The graphs illustrate an extremely various growth on June 21; the price closed at Can$0.1625, and with some change, it was at Can$0.1550. June 30, the share jumped to Can$0.1900 from Can$0.1550, defined by 22%. Since the beginning of the months, shares are markedly dropped to Can$0.1150, and after a lower point, it has recovered by almost Can$0.1750.The Schall Law Company, a national shareholder rights litigation firm, has announced that it investigates accusations of securities law violations on behalf of Petroteq Energy Inc. investors. The investigation is looking into whether the Company made false or misleading statements to investors or omitted to disclose information that was important to them. After the market closed on July 16, 2021, Petroteq released a press release titled Petroteq Reports anticipated Late Filing of Financial Statements and Application for Management of the Cease-Trading Order.
The Company announced that some financial statements for the years 2018 through 2021 could not be relied upon and restated. The Company also stated that it would not be able to file its quarterly announcement on Form 10-Q for the duration ended May 31, 2021, until the planned restatements are completed, which is expected to take several weeks well past the extended filing deadline of July 20, 2021.