QS Energy raises ~$1.05M via convertible notes and warrants; terms dilute existing shareholders

QS Energy, Inc.

From May 10 to Nov 14 2024, issued $1,154,000 principal convertible notes and warrants for 38.5M shares, netting $1,049,000.
Notes due 12 months, convertible at $0.03/share; warrants exercisable at $0.04/share for one year.
Proceeds used for general corporate purposes and working capital.
Notes issued at 110% face value (implied 10% interest); default increases unpaid balance by 10% plus 10% interest.

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