Petrosonic Energy Inc. (fka PSON)

[leverage102]

Can't seem to get an Answer ?? ANYONE ?? Is there a Patent for this SAID Technology ? If someone can Provide a Link that would help Clarify things; ??



Levs

[integral]

It means this is a share selling scam. This issuer decided to spam, and its public disclosure documents are poorly executed. This was designed to defraud the public, and they will continue those efforts until there is nothing left.

[236T568]

You do understand that hiring a consultant whose only other paid public company client is a well known scam company would be deemed as not too good for PSON, don't you?

Meaning what ?

[236T568]

PSON - oops, we somehow forgot that there were another 40% shares outstanding when we acquired our subsidiary in Albania, which makes up for 100% of our business. Did we also mention that those shares making up 40% of our subsidiary happened to be owned by our CEO?

oops.


http://www.sec.gov/Archives/edgar/data/1451654/000114420413052761/v355678_s1a.htm

Correction of Prior Year Information



During the audit of the Company’s consolidated financial statements for the year ended December 31, 2012, the Company identified an error in the accounting and presentation of the 40,000 common shares issued to the founders of the Predecessor entity, Petrosonic Albania, SHA, at inception. The 40,000 should have been shown as issued and outstanding at inception. In the previously presented financial statements of the Predecessor for the year ended December 31, 2011, 17 and 178 of these founder’s shares were presented as issued and outstanding during the years ended December 31, 2010 and 2011, respectively. This resulted in an adjustment to the previously reported amounts in the financial statements of the Predecessor for the year ended December 31, 2011. In accordance with the SEC's Staff Accounting Bulletin Nos. 99 and 108 (SAB 99 and SAB 108), the Company evaluated this error and, based on an analysis of quantitative and qualitative factors, determined that the error was immaterial to the prior reporting period affected. However, if the adjustments to correct the cumulative effect of the above error had been recorded in the year ended December 31, 2012, the Company believes the impact would have been significant and would impact comparisons to prior periods. Therefore, as permitted by SAB 108, the Company corrected, in the current filing, previously reported results for of the Predecessor for the year ended December 31, 2011.



The following table presents the effect of the correction of prior year information and the impact on the Predecessor’s balance sheet for the year ended December 31, 2011:



As of December 31, 2011
As Previously
Reported Adjustments As Restated

Stockholders’ equity:
Common stock - number of shares issued and outstanding 60,195 39,805 100,000

Common stock $ 1,543,406 $ 1,020,594 $ 2,564,000
Additional paid-in capital $ (1,008,356 ) $ (1,020,594 ) $ (2,028,950 )



The correction of the prior year information did not have any impact on the Predecessor’s statements of operations or cash flows for the year ended December 31, 2011.


and



The acquisition of Petrosonic Albania, SHA. from Sonoro is accounted for using the purchase method. As a result of the transaction, Petrosonic Albania, SHA. became a majority owned subsidiary of the Company and the assets and liabilities of the acquired entity have been brought forward at their fair value on the date of the acquisition. Immediately before the transaction, Sonoro Energy Ltd.’s ownership interest in Petrosonic Albania, SHA was 60%. Accordingly, in the fair value allocation, a non-controlling interest of $308,396 has been recorded, which amount reprsesents the value of the 40% non-controlling interest on the date of the transaction. The 40% non-controlling interest is held by Albnafta, an Albanian registered company that is held 100% by Art Agolli, the Company’s President and CEO.

[236T568]

PSON - this says it all:

http://www.sec.gov/Archives/edgar/data/1451654/000114420413052761/v355678_s1a.htm

We believe that our sonicated solvent de-asphalting technology is an improvement over existing technologies to upgrade heavy oil and our goal is to license our technology for integration into the treatment facilities of heavy oil producers for a fee or royalty. However, we have not yet proven that our sonicator can operate 24 hours a day, seven days a week, that it can process more than 1,000 barrels of oil per day, or that a change to the solvent would not result in the need for significant modifications to be made to the sonicator. Our inability to meet these challenges could mean that heavy oil upgraders may not find our method attractive and may not adopt our technology. We cannot guarantee that these operations will generate revenue in the future.

[Thisguysgood]

Meaning what ?

