Petroteq Energy Inc (PQEFF)

[GitrMan]

It's actually quite simple. It is a shares for debt transaction. Basically, MCW takes out a loan. Rather than repaying the loan with cash to the lender. The lender agreed to receive payment in the form of stock. If you read through the financials of the company you can see that one of the major lenders to the company is the chairmen Aleksandr Blyumkin. He has loaned millions to the company and received repayment in the form of shares rather than cash. This is very beneficial to the company if it doesn't have the ability to repay loans with cash due to not having any revenues.