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Wavefront Technology Solutions Inc V.WEE.H

Alternate Symbol(s):  WFTSF

Energy Oil & Gas Equipment & Services
Wavefront Technology Solutions Inc. is engaged in the advancement of dynamic fluid injection technology for oil and gas well stimulation and improved/enhanced oil (IOR/EOR) recovery. Through its Powerwave technology, it provides the oil and gas industry to place fluids into the reservoir. The dynamic action of Powerwave’s fluid pulses diverts injected fluids away from established flow paths, achieving better fluid distribution. Its patented Powerwave process is an injection technology that improves the flow of fluids in geological materials, including sedimentary soils and fractured rock. These materials are composed of a solid matrix and pore structure, which contain fluids such as oil and gas. The Primawave process is a method for aiding in-ground environmental remediation clean-up strategies in contaminated sites. Primawave provides the environmental sector with a solution for aiding in the clean-up of contaminated sites. It deals directly with exploration and production companies.


TSXV:WEE.H - Post by User

Wavefront Technology Solutions Inc > Amended agreement and brad resigns
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Comment by Eagle1970on Sep 01, 2022 8:27am
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Post# 34934809

RE:RE:RE:RE:Amended agreement and brad resigns

RE:RE:RE:RE:Amended agreement and brad resigns
In the prior reporting periods, the Company could not recognize revenues related to the previous Agreement due to circumstances beyond the Company's control. The Company will account for revenues associated with the Amending Agreement once IFRS revenue recognition criteria are met. It is the intent of the Company, at this time, to continue, in good faith, to work with the executive management of the E&P client to collect all amounts owed but not recognized. Once IFRS revenue recognition is met, the Company will disclose any such recognition accordingly.
 
The Company also announces that, effective immediately, Brad Paterson has resigned from Wavefront's Board of Directors and as an officer of Wavefront and its subsidiary. Mr. Paterson will remain working with the Company under a contractual arrangement.
 
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