• Company presentation: 2018 goals are acquisition of 1,000 customers by August and debut of enhanced paid version of its Gamify slide out app in October
• MKTDF is seeking to become a leader in physical in-store conversions; sees in-store product launch in February 2019
• Strategy is to convert unknown social media followers into identified email subscribers through games and surveys, thereby establishing platform that drives revenue and branding for clients

DeepMarkit Inc. (TSX.V: MKT) (OTCQB: MKTDF) has set a timeline of goals for this year. They include acquiring 1,000 customers, the launch of paid slide out gamification app product Gamify and the debut of its retail conversion tool by year-end, according to its June 2018 investor presentation (http://ibn.fm/UFpX5).

The company plans a second half 2018 launch of its enhanced Gamify paid slide out app from the current free version, available on multiple major ecommerce platforms such as Shopify (NASDAQ: SHOP) and BigCommerce, and as a plugin with WordPress. It is also readying the debut of its survey product by year-end, the presentation says. In February 2019, MKTDF is looking to an in-store product launch. It explains that more than 90 percent of all retail sales are still made in physical stores. According to site Retail TouchPoints, some 94 percent of all retail sales remain in-store (http://ibn.fm/1L8zO).

MKTDF is a Calgary, Alberta-based technology company focused on the monetization of gamification. It seeks, through incentivized gaming apps, to convert visitors into loyal customers who confirm their identities as they participate. Increasing the conversion rate by only one percent can double revenue, MKTDF’s presentation says.

The company’s proprietary technology platform is patent-pending, and MKTDF represents the only publicly-listed firm focused on gamification. The concept is to capture, through gamification, individuals who wish to earn prizes and discounts via its branded digital games. This results in the creation of loyal customers and increased branding as visitors are converted. MKTDF offers investors the opportunity to become involved in gamification as a monetized tool for business to generate leads, promote products and drive sales.

The stakes are high. P&S Market Research estimates that the global gamification market is expected to grow at a CAGR of 41.8 percent from 2015 to 2022, reaching $22.9 billion. Driving this market are the number of people involved in social sites and the growing penetration of gadgets (http://ibn.fm/6YQcZ). While North America is the largest sector of this market, other regions — notably Southeast Asia — are “likely” to exhibit faster growth during this period, the report says.

Darold Parken, CEO and president of MKTDF, says in a corporate investor video that the company’s markets are international and its ambitions are global (http://ibn.fm/LsaQJ).

For more information, visit the company’s website at www.DeepMarkit.com

• EVIO has completed its acquisition of the award-winning MRX Labs in Oregon
• The company signed a five-year lease agreement for a facility in the cannabis cultivation hotbed of Palm Desert, California
• EVIO has announced the filing and receipt of its preliminary non-offering prospectus with the Ontario Securities Commission in Canada

It’s been a busy summer for leading North American cannabis testing and scientific research provider EVIO Inc. (OTCQB: EVIO), which specializes in providing state-mandated ancillary services to ensure the quality and safety of America’s cannabis supply. The company recently acquired an award-winning testing lab in Oregon, has expanded its California footprint with a five-year lease for a new facility in Palm Desert, California, and has announced the filing and receipt of its preliminary non-offering prospectus with the Ontario Securities Commission in Canada.

MRX Labs Acquisition

On July 11, EVIO announced the completion of a previously announced acquisition of MRX Labs, an award-winning testing lab based in Oregon. EVIO has acquired 100 percent of MRX Labs’ assets, which include equipment, real estate, customer lists, customer contracts, rental agreements and equipment leases (http://ibn.fm/SCJ1W).

The EVIO Labs Portland facility will be moving its personnel and operation license to what has formerly been the MRX Labs Tigard location. The new lab will operate under the name EVIO Labs Portland. Through this move, EVIO will gain additional operating capacity and add statewide business contacts and customers.

EVIO will build on MRX Labs’ reputation of exceptional customer care and service and will work diligently to make the transition smooth and seamless for MRX Labs’ customers. EVIO will be able to provide clients with the same services they have enjoyed through MRX Labs and will also be better equipped operationally to provide all state-mandated cannabis tests in-house for clients throughout Oregon.

