QS Energy Inc (QSEP)

[mr_sano]

Pundits spread lies and tell you they understand how to read disclosures in vain attempt to save a sinking ship! Here what self appointed experts believe is Temple writhing off $1.8M in licensing fees! 135k deferment of fees executed masterfully by the former CFO McMullen who btw is still owed back salary along with Bigger…but I’m sure they too will just “write it off” hahahahahaha!!!!!!!!!!!!!

“
NOW, THEREFORE , in consideration of the premises and of the covenants and obligations hereinafter set forth, the parties, intending to be legally bound, hereby agree to amend Agreement as follows:

1. Pursuant to Article 5.3, one hundred thirty-five thousand dollars ($135,000) is due Temple from QS Energy (“Outstanding Fees”). The parties have agreed to defer the Outstanding Fees until the first occurrence of either:

a. LICENSEE’s receipt of cumulative SALES equal to or exceeding eight hundred thirty-five thousand dollars ($835,000); or

b. LICENSEE enters into a SUBLICENSE pursuant to Article 11.

2. The Outstanding Fees shall be subject to a nine percent (9%) interest rate accruing as-of June 1, 2017, calculated annually based on the amount due in the prior year and the total interest shall be added to the amount due Temple.

3. The license maintenance fee of sixty-two thousand five hundred dollars ($62,500) due August 1, 2017 shall be due within five (5) business days of the execution of this Amendment and due annually thereafter on June 1 st .

“