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Because the oil is flowing very slowly in laminar fashion through the AOT during treatment on an actual pipeline, the successful hydrostatic test at 40KV while the oil is static is more representative of actual pipeline conditions than one might think. This is a big deal. “
The Aot is always been shown situated close to the output side of several 3500 hp centrifugal pumps which can be easily calculated with a Reynolds’s number equation as being turbulent (>2000)Very little argument on that fact…slowing the flow down would defeat the purpose of using Aot in the first place and adding more chambers was just to accommodate the volume of flow so it’s didn’t roadblock the line! What is alluded to here is the alleged turbulence reduction qualities of the magic white pipe. This was concocted by Tao who dug through his data and cooked up that little gem! Now the company could say the Aot solves all pipeline flow issues. It’s just another lie by a pay to publish Prof.
“NOTABLE ACCOMPLISHMENTS
“Demonstrated that a fully assembled AOT would operate at target electric field strength and more.”
Another blatant lie…they filled the vessel with oil that was static. Pipeline operates at 5mph flow velocity under churning turbulent flow conditions. It’s great it didn’t blowup but it didn’t prove anything. This whole play play of them fixing the magic pipe is now getting comical! The picture of the volt meter is classic like that’s some sort of validation. The is as smarmy as it gets!
“Sufficient capital raised from our investor community to maintain operations.”
Sufficient? They are always struggling to pay the most basic expenses as they continued to finance by wholesaling off ownership to the lowest bidder!
“We have been in anticipation of a letter of intent/memorandum of understanding for the past few months. Needless to say, we are proud to state we have made meaningful progress with a new potential partner whilst promoting renewed interest from our previous development partner. Our confidence supports the formalities of these engagements will be secured in the coming weeks."
Word salad for we don’t have anything yet….
So then reporting this in public disclosures is just a fancy charade? Well according to that brilliant theory why would they impose a 10% “penalty” interest charge?They could have just let it ride but they didn’t. Why haven’t the past due note holders simply taking shares?
Licensing a technology that has no value in a feeble attempt to buy legitimacy will eventually turn toxic. Not to mention the fact they are years past due on $1.8M in back licensing maintenance fees and only has 120M shares left to issue. The interest alone on this and past due convertible notes is now a significant chunk of chance. Add that to the $187k plus interest a year they pay to Temple and it’s relatively easy to predict what comes next. So I expect a .5 billion share increase shareholder proposal and major dilution going forward.
As of March 31, 2023 and December 31, 2022, total unpaid fees due to Temple pursuant to these agreements are $2,021,000 and $1,962,000, respectively, which are included as part of Accounts Payable – license agreements in the accompanying condensed consolidated balance sheets. With regards to the unpaid fees to Temple, a total of $135,000 are deferred until such time the Company achieves a revenue milestone of $835,000 or upon termination of the licensing agreements and the remaining $1,886,000 are deemed past due.
Pundits that say Qsep technology is “proven” are intentionally misleading the board in an effort to save a sinking ship. The SEC has been clear. Qsep cannot say promote or claim that it’s device works to any level of efficacy. How pathetic must one be to continually fabricate reality for years in an effort to help a company be perceived as valuable when in reality they are insolvent with zero opportunities brewing anywhere. They had to expend their entire war chest on a paid test which failed miserably like all before yet it’s loyal following disregards any event that cannot be spun as the next great opportunity!
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Maybe this crowding of the road makes
Updates a bit difficult to slot in ?”
Yeah that must be the reason the company hasn’t been able to get its device to prove its operational efficacy . I mean it’s not like it’s taken a decade…oh wait
“. We have reopened discussions with our original development partner as well as reaching out to others. While we have tested with a representative oil sample, we have not yet reached an agreement with a development partner allowing us to test a development partner's actual pipeline oil as a prelude to another field test. Our efforts continue to reach agreement with a suitable development partner as our next step to develop and commercialize our AOT technology In this regard, we have completed two engineering reviews, but as of the date of the filing of this 10-Q have not reached an agreement with a development partner.”
This isn’t the report you would expect from a company about to change the oil transport industry with new physics! They will not get a test unless they pay for it…so unless they raise another 1M Aot will sit in Tomball.
How does it have tremendous potential? Do you believe the hype that the AOT conjures up magical new physics by simply running a low amp current through a pressurized turbulent flow of a multi batched flammable feedstock?No operator in the world is going to look twice at these guys without months of 24/all weather field testing and a boatload of data that supports its claims. Remember when a theory is based on vague principals it’s impossible to disprove. Apply this to all of Qsep’s claims. Ambiguity is the companies motif operandi
Remember those that said this was going way higher without regard to the companies financials woes…their motivation is always pure greed.
How’s that gpft call working out for you?