Lease Agreement for Palm Desert Facility

On July 10, EVIO announced the expansion of its California footprint with the signing of a five-year lease agreement for a 7,370-square-foot facility in Palm Desert, California (http://ibn.fm/sarde).

The company’s new facility is located centrally to Desert Hot Springs and Coachella and is strategically positioned among the largest cannabis cultivators in Southern California. Marijuana manufacturing operations are not currently taxed there, due to a prior vote by the Desert Hot Springs City Council, and this has attracted many operators to the area.

Desert Hot Springs was the first Southern California city to legalize large-scale cannabis cultivation—a move that caused the surrounding area to be flooded with marijuana growers and developers. Through the signing of its lease for the new Palm Desert Facility, EVIO has entered this leading hub for powerful players within the cannabis industry, like the Coachella Valley Cannabis Alliance Network, and will benefit from being among business leaders who recognize the economic opportunities cannabis brings.

The facility will provide comprehensive compliance testing services as well as research and development for new marijuana products. California recently imposed a July 1 testing deadline that mandated licensed cannabis retailers to only sell lab-tested products. Because of this, EVIO expects to see a substantial increase in the demand for cannabis testing services, and, in anticipation, the company plans to have the Palm Desert facility operational by fall 2018.

Preliminary Non-Offering Prospectus Filing

EVIO also recently announced the filing and receipt of its preliminary non-offering prospectus with the Ontario Securities Commission (http://ibn.fm/DHitI). This filing was a requirement for EVIO to qualify to become a reporting issuer in Ontario, Canada.

Contained in the preliminary prospectus was important information regarding EVIO and its currently issued securities. The preliminary prospectus is subject to amendment, as may be required by the OSC. Once a review has been completed by the OSC and comments provided regarding the preliminary prospectus, EVIO will move forward with filing its non-offering (final) prospectus with the OSC. As soon as EVIO receives the final receipt for the final prospectus, the company will apply to have its common shares listed on the Canadian Securities Exchange.

For more information, visit the company’s website at www.EVIOLabs.com

• Net Element experiencing organic year-over-year growth in all segments
• Total dollars processed for the first six months of 2018 have increased 37 percent over the same period of 2017
• Total transactions processed in the first six months of 2018 have increased to 50.2 million, compared to 35.7 million during the same period of 2017

Global technology and value-added solutions group Net Element, Inc. (NASDAQ: NETE) recently announced significant year-over-year growth in its transaction processing volume (http://ibn.fm/m2sXR).

Net Element’s transaction processing volumes have increased substantially during the first six months of 2018, as compared with the same period of 2017. The total dollars processed by the company between January and June 2018 increased by 37 percent year-over-year, growing from a transaction volume of $1.18 billion during the first six months of 2017 to $1.62 billion during that same time frame in 2018. Net Element’s North America transaction solutions segment has shown the most growth, increasing from $1 billion in the first six months of 2017 to $1.4 billion in 2018 – an increase of 40 percent. This increase has been led by significant growth from the company’s Unified Payments subsidiary. There was a 20 percent increase in international transaction solutions, as well, which grew from $176 million in the first six months of 2017 to $211 million during the same time period this year.

The total transactions processed by Net Element amounted to 50.2 million during the first six months of 2018, up from 35.7 million during the same period of 2017. This was also primarily due to North America transactions, which increased from 20 million to 28.1 million. Total international transactions solutions processed grew from 15 million in the first six months of 2017 to 21 million during the same period of 2018. These results include a reorganization of the company’s mobile payments segment into its international transactions solutions segments. In all segments, growth has been organic.

Net Element’s impressive and ongoing growth across all segments is being driven by the company’s innovative, customer-focused value-added services and products. The company plans to implement measures to ensure continued results from these growth initiatives well into the future.

