Verified Profile and the most recent Q filed(ending 07/31/2023), so should just need an attorney letter I believe to be back Pink Current Info.
If I recall correctly, this would be the only ticker I owned that went to Expert and actually came back, since the amendments to Rule 15c2-11 went into effect.
They would still need a 211 review, to become PQE and get rid of the unsolicited quotes, that could be done by uplisting to the QB, however, we would need to merge with, or acquire someone with some cash to do so...unless they can raise some money here somehow. I think that would be difficult though, as any lender would not be able to get shares deposited in a CD type scenario, due to the unsolicited quotes.
Powers that be make it very difficult for small companies to do anything in this shitty market these days.
Also, FWIW noticed the gold 'Q' is gone in the company logo and now we have a hydrogen/green energy type logo.
FUUN just filed 31 Pink Sheets filings in 1 Month to get Pink Current Info....we have had 3 filings in 8 months....come on Tom lets Git-er-done! It appears brokers are not going to allow any trading on this until its current, presumably due to being both Limited Info and unsolicited quotes.
Been a very, very slow process but the Annual Report was just filed a couple days ago, so one step closer to getting off the Expert Market.
BTW there is no 'SUBSEQUENT EVENTS NOTE 8' in this latest OTC Markets disclosure Quarterly filing.
Once they have completed all the disclosure they are required to file, then it should be pretty soon afterwards.
Its possible they need an Annual Report, even though the 10K was filed not that long ago, as well as an Attorney Letter as their financials are unaudited.
Whatever this new LOI is, there was no PR, like the Progressus LOI had, so no telling who the company is or if it will close, hopefully its something good.
When do we expect able to buy shares
Another Q just filed, sounds like they have a new LOI, another hydrogen company, unless they are still trying to acquire Progressus...??
50.05% of Progressus was recently acquired by AmmPower (OTCQB:AMMPF) so not sure....maybe they are trying to get the other 49.95%. Hopefully not, who wants AABVF or MOTNF holding a ton of shares, plus its pretty clear the market did not seem to care all that much about Progressus, yes volume is perhaps up a little bit since the acquisition but the pps has not done anything special.
To get off the Expert Market and back to normal quotations.
They were an SEC filer for several years, they filed a Form 15 to deregister, which suspends a company's duty to file reports with the SEC. Its possible they may have done this to save $$$'s and instead file OTC Markets disclosure which is cheaper. If that's the case, while not ideal, I can appreciate it, its better that having to raise money through convertible debt, just to pay for the SEC filings I suppose.
Any time your on the Grey or Expert Market, your at risk of having your symbol randomly deleted by FINRA for being an 'inactive security', especially in a case like this, where the ticker barely ever trades.
Why they trying to get current?
Profile Verified at OTC Markets yesterday, so not too much left for them to get current, not sure if they just need the final Q or an Annual Report and Attorney Letter but we could be back Pink Current Info next week with any luck.
Almost have to wonder if there is a material event or some significant change in the next quarterly filing that's taking more time, otherwise seems like they would have just filed both at the same time.
Yes, definitely alive...!! We still need at least 1 Quarterly filing, maybe an Attorney Letter..... and I believe they still need to verify their profile at OTC Markets as well, then we should be back to Pink Current Info.....and off this POS Expert Market.
So this company very much alive?
Me too, I've been following since 2014 and have been accumulating shares for about a year now. I had high hopes for this because of the great share structure and how the number of shares held at DTC has stayed so incredibly low during that time.
I have no idea what's going on.... if anything.... but some buys today on Expert seems like a good sign........hopefully.
Man I hope option #2
I have absolutely no clue, right now it's Expert Market, so it can only be traded by 'sophisticated investors', no mainstream brokers will allow you to buy it.
They recently filed a Form 15 to deregister its shares and terminate their SEC filing requirements( ie 'go dark') usually an indication they are either giving up completely or will be filing disclosure through OTC Markets instead.
Once in a while you see a Form 15 filed when a public company is acquired in a reverse merger and the acquired company survives as a wholly-owned subsidiary of the acquiror.
Interesting, getting a few buys today on the Expert Market @ .51. I do occasionally recall Form 15's getting filed in advance of an ownership change/merger, not entirely sure why that happened but now I wonder if that's perhaps the case here....hmm.....or maybe just wishful thinking....who knows.
If they are giving up on this, why not sell it to someone like David Lazar(Activist Investing LLC) for a low price, so at least the few shareholders in it have a chance at an exit someday, I'm sure he would not have a problem finding a merger candidate with this share structure.