Blackrock involvement isn’t helping
Also incredibly smart
Pundits spread lies and tell you they understand how to read disclosures in vain attempt to save a sinking ship! Here what self appointed experts believe is Temple writhing off $1.8M in licensing fees! 135k deferment of fees executed masterfully by the former CFO McMullen who btw is still owed back salary along with Bigger…but I’m sure they too will just “write it off” hahahahahaha!!!!!!!!!!!!!
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NOW, THEREFORE , in consideration of the premises and of the covenants and obligations hereinafter set forth, the parties, intending to be legally bound, hereby agree to amend Agreement as follows:
1. Pursuant to Article 5.3, one hundred thirty-five thousand dollars ($135,000) is due Temple from QS Energy (“Outstanding Fees”). The parties have agreed to defer the Outstanding Fees until the first occurrence of either:
a. LICENSEE’s receipt of cumulative SALES equal to or exceeding eight hundred thirty-five thousand dollars ($835,000); or
b. LICENSEE enters into a SUBLICENSE pursuant to Article 11.
2. The Outstanding Fees shall be subject to a nine percent (9%) interest rate accruing as-of June 1, 2017, calculated annually based on the amount due in the prior year and the total interest shall be added to the amount due Temple.
3. The license maintenance fee of sixty-two thousand five hundred dollars ($62,500) due August 1, 2017 shall be due within five (5) business days of the execution of this Amendment and due annually thereafter on June 1 st .
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Pundits want you to believe these obligations will be magically “written off” but fortunately logic hasn’t completely left the building! Add these to the $1.7 M they owe in arrears to Temple and add 10% interest -it’s easy to see why this comes is a steaming pile of dogcrap! Out of money, Ideas, and altitude…
2022-10k
The Company’s contractual commitments for future periods, including minimum guaranteed compensation payments and other agreements as described in the following table and associated footnotes:
Year ending
December 31, License
Agreements (1) Compensation
Agreements Total
Obligations
2023 $ 187,500 $ 197,000 $ 384,500
2024 187,500 – 187,500
2025 187,500 – 187,500
2026 187,500 – 187,500
2027 187,500 $ – 187,500
Total $ 937,500 $ 197,000 $ 1,134,500
___________________
(1) Consists of license maintenance fees to Temple University in the amount of $187,500 paid annually through the life of the underlying patents or until otherwise terminated by either party. For details of the Temple Licensing Agreements, see Note 7 of the Financial Statements, attached hereto.
“Non issue as it will get written off just like what happened in the past. I'm glad I know how to how read & understand public filings that are in simple English. “
Hahahaha!!!! Patently false no licensing fee has EVER been written off. A few hundred thousand dollar amount was “deferred” until Qsep achieve a certain level of production but that it’s still due This was the CFO posing like he was doing something with a three card Monty financial strategy! They continue today to incur a year licensing maintenance fee of 187k per year ever year plus interests and that fact not a “non issue”
Yes. The fuel injection license makes up over a 100k of the $187 in yearly maintenance fees! Why that didn’t get cancelled a decade ago is a mystery to me…now the total past due licensing fees exceeds $1.7M with a 10% annual vig!
“Well... they did need to figure out... how to make it a success commercially too!
To me, all the insider buying the past 8 years has been a ding ding ding ding that there is a true belief
that this will work out great some day!
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Seriously? The only ding ding I’m hearing is the exit door bell going off when another Qsep investor finally accepts the factual reality of this companies year over year epic failure & sells!. We all have made the same mistake, so it is nothing to be ashamed of…but here the disclosures clearly show a history of incompetence and a willingness to fabricate elaborate stories of imminent success. All sequentially fail! Not once not twice….every single attempt since company inception in 1998! In fact Cecil himself promised profitability on one of the QSEP's whacky fuel injection devices over a decade + ago! As for insider purchases they are minuscule. A few hundred thousand dollars. It’s not a major deep pocket investor oilman stepping up and financing the entire operation with a $5M cash infusion. Company is insolvent and on life support. This is not conjecture, the cash position as of the the last 10k shows qsep now need to raise more money just to be able pay the minimum operating costs. At 77k a month cash burn they will need to sell 2.6M shares per month to keep the light(s)on. This is the way…
Fox should have gone to trial and fought but Murdoch would sell his children to make a buck but this move will tarnish Fox forever….time for a new network! Tucker now will be one larger than life and unchained by corporate bullshit! Libs will not know what to do or how to stop him…
Fox gets crushed without Tucker….
It’s amazing what they can get away with…
Annual report is out on the site. As expected dismal results…
where did all the promoters go??
Well financials are there but it’s all bad so I get why they don’t want to report…
It’s a comedy
Form 15 12g is company going dark?
“The FACT is the company is NOW paying LESS rent compared to the past. The FACT is QS isn't running out of funds, despite the LIES told over 20 years.”
