QS Energy Inc (QSEP)

[truethat]

Below from the 10Q.

"On July 15, 2014, TransCanada notified the Company of TransCanada’s election to cancel, effective October 15, 2014. In exercising its termination right under the Lease, TransCanada stated “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.” The lease continues to be effective through October 15, 2014, and testing of the Company’s equipment on TransCanada’s pipeline in Wichita, Kansas is ongoing. Data generated by, and results of the testing, have not yet been determined (See Note 8)."

The last few lines from above are most important. I will reprint those important last few lines below from the 10Q.

.” The lease continues to be effective through October 15, 2014, and testing of the Company’s equipment on TransCanada’s pipeline in Wichita, Kansas is ongoing. Data generated by, and results of the testing, have not yet been determined (See Note 8)."

Now the termination letter is for the "TESTING CONTRACT", they do not need to extend it to one of the other time lengths in the contract to get enough data they have surmised. But this also does not mean they will SELL/lease more AOT's to TC. We will have to wait and see.

This board has become very boring except for a few posts.