QSEP on OTC

QS Energy, Inc.

American oil and gas field machinery and equipment company. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

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TickerQSEP on OTC¹
IndustryOil & Gas Field Machinery & Equipment¹
HeadquartersTomball, Texas¹
Incorporated inNV²
Business address23902 Fm 2978, Tomball, Tx 77375²
Filer categoryNon-accelerated filer, Smaller reporting company²

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-$4.0MFree cash flow³

Financial statements

Revenue⁴⁵⁶⁷⁸³$0 in 2025

Operating income⁵⁶⁷⁸³-$14.9M in 2025+719% since 2020

Net income⁴⁵⁶⁷⁸³-$15.3M in 2025+172% since 2019

Every line of the income statement as filed: the last 2 fiscal years, latest first.³

Period ending	2025-12-31	2024-12-31
Revenues	$0	$0
Operating expenses	$13.3M	$1.4M
Research and development expenses	$1.6M	$191.0K
Loss from operations	-$14.9M	-$1.6M
Interest and financing expense	-$389.0K	-$358.0K
Other	$7.0K	$0
Net Loss	-$15.3M	-$1.9M
Net loss per common share, basic	-$0.03	$0.00
Net loss per common share, diluted	-$0.03	$0.00
Weighted average common shares outstanding, basic	499.7M shares	405.0M shares
Weighted average common shares outstanding, diluted	499.7M shares	405.0M shares

Total assets⁴⁵⁶⁷⁸³$55.0K in 2025−91% since 2019

Total liabilities⁵⁶⁷⁸³$5.9M in 2025+64% since 2020

Shareholders’ equity⁵⁶⁷⁸³-$5.9M in 2025+159% since 2019

Cash⁵⁶⁷⁸³$6.0K in 2025−99% since 2019

Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.³

Period ending	2025-12-31	2025-07-31	2024-12-31	2023-12-31
Cash	$6.0K		$150.0K
Prepaid expenses	$49.0K		$11.0K
Total current assets	$55.0K		$161.0K
Property and equipment, net	$0		$3.0K
Total assets	$55.0K		$164.0K
Accounts payable-license agreements-past due	$3.2M	$3.2M	$2.4M
Accounts payable and accrued expenses	$1.4M		$881.0K
Convertible notes payable, net of discounts of $16,000 and $133,000, respectively: including $1,116,000 and $2,339,000, respectively, in default	$1.4M		$2.5M
PPP Loan payable	$0		$24.0K
Total current liabilities	$5.9M		$5.9M
Total liabilities	$5.9M		$5.9M
Common stock, $0.001 par value: 750,000,000 shares authorized, 543,350,596 and 428,424,880 shares issued and outstanding at December 31, 2025 and 2024, respectively	$543.4K		$428.4K
Additional paid-in capital	$136.2M		$121.2M
Accumulated deficit	-$142.6M		-$127.3M
Total stockholders deficit	-$5.9M		-$5.7M	-$5.2M
Total liabilities and stockholders deficit	$55.0K		$164.0K
Common stock, par value	$0.00		$0.00
Common stock, shares authorized	750.0M shares		750.0M shares
Common stock, shares issued	543.4M shares		428.4M shares
Common stock, shares outstanding	543.4M shares		428.4M shares

Period ending	2025-12-31	2025-07-31	2024-12-31	2023-12-31
Cash	$6.0K		$150.0K
Prepaid expenses	$49.0K		$11.0K
Total current assets	$55.0K		$161.0K
Property and equipment, net	$0		$3.0K
Total assets	$55.0K		$164.0K
Accounts payable-license agreements-past due	$3.2M	$3.2M	$2.4M
Accounts payable and accrued expenses	$1.4M		$881.0K
Convertible notes payable, net of discounts of $16,000 and $133,000, respectively: including $1,116,000 and $2,339,000, respectively, in default	$1.4M		$2.5M
PPP Loan payable	$0		$24.0K
Total current liabilities	$5.9M		$5.9M
Total liabilities	$5.9M		$5.9M
Common stock, $0.001 par value: 750,000,000 shares authorized, 543,350,596 and 428,424,880 shares issued and outstanding at December 31, 2025 and 2024, respectively	$543.4K		$428.4K
Additional paid-in capital	$136.2M		$121.2M
Accumulated deficit	-$142.6M		-$127.3M
Total stockholders deficit	-$5.9M		-$5.7M	-$5.2M
Total liabilities and stockholders deficit	$55.0K		$164.0K
Common stock, par value	$0.00		$0.00
Common stock, shares authorized	750.0M shares		750.0M shares
Common stock, shares issued	543.4M shares		428.4M shares
Common stock, shares outstanding	543.4M shares		428.4M shares

