Sector: Energy | Industry: Oil & Gas Exploration and Production |
Company Contact | |
Address: | 15315 W MAGNOLIA BLVD, SUITE 120 SHERMAN OAKS CA 91403 |
Tel: | N/A |
Website: | https://petroteq.energy |
IR: | See website |
Key People | ||
Vladimir Podlipskiy Chairman of the Board, Chief Technology Officer | Ronald F. Miles Chief Executive Officer, Director | Barry Bergstrom Chief Financial Officer, Director |
Business Overview |
Petroteq Energy Inc. is a clean technology company. The Company is focused on the development, implementation and licensing of a patented, environmentally safe and sustainable technology for the extraction and reclamation of heavy oil and bitumen from oil sands and mineable oil deposits. The Company's subsidiary, Petroteq Energy CA Inc. (PCA), is engaged in the business of exploring for, extracting and producing oil and hydrocarbon products from oil sands deposits and sediments located in the Asphalt Ridge area of Uintah County, Utah. The Company specializes in oil production with ancillary offerings in mining and sand remediation. The Company's clean oil recovery technology (CORT) is used at its Asphalt Ridge Plant to extract and produce crude oil from oil sands utilizing a closed-loop solvent-based extraction system. |
Financial Overview |
For the nine months ended 31 May 2022, Petroteq Energy Inc revenues decreased from $2M to $0K. Net loss increased from $6.4M to $15M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Higher net loss reflects Selling, General and administrative increase from $3.2M to $8.6M (expense), Amortization of debt discount increase from $1.3M to $4M (expense). |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $21.45M as of May 31, 2022 |
Annual revenue (TTM): | $0.00M as of May 31, 2022 |
EBITDA (TTM): | -$17.85M as of May 31, 2022 |
Net annual income (TTM): | -$24.56M as of May 31, 2022 |
Free cash flow (TTM): | -$18.22M as of May 31, 2022 |
Net Debt Last Fiscal Year: | N/A |
Shares outstanding: | 892,052,132 as of Jan 17, 2023 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |