Alaska Pacific Energy Corp. (ASKE.OB)reported today that the Amended Share Purchase and Sale Agreement between the Alaska Pacific and Engineering Technology Inc. which was slated to be finalized on October 31, 2010, will not be completed and is null and void. Despite Alaska Pacific Energy making a legitimate and timely offer to purchase Engineering Technology, Inc. for the full amount as agreed to in the purchase agreement, the Company decided to remain a private company and turned down the offer.ASKE has a very thin trading history and only approximately 5.6 million shares in the float. Someone liked the termination of the deal news apparently, though, as the stock price has climbed from $.10 to $.19 with 1,250 shares changing hands.
