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Divested the moment they started to meddle…it’s a shame to watch great American brands self destruct…they don’t even see it coming.
Another blown timeline….who would have thought it?
“Takes a day. It’s just a prop so they can have something to report. The paid consultant will cook up something clever like cracks in the insulation or clogging or corroding of the cathode/anode mesh. Guaranteed there will be an issue and if not they will try to spin a .01% efficacy as a meaningful starting point. The 900 lb gorilla in the room is the total lack of or any mention of a system controller or software platform that can manage this great white pipe. Are we to imagine they just tune it with free flowing multi batch viscous crude flowing at full speed with a couple of trim pots?”
Just like clockwork Qsep has an excuse gor blown timelines for every hour of the day!
From 10Q
“While we have missed our projected testing timeline, we are able to report that the manufacturing process is underway. The first step in the process was to have tooling made to cast the resin parts. Tooling has been received and we have inspected the first articles from the casting process. If no further delays occur, we expect the rings to be completed shortly. The screens are also being produced and are expected to be complete shortly.”
He is just another Houston consultant happy to grift dollars from a looser company that is masterful at keeping 2 steps ahead of a total financial collapse. He will get paid…Cecil will get paid…shareholders will get screwed. Btw I wonder where Tao is lately. After all this is his baby! Not a word….what kooky invention will he be promote next after the the great white pipe fails again which will require a decade of new engineering!
How much does this brainiac consultant get paid? Where is his employment contract? Ohhhh it is nowhere to be found in any disclosure so chances are he is getting a boatload of shares because Qsep once again only has a month or two of operating cash…
Takes a day. It’s just a prop so they can have something to report. The paid consultant will cook up something clever like cracks in the insulation or clogging or corroding of the cathode/anode mesh. Guaranteed there will be an issue and if not they will try to spin a .01% efficacy as a meaningful starting point. The 900 lb gorilla in the room is the total lack of or any mention of a system controller or software platform that can manage this great white pipe. Are we to imagine they just tune it with free flowing multi batch viscous crude flowing at full speed with a couple of trim pots?
Tcpl-failed
Kmi-failed
Unknown pay to pump operator- failed
Company is 0-3 with actual verifiable field tests. I don’t even consider China or the other Gov testing site that went belly up! Any private company using their own cash would fixed the problem within a few months but it’s taken QSEP a decade to get to this point!
Lol…
“…2022 we completed the testing of the stack assembly. The stack assembly did not suffer the arcing problems we saw when testing a stack assembly made from parts of the full size AOT. It appears that we have accomplished the goal of eliminating the sources of arcing that prevented us from achieving treatment voltages with this new design. ?“
It “appears” is code for it didn’t blow up! FYI a test with static oil is not a field test of any value. When oil is pressurized and in motion all bets are off. The snail time frame that this company works in just demonstrates how incompetent they are!
“As we have not seen mechanical issues due to flow or pressure a successful hydrostatic test should be a good predictor of a successful field test. “
So the last three field tests failed/ all of which were pressure tested and have ASME veers prior to the operator agreeing to deploy it in a field test yet the update in August claims a hydrostatic would validate the efficacy or Cecil is just saying it won’t blow up! Asking for a friend…
Remember the claims of this company’s technical scientist who reported magically moving viscous crude for $ .002 per barrel!
https://www.qsenergy.com/news/detail/903/new-testing-at-temple-university-shows-stwas-delivers
In his original report, Dr. Tao estimated that substantial cost savings would be generated using the "Pulsed Electric and Magnetic Field" technology, as compared to other methods which add chemicals or gasoline to heavy crude oils. Based on the results of his study it was estimated that for the electric field device, the operation cost is very small. Estimated energy cost for the operation is about 0.01 KW-h/barrel. Therefore, the operation cost is almost negligible. During the tests, flow rate of the oil through the pipeline [using the device] increased by 20%, and viscosity was reduced by more than 30%. These results were achieved without the benefit of additives to the heavy crude and equate to a cost of only $0.002/barrel, as opposed to as much as $20 dollars per barrel in some extraction regions.
“love when I read how one poster mentions going against “mother nature” as if ‘she’ has anything to do with this. It’s the laws of physics which this technology is backed by plenty of extensive studies and is shown effective (a simple online search shows plenty of evidence). The problem has been poor management and shoddy engineering. But I don’t believe that’s the case anymore…which is reasoning to why I said give them a chance. “
There are no real world extensive studies that prove what the company has claimed and for two decades they have been pitching the same snake oil fake science repackaged every 10 years. All of which has produced zero sales. Running a current through oil will only reduce the viscosity by imparting a small amount of heat through joule heating that’s it. There is no magical clumping of matter of which the entirety of this device is based on.
“
SECTION 3 - Securities and Trading Markets
Item 3.03 Material Modification to Rights of Security Holders.