Net Element also recently announced that independent equity research firm JGR Capital has distributed a research note on the company (http://ibn.fm/IbZ1G). The report highlights developments in Net Element’s Netevia platform and Unified Payments subsidiary; intentions to improve revenue generation by adding a smart solution for secure vendor payments to the Netevia platform; and the intelligent payment solution recently launched by Unified Payments specifically for the multibillion-dollar events industry.

Net Element is a leading global provider of mobile payments and value-added transactional services, delivering market- and industry-specific expertise and solutions and driving growth for its clients by anticipating market changes rather than merely reacting to them. Net Element enables global commerce, focusing on innovative, comprehensive, secure and scalable solutions that allow merchants to streamline their businesses.

At the helm of Net Element is a leadership team composed of industry experts and innovators who each bring a distinctive mixture of vision, leadership, expertise and creative energy to the company.

For more information, visit the company’s website at www.NetElement.com

• REFG has focused its cannabis activities on seeking state licenses in Utah and Vermont to grow industrial hemp; earlier, it acquired SpeedyGrow, which is licensed to grow in Colorado
• Vermont is third state where REFG will seek a state license to grow industrial hemp; it acquired 40 acres in Utah and plans to buy land in Vermont, where it anticipates 2019 harvest
• REFG offers online signup for Green, its FinCEN-compliant integrated gateway that creates a comprehensive virtual banking environment for licensed cannabis providers

Medical Cannabis Payment Solutions (OTC: REFG) has expanded its focus on the cannabis industry and is planning to apply for its third state license to grow industrial hemp. The company says that it will apply for state licenses in Utah and Vermont after already purchasing one when it bought SpeedyGrow, a Wyoming-based firm licensed to grow and process hemp in Colorado (http://ibn.fm/PfsLS).

REFG is a Nevada corporation that has online signup for Green, its financial processing system that creates a cashless financial system for licensed dispensaries and cannabis merchants who are underserved by traditional banks. REFG is now also an expanding state-licensed grower and processor of industrial hemp. The company serves as a first tier payment processor, with its Green platform designed to process transactions by licensed cannabis dispensaries and merchants (http://ibn.fm/0Ze3k).

REFG is looking at multiple properties in Vermont for growing industrial hemp, and it plans to apply and register with Vermont’s Agency of Agriculture Food and Markets. Growers must pay an annual fee and conform to various farming statutes.

In a news release, Jeremy Roberts, CEO of REFG, said, “While we are fully committed to our solution to the banking and financial transaction problems in the state sanctioned marijuana industry, we are pleased thus far with our diversification into CBD extraction. With the recent approval of a CBD based medicine by the U.S. Food and Drug Administration and the Drug Enforcement Agency’s recent clarification, we believe this emerging market is an important focus for our company.” He added that many company stockholders had requested that REFG expand its footprint, and this decision was made in direct response to those petitions. Roberts termed the action “an exciting step” for the company.

REFG previously acquired 40 acres of land to grow hemp in Utah and plans to seek a state license under that state’s recently passed H.B. 302. If approved, that license will enable the company to grow industrial hemp as part of the state’s Department of Agriculture and Food licensing program (http://ibn.fm/iiZwk). These activities, along with its acquisition of SpeedyGrow, represent an expansion by REFG into the state-sanctioned cannabis space (http://ibn.fm/YABPZ).

For more information, visit the company’s website at www.Take.Green

• Cardiovascular diseases are costing the U.S. $1 billion per day in medical fees and productivity losses
• The number of heart attacks is increasing on an annual basis, highlighting the importance of early detection technology
• Zenosense is developing a handheld device that could significantly lower cardiovascular-related death rate and associated medical costs by enabling swift, accurate diagnostic

Health care technology company Zenosense, Inc. (OTC: ZENO) has announced the successful completion of a second round of testing for its MIDS Cardiac™ detection technology – a handheld system designed to rapidly test for certain cardiac biomarkers at the point of care, saving medical personnel crucial time in time-sensitive situations.

