UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934
November 13, 2020
Date of Report (Date of earliest event reported)
PETROTEQ ENERGY
INC.
(Exact name of registrant as specified in its charter)
Ontario, Canada
|
000-55991
|
None
|
(State or other jurisdiction of
incorporation)
|
(Commission File Number)
|
(IRS Employer Identification
No.)
|
15315 W. Magnolia Blvd., Suite
120
Sherman Oaks, California
|
91403
|
(Address of principal executive
offices)
|
(Zip Code)
|
(800) 979-1897
Registrant's telephone number, including area code
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if
the Form 8-K is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following
provisions:
☐
|
Written communications pursuant to
Rule 425 under the Securities Act (17 CFR 230.425)
|
☐
|
Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
☐
|
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
|
☐
|
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
|
Securities registered pursuant to
Section 12(b) of the Act:
Title of Each Class
|
Trading Symbol(s)
|
Name of each exchange on which
registered
|
N/A
|
N/A
|
N/A
|
Indicate by check mark whether the
registrant is an emerging growth company as defined in as defined
in Rule 405 of the Securities Act of 1933 (Section 230.405 of this
chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
(Section 240.12b-2 of this chapter).
Emerging growth
company ☒
If an emerging
growth company, indicate by check mark if the registrant has
elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act. ☐
__________
SECTION 3 -
SECURIIIES AND TRADING MARKETS
Item
3.02 Unregistered
Sales of Equity Securities.
A. On November
13, 2020, Petroteq Energy Inc. (the "Company") offered and
sold 1,416,666 common shares of the Company (the "Offered
Shares"), at a subscription price of $0.06 per Offered Share,
to two accredited investors in reliance on Rule 506(b) of
Regulation D of the United States Securities Act of 1933, as
amended (the "U.S. Securities Act").
B. On November
24, 2020, the Company announced its intention to issue 1,538,461
common shares of the Company (the "Debt Shares") in
satisfaction of $60,000 indebtedness owed to an arms length service
provider. The Debt Shares will be issued in reliance on
exemptions from the registration requirements of the U.S.
Securities Act, and applicable state securities laws, and will be
issued as "restricted securities" (as defined in Rule 144 under the
U.S. Securities Act). The Debt Shares are subject to a
Canadian four-month hold period.
C. An aggregate
60,124,427 common shares (the "Shares") were issued by the
Company pursuant to Rule 506(b) of Regulation D of the U.S.
Securities Act in connection with the transactions previously
disclosed by the Company as follows:
1. On November
13, 2020, the Company issued 1,416,666 Shares to an accredited
investor pursuant to a shares for debt transaction, at a deemed
issue price of $0.06 per Share, in payment and satisfaction of
$85,000 of indebtedness. This shares for debt transaction was
disclosed in Item 3.02 of the Company's current report on Form 8-K
dated October 14, 2020 and filed with the SEC on the same date (SEC
File# 201238941) as then being subject to
completion and execution of definitive agreements and all necessary
approvals, including the approval of the TSXV.
2. On
November 19, 2020, following receipt of TSXV approval, the Company
issued 2,041,095 Shares to two accredited investors pursuant to a
shares for debt transaction, at a deemed issue price of $0.073 per
Share, in payment and satisfaction of $149,000 of indebtedness.
This shares for debt transaction was disclosed in Item 3.02 of the
Company's current report on Form 8-K dated October 14, 2020 and
filed with the SEC on the same date (SEC File# 201238941) as then being subject to
completion and execution of definitive agreements and all necessary
approvals, including the approval of the TSXV.
3. On
November 23, 2020, following receipt of TSXV approval, the Company
issued 56,666,666 Shares to an Accredited Investor pursuant to an
amended and restated debt conversion agreement dated August 15,
2020 wherein,
(i) 45,000,000
Shares were issued at a deemed price of $0.04 per Share as
disclosed in paragraph 2 of Item 3.02 of the Company's current
report on Form 8-K dated July 20, 2020 and filed with the SEC on
July 24, 2020 (SEC File# 201046865) as then being subject to the
approval of the TSXV; and
(ii) 11,666,666
Shares were issued at a deemed price of $0.06 per Share as
paragraph 1 of Item 3.02 of the Company's current report on Form
8-K dated August 19, 2020 and filed with the SEC on September 3,
2020 (SEC File# 201158123) as then being
subject to the approval of the TSXV.
SECTION 8 -
OTHER EVENTS
Item
8.01 Other
Events.
1. On
November 17, 2020, the Company disseminated a news release which is
reproduced below in its entirety.
Petroteq
Energy Signs Non-Exclusive Multi-Site License for Petroteq's Oil
Sands Technology
Company
Retains All Technology and Improvements Plus 5% Royalty on
Product
SHERMAN OAKS,
CA / ACCESSWIRE / November 17, 2020 /Petroteq Energy Inc.
("Petroteq" or the "Company") (TSXV:PQE)(OTC
PINK:PQEFF)(FSE:PQCF), an integrated oil company focused on the
development and implementation of its proprietary oil-extraction
technologies, today announced that Greenfield Energy LLC
("Greenfield") has executed a non-exclusive, multi-site
license with Petroteq (the "License"). Pursuant to the terms
of the License, the License has been granted in consideration for
the funding that Greenfield has provided to date in respect of the
upgrades to Petroteq's existing oil sands plant at Asphalt Ridge,
Utah (the "POSP") being US$1,500,000, and a further
US$500,000 to be invested by Greenfield into the POSP within 20
days. Greenfield is a 50/50 joint venture between TomCo Energy plc
(AIM: TOM) ("TomCo") and Valkor LLC ("Valkor").
The License will
allow Greenfield to use Petroteq's oil sands technology, which
includes Petroteq's processes for the recovery of oil from oil
sands, patents, other intellectual property and know-how, in any
future oil sands plants built by Greenfield in the United States.
The License also clarifies the ownership of any intellectual
property developed as a result of the POSP upgrade and associated
trials or otherwise developed by Greenfield in the future. Any such
intellectual property will be the property of Petroteq and pursuant
to the License, Petroteq will grant Greenfield the ability to
utilise such intellectual property, together with any additional
intellectual property developed by Petroteq, in accordance with the
terms of the License.
For any future
oil sands plants built by Greenfield utilizing the License,
Greenfield will pay Petroteq a 5% royalty of net revenues received
from oil products produced from oil sand resources.
As announced by
TomCo on September 16, 2020, the board of TomCo believes that the
Pre-FEED (Front-End Engineering and Design) Report prepared by
Crosstrails Engineering LLC, a subsidiary of Valkor, provides a
high level of confidence that the processes being utilised at the
POSP can be scaled up to enable commercial production of 10,000
barrels of oil per day ("bopd") from a single site. Proof of
commerciality though is subject to the successful completion of the
upgrade works to the POSP, that are currently being completed prior
to its restart, and the associated trials to demonstrate the
commerciality of the processes used in Petroteq's Clean Oil
Recovery Technology ("CORT") process and the identification
and securing of a suitable site for a commercial scale plant.
Greenfield believes that a combination of the License and know how
being developed through the POSP upgrades and associated trials,
may put Greenfield in a position to develop its own commercial
scale oil sands plant, subject to securing a suitable location and
funding.
Work is being
undertaken by Greenfield pursuant to the work order originally
between Valkor and Petroteq that has been assigned to Greenfield,
under which Greenfield has taken over the management and operations
of the POSP. Work to upgrade the capacity and improve the
reliability of the POSP is progressing as planned, with the restart
of the POSP expected the week of November 30, 2020. Once the POSP
has been restarted, Petroteq intends to undertake a series of
associated tests and trials, to be verified by an independent third
party, to demonstrate both the commerciality of the CORT process
and validate the proposed design for the commercial scale plant,
thereby enabling Greenfield to move forward with the final FEED
report for a 10,000 bopd plant.
In addition,
following the restart of the POSP, Greenfield intends to start
working with Quadrise, regarding a trial of Quadrise's MSAR®
technology at the POSP. This will initially comprise the supply of
oil samples produced by the POSP to Quadrise to enable them to
undertake test work in the United Kingdom to finalise the required
MSAR® formulations, before the planned on-site demonstration trial
to produce approximately 600 barrels (100 tonnes) of MSAR® which is
intended to be undertaken during Q1 2021.
George
Stapleton, Petroteq's COO, commented "We appreciate the confidence
shown by Greenfield in Petroteq's CORT process for the extraction
of heavy oil from oil sands and look forward to supporting the FEED
and detailed design for Greenfield's proposed initial 10,000 bopd
facility. We are hopeful that once the commerciality of the CORT
Process has been independently verified, Petroteq will be in a
position to license its oil sands technology to other
operators."
About
Petroteq Energy Inc.
Petroteq is a
clean technology company focused on the development, implementation
and licensing of a patented, environmentally safe and sustainable
technology for the extraction and reclamation of heavy oil and
bitumen from oil sands and mineable oil deposits. Petroteq is
currently focused on developing its oil sands resources at Asphalt
Ridge and upgrading production capacity at its heavy oil extraction
facility located near Vernal, Utah.
Petroteq
believes that its technology can produce a relatively sweet heavy
crude oil from deposits of oil sands at Asphalt Ridge without
requiring the use of water, and therefore without generating
wastewater which would otherwise require the use of other treatment
or disposal facilities which could be harmful to the environment.
Petroteq's process is intended to be a more environmentally
friendly extraction technology that leaves clean residual sand that
can be returned to the environment, without the use of tailings
ponds or further remediation.
For more
information, visit www.Petroteq.energy.
Forward-Looking Statements
Certain
statements contained in this press release contain forward-looking
statements within the meaning of the U.S. and Canadian securities
laws. Words such as "may," "would," "could," "should," "potential,"
"will," "seek," "intend," "plan," "anticipate," "believe,"
"estimate," "expect" and similar expressions as they relate to the
Company are intended to identify forward-looking information,
including: Greenfield investing a further US$500,000 into the POSP
within 20 days pursuant to the License; the commerciality and
production (including bopd) from the POSP; the restart of the POSP
the week of November 30, 2020; Petroteq intending to undertake a
series of associated tests and trials, to be verified by an
independent third party, to demonstrate both the commerciality of
the CORT process and validate the proposed design for the
commercial scale plant; Greenfield moving forward with a final FEED
report for a 10,000 bopd plant; the intended work, and timing
thereof, by Quadrise; and the design for Greenfield's proposed
initial 10,000 bopd facility. Readers are cautioned that there is
no certainty that it will be commercially viable to produce any
portion of the resources. All statements other than statements of
historical fact may be forwardlooking information. Such statements
reflect the Company's current views and intentions with respect to
future events, based on information available to the Company, and
are subject to certain risks, uncertainties and assumptions,
including, without limitation: the Company and its partners having
the resources and services available to continue and complete work
on its plant; equipment required to restart the plant being
delivered on time; and the plant producing as expected. Material
factors or assumptions were applied in providing forward-looking
information. While forward-looking statements are based on data,
assumptions and analyses that the Company believes are reasonable
under the circumstances, whether actual results, performance or
developments will meet the Company's expectations and predictions
depends on a number of risks and uncertainties that could cause the
actual results, performance and financial condition of the Company
to differ materially from its expectations. Certain of the "risk
factors" that could cause actual results to differ materially from
the Company's forward-looking statements in this press release
include, without limitation: uncertainties inherent in the
estimation of resources, including whether any reserves will ever
be attributed to the Company's properties; since the Company's
extraction technology is proprietary, is not widely used in the
industry, and has not been used in consistent commercial
production, the Company's bitumen resources are classified as a
contingent resource because they are not currently considered to be
commercially recoverable; full scale commercial production may
engender public opposition; the Company cannot be certain that its
bitumen resources will be economically producible and thus cannot
be classified as proved or probable reserves in accordance with
applicable securities laws; changes in laws or regulations; the
ability to implement business strategies or to pursue business
opportunities, whether for economic or other reasons; status of the
world oil markets, oil prices and price volatility; oil pricing;
state of capital markets and the ability of the Company to raise
capital; litigation; the commercial and economic viability of the
Company's oil sands hydrocarbon extraction technology, and other
proprietary technologies developed or licensed by the Company or
its subsidiaries, which currently are of an experimental nature and
have not been used at full capacity for an extended period of time;
reliance on suppliers, contractors, consultants and key personnel;
the ability of the Company to maintain its mineral lease holdings;
potential failure of the Company's business plans or model; the
nature of oil and gas production and oil sands mining, extraction
and production; uncertainties in exploration and drilling for oil,
gas and other hydrocarbon bearing substances; unanticipated costs
and expenses, availability of financing and other capital;
potential damage to or destruction of property, loss of life and
environmental damage; risks associated with compliance with
environmental protection laws and regulations; uninsurable or
uninsured risks; potential conflicts of interest of officers and
directors; risks related to COVID-19 including various
recommendations, orders and measures of governmental authorities to
try to limit the pandemic, including travel restrictions, border
closures, non-essential business closures, quarantines,
self-isolations, shelters-in-place and social distancing,
disruptions to markets, economic activity, financing, supply chains
and sales channels, and a deterioration of general economic
conditions including a possible national or global recession; and
other general economic, market and business conditions and factors,
including the risk factors discussed or referred to in the
Company's disclosure documents, filed with United States Securities
and Exchange Commission and available at
www.sec.gov (including, without limitation, its
most recent annual report on Form 10-K under the Securities
Exchange Act of 1934, as amended), and with the securities
regulatory authorities in certain provinces of Canada and available
at www.sedar.com.
Should any
factor affect the Company in an unexpected manner, or should
assumptions underlying the forward- looking information prove
incorrect, the actual results or events may differ materially from
the results or events predicted. Any such forward-looking
information is expressly qualified in its entirety by this
cautionary statement. Moreover, the Company does not assume
responsibility for the accuracy or completeness of such
forward-looking information. The forward-looking information
included in this press release is made as of the date of this press
release, and the Company undertakes no obligation to publicly
update or revise any forward-looking information, other than as
required by applicable law.
The
securities referred to in this news release have not been, nor will
they be, registered under the United States Securities Act of 1933,
as amended, and may not be offered or sold within the United States
or to, or for the account or benefit of, U.S. persons absent U.S.
registration or an applicable exemption from the U.S. registration
requirements. This news release does not constitute an offer for
sale of securities, nor a solicitation for offers to buy any
securities. Any public offering of securities in the United States
must be made by means of a prospectus containing detailed
information about the company and management, as well as financial
statements.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
CONTACT
INFORMATION
Petroteq Energy Inc.
Alex Blyumkin
Executive Chairman
Tel:
(800) 979-1897
2. On
November 24, 2020, the Company disseminated a news release which is
reproduced below in its entirety.
Petroteq
Energy Announces That Work to Upgrade the Capacity and Reliability
of Its Oil Sands Plant at Asphalt Ridge Is Nearing
Completion
Company Says
Commissioning of the Plant Now Planned to Begin During the Week of
November 30, 2020
SHERMAN OAKS,
CA / ACCESSWIRE / November 24, 2020 /Petroteq Energy Inc.
("Petroteq" or the "Company") (TSXV:PQE)(OTC
PINK:PQEFF)(FSE:PQCF), an integrated oil company focused on the
development and implementation of its proprietary oil-extraction
technologies, announced that work to upgrade the capacity and
reliability of its oil sands plant at Asphalt Ridge (the
"POSP") is nearing completion with commissioning of the POSP
now planned to begin during the week of November 30, 2020.
The Company is
further pleased to announce that:
All critical
equipment has been received and installed at the POSP. Installation
of buildings over the nitrogen system and the vapor recovery system
and erection of wind-walls at the mixing tank area and decanter
deck were completed this past weekend to better allow for
operations during winter months. Pressure testing of piping systems
is currently underway as part of POSP pre-commissioning activities
in preparation for plant start-up.
