Petroteq Energy Inc V.PQE.H

How Confusing....

[ScarletSpider]

the company 2 days ago closed a private placement of 2.2 million shares at .05 at a nickel for a gross proceeds of $110,000. Is this part of the $18 million intended raise? At the bottom of the press it talks about a debt settlement of 5 plus million and further goes on to state to clarify it is actually 4 plus million so is 4 plus million of the recent proposed 18 million if successfully raised going In part to settle that debt and how much more does this company have? When the company states when operating at 500 barrels per day on a 90 per barrel it says it could be profitable but it also has to take into account all long standing debt which goes back to what I asked how much does it have? I don't know why this company did not consolidate and raise at higher prices as now the dilution will be another 700 million shares plus if I calculated it correctly bringing the share count close to 1.5 billion on if successfully raised 18 million that should theoretically have the plant running at 500 barrel per day which should be profitable does that mean no more raises until the company wants to increase production again. So far as people have said this is printing shares like no tomorrow and has an awful record of getting anything done but I guess given it along with people who bought in thought there was a buyout coming regardless of what was felt about the .74 offer got used to it but did not see the repercussion of things falling through and I obviously coming late seeing the likelihood of the buyout was more likely than not threw money into here and kind of got clubbed although I was wanting Viston to withdrew. Now I still believe longer term this can still do ok providing the company has a clear vision and executes it without by the looks of it from the past anymore internal dissent. This remains a put away and leave stock for me. In fact I will likely do it with axe and pei as well. I am thinking leave all three let them do what they have to and find other things to aggressively build and trade. There are reports claiming that oil and gas companies should be having their healthiest balance sheet in over a decade in 2023. When markets collapse as it has usually it is oil and gas along with energy that brings them out. Oil and gas has been aggressively shorted has lost lots of ground over the past 3 plus years and for the most part did not receive government help. Stupid Trudeau in Canada turned his back on the sector and in fact had the highest looking environment demands placed on companies in this sector which are extremely hard to meet if they are met at all. State side Bidden has opposed various projects that would have stable gas supply coming from Canada to the US and from what I can see did very little for the sector and US in this regards as well as people continue to feel the pinch at the pumps but now it seems Bidden possibly more so than Trudeau looks to be scrambling to remedy this allegedly at one point stated to be thinly veiled looking to Saudi Arabia for some sort of arrangement even though his spokesperson said that was not the reason for going to fly out there. Both badly handled our energy needs where oil and gas should not have been kicked around at least for as long as the so called clean energy transition is more a reality in sustainable levels not one's that are not while being hindered by supply chain issues. Regardless reports from reputable firms like Delotte and Touche indicate that oil and gas should enjoy really good growth and balance sheet moving forward well let's see how true that holds.