Diagnostic devices play a major role in the growth and expansion of the medical technology sector (http://ibn.fm/13GIN). Under development by the company’s MIDS Medical Limited (“MML”) joint venture based at the prestigious Sci-Tech Daresbury campus in the United Kingdom, MIDS Cardiac is a patented handheld POC technology for the detection of heart attack. It is designed to help medical staff rapidly diagnose heart attack at an early stage and improve treatment and patient outcomes. Through the early detection of certain cardiac event biomarkers, MIDS Cardiac is expected to significantly accelerate the triage, diagnosis, treatment and disposition of patients reporting chest pain suspected as symptomatic of a heart attack.

In a news release announcing breakthrough quantitative testing results (http://ibn.fm/UMiEP), Zenosense reported revisions and improvements to the core MIDS technology’s sensor electronics, materially improving on previous electronics testing results announced in 2017. In addition, the sensitivity of the MIDS technology electronics has been nearly doubled.

In 2017, the first next generation troponin assay for the early detection of heart attacks was approved by the FDA for use in the U.S. High sensitivity (HS) troponin assays have long been in use in the rest of the world. Such assays have to be performed on state of the art lab analyzers that are incredibly expensive. The aim of Zenosense is to deliver a handheld device capable of detecting and measuring diagnostic assay beads to support HS troponin assays in the emergency room and clinical settings. Such handheld devices will also prove to be invaluable for the work of paramedics on the go. As a part of the 2018 testing, Zenosense has managed to improve MIDS technology electronics and carry out independent third-party verification of bead numbers.

In a news release, MML managing director and Chief Scientific Officer Dr. Nasser Djennati noted that the project is hugely challenging. “The results of this second round of testing are quite extraordinary, as magnetic detection at this level for this application is unheard of,” he added. The next key step in the development of the technology will be testing microfluidic detection on the revised electronic platform.

Heart disease is a leading cause of death in the Western world. Approximately 610,000 people in the U.S. die of heart disease every single year (http://ibn.fm/4mYXf) – one in four deaths in the country. Nearly 735,000 Americans have a heart attack each year. Cardiovascular disease, including heart attacks and strokes, costs America nearly $1 billion a day in medical fees and lost productivity, according to a CDC Foundation study (http://ibn.fm/Ag7cE). Annual medical costs related with cardiovascular diseases are likely to reach $818 billion, while productivity losses could go over $275 billion by 2030, the same study shows.

According to the World Health Organization, early detection is one of the most important prerequisites for the successful management of cardiovascular problems.

With detection equal or superior to state of the art laboratory analyzers and advanced portability allowing it to be used at point of care, including in an emergency setting, MIDS Cardiac™ would be an absolute game changer which could help save lives and money by enabling a swift diagnosis with previously unheard of accuracy at the point of care (http://ibn.fm/GxOTH).

For more information, visit the company’s website at www.Zenosense.com

• Three-pronged approach to collaborative agricultural study begins on 125-acre industrial hemp project in New Brunswick, Canada
• MCOA’s affiliate marketing program implemented to promote and sell its hempSMART CBD-infused consumer products
• High quality, hemp-derived cannabidiol (CBD)-based consumer products fighting impact of dangerous, synthetic fakes

Marijuana Company of America Inc. (OTC: MCOA) and its joint venture partner, Global Hemp Group Inc. (CSE: GHG) (OTC: GBHPF) (FRANKFURT: GHG), are developing a vertically integrated industrial hemp enterprise by now gaining traction within the farming industry. The partners recently completed planting of industrial hemp on 125 acres at the New Brunswick hemp project located in the province of New Brunswick, Canada. The collaborative effort is supported by a C$10,750 grant awarded by the New Brunswick Department of Aquaculture, Agriculture and Fisheries (“DAAF”).

The grant will be used during the 2018 cropping season in three distinct areas of study. The data collected from the initiatives will help improve MCOA’s and GHG’s management of the crop and benefit all hemp farmers in the region, a press release states (http://ibn.fm/uueaS). Research funded by the grant will focus on the impact that the European corn borer has on the hemp plant. This study will determine if the insect, a voracious pest of more than 250 different kinds of plants, causes economically significant damage to the hemp crop and will investigate control options.