[236T568]

PSON hires consultant StoryCorp Consulting:

http://www.sec.gov/Archives/edgar/data/1451654/000114420413052761/v355678_ex10-15.htm


Look who is the clieint of StoryCorp Consulting:



http://www.otcmarkets.com/research/service-provider/StoryCorp-Consulting?id=5097


StoryCorp Consulting

Auditor
3435 Ocean Park Blvd., Suite 107
Box 478
Santa Monica, CA, 90405
310-907-8055
[e-mail]

Associated Companies/Securities
Name City Country Symbol Tier
Rapid Fire Marketing, Inc. Carson City United States RFMK OTC Pink Current



IN ADDITION, COMPARE THE DATE OF THE AGREEMENT WITH THE DATES OF THE SIGNATURES ON THE AGREEMENT

[236T568]

PSON - Investigated by the Enforcement Department of the Alberta Securities Commission


http://www.sec.gov/Archives/edgar/data/1451654/000114420413052758/v355773_10ka.htm

On April 3, 2013 the Alberta Securities Commission issued a cease trade order against us because we failed to file an annual information form (“AIF”) for the year ended December 31, 2012. We filed the AIF on May 3, 2013. Thereafter, we made an application to the Alberta Securities Commission to revoke the cease trade order. The Alberta Securities Commission advised that they would not be in a position to revoke the cease trade order on the basis that we are the subject of an ongoing investigation by the Enforcement Department of the Alberta Securities Commission. The investigation concerns trading and promotional activity related to our securities. The cease trade order requires that trading or purchasing cease in respect of any of our securities until the order has been revoked or varied. We are cooperating with the Alberta Securities Commission in the investigation. If the cease trade order is not revoked by the time we need to raise additional capital, we may be unable to engage in sales of our securities to raise money. In that case, unless we are able to find other methods of financing such as, for example, finding a partner with the financial means to pay for some or all of the construction, we may not have the resources to complete the facility in Albania or to implement other parts of our business plan, such as expanding our operations into other countries.

[leverage102]

Is there a Patent for this SAID Technology ? If someone can Provide a Link that would help Clarify things; ??



Levs

[COPY]

I hear that the CEO is soon to schedule a conference call for the shareholders. I don't know the date, but this info was given to me by the investor relations department.

[tradeologist]

Give us reasons why you think so.

[Thisguysgood]

This is taking off soon, sit back and watch!!!

[tradeologist]

Being sucked down the drain

I must have gotten my signals crossed. The chart now clearly shows this stock sinking into oblivion. It will take major good news to turn it around. The company's last stockholder update did more damage than good. It stated that the emulsion testing process in Albania is continuing and other third-party testing is also in progress. This contradicts previous company statements that the Albania factory is producing emulsion product and generating revenue.

[Bgallatin]

Looks like toxic death spiral financing to keep the lights on
JMO

[Bgallatin]

Never mind I guess the 20th was on time.

236T568

Tuesday, August 20, 2013 3:29:27 PM

PSON misses Aug 19th deadline for late filing of June 30th 10Q

[236T568]

and what filing date for what document was missed?

http://www.sec.gov/cgi-bin/browse-edgar?company=petrosonic&match=&CIK=pson&filenum=&State=&Country=&SIC=&owner=include&Find=Find+Companies&action=getcompany

Since they missed the filing date when does the DTC chill start?

[Bgallatin]

Since they missed the filing date when does the DTC chill start?

[tradeologist]

Should Continue to Climb

to the .70s and hang around there until their technology proves to be viable.

[ThePennyDoctor]

Beautiful bounce as predicted - love it when the charts follow a predictable pattern. I am out now - return good enough for me. GLTA still in this one.

[236T568]

PSON and Tobin Smith - the fraud continues.

This time false statements on the generation of revenues by scam company PSON.


1. PSON issues a press release on June 10, 2013 stating that PSON started generating revenues:

http://www.marketwire.com/press-release/petrosonic-energy-inc-announces-completion-emulsification-plant-start-revenue-generation-otcqb-pson-1800036.htm



2. On June 13, 2013 paid stock promoter Tobin Smith announces that PSON has started generating revenues:

http://www.nbtequitiesresearch.com/company/petrosonic-energy-inc-pson/report/petrosonic-energy-is-generating-new-revenue



3. Yet the PSON 10Q for the period ending June 30, 2013 shows that ZERO revenues have been generated by scam company PSON as of June 30, 2013:

http://www.sec.gov/Archives/edgar/data/1451654/000114420413047108/v353307_10q.htm

[tradeologist]

Yes indeed... the weak hands lost their money

[ThePennyDoctor]

This one is finally ready to bounce today and tomorrow - should end up looking like the TQL* bounce IMO

[SynthTrader]

PSON 60-minute chart:

[petroman]

The CEO raised the CEO's salary to 350K. Might as well get all the cash he can while he can.

