QS Energy Inc (QSEP)

[mr_sano]

“Operating expenses were $493,000 for the three-month period ended September 30, 2019, compared to $431,000 for the three-month period ended September 30, 2018, an increase of $62,000. This is due to a decrease in non-cash expenses of $16,000, and an increase in cash expenses of $78,000. Specifically, the increase in non-cash expenses is attributable to decreases in depreciation of $2,000, stock compensation expenses attributable to the fair value of options granted to directors and employees of $13,000, and expenses attributable to the fair value of common stock and warrants issued as compensation for services of $1,000. The increase in cash expense is attributable increases in consulting fees of $45,000, insurance expense of $26,000, office expenses of $2,000, investor and public relations of $14,000, rent and utilities of $11,000, and travel expenses of $9,000, offset by a decrease in salaries and benefits of $6,000, legal and accounting fees of $21,000, and other operating expenses of $2,000.”

Apparently CEO rental agreement for his building just got bumped without reporting it! 11k increase!