|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 12, 2018 - Nov 16, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.27|
Victory Oilfield Tech, Inc. (OTCQB: VYEY) ("Victory" or the “Company”) today announced operating results for the three months ended June 30, 2018 and recent highlights. Victory converted $1,410,200 of debt financing proceeds from affiliate Visionary Private Equity Group I, LP (“VPEG”) into equity, which reduced a large balance sheet liability. On August 2, 2018, Victory announced the acquisition of Oklahoma based oilfield service company Pro-Tech Hardbanding Services, Inc. (“Pro-Tech”).
Victory Oilfield Tech, Inc. (VYEY) ("Victory" or the “Company”), today announced that it has acquired Oklahoma based oilfield service company Pro-Tech Hardbanding Services, Inc. (“Pro-Tech”). Pro-Tech is on an active growth curve and is expected to generate $2 million of gross revenue this year, which, if achieved, will reflect an increase in revenue from last year. The Pro-Tech acquisition is just one part of Victory’s plan to acquire and grow strategic oilfield services companies in the major oil and gas basins of the United States.
Victory Oilfield Tech (VYEY) ("Victory" or the “Company”) today announced that it is presently raising up to $7 million of new capital to help accelerate the Company’s expansion into the oilfield energy-tech industry through a Private Placement. Kenny Hill, Victory’s Chief Executive Officer, commented, “We are pleased to begin our funding initiative as it is the final step in our plans to become a well-capitalized, technology-enabled, oilfield services technology business. The combination of friction and torque reduction combined with enhanced wear and corrosion resistance extend the life of the industries’ most expensive equipment and enhances well outcomes and economics.