Petroteq Energy Inc V.PQE.H

Two thirds of the company gone

[BlueMetal75]

Our market cap is down by two-thirds in less than 3 months. The stock is down virtually every day and there is no bottom in sight. Down almost another 10% on the US side (PQEFF) today as I write this. Yes oil has come down, but that's not it - the downtrend was well established before oil peaked in Oct.

Obviously something has gone very wrong. But the company is in quiet mode. No updates on production at Asphalt Ridge or on licensing agreements or royalties. All they seem to be able to do is sell more shares into the market.

I put a nice chunk of change into this, because the technology was so promising, and actually seemed proven...esp after the NYT article. Now I feel like a sap.

The endgame shouldn't be far off. We've destroyed almost $70 million in market cap in last 3 months, only about half that left to the company's name. At this steady rate, we'll blow through that by the end of January. Well before that, things will accelerate. Possible bankruptcy? (shades of US Oil Sands?)

Everyone said economically extracting the Utah oil sands was a pipe dream. Wish I'd listened! This was a very expensive lesson for me.

I can't even look at the share price anymore, it now makes me nauseous.