QS Energy Inc
For the period ended Sep 30, 2024. Filed Nov 14, 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.
Sep 30, 2024 · Filed Nov 14, 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
| Nine months ended | ||
|---|---|---|
| September 30, | ||
| 2024 | 2023 | |
| Cash flows from Operating Activities | ||
| Net loss | $(1,147,000) | $(919,000) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Fair value of options and warrants issued as compensation | 32,000 | 34,000 |
| Fair value of common stock issued as compensation | 18,000 | – |
| Fair value of common stock for services | 140,000 | – |
| Amortization of debt discount | 50,000 | 90,000 |
| Accrued interest expense | 160,000 | 137,000 |
| Depreciation | 1,000 | 3,000 |
| Gain on partial forgiveness of PPP note payable | – | – |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other assets | 1,000 | (6,000) |
| Lease right of use asset | – | |
| Accounts payable – license agreements | 176,000 | 177,000 |
| Accounts payable and accrued expenses | (20,000) | (7,000) |
| Lease liabilities | – | – |
| Net cash used in operating activities | (589,000) | (491,000) |
| Cash flows from investing activities | ||
| Purchase of property and equipment | – | – |
| Net cash used in investing activities | – | – |
| Cash flows from financing activities | ||
| Net proceeds from issuance of convertible notes and warrants | 775,000 | 533,000 |
| Net proceeds from issuance of warrants and options | – | 50,000 |
| Principal payment on PPP loan payable | (19,000) | (11,000) |
| Net cash provided by financing activities | 756,000 | 572,000 |
| Net increase in cash | 167,000 | 81,000 |
| Cash, beginning of period | 70,000 | 133,000 |
| Cash, end of period | $237,000 | $214,000 |
| Supplemental disclosures of cash flow information | ||
| Cash paid during the year for: | ||
| Interest | $– | $– |
| Income Taxes | $1,600 | $1,600 |
| Non-cash investing and financing activities | ||
| Conversion of convertible notes and accrued interest to common stock | $255,000 | $253,000 |
| Value of warrants issued with convertible notes | $424,000 | $231,000 |
**QS ENERGY, INC.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.