Petroteq Energy $3.96 million Fundraising. Alex Blyumkin Released Sep 14 SEC Form

September 14, 2018 - By Jeanette Kaplan

Petroteq Energy Financing

Petroteq Energy Inc., Corporation just submitted form D because of $3.96 million equity financing. This is a new filing. Petroteq Energy was able to fundraise $3.96 million. That is 100.00 % of the offering. The total offering amount was $3.96 million. The private financing document was filed on 2018-09-14. The reason for the financing was: unspecified.

Petroteq Energy is based in California. The filler’s business is Oil and Gas. The D form was submitted by Alex Blyumkin Executive Chairman. The company was incorporated more than five years ago. The filler’s address is: 15165 Ventura Blvd., #200, Sherman Oaks, Ca, California, 91403. Alex Blyumkin is the related person in the form and it has address: 15165 Ventura Blvd., #200, Sherman Oaks, Ca, California, 91403. Link to Petroteq Energy Filing: 000156118018000005.

Analysis of Petroteq Energy Offering

On average, firms in the Oil and Gas sector, sell 13.77 % of the total offering size. Petroteq Energy sold 100.00 % of the offering. Could this mean that the trust in Petroteq Energy is high? The average investment offering size for companies in the Oil and Gas industry is $227,000. The total amount raised is 1,642.64 % bigger than the average for companies in the Oil and Gas sector. The minimum investment for this financing was set at $0. If you know more about the reasons for the financing, please comment below.

What is Form D? What It Is Used For

Form D disclosures could be used to track and understand better your competitors. The information in Form D is usually highly confidential for ventures and startups and they don’t like revealing it. This is because it reveals amount raised or planned to be raised as well as reasons for the financing. This could help competitors. Entrepreneurs usually want to keep their financing a ‘secret’ so they can stay in stealth mode for longer.

Why Fundraising Reporting Is Good For Petroteq Energy Also

The Form D signed by Alex Blyumkin might help Petroteq Energy Inc.’s sector. First, it helps potential customers feel more safe to deal with a firm that is well financed. The odds are higher that it will stay in the business. Second, this could attract other investors such as venture-capital firms, funds and angels. Third, positive PR effects could even bring leasing firms and venture lenders.

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