Cash from operations⁴⁵⁶⁷⁸³-$4.0M in 2025+50% since 2019

Capital spending⁴⁶⁷⁸³$0 in 2025

Free cash flow⁴⁵⁶⁷⁸³-$4.0M in 2025+49% since 2019

Every line of the cash flow as filed: the last 2 fiscal years, latest first.³

Period ending	2025-12-31	2024-12-31
Net loss	-$15.3M	-$1.9M
Fair value of vested options and warrants	$7.4M	$152.0K
Stock-based compensation expense warrant modification	$511.0K	$0
Fair value of common stock issued for services	$1.5M	$140.0K
Issuance of common stock as compensation	$240.0K	$0
Amortization of debt discount	$204.0K	$98.0K
Accrued interest expense	$146.0K	$213.0K
Depreciation	$3.0K	$1.0K
Prepaid expenses	-$38.0K	$1.0K
Accounts payable and accrued expenses	$639.0K	-$73.0K
Accounts payable license agreements	$734.0K	$235.0K
Operating lease liabilities	$0	$0
Net cash used in operating activities	-$4.0M	-$1.2M
Purchase of property and equipment	$0	-$2.0K
Net cash used in investing activities	$0	-$2.0K
Net proceeds from issuance of convertible notes and warrants	$2.3M	$1.2M
Net proceeds from exercise of warrants and options	$1.6M	$52.0K
Principal payment on PPP loan payable	-$24.0K	-$33.0K
Net cash provided by financing activities	$3.9M	$1.2M
Net increase (decrease) in cash	-$144.0K	$80.0K
Interest	$0	$0
Income Taxes	$1.6K	$1.6K
Conversion of convertible notes to common stock, net	$3.8M	$1.0M
Common stock issued for settlement of accounts payable	$104.0K	$18.0K
Relative fair value of warrants associated with issued convertible notes	$1.4M	$782.0K

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Leadership

Who has led QS Energy, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

Chair

Edward L. Masry2006

President

Chief financial officer

2010201520202025

Chief executive officerDon Dickson Jun 17, 2020 to Jun 17, 2020¹¹
Chief executive officerJason B. Lane Apr 7, 2017 to Apr 1, 2020¹²
Chief executive officerGreggory M. Bigger May 14, 2014 to Jan 26, 2017¹³
Chief executive officerCecil Kyte Feb 6, 2012 to May 14, 2014¹⁴
Chief executive officerCharles Blum Jul 31, 2007 to Oct 15, 2008¹⁵
Chief executive officerEugene E. Eichler Feb 6, 2006 to Aug 7, 2006¹⁶
ChairEdward L. Masry Feb 14, 2006 to Feb 14, 2006¹⁷
PresidentGreggory M. Bigger Feb 4, 2013 to Sep 25, 2013¹⁸
PresidentCharles Blum Nov 10, 2011 to Nov 10, 2011¹⁹
PresidentBruce McKinnon Feb 23, 2006 to Aug 2, 2006²⁰
Chief financial officerCecil Kyte Jul 28, 2021 to Feb 25, 2025²¹
Chief financial officerMichael Scott McMullen Apr 6, 2017 to Jun 19, 2020²²
Chief financial officerGreggory M. Bigger Feb 7, 2012 to Sep 25, 2013²³
Chief financial officerEugene E. Eichler Nov 14, 2011 to Jan 4, 2012²⁴
Chief financial officerCharles K. Dargan Feb 28, 2007 to Aug 14, 2007²⁵

Board members and other officers (20)

Chief Execcutive OfficerCecil Kyte Jan 31, 2013 to Jan 31, 2013²⁶
Executive Vice President-OperaJohn Bautista Mar 7, 2006 to Aug 18, 2006²⁷
Board memberEric Bunting Apr 6, 2017 to now²⁸
Board memberJason B. Lane Apr 7, 2017 to Apr 1, 2020¹²
Board memberGary M. Buchler May 11, 2017 to Mar 24, 2020²⁹
Board memberRichard William Munn May 17, 2017 to Jun 22, 2020³⁰
Board memberThomas A. Bundros Jan 23, 2015 to Mar 18, 2020³¹
Board memberMark Stubbs Aug 7, 2013 to Feb 3, 2017³²
Board memberDon Dickson Aug 20, 2013 to Jun 17, 2020³³
Board memberGreggory M. Bigger Sep 25, 2013 to Jan 26, 2017³⁴
Board memberNathan E. Shelton Jan 13, 2012 to Jan 31, 2017³⁵
Board memberRyan K. Zinke Dec 13, 2012 to May 15, 2014³⁶
Board memberDennis M. Kenneally Feb 22, 2007 to Feb 22, 2007³⁷
Board memberSteven Bolio Feb 27, 2007 to Feb 27, 2007³⁸
Board memberCharles Blum Jul 31, 2007 to Jan 26, 2017¹⁵
Board memberEugene E. Eichler Feb 6, 2006 to Aug 7, 2006¹⁶
Board memberBruce McKinnon Feb 23, 2006 to Aug 2, 2006²⁰
Board memberCecil Kyte Mar 7, 2006 to now³⁹
Board memberJohn F. Price Aug 10, 2006 to Apr 18, 2008⁴⁰
Board memberJoseph Helleis Aug 10, 2006 to Aug 10, 2006⁴¹

