Estevan 鈥� Quantum Energy, Inc. is not listed on the Toronto Venture Exchange, nor on the New York Stock Exchange or Nasdaq.
So where is it listed? OTC Pink, also referred to as Pink Sheets. It鈥檚 trading symbol is QEGY.PK:OTC, as listed by a June 27, 2017 letter from 鈥淪tanley F. Wilson, J.D., President and General Counsel,鈥� to OTC Markets Group, Inc.. Wilson had been CEO until May, 2017.
If you haven鈥檛 heard of it, neither had we, nor the accountant or corporate lawyer we asked about it. We did see 鈥減ink sheets鈥� referenced in the opening scenes of Wolf of Wall Street, described in the movie as penny stocks sold over the counter.
The FAQ on otcmarkets.com states, 鈥淲hat types of companies are traded on the OTCQX, OTCQB and Pink markets? Companies that trade on our markets span a broad range of sectors, from the ADRs of large cap conglomerates to small and micro-cap growth companies, SEC reporting companies and community banks; and across all major industries, including metal and mining, financial services, oil & gas, utilities, telecommunications, media, pharma & bio tech, and many others. To create clarity in the investment process, we organize these securities into three tiered markets - OTCQX, OTCQB and Pink - based on the quality and quantity of information companies make available. The 10,000 securities on our markets are traded through our SEC-registered Alternative Trading System, OTC Link ATS.
As of March 9, 2018, Quantum鈥檚 listing on otcmarkets.com stated, 鈥淲arning!听 This company may not be making material information publicly available.
鈥淏uying or selling this security on the basis of material nonpublic material information is prohibited under Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 thereunder. Violators may be subject to civil and criminal penalties.鈥�
In March, 2018, Quantum鈥檚 profile was listed as verified,12/2017, and they were also labeled a 鈥渟hell company, and either dark or defunct, as the Company is not able or willing to provide disclosure to the public markets.鈥� However, by May 19, 2018, that 鈥渄ark or defunct鈥� label was no longer there. The warning in the above paragraph was also no longer present.听
The company鈥檚 annual report, for the year ending Feb. 28, 2018, and posted May 14, 2018, on otcmarkets.com, listed the following as the officers, directors and control persons:
- Jeffrey Mallmes; chairman, president, treasurer and director; 14.91 percent ownership
- Andrew J. Kacic; secretary and director; 18.66 per cent ownership
- William Hinz; director; 0 per cent ownership
- Stanley F. Wilson; no position; 6.19 per cent ownership
- Robert Henry; no position; 6.19 per cent ownership.
That annual report included audited financial statements, as signed by certified public accounting firm deCoria-Maichel-Teague of Spokane, Washington. The firm noted they have served as the company鈥檚 auditor since 2018.
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The Refinery That Wasn鈥檛 series of stories
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