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Thanks for the stock lecture but pennys don't authorize shares unless they plan to use them to raise cash. The loss of ownership may not happen in today or tomorrow but it's coming.
You guys just got diluted in half and Pom poms are free flowing. I think I'm watching a Natuonal Lampoon movie! I especially like the following lol...shareholders need not worry!! Thanks for the Friday Chuckle!
If Proposal 3 is approved, and except for the issuance of stock options under the Company’s existing Director Compensation Policy, any issuance of common or preferred shares of the Company shall require unanimous approval of the Board. Notwithstanding, the Company’s CEO, Jason Lane, exercising his business judgment, will be permitted to issue common or preferred shares of the Company in furtherance of a commercial transaction, subject to ratification by a majority vote of the Board.
As expected...the common holder gets screwed. Too funny
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The Board of Directors has approved a proposal to amend the Company’s Articles of Incorporation to increase the number of authorized shares of the Company’s common stock from 300 million to 500 million and to create a new class of preferred stock and authorize the Company to issue up to 100 million shares of preferred stock, with such rights and on such terms as the Board of Directors may decide. The proposed amendment would replace the first paragraph of Article Four of the Articles of Incorporation of the Company with the following language"
Please...Al Haig perfected the milking of business with his speciality revolving door policy. Executives know they can make bank by getting on these directorships and improve their appearance as legitimate executives...but it matters little. The name of the game is sales and none of these guys can sell a product that has no useful purpose other than to attract desperate investors. Ackerman could not lift Valiant and that company actually has assets and sales. Qsep has neither and will continue to offer up excuses why it doesn't. They may book some small change for testing but no one is stepping up to the plate to buy these units. Mark this post. In 12 months the same pundits will be claiming that the first contract is just around the corner. When that happens...you'll will know who was right!
Nat gas is a diluent. Why does it or lease condensate need AOT? I can see only one use and that's dewatering or perhaps some mitigation of wax buildup but Aot is not set up for that purpose nor positioned in the market to take advantage of any opportunity.
Honestly new directors mean nothing. They get a million share option at .05 which now looks like a great move... but it's just window dressing. For Lane he is covering his overhead and I would bet the mineral rights business is still his main priority along with five or six other companies bearing the same JBL moniker. I can't imagine when the seasoned oilman can't land a contract what will be the excuse. Start formulating then now before Monday's Q.
Knock yourself out with that type of valuation model. It's a one ticket to oblivion with Qsep. This is a penny long shot that now is getting a little Texas sizzle...but Value like water always finds it level. Qsep has a cloudy cash position and accelerating negative shareholders equity...basically It's that sucking sound getting louder!
First off the details of the de facto merger have not been released so the assertion that his pay is cut is absurd. There are many way to take compensation. The corp isn't pulling up residence in Tomball for nothing. How much rent? Does Lane own the property.
If you want to quote my predictions they are there for the record. Here is another one: There will be zero products sales for 2017. The Kmi contract in its original form is dead. Company is worth 3-4 million as a corporate shell with some tax benefit. Longs are betting the latest mover and shaker can get product placed on lines but that's not what he does. If ever this company's management starts acting like they have real fiduciary duties to protect shareholders interests, I will continue to call out the stink as I smell it...like the last 8k which must have been released to satisfy a troubled auditor. That one smells like rotting COD after 3 day in the sun!
Sure it will! Meanwhile let's see how the new guy handles the 10q on Monday. Maybe shareholders will lucky and they announce that they officially moved to Tomball, Texas!
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There are no arrangements or understandings between Messrs. Buchler and Munn, on the one hand, and any other persons, or the Registrant, on the other hand, pursuant to which each was selected as a director of the Company. Furthermore, the Company has not been since the beginning of the last fiscal year, and is not currently proposed to be, a participant in any related party transactions with Messrs. Buchler or Munn within the meaning of Item 404(a) of Regulation S-K."
Trying to avoid the appearance of impropriety!
Directorship do not legitimize s companies products or services..if so then all the auto pros on the board would have sold boatloads of Elektra or magchr...the results zero.zero!
Qsep has enough dirt on them for all concerned...I need not do anything to smear this companies reputation. It's already know to be a full on scam and continues to try to influence perception by these directorships. Yet no product in the field just empty promises as always. Mark this post! 2017 will not produce a single production contract with Kmi or anyone else. Best case scenario will be more tests or new variation of its useless products but always zero sales.
