Petroteq Energy Inc (PQEFF)

[236T568]

actually, wrong

PQEFF has yet to complete the extraction plant and operate it at 1,000 bbl/day, which was supposed to be done by Feb 28th, in order to receive the 2nd tranche from Deloro. So PQEFF defaulted on the agreement with Deloro.

Instead, PQEFF has been financing by issuing common stock at $0.47/share, a significant discount to the market price. If PQEFF didn't need financing it wouldn't be diluting its stockholders by issuing at such big discounts.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=140915158

and speaking of dilution, PQEFF received another $1.1 million cash from PQEFF in addition to the $2.5 million first tranche that it had already received and then issued Deloro 3.6 million PQEFF shares PLUS 3.6 million warrants...

this is bad bad news for current PQEFF stockholders

Actually, Petroteq rescinded the deal because it no longer needed Deloro for financing ... which sounds very promising indeed