC as being: “ unproven” Whether someone is long or short is of no consequence the results will be the same. Company will sell convertibles until they exceed there allotted share issue then they will authorize more! When they do they will use the old poison pill but all of us know no major wants to “takeover” this POS. Just like Qsep will never uplist.
Whacky...yes there is coverup with KMI but you have to dig deep into the releases as Qsep intentionally doesn’t spell it out. Hedge funds have teams that just look through footnotes of releases to dig out the truth. All the info that took down Enron was buried in their disclosures prior the collapse. Qsep does the same albeit on a nano scale. Management feels that the majority of its investors have little understanding of its technology and more importantly its corporate operations so they can put in what ever they want as long as they hide behind a safe harbor.
It’s funny how they all end up at the same crap penny that makes no money. Cecil got a million shares allotment for being on the BOD. These are pathetic hustlers that continue to profited from investors loss. Blum is pushing 80 and you would think he would take the foot off the pedal but like Sheldon and Kyte they must love the money more than being honest and respectable. Any public company hiring these fools without taking note of their performance record is basically at the end of their rope. License to steal!
“The fact that they have 2 new US based oil companies that are interested in an AOT pilot program is good news as far as I'm concerned,
and shareholders should be happy about that new development”
I have heard every excuse this company has put out. It’s simply flawed logic to keep assuming any of these so called pilots will ever produce anything of value. The time for pilots and testing is long gone. If any of these devices based on Tao’s theories worked then they would be deployed today and the company would not be forced selling convertible shares and warrants at .05 cents.
The notion that the company even needs to "come clean" on the KMI contract is a ridiculous one. They have reported the status, and that's where it's at. They aren't lying, or holding something back from shareholders. By law they must be truthful in the Q, or risk penalties. If it was canceled or terminate they would say so just as they did when the TC contract was terminated.
“Marijuana social network operator MassRoots Inc. has dismissed a lawsuit against its founder Isaac Dietrich.
The dismissal comes a week after the company’s board of directors and interim chief executive resigned, and the 25-year-old founder was reappointed CEO and his trio of recommended board members were installed.
The company’s new board members authorized MassRoots lawyers to dismiss the lawsuit with prejudice and release all claims against Dietrich, the new CEO told The Cannabist via email.
The new board of directors consists of Charles R. Blum, 79, a former CEO of QS Energy, a Texas oil and gas technology firm; Cecil Kyte, 46, a former executive with Rightscorp, an L.A.-area copyright enforcement firm; and Nathan Shelton, 68, a former director of QS Energy.
“
Look like Qsep former Directors are all going pot!
Not that I believe the former CEO should receive anything for his poor performance but a breach is a breach. Not much Qsep can do to defend it. A written executed contract is on the books and materially disclosed. This will not take years to resolve. A thousand attorneys will line up to sue on behalf of Bigger and it will cost him nothing while Qsep shareholders will need to finance any defense at a rate of $500 an hour!
Absurd...Qsep has intentionally juggled a gaggle of pans in the air so that investors can’t follow the story. This by design is to confuse those into believing all is well but most investors now realize this compilation of opportunities is just like what has been promised every year for two decades! Basically promise investors the sizzle of a steak but bring them a bowl of steam!
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The Company is currently pursuing AOT testing in several countries in South America related to upstream, midstream, barge, and tanker truck applications. Oil samples from multiple clients for testing at Temple University have been delivered to a shipping facility in South America, awaiting customs and shipping clearance. There is a vast amount of heavy oil in these countries and we believe the Ministers of Hydrocarbons have standing orders to increase production and transportation capacity. We continue to work with an existing client in Asia for an AOT installation; however, progress on this project has slowed from our original targets. A Company representative is scheduled to meet with our Asian client in August 2018 to assess the project.
“
Kicking the can down the road is not a business! Management knows that failure to meet timelines has been happening for years and investors really don’t complain about it. So... they don’t give a crap. China has been mentioned for a decade but not a single dollar has been generated by all the press releases and promotion. The company has failed on every front except raising money through massive dilution and now building a Texas museum for its defunct products. The shameful conduct continues with the latest round of new execs! Honestly I know there are crappier public companies but not by much.
I see no agreement and anything preliminary is “subject to approval” by the players that always remain behind the curtain. Meanwhile the KMI contract produced nothing and still is referred to as a lease in suspension. It’s comical that this supposedly transparent management team simply chooses to toe the party line with this obvious pilot failure and coverup. I for one would not trust these guys with dollar one!
The story is so convoluted the new executive players can’t even keep the names straight so it’s absurd to suggest I’m pulling out only negatives. This 10q released after hours with this news demonstrates that even a reset management team knows how sucky there results are. Mounting losses more debt....now the former CEO savior and chief is about to file a lawsuits for a few hundred k. Apparently he needs his money now...which begs the question why Bigger wouldn’t invest along with the rest of the sure shot board members and various convertible holders. Certainly both MUST know that Qsep is s “sure thing” lol!!!!’Heck I read about “proven” results here every day. Qsep happy to sell convertibles
at .05 all day long. Dilution machine at full throttle!
