QS Energy, Inc.

For the period ended Jun 30, 2025. Filed Aug 14, 2025.

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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.

Jun 30, 2025 · Filed Aug 14, 2025

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Contents

Condensed Consolidated Balance Sheets

June 30, 2025 · December 31,
(unaudited) · 2024
ASSETS
Current assets:
Cash	$778,000		$150,000
Prepaid expenses	32,000		11,000
Total current assets	810,000		161,000
Property and equipment, net	3,000		3,000
Total assets	$813,000		$164,000
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities:
Accounts payable-license agreements - past due	$2,551,000		$2,433,000
Accounts payable and accrued expenses	964,000		881,000
Convertible notes payable, net of discounts of $79,000 and $133,000, respectively; includes $1,167,000 and $2,339,000, respectively, past due	1,380,000		2,524,000
PPP loan payable	–		24,000
Total current liabilities	4,895,000		5,862,000
Total liabilities	4,895,000		5,862,000
Commitments and contingencies		–
Stockholders’ deficit
Common stock, $0.001 par value: 750,000,000 shares authorized, 519,215,177 and 428,424,880 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively	519,216		428,425
Additional paid-in capital	134,511,784		121,173,575
Accumulated deficit	(139,113,000)		(127,300,000)
Total stockholders’ deficit	(4,082,000)		(5,698,000)
Total liabilities and stockholders’ deficit	$813,000		$164,000

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