QS Energy raises $2.29M via convertible notes and warrants for working capital and CEO bonus

QS Energy, Inc.

Issued $2,514,000 face amount convertible notes at 110% of investment; net proceeds $2,285,000.
Notes convertible at $0.08/share; warrants exercisable at $0.10/share for 1 year to purchase 31,423,615 shares.
Proceeds used for general corporate purposes, including CEO/CFO Cecil Bond Kyte retention bonus of $1,557,500 ($519,167 unconditional).
Offering made to accredited US and non-US investors without registration, relying on Section 4(a)(2) and Regulation S.
Maturity 12 months from issuance; unpaid balance increases 10% and bears 10% interest if not paid on time.

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