Qsep must believe its investors can not compare updates. Lane goes from “achievable” installation date of July 2018 to now some unknown date in 2019 which is subject to inspection protocols that are unknown and btw it’s all free! Management in its infinite wisdom releases a picture of the rig on a truck dangled like a piece of meat on a tender hook! Lol!!!! The facts and results are there for all to see!
From December 2018:
“
Upon completion of inspection and testing protocols, the modified AOT was certified for operations and is now ready for delivery to the demonstration site. We expect site preparation (foundation, electrical interconnect, etc.) to begin in January, with delivery, installation and operations to begin shortly thereafter.
“
From October 2018:
“
Although final project terms may vary from those described in the current statement of work, we and the operator have a general understanding that, subject to the execution of a definitive agreement, the demonstration project will operate under an initial term of 36 months, targeting installation in December 2018”
From May 2018 update:
We are continuing to make progress on our 2018 targets for the installation and operation of one or more demonstration projects, with four customers at the site-location phase. In addition, we have begun to build supplemental relationships outside of the midstream market, with gaining interest in trucking and ocean shipping. Once again, we thank you for your support and we look forward to a great year.
From March 2018 update :
“I would like to update you on progress we've made since my previous shareholder update letter. In January, I described three prospective customers considering AOT pilot programs. I am excited to report the first of these three potential pilots has received preliminary approval and has moved from concept to planning phase, targeting pilot installation in July 2018.”
From Jan 2018 update:
“Based on current timelines and discussions, we are projecting installation of our first pilot test in Q2-Q3 2018, followed by 30 to 60 days of testing to be completed by the end of Q3 2018. Subject to successful testing, we would execute definitive agreements to sell or lease equipment for the expanded rollout as defined in the original LOI in Q4 2018.
Based on current discussions with prospective pilot customers, we believe this schedule is achievable, putting us on target to begin commercial deployment by year-end. Armed with pilot project data, we should be positioned for accelerated sales in 2019 and beyond.”
From 2016 Update
“Looking forward to 2017, I'm pleased to say we have three active, collaborative AOT projects on our agenda. The first is documented in the November 28th, 2016 Form 8-K filing which sets forth the stages of AOT testing at the facility of a vertically-integrated company active in Alberta's oil sands region. The initial phase will commence in the first quarter of 2017, with a fully functional laboratory-scale AOT device. The objective is to assess the technical capability of AOT technology under field operating conditions characteristic of the oil sands. Following that process, based on positive results, the next stage would call for a full pump station installation ("Field Test"). Previous viscosity reduction and related tests performed on customer-supplied samples at Temple University's Department of Physics were highly favorable, which led to the current Field Test Agreement.
The second collaborative project involves a trial assessment and then full and potentially sponsored engineering of the AOT-XL, an innovative new addition to our flagship product line. This specially configured, high volume AOT system was developed upon request by the management team at a trusted, long-term collaborative partner within the midstream sector of the domestic energy industry. Designed for very high volume pipeline environments, the AOT-XL is fabricated to meet a target of 25,000 barrels per hour capacity (600,000 bpd). Initial laboratory tests of one of their crude oil samples has also shown favorable results.
The third project is our continuing collaboration with an entity based in the Middle East, one of the largest oil companies in the world. Customer-supplied samples of crude oil are in possession of Dr. Tao's team at Temple University for the full scope of testing and analysis to replicate the efficacy of AOT. The infrastructure of this high-output producer and transporter is massive in scale and could require numerous installations of the AOT technology at strategic points. Our discussions to date have encompassed a variety of deployment scenarios based on the improved flow volume and time-to-market goals of the customer.”
Wow...three active programs
and Zero revenue. Bravo!
From 2015
Quote:
“I am extremely pleased that today we are now in a more advantageous position than at any point in our history. Our commitment to a bifurcated strategy of acquiring undervalued assets while further optimizing our technologies has already opened up new horizon of opportunity, and will undoubtedly drive our expansion throughout 2016.
To date we have identified target acquisitions and hope to complete our first transaction with one of them shortly, subject to our obtaining sufficient acquisition financing. Once the deal has been finalized, QS Energy will have entered a new phase as a profitable and sustainable corporate entity, with the resources and expertise necessary to capitalize on the unique market conditions that only occur in a highly cyclical industry such as the energy sector.”
I wonder what became of the genius “bifurcated" strategy that the current CEO was brought on to implement! Bye bye Felicia!
From 2014 Shareholders letter
Quote:
It is our goal to re-deploy our inventory of AOT equipment with other pipeline operators in North America and internationally through our global business development efforts and our distributorship with Energy Tech Africa which provides us with representation in Africa and the Middle East. Existing and upcoming opportunities for positioning these income-generating assets will afford the Company with the necessary infrastructure venues for the next stage of AOT testing and optimization.
The Company currently owns five AOT pressure vessels; one which has been deployed to Texas under a short-term lease with options to extend the lease or purchase the equipment. This equipment is on schedule to be commissioned and the lease initiated in 2015. The remaining four AOT pressure vessels will be re-deployed either separately or together depending on the target pipeline infrastructure.
All of these objectives which we outlined at last year's Shareholders Meeting have been accomplished according to a pre-determined timeline that was both ambitious and aggressive. We are extremely proud of this effort and the accomplishments of our team and our supply chain partners and customers, given the extremely tight deadlines that all have had to operate under.
Or...they can warehouse them
In Tomball and charge admission to shareholders to come in and “kick the tires”
From 2013
Quote:
"The sophisticated process of designing, engineering and fabricating this innovative flow assurance solution for our customer is nearing completion and will soon be in the field testing on a half-million barrel per day pipeline system in America's heartland," Mr. Bigger commented. "I am delighted with the team's progress and our supply chain's responsiveness and quality of execution. They are truly dedicated professionals doing a job well done, and I wish to thank them and our loyal shareholders for their tireless efforts in seeing this process through. I am humbled and honored by your commitment, thank you."
Except that little detail about sending the magic pipes with a power supply a 100 times too weak! LOL!!!!!
The best comes from Cecil in 2010 shareholder update:
Quote:
"The milestones that we achieved these past twelve months have set up 2011 to be a monumental year," stated Mr. Cecil Bond Kyte, Chairman and CEO of STWA, Inc. "Throughout the course of 2010, we have positioned ourselves to take advantage of the tremendous opportunity that our energy-efficiency technology holds for crude oil transportation and diesel engine efficiency to help meet energy demands and emissions quality standards. We believe that our development of an AOT™ product line has the potential to change how crude oil is transported around the globe, resulting in significant cost savings for pipeline operators, greater safety and a reduction the industry's environmental footprint. I am excited and encouraged by the strides we have made as we get ready to begin our baseline testing in January and enter real-world application with our technology."
9 years later no adoption of any Qsep products of ANY kind. During this time hydrofracking revolutionized US oil production and the markets rallied to all time highs. Pathetically Qsep participated in none of it. Great job crew!