On or about September 21, 2022, the Delaware Secretary of State approved the Corporation’s Certificate of Designation designating a preferred Series A class of stock. The preferred Series A stock carries zero conversion rights and no liquidation preference and expires in seven years, unless renewed by the Board of Directors. The one million (1,000,000) Preferred Series A stock vote with a preference of 67% to the then outstanding common shares as detailed in Exhibit 1.0 attached hereto.
From these 1,000,000 Preferred Series A Shares, Bradley J. Yourist has been issued 250,000 shares and Daniel J. Yourist has been issued 250,000 shares. Each block of Preferred Shares votes at the equivalent of 16.75% of the then outstanding common shares.
The Corporation will provide a complete information statement further detailing these events in the next two weeks.
SECTION 5 – Corporate Governance or Management
Item 5.03 - Amendments to Articles of Incorporation or Bylaws.
On or about October 11, 2022, the Delaware Secretary of State approved the Corporation’s Certificate of Amendment to its Articles of Incorporation amending paragraph IV to increase the authorized common shares to two billion (2,000,000,000) shares and the authorized preferred stock to two million (2,000,000) share as detailed in Exhibit 1.1 attached hereto. No other changes were made.
Item 9.01. Exhibits”
100% increase in share structure and added ownership rights to the Y bros through new preferred shares spells toxic funding coming soon to a theater near you!
2 billion share authorization by the mall attorney brothers! Everyone holding these dog crap shares just got diluted even more….the gift that keeps giving!
Paid consultants are happy to bill the corp for work, especially for companies like Qsep, who haven’t a clue on what to do. This Gallagher guy will make sure it can turn on and on that his long journey will result in getting paid handsomely…that’s it! The actual physics of what the company claims are straight up fabrications and sales puffery. No amount efficacy has ever been proven no matter how many times it’s claimed! Mother Nature cannot suddenly be altered by management to fit the new narrative.
Hydrostatic test take a day to conduct. Aot is above ground which would allow a test team to be mobile making it even easier to pull off. However nothing “Quick Strike” does is quick! The only trial of value would be to put it on a test-loop and pump hydrocarbons through it while its energized! That’s going to take a year more just to get up to the plate. Until then, more of the same!
Bank America cancels a prominent twitter account because of his conservative political views…woke companies think it’s a one way street and they can go full blown commie without any consequences. Divestment is a powerful tool!
Stating that Aot is “proven” is a misrepresentation of the truth. The company has not proven efficacy of its device ever! The only thing they are good at is kicking the can down the road and getting novice investors to believe a fantasy story that it’s device magically reduces viscosity by clumping matter! Any scientist worth their paper degree can spot this a mile away….yet paid pundits pump this stock for decades.
Is this supposedly the unnamed pay to test site that bombed bigger than the KMI and Tcpl tests?
All these fluff releases haven’t translated into sales. In fact basic revenue has plummeted dramatically. These declines are still passed off as the result of a glut in the market a year ago but if the company has established distribution then it’s hard to imagine an 80% drop in sales. Company can not be taken seriously until they explain how and why sales have dropped of the cliff and what they plan to do about it.
Company need 5M not 400K. Problem is they don’t have enough available shares to raise that kind of dough.
This .03 convertible sale just keeps Cecil in his new offices and primes the latest pump which is to easy to foretell…Cecil will 8k that the rig passed the hydro test& pundits will immediately declare victory and proclaim AOT is ready for action but good old mother nature, as always will disagree. Then the company will embark on another redesign and tout all the new interested parties but it will back to square one! This is the value of the company. The ability to stay alive and still cook off other peoples money. Instead of reporting every bolt the 2 man crack engineering team tightens on the Great White Magic Pipe,maybe the spilt duty super man CEO/CFO can develop a finance plan that involves more than hocking convertibles at .03 a share. At 140 million available shares nets them maybe 4M. I’m sure Cecil wants to hit the dilution button and finagles another 500 M shares add to the share structure but he will need a big carrot to pull that off.
Yeah I don’t see the value of buying imaging3 for the shell. It came with a bunch of baggage and debt. YBrothers own most of remaining carcass so all around it’s a long shot for an outside investor. I’m sure the official LA hq office does more than handle the “day to day” volumes of work required to keep this penny alive! The company needs 5M just to sustain operations and stay on track with the real estate development project…which seems perpetually stalled. How long does it take to build out a commercial building ? Y bros need to pull some cash out of their own pockets. Selling convertibles at a penny ain’t going to do it!
In So Cal there are 3 listed dispensaries with only 4 reviews on weed maps! This after being released over 18 months ago. Nobody but a small niche will buy this nonsense..for $60 bucks.
Bigger and Kyte made house calls to solicit investment from doctors and dentist throughout socal. They must have figured they were the easiest mark for selling a fantasy story about how a magic white pipe can change the laws of thermodynamics…
Never happen…at $1 Qsep would have a market cap of 350M! Tao’s 1000 ft Tornado wall has a better shot!