The grant will also be used to explore correcting soil acidity utilizing slag lime, an abundant resource in the region, and to subsidize the use of modern drone technology to monitor field conditions at the farms. Hemp varieties chosen for the New Brunswick Hemp Project can reach heights of over six feet, making it extremely difficult to visually inspect an entire field.

Hawkeye Drone Services (http://ibn.fm/owsNV) has been engaged to scout the company’s hemp farms using drones equipped with multispectral cameras. This specialized equipment will provide a holistic view of a crop’s growth, identify any issues and collect data on soil moisture, temperature and field areas experiencing physical stress that might influence the cannabidiol (CBD) content between plants.

The purity and quality of cannabidiol compounds harvested from the hemp plant is of paramount importance, as MCOA notes in an article published on CannabisNewsWire (http://ibn.fm/1Ivgb). The U.S. Centers for Disease Control stepped in after several dozen people fell ill last year while consuming what they believed was a CBD product but was actually a man-made synthetic CBD. These fake CBD compounds, known as chemical analogs, are dangerous imitations of plant-derived products. These unregulated “designer drugs” bind to human endocannabinoid receptors at astronomically larger quantities than natural cannabinoids, putting the health of users at serious risk, as noted in an article in Hemp Industry Daily (http://ibn.fm/KRppm).

MCOA’s commitment to offering high quality plant-derived products is unmatched, with rigorous testing conducted to validate the purity of the CBD compounds utilized in the company’s hempSMART™ product line. Derived from industrial hemp containing natural CBD compounds, MCOA’s hempSMART™ products contain among the finest quality of botanical supplements on the market. Scientifically driven, each of MCOA’s hempSMART™ products are created to ensure that only the highest quality products reach discerning consumers. MCOA’s hempSMART™ CBD consumer products are researched, developed and sold at www.hempSMART.com.

As an umbrella company supporting a variety of portfolio businesses that participate within the legal cannabis and hemp industry, the majority of MCOA’s offerings relate to the cultivation and distribution of hemp-derived products.

For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com

• PowerBand Solutions’ shares begin trading on OTCQB Venture Market
• PowerBand Solutions’ platform provides disruptive fintech in automotive industry
• Three-phased growth strategy set to solidify PowerBand’s position as industry leader

Effective June 29, 2018, PowerBand Solutions, Inc. (TSX.V: PBX) (OTCQB: PWWBF) (FSE: 1ZV) began trading its common shares on the OTC Markets Group’s OTCQB Venture Market using the ‘PWWBF’ symbol. This move marks a significant step forward for the company, which provides a leading online auction and remarketing platform to buy and sell used vehicles. The company’s common shares will continue to trade on the TSX Venture Exchange and the Frankfurt Stock Exchange.

“With PowerBand’s establishment of a U.S. Head Office in northwest Arkansas and our expansion into the U.S., the timing of our OTCQB listing could not be better,” PowerBand CEO Kelly Jennings stated in a news release. “We are very pleased to offer existing and prospective U.S. investors exposure to the Company through an established and transparent trading platform. Our OTCQB listing will allow us to introduce PowerBand to a broader range of institutional and retail investors in the U.S.”

Based in Burlington, Ontario, PowerBand has built a solid reputation as a technology company providing web-based auction and financing solutions for the automotive industry. The company’s disruptive fintech platform offers an innovative suite of auction, inventory and finance tools designed to meet the needs of a wide range of automotive providers, including dealerships, original equipment manufacturers, commercial fleet finance companies and rental companies.

“Today’s used vehicle market is based on a 110-year-old business model that has never incorporated the needs of the consumer, evidenced by the fact that most consumers consider buying a car on par with visiting a dentist,” Jennings continued. “The problem stems from an archaic process that doesn’t give the consumer clarity and transparency they expect. We view ourselves as similar to an Uber or a Dell—eliminating segmentation and creating a simplistic, transparent sales process other industries have already adopted.”