Former names

SAVE THE WORLD AIR INCNov 28, 2000 to Aug 7, 2015²

Timeline

Jun 17, 2020New chief executive Don Dickson becomes CEO¹¹
Apr 7, 2017New chief executive Jason B. Lane becomes CEO¹²
May 14, 2014New chief executive Greggory M. Bigger becomes CEO¹³
Feb 6, 2012New chief executive Cecil Kyte becomes CEO¹⁴
Jul 31, 2007New chief executive Charles Blum becomes CEO¹⁵
Feb 6, 2006New chief executive Eugene E. Eichler becomes CEO¹⁶

Filings

45 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 11 major events, 10 insider forms, 1 large holders, 3 other. The latest 20:

Aug 28, 20264 EDGAR
Aug 28, 20264 EDGAR
Aug 14, 202610-Q FORM 10-Q FOR JUN 2026 EDGAR
May 15, 202610-Q FORM 10-Q FOR MAR 2026 EDGAR
Mar 31, 202610-K FORM 10-K FOR DEC 2025 EDGAR
Nov 14, 202510-Q FORM 10-Q FOR SEPT. 2025 EDGAR
Aug 14, 202510-Q FORM 10-Q FOR JUN 2025 EDGAR
Jun 25, 20258-K CURRENT REPORT EDGAR
Jun 20, 20258-K CURRENT REPORT EDGAR
May 27, 20254 EDGAR
May 14, 202510-Q FORM 10-Q FOR MAR 2025 EDGAR
Mar 28, 202510-K FORM 10-K FOR DEC 2024 EDGAR
Feb 27, 2025SCHEDULE 13D/A EDGAR
Feb 25, 20254 EDGAR
Feb 25, 20254/A EDGAR
Feb 25, 20254 EDGAR
Feb 25, 20254/A EDGAR
Feb 21, 20258-K CURRENT REPORT EDGAR
Feb 19, 20258-K CURRENT REPORT EDGAR
Feb 19, 20258-K CURRENT REPORT EDGAR

The 45 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

1 open-market trades by officers, directors and large owners since October 2021: 1 buys and 0 sales. Grants, option exercises and gifts are left out.

Date	Who	Trade	Shares	Price	Value	Filing
Feb 13, 2024	Bunting EricDirector	Buy	220,000			Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Cecil KyteSCHEDULE 13D/A, 1 filing Feb 27, 2025⁴²

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARQS Energy, Inc. filings on SEC EDGAR
2
SEC EDGARQS Energy, Inc. filings on SEC EDGAR
3
SEC EDGARQS Energy, Inc. 10-K for fiscal 2025
4
SEC EDGARQS Energy, Inc. 10-K for fiscal 2019
5
SEC EDGARQS Energy, Inc. 10-K for fiscal 2020
6
SEC EDGARQS Energy, Inc. 10-K for fiscal 2021
7
SEC EDGARQS Energy, Inc. 10-K for fiscal 2022
8
SEC EDGARQS Energy, Inc. 10-K for fiscal 2023
9
SEC EDGARQS Energy, Inc. 10-Q for fiscal 2026
10
SEC EDGARQS Energy, Inc. 10-Q for fiscal 2026
11
SEC EDGARDon Dickson, Chief executive officer
12
SEC EDGARJason B. Lane, Chief executive officer
13
SEC EDGARGreggory M. Bigger, Chief executive officer
14
SEC EDGARCecil Kyte, Chief executive officer
15
SEC EDGARCharles Blum, Chief executive officer
16
SEC EDGAREugene E. Eichler, Chief executive officer
17
SEC EDGAREdward L. Masry, Chair
18
SEC EDGARGreggory M. Bigger, President
19
SEC EDGARCharles Blum, President
20
SEC EDGARBruce McKinnon, President
21
SEC EDGARCecil Kyte, Chief financial officer
22
SEC EDGARMichael Scott McMullen, Chief financial officer
23
SEC EDGARGreggory M. Bigger, Chief financial officer
24
SEC EDGAREugene E. Eichler, Chief financial officer
25
SEC EDGARCharles K. Dargan, Chief financial officer
26
SEC EDGARCecil Kyte, Chief Execcutive Officer
27
SEC EDGARJohn Bautista, Executive Vice President-Opera
28
SEC EDGAREric Bunting, Board member
29
SEC EDGARGary M. Buchler, Board member
30
SEC EDGARRichard William Munn, Board member
31
SEC EDGARThomas A. Bundros, Board member
32
SEC EDGARMark Stubbs, Board member
33
SEC EDGARDon Dickson, Board member
34
SEC EDGARGreggory M. Bigger, Board member
35
SEC EDGARNathan E. Shelton, Board member
36
SEC EDGARRyan K. Zinke, Board member
37
SEC EDGARDennis M. Kenneally, Board member
38
SEC EDGARSteven Bolio, Board member
39
SEC EDGARCecil Kyte, Board member
40
SEC EDGARJohn F. Price, Board member
41
SEC EDGARJoseph Helleis, Board member
42
SEC EDGARCecil Kyte SCHEDULE 13D/A on QS Energy, Inc.