re: Pqeff: The Future of Refining Sand Wells

Idk bruh I’m a neverpqeffer now

As in never gonna happen

Still got my shares tho

I think StockTwits said the 45 days puts us in July

Viston put out a PR last week saying that CFUIS accepted their submission May 24 so the 45 day clock started then. The new guidance is for the deal closing sometime after July 7, provided they get a majority tendered again, which seems very likely because they got over 70% last time.

The CFIUS determination could come sooner but they would still want maybe 3 weeks after that so PQEFF holders could have time to tender and CFIUS has the option of tacking on an additional 45 days if they need longer to decide.

The good part is that Viston first did a draft submission and got feedback from CFIUS on what they needed for the final version so that could make things go more smoothly but we'll see.

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I'm tendered.

So, we're hoping for a payout relatively soon after July 7th?

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All depends on when CFIUS makes their determination. They have until August 22 at the absolute latest. I figure the closing date will probably be 3 weeks after we get the CFIUS decision, provided it's a positive one.

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Do we have to tender again if we did already?

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If you are unsure whether your shares are still tendered or not just call your broker to make sure.

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I wonder if that is something inherent to the company and process or just it being dragged down by an all around pessimistic market?

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It's because Viston has a 795 million share cap for the takeover and Petroteq press released an offering last week of up to 18 million shares that, if fully subscribed, would put the fully diluted share count at 806 million so it would exceed what Viston is willing to buy.

That spooked people but the silver lining is that the purchaser of Petroteq's offer is Anthony Cantone, who owns 120 million shares so there's no way he would do anything to scuttle the deal.

After the backlash to the announcement of the raise, Petroteq's representatives, Shorecrest, put out a statement saying that Petroteq would consult with Viston on the situation. But the share price hasn't recovered.

The problem is that Petroteq has to go on with business as usual because this is a somewhat hostile takeover, even though management has said they support it, and Petroteq has bills to pay as the CFIUS process has taken longer than expected. They owe $300k in interest on convertible notes through the end of July.

I don't think anything has changed with the deal and have bought a little more but that's where we are at now. Still waiting for CFIUS.

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It's because Viston has a 795 million share cap for the takeover and Petroteq press released an offering last week of up to 18 million shares that, if fully subscribed, would put the fully diluted share count at 806 million so it would exceed what Viston is willing to buy.

That spooked people but the silver lining is that the purchaser of Petroteq's offer is Anthony Cantone, who owns 120 million shares so there's no way he would do anything to scuttle the deal.

After the backlash to the announcement of the raise, Petroteq's representatives, Shorecrest, put out a statement saying that Petroteq would consult with Viston on the situation. But the share price hasn't recovered.

The problem is that Petroteq has to go on with business as usual because this is a somewhat hostile takeover, even though management has said they support it, and Petroteq has bills to pay as the CFIUS process has taken longer than expected. They owe $300k in interest on convertible notes through the end of July.

I don't think anything has changed with the deal and have bought a little more but that's where we are at now. Still waiting for CFIUS.

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Thanks for the update. I haven't been following it for a while. I did make some money on the run up though.

Looks like some good news. Viston increasing share cap and possibly paying some of the debts for Petroteq until the deal is done. LINK

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I wish Biden would just send me to Ukraine so I could drive with some of that free government gas and eat mres and maybe get me a refugeegf

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I'll be wishing the same thing for you if this PQEFF thing falls through.

Idk I’m hoping if I give up it’ll work


The baws are in txtm right now