QS Energy Inc (QSEP)

[valueyoda]

Read section 9 on options and warrants in the 10k. A smaller fraction of the stock options was exercised during the 2011-2013 period, but once you read the comments on warrants that were part of compensation arrangements with consultants and employees, one can see that a much larger fraction has been exercised. Since all warrants are lumped together, it is harder to put an exact number on it.