No surprise that they didn’t come clean on the KMI contract and now expect shareholders just to close their eyes to it all. Pathetic 10q! The could not even follow through with Lanes pilot forecast in July. Only this company can do well is sell .05 shares. So much for the fiduciary fury to keep investors informed. This is giant cream pie and Qsep management is soupy sales!
“The former CEO has made demands for all deferred payments and has proposed an amendment to the Separation Agreement that contained terms and conditions that are unacceptable to the Company, and has threatened litigation to recover the deferred payments, future payments due under the Separation Agreement, and damages. The Company has attempted to settle this matter with the former CEO. This matter has not yet been resolved.
“
lol! Poor Greg must sue to get his severance pay!
Old Qsep excuses never die they just get a face job and then reappear as Zombie replicants! Whether its the fictitious basket of shorters or the lone investor that had to cash out too early, nobody is buying the story these days! Meanwhile, according to the last 10Q they need to raise again this month.
The first commercial aot unit developed by stwa will be going to Kinder Morgan. Here is the press release from 2013
http://ir.stockpr.com/stwa/press-releases/detail/1714/stwa-announces-the-first-commercial-aot-midstream-unit-off-the-assembly-line
Here is the section from the KM 8K. It all matches up :
DESCRIPTION MAKE MANUFACTURER MODEL YEAR Serial # License #
AOT Pressure Vessel 361D-18-VCOF-1200-12 REV 2 Power Service, Inc. 36/1200/12 2013 926 N/A
DC Power Supply LH 19: 6U Rack Mount Glassman HV PS/LH070R072-21 2013 N368284-01 N/A
HV specialty cable HVC050 Glassman HV DS2124 2013 N/A N/A
12" 600# Spool Pieces STWA Industrial Screen & Maintenance, Inc. 12" 600# 2013 N/A N/A
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10103717
Another 56% shorted today. The shorters have been hard at work all week trying to keep the share price down.
http://otcshortreport.com/index.php?index=zero#close
The excuse remains the same. Qsep has successfully discovered how to “Vulcan “ mind-meld with its investors and get them to rationalize the latest management reset.The fact that all previous executives failed to produce any major contract yet were never taken to task is of no concern.
“
So are you worried about Gregg Bigger's compensation package? He is the one and only high paid executive in the company at $290,000 per year and he deserves it. We are not paying a team, it's only Gregg in management. He is likely working 15 hour days, retuning emails at 3am to different countries, 7 days a week, and probably never gets to see his children. You want to get rid of Gregg yeah? Well what other CEO are you going to find to work those hours and devote their life to this and work that many hours? Any CEO worth their salt will want a lot more to do what Gregg is doing. If this is successful and adopted by the oil industry do you really know how much $ the company could stand to make? And if it was told to you that Gregg was mainly responsible for making that happen would you still have a problem with his pay? Ha. Peanuts. He has reduced our expenses, and our burn rate is HUNDREDS OF THOUSANDS less right now than if Cecil was in the chair. His pay will not make or break the company and will not matter either way if we fail or succeed. If you worried about his termination contract ask yourself first why would we want to terminate Gregg? He's the hardest working CEO we've had to date. Imo Gregg knows were are going to be successful, so he negotiated that comp package when he came on board in light of what he knew is coming. He just can't say anything about what is coming because that would be illegal and put our potential contacts at risk. When this comes home you're not going to give a crap about what Gregg's pay is, because the company will be making money and so will you. Gregg is directly responsible for getting us a contract with TransCanada and earning us our first real revenue. We ALL know it WAS and IS Gregg spearheading the sales effort at STWA. Have we seen the fruits of Gregg's labor yet? No. Have we seen the tip of the iceberg with TransCanada? Yes. Things take time in the oil industry with a new tech like this. If you don't want to wait sell your stock and buy something else. Don't sit around posting and complaining all damn day, that won't make the stock go up, I can guarantee you of that. You know what will make the stock go up? Adoption of the AOT by TransCanada and the oil industry. What did you think? That this was going to be easy without time delays or hiccups? That it would be EASY and quick to ride a stock from .25 to $10.00? Think again. If you did then you'd better adjust your expectations. Like Tpsully said, we don't know what's going on behind closed doors, and Gregg said at the shareholder meeting that things would be quiet. I mentioned in my very long and detailed post (up in the stickies section now) and everyone knows that we are on the brink of having a major breakthrough with TransCanada. If one is not willing to wait to see what the outcome of the test is or unhappy with management you should just get out. We don't know what we don't know. I agree with FM- Let management do their job.
“
Top Ten Qsep fluff jobs
10. LOI being translated from English to Arabic for Iraq Basra project. ( must have been in Hieroglyphics)
9.
"People were amazed at the energy savings when we first tested this device. They didn't initially understand the physics," said Tao.”
( did you hear hear that Tcpl engineers?)