PowerBand Solutions’ platform creates a virtual transaction space for used vehicle sales that streamlines each phase of the buying process. Dealers upload photos of their vehicles, provide vehicle information, launch an auction and immediately start to receive bids from buyers. The online auction space eliminates the need for a physical auction, reducing the high costs and lengthy timeframe that the more traditional route requires.

In addition to its groundbreaking forays into the used vehicle market, PowerBand’s three-phased growth strategy includes plans to enter other industry verticals, such as recreational and power sport vehicles, heavy trucking and commercial equipment. Phase one focuses on dealers and buyers, phase two is aimed at the commercial industry, and phase three will allow consumers to participate in the auction process and includes development of an automotive industry blockchain platform.

For more information, visit the company’s website at www.PowerBandSolutions.com

• California has 356 bitcoin ATMs/tellers, with Los Angeles having the most machines of any city in the U.S. at 257
• CIIX anticipates higher margins with its own bitcoin ATM network
• Company is already mining for cryptocurrency with ASIC machines and AntMiners at a data center near Seattle
• Company is currently planning its own ICO in second half of 2018 or 2019

ChineseInvestors.com, Inc. (OTCQB: CIIX) is planning to launch its own network of bitcoin ATMs in California and eventually expand it to Chinese-speaking audiences across the U.S. One goal is to achieve higher margins with its own network. It is looking at opening its initial machines in California, beginning with Los Angeles (http://ibn.fm/S3nxk). It has also retained the law firm CKR Law, LLP to assist in the effort.

CIIX offers a comprehensive suite of educational services focusing on virtual currencies. This includes its own website, NewCoins168.com, a daily live broadcast from the NYSE, a podcast and a cable TV show. It also mines with its own ASIC machines and AntMiners for bitcoin and other virtual currencies at a data center near Seattle (http://ibn.fm/T8HWw). The site says that CIIX expects to issue its own ICO in the second half of 2018 or in 2019, creating a virtual investment ‘ecosystem’ for Chinese-speaking investors (http://ibn.fm/o4kIs).

CIIX is a diverse educational and consulting company to the Chinese-speaking community located in China and the U.S. Its primary revenue streams have been from a core of subscriptions and investor relations services.

According to data from Coin ATM Radar, CIIX is planning to enter both a heavily populated state and city in terms of bitcoin ATM machines already in place. The site indicates that there are 356 bitcoin ATMs in California, including 257 in the Los Angeles market, and 2,130 machines in the U.S. nationally (http://ibn.fm/w6mrk).

In a news release, Warren Wang, CEO of CIIX, said, “In addition to continuing to provide investors with news about digital currency, ChineseInvestors.com, Inc., looks forward to continuing to make it convenient and easy for Chinese investors to purchase Bitcoin by providing access to on site customer service representatives available to provide instructions regarding the Bitcoin ATM in both Chinese and English.”

CIIX already hosts a bitcoin ATM machine installed in 2017 by Blockchain BTM, LLC (http://ibn.fm/F2Xko) in the lobby of its San Gabriel, California, headquarters (http://ibn.fm/dfJlU).

For more information, visit the company’s website at www.ChineseInvestors.com

• Company is partnering with Paper Lantern, LLC to deploy the nation’s largest mobile hemp CBD processing service
• Strategic growth offered in the hemp and cannabis industries through diversified services
• Green cashless payment solution platform remains at the core of REFG’s services

Medical Cannabis Payment Solutions (OTC: REFG), a company specializing in state-of-the-art financial services for the medical cannabis and banking industries, recently announced an agreement with a subsidiary of Paper Lantern, LLC that will result in the nation’s largest mobile hemp CBD processing service. The partnership leverages Paper Lantern’s technologies while expanding access to its business pipeline (http://ibn.fm/i50uN).