Less rent for a pobox and a shed? That’s some great logic to adopt the brand image strategy of $.0001nano penny that reversed into a weed company- it’s Brilliant…it should fly really well with Energy & pipeline operators flocking to buy the great magic white pipe!
As far as Qsep running out money they have done it consistently every year. That’s why they are cutting costs have 2 employees and not paying obligations from previous previous CEOs. They also are not paying the license to Temple which controls their entire business model. It’s a fools strategy to argue the point that they didn’t run out completely and still survive. There are lots of otc zombie that continue to cling to life.
Fun facts: past due Licensing fees alone represent almost 2M collecting 200k in interest plus 187k in additional reoccurring fees imposed by Temple. So without touching the original past due licensing fees. The interest and ongoing maintenance fees is over a $1000 a day expense. Not including the 200k they owe to Bigger 20k they owe to Lane and the huge past due interest on notes. Add other obligations and unpaid bills and this company is as insolvent as it comes….but yet they still breath. Not one of my key metrics to measure success but I am certain even if the company gets a contract to test tomorrow they would be years away from from bringing anything of value to the market.
Yeah well I like material numbers…last reported the company did only 29k in sales for the first half of 2022 as compared to the previous year of over 400k. The 2022 CGS is 8 x sales! How many “manufacturers” throw in fixed cost with a variable expense? It’s like they think nobody will look….mall attorney Fuzzy Math!
“Included in cost of goods sold are plant operation and other direct overhead expenses incurred to maintain our production facilities. These fixed carrying costs affect our gross margin more significantly at lower revenues than at our anticipated full operating activity levels. When inspecting inventory this quarter, we found some inventory was damaged, which necessitated a $68,500 reduction in inventory. Most of the product was salvageable and will be ready for resale in August 2022.”
Drop dead date is Tuesday
Nobody is making any big moves until after the 10k spells out the real situation on the ground.
The fact that they have been late on every 10K&Q filed over the last 24 months does not show a company that is killing it. Revs have collapsed & the company doesn’t have the cash flow to support its acquisition plans nor it’s much promoted desert property land development & buildout. Rome was built in a shorter period of time!
Company needs to provide clarity on funding and sales development & have a proper shareholders meeting so investors can ask real questions of management.
Based on what? There is no metric that would support that conclusion
10k will show mounting expenses and another lackluster sales of a few grand a month. Opportunist spamming boards to try to pump this zombie ticker while the Mall Attorneys run every conceivable expense through the corp..Ojibwa is a machine for promotion to entice morons to buy garbage! Pathetic
Blackrock will keep it pumped up. Divest blackrock!
Last MRQ company did 3K for the quarter in sales…lost 700k so all the product pumping I’m seeing from a few is really very old news. The thc lotion has been on the market for a long time. It’s didn’t pass the smell test!
Cecil personal staff… the bigger question: is qsep now a virtual company with basically a shed and a P.O. Box?I’m betting Cecil isn’t moving to Tomball anytime soon so how is that going to work out? If the company actually had an annual shareholders meetings within the last few years than those holding shares could actually ask questions!
Apparently a perfect spot is available for Qsep HQ in Tomball at $1.87sqft. I wonder how much the “New landlord” is asking for the single space addition that houses the single Aot? $1200 a month ain’t gonna cut it….especially when you owe the previous CEO 19k! I notice Cecil never gets stiffed!
https://www.loopnet.com/property/23902-fm-2978-rd-tomball-tx-77375/48201-0352940000436/
When pundits are found out to be wrong they always default to the same finger pointing…fact remains company is not transparent and has continuously commingled personal business with its operations and now makes another move without explanation. Previous hq space is now rented to Cyn fair health care. The added structure was just a 1500 sq ft corrugated addition to a 5k sqft orig building. We are not talking about about an established lab with R&D and enough warehouse to store its various versions of the great white pipe!
Lane was Qsep CEO renting to facility space to the Corp that he was hired to manage…then Qsep stiffs him for 20K in back rent and plops the debt into AP with the rest of the bills that wont get paid! Why would the new landlord risk another deadbeat tenant???
Pundits that don’t read disclosures are simply blowing hot air.
“Commencing May 1, 2021, the Company agreed to continue to lease a portion of the Tomball facility from the new landlord on a month-to-month basis at $1,000 per month. The Company also rents a storage facility on a month-to-month basis for $250 per month.”
Operative word “new landlord” if Lane or JBL was the previous landlord and the Nevada marina was the current then wouldn’t the landlord in Tomball now be the “previous” landlord????. If it sublease from an existent tenant then that would need to be disclosed. Just another example of the company’s pitiful reporting. Intentionally shrouding the truth with fluffery…
I don’t think he owns the property anymore. 10K refers to “new landlord”without any explanation. The health care company still occupies the original space that was once Qsep HQ.