Per the last TA update the amount of shares held @ DTC has decreased from 93K to just 43K.
So it appears 50K shares were withdrawn from DTC and back in cert form, you very rarely ever see that, the number of shares held at DTC is typically always increasing in penny stocks.....as more shares get deposited that can be dumped into the market at any time.
This is likely going to be a long term hold as well, as now they need to go a different route and find something new.
As I mentioned before I didn't think was a great deal for BQST shareholders, so I'm not sure what the Progressus shareholders were complaining about, they would have held like 90% of the o/s.
Progressus is a startup, who will likely not see any revenue for ages if ever, as hydrogen home's may never catch on, especially now that multiple studies have show that heating homes with hydrogen is not really viable.
Hopefully they can find something new for this sometime next year, until then I will continue to accumulate when I can.
I appreciate your reply. The names of Andretti and Steinbrenner underwriting hydrogen fueling stations, along with 49% intellectual rights to Progressus' AES-100 hydrogen technology drew me in, thinking it will be a worthy long term speculative play. Coincidentally, MOTNF's earlier ventures have been in cannabis.
Progressus technology is pretty cool, as it would allow hydrogen to travel through existing natural gas lines to peoples homes....where it would then get separated at the home from the natural gas..... thus making hydrogen more accessible for folks to use.
However, I thought 90M shares issuance was way too extreme...... especially with a couple of dirt cheap penny stocks owning the bulk of the shares. When these companies are done diluting their own shareholders into oblivion, the next thing would have been to start dumping their shares of BQST.
So as a BQST shareholder, longer term I just didn't like it, .....and it would never have been appealing to others @ $1.00+, when folks saw the majority shareholders were cheap penny stocks...it just didn't look good IMO.
I think they can find a better merger/acquisition, this is a very solid shell, though not technically classified as a 'shell' per se.......an SEC filer, with a high insider ownership % and tiny amount shares held @ DTC. If someone wanted to merge in, become penny stock exempt and prepare for uplisting, it would be pretty easy to do with this share structure, they could also potentially buy out the bulk of the float as well, as the share are still in cert form. So to me this is one of the better OTC merger vehicles out there.
Thanks for that news update, as I have interest in Progressus Clean Technologies, but haven't received an update yet.
Thanks for that news update, as I have interest in Progressus Clean Technologies, but haven't received an update yet.
LOI with Progressus withdrawn, I had a feeling that was going to happen, no biggie, that was way too many shares to issue anyway for a startup IMO.
I see they just verified their profile @ OTC Markets, I believe the Business Description was changed, that use to have the Progressus information there....and that's been removed and now reads:
The Q just out needs to be amended as there is a typo in the outstanding share count, shows 11,485,320,230 when it should read 11,485,230.......quite a big difference....lol.
Up 1263% today.....spread is so ridiculously wide any ASK slap or bidwhack sends it up or down huge.....lol
Don't know but I would not be surprised, a lot may depend on how many shares will be issued to MOTNF and AABVF, which accounts for about 90% of the merging company. Ideally I'd like to see them keep it under 50M total but who knows.
The tech looks very interesting to me, massive potential and Pinakin Patel is one of the worlds foremost experts in hydrogen and fuel cell technologies and has received over $500 million dollars in R&D funding for the development of projects worldwide.
Also, considering there are only 93K shares held @ DTC, pps could really blow up post merger IMO.....whether or not that happens, only time will tell as the low share prices of MOTNF and AABVF could possible hurt this to some degree.
I'm not 100% sure but I'm thinking there will not be spin off shares issued to MOTNF and AABVF shareholders as 49% of Progressus Clean Technologies is owned by MOTNF and AABVF holds about 41%, with minority interest being privately held....so it's not a wholly owned subsidiary of either one of the public companies....at least I hope there will not be spin off shares as a BQST shareholder....that's only going to increase the o/s that much more.
It will be interesting to see how the share exchange will work, there are several public entities involved. MOTNF and AABVF will exchange their shares of Progressus for BQST, that's about 45M shares I believe if its 1:1 exchange but it might not be the case, it could be more favorable for BQST shareholders....hard to say right now.
Folks may sleep on this due to the low price of MOTNF and AABVF stock but this spin off could be pretty big based on the DD IMO.
First PR in a couple years, looks like they are getting out of the CBD industry and have signed a LOI to acquire Progressus Clean Technologies Inc for an yet unknown amount of shares.