It's also curious the company doesn't even have the decency to explain the effective merging of JBL and Qsep...and that pundits don't care!
Management is happy. It's directives use blogs and boards to spread fake rumors because they don't have a product to sell and don't have money to give to snakeoil promotional companies. It's the best of both worlds.
I'm going to need stitches after busting a gut laughing so hard! Just another Qsep promoter who believes in Company directed secret sauce to follow the momo...right into the abyss!!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=131111659
>>>Breakout Alert<<<< $QSEP breaks 200 Moving average. L2 looks thin. Running for 3 days. ..Just the start? News pending?
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Nonesense! There are no contracts other than some new mini lab test that they may or may not get small fee for. Meanwhile the company needs 189k a month to pay its current bills and contract obligations.
Here is what the 10K says.
In February 2016, the modified AOT equipment was installed at Kinder Morgan’s facility. Pre-acceptance testing was performed in April 2016, culminating in more than 24 hours of continuous operations. In-field viscosity measurements and pipeline data collected during this test indicated the AOT equipment operated as expected, resulting in viscosity reductions equivalent to those measured under laboratory conditions. Supervisory Control And Data Acquisition (“SCADA”) pipeline operating data collected by Kinder Morgan during this test indicated a pipeline pressure drop reduction consistent with expectations. Kinder Morgan provided the Company with a number of additional crude oil samples which were tested in the laboratory for future test correlation and operational planning purposes. Based on final analysis of in field test results, SCADA operating data and subsequent analysis of crude oil samples at Temple University, Kinder Morgan and QS Energy are considering moving the AOT test facility to a different, higher-volume pipeline location.
Fantasy!
Analysis paralysis....wow. Qsep is free to chase any business they see fit. Kmi is not the only game in town. if Qsep saw great results they would take it everywhere. It's not. There is some additional testing on a new lab device that no one has seen but one thing is clear this company is years from generating any significant revenue. The problem is and remains money! Especially with these absurd payouts. If Lane is to right the ship he should address this issues.
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Imo the reason why the conversion of prospects to clients hasn't happened yet is bc AOT only just had their first successful test on a commercial pipeline with Kinder Morgan, and if you recall it was Kinder Morgan who verified the test results. According to IR over at QSEP, interest from additional oil companies seriously blossomed after the test results from the Kinder Morgan test were made public. "
Unsubstantiated! KMI has never verified anything. No public info on the details test are available beyond saying they ran it for 24 hours. Most importantly they have not agreed to even formally accept the equipment under the original terms of the lease! Qsep promoters gleefully shoot out NRs on the new CEOs fine pedigree but they cant come clean on the contract status which is of great imports since to investors. This is the 900 ton King Kong in the room!
Pundits speak of lease condensate as if it was mid stream heavy crude. It is not. Investor need to understand the differences as the material pumped through Kmi lines is a diluent. It's Reynolds numbers would go up even further with a additional viscosity reduction. Besides If Kmi has proven the efficacy and positive benefit where is the freaking lease check for 20k a month? Working toward acceptance is a BS excuse. When Kmi pulls out I'll bet it's get glossed over in a matter of days.
Yeah secret sauce! Lolololol!
5 day RSI went overbought yesterday and today MACD crossed down...TA will be meaningless when everyone finds out the so-called "news" is going to be all uninspiring! I'll bet Qsep convertible note holders are tickled pink! They might get out with a little pyramid money.
Aot or any other product Qsep has fielded is NOT disruptive by any means. Implying so is just more company directed fluffery. Shareholders should be insulted by the insinuation that Qsep has a product that will change the industry. Qsep is a one horse pony based on selling dreams not useful products. The only disruption will be when they run out of benefactors willing to throw away money.
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Wrong. Companies don't ONLY raise money for these reasons, there are many more. THEY ALSO RAISE MONEY FOR START UP WAYYY BEFORE ANY SALES AND PROFITABILITY ARE REACHED!
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Amazing! I think many need to warp back to reality as Qsep is 18 years old. It's not a startup, it has churned through 100million and can't even produce an active ongoing test on a commercial pipeline. Basically a failure of the greatest magnitude! They have consistently misrepresented material events and continue to do so today. Executive get golden parachutes for accomplishing nothing and the companies whacky scientist makes claims that defy physics...yet all I hear is praise for how great this company is performing relative to other dogcrap penny's. Hilarious...I wonder what's next after the Q shows no progress on KMI.
