29 Apr 2021director interest notice● Neutral
PETROTEQ ENERGY INC. Exe. Chairman & Interim CEO Aleksandr Blyumkin bought 1,166,666 shares on the open market at $0.06.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
28 Apr 2021capital raising announcement● NeutralMajor
Petroteq completed the debenture deal announced on April 9, 2021 after TSXV approval: it issued 26,334,246 shares (deemed US$0.047) for US$1,227,066.43 of interest and penalties and 15,000,000 shares (US$0.04) for US$600,000 of principal. The remaining US$1,400,000 debenture now matures September 30, 2021 with conversion at US$0.048. Separately, the company says the Asphalt Ridge oil sands plant has restarted and is producing oil after extra equipment was installed; it plans to fine-tune it, possibly move to two shifts if conditions warrant, and is working on design for a 5,000 bpd production train. The restart follows the earlier-than-planned late-2020 targets, and no production figures are given; the improvement expectations are the company's, not yet shown.
21 Apr 2021quarterly activities report▼ Bad
PETROTEQ ENERGY INC. reported a quarterly net loss of $1.0 million for the period ended 2021-02-28.
20 Apr 2021quarterly activities report▼ Bad
PETROTEQ ENERGY INC. reported a quarterly net loss of $1.0 million for the period ended 2021-02-28.
14 Apr 2021late filing notice▼ Bad
PETROTEQ ENERGY INC. notified the SEC that its quarterly report would be filed late.
13 Apr 2021capital raising announcement▼ BadMajor
Petroteq disclosed a run of share issues and debt changes for early 2021: US$445,000 raised from 7,416,666 shares at US$0.06, US$222,000 of new convertible debentures at US$0.0562, a lender converting US$400,000 of principal into 9,708,738 shares, and two debentures extended by a year (to October 19 and December 17, 2021) with warrants at US$0.0475. It also proposed a deal on the US$2,400,000 secured convertible debenture, which had matured on February 20, 2021: US$1,227,066.43 of interest and penalties to be paid in 26,334,246 shares and US$600,000 of principal in 15,000,000 shares at US$0.04, leaving US$1,400,000 with maturity moved to September 30, 2021 and conversion price cut from US$0.40 to US$0.048. Further subscriptions for US$130,000 include US$70,000 from Alex Blyumkin; all of this was still subject to board and TSXV approval. The company says it used shares to preserve cash. This continues the pattern of paying debts with shares, with more dilution. (The share count in the subscriptions was later corrected.)
30 Mar 2021securities registration● Neutral
PETROTEQ ENERGY INC. filed notice of an exempt private placement.
26 Feb 2021director interest notice● Neutral
PETROTEQ ENERGY INC. Chief Operating Officer George Thomas Stapleton II bought 1,000,000 shares on the open market at $0.05.
5 Feb 2021director interest notice● Neutral
Valkor LLC became a PETROTEQ ENERGY INC. 10%+ owner and company insider (initial ownership filing).
29 Jan 2021securities registration● Neutral
PETROTEQ ENERGY INC. filed notice of an exempt private placement.
28 Jan 2021securities registration● Neutral
PETROTEQ ENERGY INC. amended a filing by which it filed notice of an exempt private placement.
26 Jan 2021director interest notice● Neutral
PETROTEQ ENERGY INC. Chief Operating Officer George Thomas Stapleton II bought 1,000,000 shares on the open market at $0.06.
19 Jan 2021quarterly activities report▼ Bad
PETROTEQ ENERGY INC. reported a quarterly net loss of $411 thousand for the period ended 2020-11-30.
14 Jan 2021late filing notice▼ Bad
PETROTEQ ENERGY INC. notified the SEC that its quarterly report would be filed late.
11 Dec 2020securities registration● Neutral
PETROTEQ ENERGY INC. amended a filing by which it filed notice of an exempt private placement.
1 Dec 2020securities registration● Neutral
PETROTEQ ENERGY INC. amended a filing by which it filed notice of an exempt private placement.
30 Nov 2020late filing notice▼ Bad
PETROTEQ ENERGY INC. notified the SEC that its annual report would be filed late.
27 Nov 2020capital raising announcement● NeutralMajor
Petroteq completed several share issues in November 2020 that had been waiting on TSXV approval: 1,416,666 shares at US$0.06 for US$85,000 of debt, 2,041,095 shares at US$0.073 for US$149,000 of debt, and 56,666,666 shares to the Valkor-related debt settlement (45,000,000 at US$0.04 and 11,666,666 at US$0.06), totalling 60,124,427 shares. It also announced a further 1,538,461 shares for US$60,000 owed to a service provider. Greenfield Energy LLC (a 50/50 venture of TomCo Energy and Valkor) signed a non-exclusive multi-site licence to use Petroteq's oil sands technology in return for US$1,500,000 already funded toward the Asphalt Ridge plant upgrade plus US$500,000 more due within 20 days; Petroteq keeps all technology and gets a 5% royalty on net revenue from any future Greenfield plants. The plant restart, previously targeted for late November, is now expected the week of November 30, 2020, with independent trials to follow; commerciality and the 10,000 bopd plant are still unproven. The new shares add dilution.
20 Nov 2020securities registration● Neutral
PETROTEQ ENERGY INC. amended a filing by which it filed notice of an exempt private placement.
18 Nov 2020securities registration● Neutral
PETROTEQ ENERGY INC. filed notice of an exempt private placement.
12 Nov 2020capital raising announcement● Neutral
Petroteq issued a US$500,000 secured convertible note to an arm's length lender, convertible into units at US$0.0562 each (one share plus a warrant at US$0.0562 for 60 months); proceeds go to Asphalt Ridge and working capital. A news release says assays of oil sands samples show 14-18% oil saturation by weight, and the company says its Asphalt Ridge plant is on track to restart in late November. This follows the February 2020 restart and the plant's expansion plans. The restart and output are company expectations, not yet achieved.
4 Nov 2020securities registration● Neutral
PETROTEQ ENERGY INC. amended a filing by which it filed notice of an exempt private placement.
29 Oct 2020securities registration● Neutral
PETROTEQ ENERGY INC. amended a filing by which it filed notice of an exempt private placement.
29 Oct 2020securities registration● Neutral
PETROTEQ ENERGY INC. filed notice of an exempt private placement.
27 Oct 2020securities registration● Neutral
PETROTEQ ENERGY INC. filed notice of an exempt private placement.
27 Oct 2020securities registration● Neutral
PETROTEQ ENERGY INC. filed notice of an exempt private placement.
21 Oct 2020director interest notice● Neutral
Aleksandr Blyumkin became a PETROTEQ ENERGY INC. Executive Chairman and company insider (initial ownership filing).
21 Oct 2020director interest notice● Neutral
PETROTEQ ENERGY INC. Executive Chairman Aleksandr Blyumkin sold 652,976 shares.
15 Oct 2020securities registration● Neutral
PETROTEQ ENERGY INC. amended a filing by which it filed notice of an exempt private placement.
15 Oct 2020securities registration● Neutral
PETROTEQ ENERGY INC. amended a filing by which it filed notice of an exempt private placement.