These groundbreaking mobile hemp CBD extraction labs will be used at hemp farms owned and operated by REFG, as well as farms that have entered into processing agreements with the company. The labs will offer economic benefits, improved processing efficiency, reduced energy consumption and greater control over product quality, all while eliminating redundant layered costs such as transportation. Farmers and capital partners will gain the competitive edge and improved ability to manage supply and demand from seed to sale through this new venture. Plans are in place to have the mobile extraction units established in time to take advantage of the October 2018 harvest.

In a news release, Jeremy Roberts, CEO of Medical Cannabis Payment Solutions, stated, “Our mobile extraction partnership is another step forward in our plan to participate in the hemp and cannabis industries at strategic levels.” The company recently announced plans to acquire land and licenses in various states through its SpeedyGrow subsidiary, further emphasizing strategic growth through diversification within the industry. REFG has expanded into Utah and Colorado with additional plans to grow industrial hemp in Vermont.

Despite the new revenue streams, the company maintains the ‘Green’ platform, a cashless payment solution ensuring FinCEN compliance, as the core of its services. Merchant clients in need of a payment processing and comprehensive banking solution can sign up online. Green is the first and only comprehensive card processing operation that tracks sales and tax collection and empowers businesses with an advanced client management system.

For more information, visit the company’s website at www.Take.Green

• Company has raised $6 million over the past few months to fully fund plans
• Oil extraction to begin at 1,000 barrels a day, escalating to over 8,000 barrels a day within three years
• Petroteq’s patented technology is arousing international interest

Petroteq Energy Inc.’s (TSX.V: PQE) (OTC: PQEFF) (FRANKFURT: A2DYWC) CEO has announced that the company’s aggressive growth strategy is fully funded and ready to kick off, beginning with the extraction of 1,000 barrels of oil per day from its Asphalt Ridge site in Utah from the third quarter of 2018. Petroteq CEO David Sealock made the comments during an interview with news organization Proactive Investors on the sidelines of the recently concluded LD Micro Invitational conference in California (http://ibn.fm/PDSpQ).

Sealock said that the company’s plans are cash flow ready, thanks to the successful fundraising efforts of its chairman. “We are fully-funded right now,” he noted. “Our chairman did a tremendous job in terms of raising $2.5 million in February and another $3.5 million just last month.”

Petroteq has developed and patented an environmentally friendly technology that extracts oil from sand. The company owns a mineral lease to the 3,000-acre Asphalt Ridge site and recently acquired two additional leases of 1,312 acres, bringing the its total contingent resources to 2,541 leased acres and 87.49 million barrels of mineable oil sands.

Sealock outlined a plan that will see the company ramp up production to 8,000 barrels per day by 2021. “We’re making sure that because we have a very aggressive growth pattern over the next four years—another thousand barrels a day in 2019, another thousand barrels in 2020 for a total of 3,000—we’re probably going to speed up our process in terms of 2020 and introduce another 5,000 barrels a day. So, our plan is to basically have capital expenditures in place for 8,000 barrels a day by 2020, 2021.”

The Petroteq CEO voiced his confidence that the technology will put Asphalt Ridge and Petroteq’s technology firmly on the map. “We have a captivating technology that I think is going to show the state of Utah and everyone surrounding as well, that this technology is fit for purpose.”

The company’s cash flow predictions take into account the historical volatility of oil prices and forecast profit even when those prices are at a low ebb. “If you take a look at the 20-year average, oil has always been between about $45 and $70. We run our economics roughly around $47, making sure that if there is a decrease in oil—and there probably will be, right? We’re always set for that,” Sealock said.

“At current prices right now, our cash flow is probably going to be just a little under $1 million a month for our 1,000 barrel a day facility,” Sealock added. “So, again, what we’re doing is we’re planning for the worst but making sure we have the benefits of the best WTI pricing right now in terms of where we’re working.”

Petroteq’s patented oil extraction technology does not leave waste behind or release greenhouse gases. This highly innovative extraction solution has attracted a large amount of international interest, Sealock said. “There is a global market for this type of technology in terms of what we’re looking at, and the conversations we’re having right now are exponential in terms of the interest around this technology around the world.”

For more information, visit the company’s website at www.Petroteq.energy