Never intended to buy any oil fields. Induction based on: 1) Many tiny companies with much less cash were able to secure an oil field stake (e.g.: Molori, Petroteq) 2) Ex-CEO Boutte's contractual "gag-order" promising steep penalties if he ever discusses what was going on.
So what was going on? Educated guess is that, given the difficulties any Abramovich backed company would have in a purchase (due to seller's perception of buyer's unlimited capital access) PledgeP served as a front. Boutte would enter negotiations, get confidential information, go to his board (Zotos), which would then cancel the deal. At that point, some anonymous LLC would appear and buy the 'distressed assets" for a song. Boutte eventually realized what was up, went off the reservation, and ended up insulted the principal by buying a new domain for the company and calling it PledgeP (an oblique reference to the "fake news" Trump/Moscow incident). Boutte fired.
And Plasma Pulse tech? Propell developed new functionalities that are still being actively marketed in Mexico (along with Cavitation) and in Canada (check out the Technovita website).
End result--Pledge was a good investment and has served its purpose.
Abramovich gets all the IP and capital (minus development costs) back. Payment for IP goes straight into Zotos/Huemoeller shell company (AWE has no assets or sales; technology on AWE website is copy of ctinanotech.com patents) Seems equivalent to Zotos/Huemoeller getting about $325,000 each. Expect share price to plummet after deal goes through. Note that MMs are currently using typical strategies to artificially prop up share price, as they'll shortly be able to cover their positions at a steep discount. IMHO do your own dd
