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I wonder if more T-Trades will happen tomorrow!
Technically he did mint 20 bil new shares. Just not used yet.
I supposed the loans are preferably going to be used for ADE... Perhaps the 20bil shares will be used for new or existing acquisitions.
Totally agree, coupled with the 20bil A/S.. no reports on significant amount of revenue has been filed yet.
So, I wouldn't understand how he could even start the buyback.
Can't they just issue more shares to themselves to bring down their average?
What is the point in buying back "25 Billion" shares, if you can then just issue shares from the 20 billion that was added to the Authorized Shares?
Some people are saying that it would be used for 5 Grain Acquisition, but then again that's shares that will still be issued...
I read that some people said that the board approved the 20bil shares to the AS in 2017.
So, I'm guessing they didn't have to file with the SEC? Not completely sure.
It can be anything but 0.001 is the value at which he issued the shares.
I suppose so, they filed with the state of Wyoming.
Lol, Did you check the date?
Same! Time to flip some more shares!
Here's the link increased shares 20bil
https://wyobiz.wyo.gov/Business/FilingDetails.aspx?eFNum=069153027100105024011212167129108222090175217122
You can scroll down and click the History tab and see the filing "Common Amendment - 2022-003528529" was filed today.
What would be the point in bringing it up if you can't provide the information? Better to not say it at all.
Later this year I suppose.
Henry told you? I would like to see this piece of information...
Is this over SMS text? Please screenshot the message and upload it to Imgur.com as an image and paste the link in a reply.
To me, it would be a setup if the stock traded 100m+ shares daily and not end the day below 100m volume. If that were to happen then I think something would be up.
200m+ volume was traded in volume back in December I believe but it was short lived, IMO.
The point in this tender offer is for Viston to take the company private because of current management's incompetence to grow the business + shareholders value.
Details on the Viston Tender Offer
Offer Deadline: The deadline to tender shares is 5:00p.m. ET on February 7, 2022.
Source: https://www.petroteqoffer.com/wp-content/uploads/2021/10/Offer-to-Purchase-and-Circular-EN.pdf
Important snippets:
Why should I accept the Offer?
The Offeror believes that the Offer is compelling, and represents a clearly superior alternative to continuing on the
course set by the current Petroteq Board and management of Petroteq, for the following reasons:
The Petroteq Board and Management Team Have Driven a Significant Destruction of Shareholder
Value. There is considerable risk to Shareholders if the Petroteq Board and management team continue
to pursue their standalone strategy. The Petroteq Board and management have, as set out in their public
filings disclosures, demonstrated:
? Inability to Increase Earnings or Achieve Profitability: Petroteq has run at an operating loss since
its inception and has been unable to achieve profitability. As at May 31, 2021, August 31, 2020 and
August 31, 2019 Petroteq had accumulated a deficit of US$(97,047,409), US$(90,664,349) and
US$(81,467,953), respectively and expect to continue to incur increasing expenses in the foreseeable
future. Petroteq incurred a net loss of US$(6,383,060) for the nine months ended May 31, 2021 and
US$(12,379,067) and US$(15,787,886) as of the years ended August 31, 2020 and August 31, 2019,
respectively. Petroteq has incurred net losses for the past four years and has accumulated losses of
US$(97,047,409) since its inception and a working capital deficit of US$(12,999,107). Petroteq has
also disclosed that due to sustained and substantial operating and net losses, it is possible that it will
never be able to sustain or develop the revenue levels necessary to attain profitability.
? Capital Structure Mismanagement: The result of mismanagement and operational
underperformance is a balance sheet that is burdened with nearly US$20 million of total debt coupled
with a share deficit of US$(97,047,409). As at May 31, 2021, Petroteq had a working capital ratio of
0.18, which suggests that the company is unable to meet its current liabilities. Furthermore, the
working capital is at a deficit of US$(12,999,107) with an expectation to incur more losses. As at May
31, 2021, Petroteq had Options, Warrants and Convertible Debentures exercisable for/convertible into
a total of 207,360,625 Common Shares and it has disclosed that it intends to issue further convertible
securities and Common Shares in order to finance its operations and development. Further issuance
of Common Shares in this way will have a dilutive effect on the percentage ownership held by holders
of its Common Shares. Viston believes this is a direct result of several poor strategic capital al__cpLocation
decisions.
