Alex also said dilution coming to an end and focusing on business expansion from the pr yesterday. I will take him at his word since the pps is basically bottomed out there is more upside than downside at this point.
OTC Pink: LEXG) (PINKSHEETS: LEXG), announced today that it is finalizing an agreement this week to sell its interest in Tero Oilfield Services. The goal of the transaction is to allow for that capital to pay for testing and corporate overhead. The company is focused on not taking on any more dilutive investment while imminent testing of the water unit in the US and the oil unit in Canada are taking place.
We successfully tested the technology over a year ago, and we are finally close to seeing the water unit test in the field for water desalinization and the oil unit for upgrading hydrocarbons. We cannot dig a deeper hole of debt so close to these testing initiatives, commented CEO Alex Walsh. We are exploring investment into a few oil and gas opportunities that have been presented to us. However, the only investments we will take on at this stage are debt instruments into a subsidiary entity that do not have any conversion rights into the public company. Field testing of the Soncav units is our primary focus.
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