"Welcome to world of capitalism and the stock market. 99% of alllll companies small and big board alike go public to do what??
Raise money. "
They raise money to develop and market products through distribution and sales networks to garner sales and increase profitability. They don't raise at historic lows and throw the money away in executive comps and severance when they are barely able to get customers to call them back. They also have debt financing in the form of lines of credit and outline for its investors a cash flow plan that encompass more than the next few weeks of operations!
Qsep relies on investor not reading disclosures or calculating obligation and capital needs. In this
respect the new guy is perfect! Another fast talking salesman that can promote products which either don't exists or are unwanted.
Comparing Uber to Qsep is a distortion on reality. Relying on the notion that other penny's have bilked investors to the same tune...is priceless!
Nope you math is incorrect. As demonstrated and backed up by previously posted disclosures. Qsep spent 58 million dollars on previous wack products and it's insanely high SG&A prior to Aot being an actual product. Since then they have burned another 47 million of which again 70% was comprised of its bloated overhead. The R&D was largely comprised of the ridiculous licensing fee and sponsorship grant. Honestly there no defense of the actions of managmebtmagnebt and directors
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The funds raised were used to develop the PROVEN AOT. Sales of the PROVEN AOT are FAST APPROACHING. The PROVEN AOT is here to stay. This is about the PRESENT, NOW & the FUTURE, not what happened 15 years ago.
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Not true. Investors cash was not predominately used to develop AOT. Here are the facts:
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=6884627-839-484961&type=sect&TabIndex=2&companyid=71342&ppu=%252fdefault.aspx%253fcik%253d1103795
The first mention of Aot is in the 10k 2008 with a one small paragraph:
Applied Oil Technology
The pipeline construction industry in the U.S. was approximately $11 billion in 2007 according to October 27 2008 “Pipeline Construction U.S. Industry Report” from IBIS World. The overall pipeline industry is forecast to grow at 4.7%. Management is in the process of developing more specific analysis of the market for the AOT products.
Accumulated deficit to this point was 42 million.
One year later still barely a mention:
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7158450-834-454438&type=sect&TabIndex=2&companyid=71342&ppu=%252fdefault.aspx%253fcik%253d1103795
Accumulated deficit to this point was 49 Million. Aot doesn't even exist yet.
Then magically in Q1 2010 it becomes one of three of company promoted products!
Aot listed third with the most emphasis placed on its auto device Elektra.
http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?TabIndex=2&FilingID=7260203&companyid=71342&ppu=%252fdefault.aspx%253fcik%253d1103795
Accumulated deficit to this point was 55 Million.
Then in 2011 it becomes one of two product lines as it's legacy products drop like flies!
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7832245-10330-104153&type=sect&TabIndex=2&companyid=71342&ppu=%252fdefault.aspx%253fcik%253d1103795
Accumulated deficit to this point was 58 million and operations costs represents over 70% of this figure!
R and D paled in comparison. So even if one attributed 100% of Qsep resources going forward from 2010, its relatively easy to determine that this company has spent most of its resources on administrative costs like payroll and executive compensations. No legit company blows this kind of wad without nailing down contracts. No legit company would allow the paying of these ridiculous severances with zero attachment to performance.
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And so the charade goes on until we either find out the truth about the efficacy of the technology and we rejoice or QSEP gets to the point where they run out of pundits who are willing to buy shares at $0.05and the SEC shuts the company down. "
SEC won't shut them down unless they resume making false claims in their disclosures. They have since been careful to use vague language in describing key efficacy data and field test results. Words like "believe to,may lead to, encouraged by results, working toward acceptance, blah blah blah...!
If the company had efficacy numbers that could produce a 10% or more savings in power then there would be widespread field testing happening now along with active financing by the interested parties. One would not be able to buy pps for a nickel or have to depend on directors to finance the company. I didn't see Greg Bigger buying shares during his tenure. I doubt the new guy will either...but wait mini Aot on wheels can generate 5k a day in testing fees!!Let's see if the company reports the 50k in the Q due May 15th.
He bought a directorship for 50k to become an insider. Big whoop! Investors are not stupid. 50k or 70k is chump change when the obligation going forward is $6300 a day. That's a conservative estimate.
This is what they owe to the previous flake executive and what they owe in accounts payable and Temples bull crap license fee.