All site
personnel completed mandatory Mine Safety and Health Administration
(MSHA) training last week in advance of the restart of mining and
ore handling operations. Rental equipment needed for ore crushing
and handling is scheduled to arrive on site over the course of this
week.
Subcontract
mining quotations have been received and are being evaluated with a
formal mining subcontract expected to be placed this week.
First fills of
solvent and other consumables is expected to be delivered early
next week.
George
Stapleton, Petroteq COO, commented: "We expect to spend most of the
first two weeks of December completing commissioning activities and
shaking down various systems within the POSP prior to once again
operating the full POSP and extracting oil from oil sands. The team
at site has worked around a number of supplier delays and the
impacts of the recent declaration by the Governor of Utah of a
COVID State of Emergency in Utah, but in spite of that we have
successfully remained mostly on schedule and have already begun
pre-commissioning of plant front-end systems. All of us are looking
forward to restarting oil production and validating that the POSP
upgrades have been a success."
In addition, the
Company intends to complete a shares for debt transaction, pursuant
to which it will issue 1,538,461 common shares in satisfaction of
US$60,000 of indebtedness owed to an arm's length service provider.
The Company determined (with the creditor's consent) to satisfy the
foregoing indebtedness with common shares in order to preserve the
Company's cash for use on its extraction technology in Asphalt
Ridge, Utah, and for working capital. The transaction is subject to
completion and execution of a definitive agreement and all
necessary approvals, including from the TSX Venture Exchange. The
common shares issuable pursuant to the transaction will be issued
in reliance on exemptions from the registration requirements of the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), and applicable state securities laws, and
will be issued as "restricted securities" (as defined in Rule 144
under the U.S. Securities Act). In addition, such securities will
be subject to a Canadian four-month hold period.
About
Petroteq Energy Inc.
Petroteq is a
clean technology company focused on the development, implementation
and licensing of a patented, environmentally safe and sustainable
technology for the extraction and reclamation of heavy oil and
bitumen from oil sands and mineable oil deposits. Petroteq is
currently focused on developing its oil sands resources at Asphalt
Ridge and upgrading production capacity at its pilot heavy oil
extraction facility located near Vernal, Utah.
Petroteq
believes that its technology can produce a relatively sweet heavy
crude oil from deposits of oil sands at Asphalt Ridge without
requiring the use of water, and therefore without generating
wastewater which would otherwise require the use of other treatment
or disposal facilities which could be harmful to the environment.
Petroteq's process is intended to be a more environmentally
friendly extraction technology that leaves clean residual sand that
can be returned to the environment, without the use of tailings
ponds or further remediation.
For more
information, visit www.Petroteq.energy.
Forward-Looking Statements
Certain
statements contained in this press release contain forward-looking
statements within the meaning of the U.S. and Canadian securities
laws. Words such as "may," "would," "could," "should," "potential,"
"will," "seek," "intend," "plan," "anticipate," "believe,"
"estimate," "expect" and similar expressions as they relate to the
Company are intended to identify forward-looking information,
including: the timing of the commissioning of the POSP; the
restarting of mining and ore handling operations; the timing of the
rental equipment arriving; the timing of a formal mining
subcontract; the timing of the first fills of solvent and other
consumables being delivered; how the Company intends to spend most
of the first two weeks of December; and closing of the shares for
debt transaction. Readers are cautioned that there is no certainty
that it will be commercially viable to produce any portion of the
resources. All statements other than statements of historical fact
may be forward-looking information. Such statements reflect the
Company's current views and intentions with respect to future
events, based on information available to the Company, and are
subject to certain risks, uncertainties and assumptions, including,
without limitation: the Company and its partners having the
resources and services available to continue and complete work on
its plant; equipment required to restart the plant being delivered
on time; receipt of director and TSX Venture Exchange approval for
the shares for debt transaction; and execution of a definitive
agreement for the shares for debt transaction and all closing
conditions of the transaction being satisfied or waived. Material
factors or assumptions were applied in providing forward-looking
information. While forward-looking statements are based on data,
assumptions and analyses that the Company believes are reasonable
under the circumstances, whether actual results, performance or
