QS Energy, Inc.
For the period ended Dec 31, 2024. Filed Mar 28, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 28, 2025
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Item 8. Consolidated Statements of Cash Flows
| Year ended | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from Operating Activities | ||
| Net loss | $(1,934,000) | $(1,224,000) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Fair value of warrants issued as compensation | 152,000 | 37,000 |
| Fair value of common stock issued for services | 140,000 | – |
| Amortization of debt discount | 98,000 | 103,000 |
| Accrued interest expense | 213,000 | 182,000 |
| Depreciation | 1,000 | 4,000 |
| Gain on partial forgiveness of PPP note payable | – | – |
| Changes in operating assets and liabilities: | ||
| Operating lease right of use asset | – | – |
| Prepaid expenses | 1,000 | 7,000 |
| Accounts payable and accrued expenses | (73,000) | 26,000 |
| Accounts payable – license agreements | 235,000 | 236,000 |
| Operating lease liabilities | – | – |
| Net cash used in operating activities | (1,167,000) | (629,000) |
| Cash flows from investing activities | ||
| Purchase of property and equipment | (2,000) | – |
| Net cash used in investing activities | (2,000) | – |
| Cash flows from financing activities | ||
| Net proceeds from issuance of convertible notes and warrants | 1,230,000 | 532,000 |
| Net proceeds from exercise of warrants and options | 52,000 | 52,000 |
| Principal payment on PPP loan payable | (33,000) | (18,000) |
| Net cash provided by financing activities | 1,249,000 | 566,000 |
| Net increase (decrease) in cash | 80,000 | (63,000) |
| Cash, beginning of period | 70,000 | 133,000 |
| Cash, end of period | $150,000 | $70,000 |
| 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 to common stock, net | $1,034,000 | $350,000 |
| Cashless exercise of warrants applied to settlement of accounts payable | $18,000 | $– |
| Relative fair value of warrants associated with issued convertible notes | $782,000 | $231,000 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.