QS Energy Inc (QSEP)

[alkalinesolution1]

uh, kinda - but the issue is, why would an investor take preferred shares rather than straight equity?

The preferred shares will come with some kind of coupon - some expectation of a cash return on investment.

This is different from public equity.

It simply means that if they manage to raise money through preferred shares, especially if it's an institutional investor, they will have had to sell that investor on the high probability of revenues sometime soon.

In any case, it will still be up in the air until the first contract.