? Potential for Downward Impact to Common Share Price if Offer Not Accepted. The Offer represents
a significant premium to the market price of the Common Shares prior to the Offer. If the Offer is not
successful, and no other offer is made for Petroteq, Viston believes it is likely the Common Share price
will decline to pre-Offer levels.
Will Petroteq continue as a public company?
As indicated above, it is the Offeror’s intention to enter into one or more transactions to enable it to acquire all
Common Shares not acquired pursuant to the Offer. If the Offeror is able to complete such a transaction, the
Offeror intends to seek to delist the Common Shares from the Listing Markets. For so long as Petroteq has
convertible securities outstanding, there may be limitations on its ability to cease to be a reporting issuer and to
cease to have public reporting obligations.
If the Offeror takes up Common Shares under the Offer but is unable to complete a Compulsory Acquisition or
Subsequent Acquisition Transaction, then Petroteq will continue as a public company and the Offeror will evaluate
its alternatives. In such circumstances, the Offeror’s purchase of Common Shares under the Offer will have
reduced the number of Common Shares that trade publicly, as well as the number of Shareholders, and, depending
on the number of Common Shares purchased under the Offer, could adversely affect the liquidity and market value
of the remaining Common Shares held by the public, which could, in turn, negatively impact Petroteq’s eligibility
for listing.
As indicated above, if the Offeror takes up Common Shares under the Offer, the Offeror intends to replace all of
the existing members of the Petroteq Board with individuals nominated by the Offeror and, subject to the approval
of the new Petroteq Board, to replace Petroteq’s senior management. See “ – If I decide not to tender, how will my
Common Shares be affected?”.
ADE is not up and running yet, because the facility hasn't been built yet. So technically, ADE is not yet done.
Is the ADE up and running yet?
Bold and underlined part was the whole point of the post.
Upon searching Carbonian's address, I stumbled upon "Another scam recorded from business related to 30 N. Gould St. registered agent" https://www.thesheridanpress.com/news/local/another-scam-recorded-from-business-related-to-30-n-gould-st-registered-agent/article_52b040ca-f622-11eb-a595-e7f2de685e62.html
As gettingideas said in a previous post, they used the addresses of the registered agent. A registered agent is simply a person or entity appointed to accept service of process and official mail on your business' behalf. You can appoint yourself, or in many states, you can appoint your business to be its own registered agent.
I guess PHIL don't have any actual buildings yet? Since it's technically a holdings company.
I say next Friday!
Wow you summed up Henry's motive all in one sentence, I totally agree that Henry has lack of fortitude and competence to get things done on time!
Although, I never once whined about anything, I strongly agree that Henry should start getting things done on time instead of delaying, which to me shows he's not very competent in what he's doing.
Strongly agree!
Certainly not. Nikola is a prime example, I'm sure Nikola filed with the SEC. Does the SEC fact check what's being filed? No.
If they did Nikola would of been long gone. Hindenburg had to the fact checking.
This means anything that PHIL files is not fact checked by the SEC.
Nope, Geza Holding — https://investorshub.advfn.com/boards/read_msg.aspx?message_id=167189367
If I make up a logo, does it mean the logo is fake?
If I make up a deal, does it mean the deal is fake?
He certainly did, I don’t know how “making up deals” interprets to the loans being fake?!
Well that’s certainly not the HAJ loan you spoke of earlier. Did I say the “Geza loan was fake?”
Well… of course, I flip them! I didn’t believe that Henry could initiate a buyback when they have almost no significant reporting of recurring revenue.
Nope, I did say the website was fake though.
Always a dumb move not to take some profit and double down buying even more shares at lower prices. No matter how much you believe in a stock.
I said that the $100M-$200M was speculation for VF revenues, if you read the whole thread. :)