$PQEFF i am glad there is objective clarity on the exact issue at the focus of the TSX suspension. It is very clear and limited clerical problem satisfying the limitation on SP calculations when issuing share to repay loans. That is pretty straight forward. Its unfortunate it causes the exchange to suspend trading. Now the exchange is reviewing all the loans and conversions to shares to determine adjustments. It appears to simply be the accounting and reporting of the amounts and SP for issued shares for conversion of debt (loans made to Petroteq for promised repayment then later repaid via debt converted to share's issued to the lenders) And the company conversion rates were off and initial disclosures delayed. This part is being further reviewed for corrections.
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@BooBooTheFool @philb808 sorry maybe they didn’t need prior approval but I believe they also violated the maximum discount clause, where they were not allowed to offer shares for debt in excess of a 25% discount of the previous day’s close, I looked at the December 2020 issuance and it is about a 46% discount to the market price of the day before
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