TSXV:PQE.H - Post by User
Comment by
Malpeque2on Jul 15, 2022 11:09am
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Post# 34827029
RE:ERGO Insurance Bond EFFECTIVE DATE
RE:ERGO Insurance Bond EFFECTIVE DATEIt's not like this deal is backed by real assets like CASH, Accounts Recievable, Inventory, Property Plant and Equipment etc. e etc.
Petroteq looks like a dubious shell company from the TSX-V risen from the ashes based on some unproven oil sands tecq and some leases from the BLM in Utah of some small amount of rocks/sand.
I highly doubt there is anything "special" about either the tecK or the rocks/sand. Nothing proprietary.
So a deal backed by a loan at maybe 100% of the purchase price, from an investment bank or bank called UniExpress Investment Holdings PLC in London, that has done maybe $350M worth of loans from all clients for all years, according to their website, and now "guaranteed" by an insurance bond that is not in place yet........seriously strains the bounds of credulity.