QS Energy Inc (QSEP)

[vraiment]

Warrants are indeed exercised but a payment has to be made, and on the last round of options it was 30 cents a share.

I agree that not to pay 30 cents for shares that were trading at the time for over $1 would be a bit crazy, but whether or not they were all taken up I don't know. I don't think these warrants were held by just one person, and it may be that some people did not have the cash liquidity to pay for them.

But as I say, I have not been able to find any information on this. All that I do know for sure is that according to STWA's SEC filings, 1,951,132 were available to be exercised before July 31st 2013.