Home > Boards > US OTC > Delisted > Petrosonic Energy Inc. (fka PSON)

PSON files 2014 Q3 10Q:

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
236T568 Member Profile
Member Level 
Followed By 116
Posts 36,793
Boards Moderated 7
Alias Born 09/06/12
160x600 placeholder
236T568 Member Level  Thursday, 11/27/14 12:13:27 PM
Re: None
Post # of 772 
PSON files 2014 Q3 10Q:



http://www.sec.gov/Archives/edgar/data/1451654/000149315214003658/form10q.htm

Revenues = 0

and it appears that, after tall this time, the process never worked:




Discussions with Sonoro Energy Ltd.


On July 27, 2012, pursuant to the terms of an Asset Purchase and Sale Agreement we acquired certain assets from Sonoro Energy Ltd., including technology relating to the treatment and upgrading of heavy oil by sonicated solvent de-asphalting, two sonic reactors and a solvent recovery system. Upon extensive testing of the Sonoro assets after the closing date, we determined that additional development was required to bring the purchased assets to the specifications that we were promised by Sonoro. We corrected the failures of the purchased assets and we are currently in discussions with Sonoro to mutually resolve our differences. If we are unable to resolve our differences amicably, we will consider pursuing our legal and equitable remedies.


Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist