Petroteq Energy Inc V.PQE.H

The End....My prediction!

[mrmomo]

Though i'm somewhat familiar with the company & its business, i haven't kept up with current events and the current situation of the company. So i took a quick look to update myself on the status of the company and where they stand right now. And trust me when i tell you that things DO NOT look very good for equity holders.

First off, is it a coincidence that CFIUS decision & all this mess came about right at the time when that small financing was just finalized a few days ago right "at the last minute" before it expired  by months end? Might be reaching here but i find that really bizzare. Also What does Gov't & CFIUS have to do with all of this really? Why is their approval needed in this obscure transaction between two parties of which none of them is either China or Russia? And to process heavy oil Lol? I mean we're talking about oil here not nuclear power plants. This is the first time i see strange S like this in the O&G sector. it's really wierd.

Anyway, just on the superficial aspects, let's say the CFIUS decisions matters, did you really think a far left progress Gov't was going to approve a transaction or project involving fossil fuels? especially one that involves dirty heavy oil lol? Probably not very likely jusy based on those facts. Besides, even CFIUS themselves have stated that their approval is not "mandatory" and the transaction could proceed as normal, they haven't blocked the actual transaction between Petroteq & Viston, they just didn't approve the appilcation. That's it.

In addition, the company's books are in a mess. No revenue to speak of & running out of money to sustain operations, and when i mean sustain operations, i mean just the bacsic overhead to keep the lights on. Their burnrate is 3X times what they actually have in cash, which is nutts! If that last financing falls though, even though it has "closed" they're in deep S. The company being about $2M in debt with financial obligations & long term debt, they're in a tough situation. And i see no way out expect BK or chapter 13 restructuring.

My prediction here, the next piece of news from the company should be a chapter 7 or 13 filing and if they're lucky, they can reorganize. But imo equity holders are done, as they will most likely be wiped out in the process in favor in the debt holders. So a "big mess" is an understatement here. I doubt this ever trades again and if it does it will probably drop another 50% and stay stagnant until BK filing. 

So the message is always the same folks, GTFO if you guys are lucky enough to have the halt lifted anytime soon & this ever trades again. SELL IT ASAP.

GLTA