All of the official information is on the company website http://btl.co/ and SEDAR http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00032415#
There are no known paying customers at this point according to what can be found on the Internet, but they do have serious engagement from very large energy companies in Europe. That industry does require long term (months) tests in production of new technology before adoption, and so the fact they have a production pilot going does mean that they are a significant front runner in the industry (this is just my opinion).
Some influential commenters are starting to say that the company is fully valued at this point. However, BTL's plan is to release something in early 2018 (see SEDAR, above), and that news should have a positive effect on the real valuation. So the question is at what point has the market already priced in that value.
BTL was #1 being sold yesterday by insiders with a net outflow of $750000 on the TSXV. The insider trading summaries are daily. They are set to be discontinued in March, for the stated reason that they put large investors at a disadvantage. You should also know that they can sometimes overstate the size of the selling because non-insider trades can get bundled in to the insider trades. Given all of that, I still think the odds are that an insider or insiders did sell a very large amount yesterday. https://www.tmxmoney.com/en/research/itm_important_info.html
https://app.tmxmoney.com/research/insidertradesummaries?locale=EN
VELA technologies holds a large number of shares in BTL (about 600000) and have been selling about 10000 per week for the past four weeks. Not much of a concern, considering the very large position and slow unwinding.
www.iii.co.uk/research/LSE:VELA
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