$pqeff petroteq management keeps f'ing up. They violated a condition of the offer by changing the capilization. Will wait for additional communication from Viston for the details. But how dare the mgmt screw the shareholders even more by jeopardizing a great offer! Livid!😡
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Hey Laurant, can you explain it a little more? I would appreciate it!
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"The changes to the conditions to the Offer arise from.. (ii) changes made by Petroteq to the capitalization of Petroteq other than pursuant to the exercise or conversion of the Options, Warrants or the principal amount of the Convertible Debentures "
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Ahh gotcha. I mean since I tendered I’m trapped, but hopefully it’s just a small hiccup. Just to be clear, they aren’t saying there’s only been 144 million shares tendered right? There’s a problem with those 144 million?
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$pqeff No probs will 144 mil tendered. Viston was saying as of Nov 30..as per the 10Q there were 793.5 mil shares. But right now there are more that 795 mil shares...implying mgmt kept issuing shares. it is a violation of the offer condition that no extra shares be issued
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yes it is. But they are nevertheless keeping their offer alive. Which shows, that they are really desperate to get this thing done. Most people questioned the seriousness of this offer. Question answered in my view.
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It could go either way. One reason could be the low tendered shares # and they used this as a reason to extend the offer. on the other hand, they probably don't want to be seen as withdrawing the offer for no reason, and hence finding a reason to set the stage for a withdrawal.
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This is a slightly settling part of the PR

Feb 1, 2022 · 4:42 PM UTC