I have been researching Thomas Hemingway (CEO) because of an old ticker he was connected to... that being said... RUUUUUUNNNNNN
This dude is nothing more than a scam artist, pump and dump, masssive dilution to reverse split, awarding himself millions of shares to dump onto you (and to himself not the company)...has over 20 FAILED companies and they all end the same. If you are invested here.... GET OUT!!!!
If you don’t believe me then just google his name and read up on his FAILED companies. And he was literally Sued by the government lol
BioQuest Corp. (BQST) Plans Up listing to OTCQB
January 07, 2021 08:45 ET | Source: BioQuest Corp
Newport Beach, Jan. 07, 2021 (GLOBE NEWSWIRE) -- BioQuest Corp, (OTC:BQST), a FULLY Reporting Company and provider of high end CBD products to the retail, direct and internet markets, it is pleased to announce the Company's plans to up list to the OTCQB market within the next few weeks. The application process will not guarantee acceptance of Company’s application by OTCMARKETS from the PINKS to OTCQB..
BioQuest, Corporation - markets, packages and distributes an assortment of Hemp-CBD based products for the health-conscious consumer. Our mission is to create high end, products and bring together all relevant CBD content in the Nutraceutical and Pharmaceutical markets, to one place so that it is easily found and comparable by consumers. BioQuest will also be positioned to generate revenue by acquiring established companies who have a current presence in the nutraceutical cannabis industry as well as by bringing new products to market that will generate immediate revenues and will be created and marketed by BioQuest.
The Company believes that the move to the OTCQB will provide enhanced investor benefits including higher reporting standards, greater access to analyst coverage and news services, and more comprehensive compliance requirements. The OTCQB is considered by the Securities and Exchange Commission (SEC) as an "established public market" for determining the public market price when registering securities for resale with the SEC. The OTC Pink is not considered as such and most broker dealers will not trade or recommend OTC Pink stocks. Because the OTCQB dramatically increases transparency, reporting standards, management certification and compliance requirements, most broker dealers trade stocks on the OTCQB. Historically this has resulted in greater liquidity and awareness for companies that reach the OTCQB tier.
“We anticipate that trading on the OTCQB will raise our visibility within the investment community and will help to broaden our shareholder base,” stated Thomas Hemingway, CEO & Chairman of BioQuest Corp. “Up listing to the OTCQB will be a significant milestone for the company (if our application is accepted by the OTCMARKETS) as it provides shareholders and potential investors with greater transparency and liquidity, and exposes BioQuest to institutional investors which do not invest in Pink Sheet companies.”
Since the legalization of CBD, numerous states have created new and exciting markets with great marketing and sales potential. Once federal laws allow wider use of cannabis the cannabis space is going to be a sunrise industry with huge growth potentials; in all areas of one’s life from medical uses, pharmaceutical, nutraceutical, pets and recreational.
About BioQuest Corp.
BioQuest Corp. sells primarily into the business-to-business market and internet-based consumer to consumer, which includes legally operating medical and adult-use dispensaries, growers, and brand owners in states with cannabis and CBD programs. We plan to reach a large and diversified customer base through our direct sales force, our user-friendly website, and the strategic use of re-distributors. Sales, fulfillment and support staff meet with customers to understand their needs and improve our product offerings and services. We will dedicate certain sales and marketing efforts to our products, customers or geographic regions, as necessary, which enables us to develop expertise that is highly valued by our customers. BioQuest is Headquartered in Newport Beach, CA. Additional information on BQST is available at www.bioquestcorp.com
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Statements in this press release concerning the company’s expectations, plans, business outlook or future performance, and any other statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are “forward-looking statements.” Forward-looking statements inherently involve risks and uncertainties that could cause our actual results to differ materially from any forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the Company’s failure to implement or otherwise achieve the benefits of its proposed business initiatives and plans; acceptance of the Company's current and future products and services in the marketplace, including the Company’s ability to convert successful evaluations and tests BioQuest CBD products into customer orders and customers continuing to place product orders as expected and to expand their use of the Company’s products; the Company’s ability to raise the funding required to support its continued operations and the implementation of its business plan; the ability of the Company to develop effective new products and receive required approvals; competitive factors, including customer acceptance of the Company’s CBD-based products that are typically more expensive than existing Products; dependence upon third-party vendors, including to manufacture its products; and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission (the SEC), including its Form 10-K and 10-Q’s.
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest event Reported): October 14, 2020