"Everyone knows penny stock is a risk It's as if some are not aware .
Honestly IMO there would be no interest from " ANY " major oil company if they did not think it would work ... I will repeat there would be no interest from "ANY " major oil company if they did not think it would work ... but deep down you all know this ...
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Interest means nothing. It can be fabricated from fluff. In the days of the previous administration majors had to appear like they were open to carbon footprint reduction with so called green technologies. One series of Bp ads cost millions to produce and air. A 220k tryout that lasted a few days and promptly canceled is peanuts.
Tcpl would have exploited the heck out of the results if the device even came close. Instead Tcpl
forced Qsep to release the fact that nothing could be concluded from device. It's meaningless that company comes back and offers up explanations. Tcpl yanked it. It's dead. That's the result of their "interest". Meanwhile... the market will continue to punish the pps. It knows the cash flow numbers I have posted and what commitments are on the books. Although many Qsep pundits don't put much faith in financial disclosures it is the only real measurement of managements effectiveness. My grade for Qsep management:
0.0 Mr Blutarski
189k a month is $6300 a day. That's a giant nut to crack for a nanocap with no sales after 18 years of trying. The numbers don't lie and they have no bias.
Qsep math:
Current liabilities 1.54m
2017 obligation. .727m
Total 2.267m
So 189 k needs to be raised per month to finance Qsep going forward. This does not even contemplate additional R&D or a new lease..just what's current on the books.
189k a month at .05 will require Qsep to sell 45.5m shares a year. Let's just say the tidal wave of dilution just over the horizon is the size of California!
Wow a penny stock that has no patent on its bull crap device. I thought holding a worthless patent was the basis for most of these types of otc scams.
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That's a description of 99% of all OTC companies LOL. QSEP is one of the rare few that actually have a real product and interest from the major oil companies! "
Not surprisingly that's a poor investment strategy as it applies to Qsep who has broken just about every promise made to shareholders it has concocted. This while handsomely paying the inept and in my mind criminal behavior of its executives. All rubber stamped by who every is in power at the time. Yes the otc has its issues but Qsep is a poster boy for bad behavior and deceitful tactics on this exchange.
Chump change. Qseps 100k a month cash drain needs a minimum of 2 million a year in sales just to cover itself. 25k here 25k there ain't cutting the mustard when Qsep burns $400 an hour.
It's impossible to quantify "interest" and that alone is insufficient to keep Qsep afloat. The total lack of real sales milestones tells everybody what they need to know. Qsep is a shell with 50 million NOL. That's the only value that will be available to shareholders if they survive.
"And now a gulf coast oil company and Cenovus have stepped forward, and yet again we see yet another oil company display a willingness to test AOT and pay for the privilege. Why is that?"
The only gig that's paid so far is Tcpl and its long vaporized. Kmi still in limbo land which is as good as dead less the casket. The new mini ford ranger mobile Aot lab has yet to report any sales even though they rcould have reported that info in the subsequent events section of the 10k. They were compelled to offer insight as to the latest .05 new convertibles done in 1stQ so it's curious they didn't report the 25k they were to receive within that time period.
"The only reason I am in this in the first place is because I listened to false information coming from a broker that conned a friend's family into buying millions of shares."
This is standard operating procedure for Qsep paper peddlers. The pattern shows up with anyone I've talked too that owns this garbage and is how I was introduced to the world of University backed pseudoscience and penny stock executive comp schemes . It's always family and friends that are sold a bill of goods and always promised to be getting the inside deal at the best possible opportunity. It's just right around the corner! Fool me once...fool me twice...you know!
If it was me, I'd go see the slime bucket broker and demand to be made whole! Doubt you get it without a fight but you never know until you try.
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Getting the equipment accepted, can just mean getting the equipment accepted for actual testing on Kinder Morgan's condensate line. Under a modified Agreement the AOT could have been accepted for testing without triggering a lease payment. Which is exactly what happened.
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Then the entire legal concept of a contract is thrown out the window. Acceptance is a critical component of a this agreement. Without it there is no contract.
A field test does not take three years to work out the bugs. If it did and Kmi saw something worth pursuing then they would have no problem in paying the 20k a month while they fine tuned the device. If as you suggest, both agreed to change the nature of the agreement and add or change terms beyond what has been disclosed,then this would constitute a material modification of the contract and would require an 8k. Instead...investors got schmaltz!