QS Energy Inc (QSEP)

[FTT007]

Converting Notes and/or Exercising Warrants / Options...

Is NOT an EXPOSE per se.

In fact, it is NORMAL for companies to use these instruments. Convertible notes are used to raise working capital.

As for the conversion of these notes, or the exercising of any options or warrants, as in the case of Mr. Bunting, it is considered a BULLISH sign - especially when no shares are sold.

By all accounts, Mr. Bunting hasn't sold a single share. He currently owns 11,315,222 shares (see his 6-4-2019 FORM 4).

As illustrated in this FORM 4, Mr. Bunting exercised options, warrants, and converted a note for 260,419 shares + 275,000 shares + 733,333 shares, respectively - or, a total of 1,268,752 shares (see Table I). A cash outlay of something like $144,600, which is not much cheaper, if any, than today's average pricing per share. TIMING!

The above share counts correspond to reductions in his "Derivatives Securities Acquired, Disposed of, or Beneficially Owned" balance remaining to convert or exercise (see Table II).

CLEARLY, Mr. Bunting is BULLISH on QS Energy and the eventual commercialization of its AOT technology.