Petro One Energy Corp CUDBF

july 28th news release

[Tornado69]

I believe worst case scenario they go back to the model that was in the july news release where they take no 4 million equity position in POP and instead increase the first phase funding to 18 million. They are commited they didn't have a big ceremony with news stations, korean gov't officials and korean business to just back out of the position because of a minor roadblock. This deal will be done. No equity position would actually be better IMO as we then don't get a 16 million share dilution ( although it's not a horrible thing with this type of deal).

[investderp]

It sounds like they only make up $2,150,000 / $4,000,000 (or perhaps even $6,000,0000), so presumably the rest of the PP is going to other investors.  I don't think they can undo the PP entirely, as other people have since bought in, no?  

[biggeriron]

Thanks, Toronado for reminding us. Yes, its very possible that the unfunded amount could roll into an increase in JV funding, in accordance with one of the agreements. If this is the case, it seems to me that the first agreement is quite clear on this point, and the Company should ask for confirmation that it will be added to the JV funding as of now. However all other equity contributors would