8. New Samples are being sent to our crack testing facility at Temple. (Oui vey!)
7. Our NDA prevent the LOI from being released. (So the NDA makes the LOI MIA)
6. Aot has an 11 hour effective treatment time. (Just like an Advil!)
5. “Aot equipment may be moved to a different kmi line however the lease is “ in suspension”. (Lease in suspension would mean a lease actually existed. Where’s the cash?)
4. Although Tcpl contract was official terminated. They still show
“ continued interest”. (No doesn’t mean no!...good luck with that one)
3. Pick one: Kyte,Bigger, Lane will right the ship!
2. Aot also works on diesel, gasoline, condensate, blood and chocolate! ( also great at extracting cash from unsuspecting investors)
1. The chemical companies are in fear of this disruptive tech. (Always make me chuckle!)
Wow a whooping $7500...pretty much kills the notion that there is an abundance of short players in Qsep which has been and continues to be touted for over a decade. The same old excuses are dug each year like brand new episodes of “the walking dead”. The plot is the same. Separate investors from their money.
Management wants its investors to disregard the facts in favor of fantasy.
“
Save The World Air, Inc. (STWA)
735 State Street, Suite 500
Santa Barbara, CA 93101
Attention: Gregg M. Bigger, President & CFO
RE: Contract No. 11124
Equipment Lease / Option to Purchase Agreemen
Notice of Termination Letter for Contract No, 11124
Please be advised that Contract 11124 relating to the Equipment Lease I Option to Purchase Agreement between STWA and TransCanada Keystone Pipelines, LP is being terminated effective October 15th, 2014.
Termination Clause 14
"During the Initial Term, either Party may terminate this Agreement at any time for any reason on ninety (90) days written notice to the other."
The justification for the early termination is due to the project working to expedite the required testing and believes the full term of the lease is unnecessary to successfully complete testing.
Please acknowledge receipt of this letter by signing below and returning one copy to Sheelagh Forsyth at sheelagh_ forsyth@transcanada.com.
Regards,
/s/ Derek Brammer
Derek Brammer
Project Manager, Keystone Pipeline Project
cc: Ben Weber, TransCanada
Sheelagh Forsyth, TransCanada
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Tcpl interest is dead gone to heaven. Kmi contract never incepted but is still promoted as being something meaningful! It’s not... those two opportunities are done! Management continues to view investors as gullible.
“
I think the longer we wait for the next update, the greater chance there is that there is something substantive to it. “
Qsep has disappointed on every sales opportunity or pilot test since day 1. They are so far away from being a “real” business that I would bet the same absurd discussion will be made years from now when they are still trying to get an “offshore” pilot. Laughable!
“
If they had nothing at all to say, they could say it now. If they anticipate having something to actually say, then better to wait until it's finalized and they can say it. That's my read at least. “
Dude...the 10q is 12 days away. Qsep can’t say anything because they don’t have anything. Anything material would be reported within 4 business days. The only 8k that should be filed is the official termination of the KMI contract which is reported as being “ suspended”. This of course would confirm the contract was actually consummated. We all know it wasn’t and is no longer in effect, yet it is continued to be spun as a positive test result. Seriously...I can’t believe KM would actually let this go on but I’m sure they have moved on long ago. New Qsep management can’t just spiff up the corporate optics without coming clean on these main issues. I’m sure investors want to know why this contract wasn’t paid for and is constantly referenced as “Pre acceptance”. Qsep management devoted a whopping one line blip about it in the last 2 q’s effectively continuing the lie. No news....is not good news!
Management must release the reduced fluff 10q by aug 14th. If a revenue generating deal was struck it would have been reported the moment the ink dried but the new crew in town has achieved the immediate goal which was to effectively turn back and reset time like the old professor did to the town clock in “Back to the Future” movie. Investors are now magically teleported back to year 2006 and are now properly conditioned to NOT expect sales/profits and to applaud any free pilot no matter if it’s situated in a South American jungle. It’s like they stumbled on to the “Cease all motor functions” command! lol!!
In a nutshell:
It doesn’t matter if Qsep is a scam or a deception or inept or greedy management. The results are the same. Not a single product based on this supposed technology has ever been sold or is currently under active testing! No contracts long or short are in effect but are always cited as showing proof of efficacy of Tao’s magic pipe. The kmi contract was never executed no matter how many times its reposted. Consideration in the form of lease payments NEVER took place. The company finally disclosed that the contract was in suspension but didn’t offer a reason why nor did they explain why no payment of any kind was ever made! It’s obvious kmi is dead. The only real legal out for kmi is to cancel the contract for lack of performance which they can easily make the case for. I.e. multiple worked and reworked attempts of Its prototype continued to short out. Qsep also would never file suit against kmi for $60k.
Frankly I’m surprised there are not a few hundred investors clamoring for the same info! Qsep hasn’t released an update in months and July is the roll out estimate for its latest pilot charade. (Don’t hold breath) It’s absurd to believe anything this company promises when it’s obvious they can’t even attract s US based energy company and position its product somewhere...anywhere in North America. The jungles of South America offer a thick canopy of cover that would be impossible to pierce and another way Qsep can remain shrouded in secrecy.