QS Energy Inc (QSEP)

[mr_sano]

“And....NONE of that money. Not ONE cent is due to Temple until QSEP is cash flow positive. Haha. That’s a sweet agreement if I ever saw one. It won’t take hardly any revs to knock that out, and, it’s not due all at once. Just Slowly as revs come in.

NEXT. “

Oppps......looks like a “few cents” are past due!

“
During 2018 the Company paid Temple $10,000 and incurred an additional $230,700 of costs (including the $187,500 license fee and $43,200 of interest). As of December 31, 2018, total unpaid fees due to Temple pursuant to these agreements are $1,073,000, which are included as part of Accounts Payable – license agreements in the accompanying consolidated balance sheets. With regards to the unpaid fees to Temple, a total of $135,000 are deferred until such time the Company achieves a revenue milestone of $835,000 or upon termination of the licensing agreements and the remaining $938,000 are deemed past due. The Company is currently in negotiations with Temple to settle or cure the past due balance.”