Maybe go back and find out what a “hydro”(water)”static” (not moving)test is actually…they fill the vessel up with water and pressurize. Thats all it is…a freaking leak test!
The reality that management has promoted this as some major milestone defines the Qsep strategy in a nutshell. They keep hope alive without actually proving the device’s efficacy and cloud over any scientific discussion of that pesky law of Mother Nature. It’s the perfect penny for a multi pump and dump scheme that works over and over for decades.
Lol…oil was procured then “pumped into” does not constitute a field test of pumping oil “through” at volumes of 100K barrels per day! Jesus Qsep management must believe it’s investors will believe anything they print!
I remember the excuse from the crack engineering team they last time AOT failed. They said that the operators oil contained higher than expected metal content so I’m sure that issue will raise it’s heads once again. After all the device is a giant capacitor! The disclosures are also very clear, management admits they have not solved the problem or proven the efficacy of its supposed technology. Cecil must find enough dough to pay for a third party evaluation on a real pipeline next but even if reality is bent by a time warp and AOT works tomorrow , the decades of lies by management will take multi millions of dollars to offset. They simply do not have enough cash to get a program like this up and running or enough tending shares to get more…Management simply has no established marketing or sales distribution networks and frankly no experience at selling anything but convertible notes. The fact that Qsep doesn’t find a way to satisfy Temple’s licensing debt tells me they don’t even believe in the tech. Otherwise the company would protect it and not risk loosing it at the ninth hour…
Exactly if they can’t pass a static seal test then it’s game over but in typical Qsep fashion they might as well promote it as a major milestone to juice pps. It’s the way the company has operated for over two decades.Management says little about the next step which is a field test on a loop or an active line. They had to pay 500k for the last one which was unable to stay on without shorting to ground after several attempted engineering fixes. How many more shots does the company get?
Hydrostatic test means nothing it’s another ruse…when they pressurize this giant capacitor with flowing multi batched hydrocarbons it will short again. Like water, electricity always finds its way to ground!
They are paying 125k out of 187k for the fuel injection licensing maintenance fees to Temple per Year! You would think they would try to at least sell it to the auto industry, which still can sell crap products based on psycho science!
Don’t worry most will exit stage left shortly
Believes there are actually people shorting Qsep.
$29k in sales for the first half of 2022 as compared to last 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.”
“______________________
ORDER DECLARING REGISTRATION STATEMENT ABANDONED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
UNITED STATES OF AMERICA BEFORE THE
SECURITIES AND EXCHANGE COMMISSION August 19, 2022
Grapefruit, USA Inc. filed with the Commission a registration statement to register securities under Section 6(a) of the Securities Act of 1933. The registration statement has been on file for more than nine months and has not yet become effective.
Grapefruit USA, Inc. has failed to respond to notice under Rule 479 that the registration statement would be declared abandoned unless it was timely amended or withdrawn;
In view of the foregoing, it is ORDERED that the registration statement be declared abandoned on August 19, 2022.
For the Commission, by the Division of Corporation Finance, pursuant to delegated authority.”
More compliances issues for the Mall Lawyers playing Penny stock magnates!
Actually If you just follow the dollars that the company is raising you find the answer. Company struggles every quarter to make the minimum payments necessary to keep the lights on. They don’t pay Temple’s licensing fee which will be over 2M next year. They didn’t payoff previous CEO who they owe 200. This company now is just a writeoff machine for the wealthy and toy box for the professional pink sheet CEO..Cecil the magnificent. All hail!
Btw no sane minded human executes options that were 400% out of market when the company has clear demonstrated they are not ready for prime time. It’s take years a decade to figure a very basic engineering issue.
Yeah they filed the NT. Nothing says confidence like consecutive late filings.
It’s the same old story. Cecil raises just enough money to keep the story from croaking as he operates free and clear in his own 3500sqft office which I’m sure is being paid monthly on time. The company is insolvent!
Chances of filing a lowly 10q on time just fell exponentially!
Loan to the corp dressed up as options. Company is out of money they need cash to pay rent. Cecil and him must have a “wink wink” deal. Enjoying all the old pundits comments who have been dead wrong on this fleabag now declaring it’s a new day! Meanwhile they need 50-100K per month just to keep the lights on but who cares about the reality of a cash flow statement when you have the Giant Magic White!
It’s not emotions….it’s the assimilation of information and drawing a conclusion based on the fundamentals. TA may catch the s/t trends but the woke leaders action are not based on any real logic and I don’t see how trend analysis will ever see the disruption that’s on the horizon based on illogic actions. No iconic company panders to a very small percentage of consumers at the exclusion of most of its customer base. Disney has change the way it communicates with its base because of the risk of angering a very small but activists group. This is in my view the pure definition of insanity.
End of day tape painting is the primary strategy this company relies on to prop up its pps. Realistically the company should be sub-penny but is artificially pumped up….unfortunately water always finds its level!
Nobody shorts Qsep the margin requirement makes it’s financially a crap shoot with contact exploding dice!