[236T568]

$0.3205 - oh the humanity - another 52 week low

[petroman]

Hot air higher; stock lower.

http://www.hotstocked.com/article/62692/petrosonic-energy-inc-otcmkts-pson-drops-below.html

[236T568]

The stock price is now at .335

how is this working out for you?

Isn't charting of scam penny stocks just wonderful?

Picked up 20,000 shares. Last 3x this thing has been close to 40 cents, it has more than doubled.

[236T568]

.335 - new 52 week low

[236T568]

Oh my.... 0.3524 and dropping

[236T568]

ha!

good one

.40 and climbing; stock oversold and big money moving in for the scoop

[tradeologist]

.40 and climbing; stock oversold and big money moving in for the scoop

[236T568]

.352 and falling!

[236T568]

.36 and falling!

[236T568]

.38 and falling

[Pasta]

I think she might bounce here

[236T568]

.40 and falling!

[RBKissMyAs]

EDITED...Fine. The stock has not broken it's past 3 lows. If it does, then you can stand up an applaud yourself. For me, it's only a 15% loss. I'll survive. And BTW, even if I stop out here, I'll still be ahead a grand from my last trade.

[236T568]

.41 and falling

[236T568]

.415 and falling

[236T568]

PSON hits 52 week low of .42

[236T568]

How is that working out for you?

Picked up 20,000 shares. Last 3x this thing has been close to 40 cents, it has more than doubled

[RBKissMyAs]

I'm trading based on the chart only. All else is just noise to me but thanks for the link.

[236T568]

the translation regarding PSON's partner:


Bottle head governor, voted against

Wednesday, 04 July 2007


Pato - One of the members of the municipal council of Patos, was injured after being shot in the head with bottles from two persons, each of whom owns a firm that won the right to clean up the city. The event, according to current investigations of local police, occurred shortly after the city council meeting of Patos, when Muhammad Zylali advisor, was for a coffee at one of the local clubs. For crime, the police declared wanted two. Sejdin Berhamaj, 44 years old from Patos, the owner of the cleaning firm and Fitus Hyka, 31 years old, suspected perpetrators of the incident, which was damaged due to the head advisor Zylali.

The event took place 40 minutes after the city council meeting ended, two days ago, where they will vote for the cleaning tender Patos city. When Sejdin Berhamaj, introduced to win this bid, together with his friend, Fitus Hyke, Zylali became aware that he voted against and as a result they lost, are frustrated, being put immediately in search of municipal advisor for them account required. Once we learn that the government was Zylali "castle" in Fier-axis Patos, go straight to the table without asking to have been associated. From the evidence the police learned that the suspect accounts have asked why voted against, while advisor responded that "you do not deserve tender". Frustrated two people take a bottle of wine and advisor to the head of the firing, causing severe laceration. The participants were sent the wounded to the hospital, while the alleged perpetrators fled the scene. The denunciation was made by the aggrieved party itself, which has accused Berhamajn and Hyke as author, made ??the announcement while police searching for suspects, the criminal offense of "shock due to duty".

J.. Beharaj

Petrosonic's master all agreement is with Sejdin Berhamaj. According to their 10-Q. There is a story about him here:

http://www.kohajone.com/artikull_print.php?idm=9763.

I used good translate to read it.

[petroman]

Petrosonic's master all agreement is with Sejdin Berhamaj. According to their 10-Q. There is a story about him here:

http://www.kohajone.com/artikull_print.php?idm=9763.

I used good translate to read it.

[RBKissMyAs]

Oh, lookie there. I'm already green.

[236T568]

History?

History dictates that scam companies, such as PSON, eventually drop to close to a zero valuation

I think I'll sell when I'm up 100% as history has dictated. That's what I'll do.

[RBKissMyAs]

I think I'll sell when I'm up 100% as history has dictated. That's what I'll do.

[236T568]

Well, good for you

now

what do you think is going to happen to the stock price when those 12.2 million shares purchased at .25 in the January 2013 private placement and that are now freely trading hit the market?

Picked up 20,000 shares. Last 3x this thing has been close to 40 cents, it has more than doubled.

[RBKissMyAs]

Picked up 20,000 shares. Last 3x this thing has been close to 40 cents, it has more than doubled.

[236T568]

Oh, the DTC chill along with the upcoming SEC suspension is going to do wonders for this stock

PSON is just begging for a DTC chill.. then watch this plummet

JMO