QS Energy Inc
For the period ended Mar 31, 2024. Filed May 15, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 15, 2024
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Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows, Unaudited
| Three months ended | ||
|---|---|---|
| March 31, | ||
| 2024 | 2023 | |
| Cash flows from Operating Activities | ||
| Net loss | $(449,000) | $(334,000) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Fair value of warrants issued as compensation | 5,000 | 9,000 |
| Fair value of common stock issued for services | 140,000 | – |
| Amortization of debt discount | 15,000 | 40,000 |
| Accrued interest expense | 49,000 | 42,000 |
| Depreciation and amortization | 1,000 | 1,000 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 1,000 | 7,000 |
| Accounts payable and accrued expenses | 10,000 | 30,000 |
| Accounts payable – license agreements | 58,000 | 59,000 |
| Net cash used in operating activities | (170,000) | (146,000) |
| Cash flows from financing activities | ||
| Net proceeds from exercise of warrants | 4,000 | 39,000 |
| Net proceeds from issuance of convertible notes and warrants | 181,000 | 90,000 |
| Principal payment on PPP loan payable | (7,000) | (9,000) |
| Net cash provided by financing activities | 178,000 | 120,000 |
| Net increase in cash | 8,000 | (26,000) |
| Cash, beginning of period | 70,000 | 133,000 |
| Cash, end of period | $78,000 | $107,000 |
| Supplemental disclosures of cash flow information | ||
| Cash paid during the year for: | ||
| Interest | $– | $– |
| Income Taxes | $– | $– |
| Non-cash investing and financing activities | ||
| Conversion of convertible notes to common stock | $77,000 | $144,000 |
| Relative fair value of warrants issued with convertible notes | $85,000 | $47,000 |
**QS ENERGY, INC.
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