REVENUES DOWN 75% FROM Q2 2011 $877,000 VERSUS $3,400,000... REAL BAD.
$1.4m LOSS FOR QUARTER $3.1M LOSS YTD VERY BAD
CASH DOWN $500,000
CURRENT ASSETS $5.4m CURRENT LIABILITIES $12.7m WOW... THAT IS DEVASTATING,,, THIS COMPANY IS DONE... AN INCREASE OF $3.2 MILLION IN LIABILITIES. A QUICK RATIO OF .4 THEY CAN'T PAY THEIR BILLS.. THEY ARE OUT OF BUSINESS
If they go into bankruptcy will it be the liquidation type or a restructuring? Seems like the Alaska property would be worth a fortune.Somebody at the Oxford Club Meeting told me that acreage could have a Billion Barrels of Oil under it??