developments will meet the Company's expectations and predictions
depends on a number of risks and uncertainties that could cause the
actual results, performance and financial condition of the Company
to differ materially from its expectations. Certain of the "risk
factors" that could cause actual results to differ materially from
the Company's forward-looking statements in this press release
include, without limitation: failure to receive the necessary
approvals for the shares for debt transaction; failure to negotiate
and execute a definitive agreement for the shares for debt
transaction; uncertainties inherent in the estimation of resources,
including whether any reserves will ever be attributed to the
Company's properties; since the Company's extraction technology is
proprietary, is not widely used in the industry, and has not been
used in consistent commercial production, the Company's bitumen
resources are classified as a contingent resource because they are
not currently considered to be commercially recoverable; full scale
commercial production may engender public opposition; the Company
cannot be certain that its bitumen resources will be economically
producible and thus cannot be classified as proved or probable
reserves in accordance with applicable securities laws; changes in
laws or regulations; the ability to implement business strategies
or to pursue business opportunities, whether for economic or other
reasons; status of the world oil markets, oil prices and price
volatility; oil pricing; state of capital markets and the ability
of the Company to raise capital; litigation; the commercial and
economic viability of the Company's oil sands hydrocarbon
extraction technology, and other proprietary technologies developed
or licensed by the Company or its subsidiaries, which currently are
of an experimental nature and have not been used at full capacity
for an extended period of time; reliance on suppliers, contractors,
consultants and key personnel; the ability of the Company to
maintain its mineral lease holdings; potential failure of the
Company's business plans or model; the nature of oil and gas
production and oil sands mining, extraction and production;
uncertainties in exploration and drilling for oil, gas and other
hydrocarbon-bearing substances; unanticipated costs and expenses,
availability of financing and other capital; potential damage to or
destruction of property, loss of life and environmental damage;
risks associated with compliance with environmental protection laws
and regulations; uninsurable or uninsured risks; potential
conflicts of interest of officers and directors; risks related to
COVID-19 including various recommendations, orders and measures of
governmental authorities to try to limit the pandemic, including
travel restrictions, border closures, nonessential business
closures, quarantines, self-isolations, shelters-in-place and
social distancing, disruptions to markets, economic activity,
financing, supply chains and sales channels, and a deterioration of
general economic conditions including a possible national or global
recession; and other general economic, market and business
conditions and factors, including the risk factors discussed or
referred to in the Company's disclosure documents, filed with
United States Securities and Exchange Commission and available
at www.sec.gov (including, without limitation,
its most recent annual report on Form 10-K under the Securities
Exchange Act of 1934, as amended), and with the securities
regulatory authorities in certain provinces of Canada and available
at www.sedar.com.
Should any
factor affect the Company in an unexpected manner, or should
assumptions underlying the forward-looking information prove
incorrect, the actual results or events may differ materially from
the results or events predicted. Any such forward-looking
information is expressly qualified in its entirety by this
cautionary statement. Moreover, the Company does not assume
responsibility for the accuracy or completeness of such
forward-looking information. The forward-looking information
included in this press release is made as of the date of this press
release, and the Company undertakes no obligation to publicly
update or revise any forward-looking information, other than as
required by applicable law.
The
securities referred to in this news release have not been, nor will
they be, registered under the United States Securities Act of 1933,
as amended, and may not be offered or sold within the United States
or to, or for the account or benefit of, U.S. persons absent U.S.
registration or an applicable exemption from the U.S. registration
requirements. This news release does not constitute an offer for
sale of securities, nor a solicitation for offers to buy any
securities. Any public offering of securities in the United States
must be made by means of a prospectus containing detailed
information about the company and management, as well as financial
statements.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
CONTACT
INFORMATION
Petroteq Energy Inc.
Alex Blyumkin
Executive Chairman
Tel:
(800) 979-1897
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
PETROTEQ ENERGY INC.
|
DATE: November 27, 2020
|
By: /s/ Alex
Blyumkin
Alex
Blyumkin
Executive
Chairman
|
_________