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Dinner for one at The Ritz,
Only about $150 worth today apparently.
TEXC: amazing.....I alerted the symbol would be deleted at end of today and the stock goes up 58% to .0065 on over 30,800 volume. Someone capitalized on other shareholders sleeping or being gullible.
TEXC: effective June 17,2022 CUSIP will be suspended and FINRA will delete the symbol:
https://otce.finra.org/otce/dailyList?viewType=Deletions
Starting to grab more sub .10
Don’t think she’s done yet 1.5 million shares shorted last 4 trading days WOW
https://www.otcshortreport.com/company/TEXC
What a beast so far. Posted on Twitter multiple times. Follow me there if you want bangers people!
.26, 1/2 way there.
Texcom Inc (PK) (TEXC)
0.0511 ? 0.0387 (312.10%)
Volume: 1,436,771 @09/10/21 3:59:55 PM EDT
Bid Ask Day's Range
0.037 0.099 0.02 - 0.1297
TEXC Detailed Quote
I own .56 so a crumb here and there is only a temptation to imagine a 50 bagger for small moments.
Saw it went current today.
Is there a story in here or keeping it alive to dump a A/S.
Looks abandoned
Love the float #
I’ll watch. No news is what I’m suspect now that they can kick back and relax
I seen the filling on otc markets just checking it out. Never seen a tiny float like this, runs fast on low volume. I could see this go crazy for no reason. Bahahah
TEXC.0465 GTSM has been dumping shares here all morning, unsure how he has so many with such a low float, but he was culprit at .10 and .133 and all the way down he has been the sole seller, others have sold some as well, but he has gone through almost 1 mil himself
Interesting 100% short not to long ago could they be burning up?
$TEXC dollar vol $122,385, +357% @ $0.054!
I hope you might be right. It can go above this if they thru some news this week along with more fillings.
No telling, Johnstown, thinking it pOps back up and over 10¢, 15¢...$TEXC
OS 11M FLOAT 5M
TEXC .04 was popping off 400k .10's and been slowly dumping down since, filings out dumping starts nice job, why would you not want to go higher with a small float, idiots in charge, lol
$TEXC filed 2020 Annual report and 2 Quarterly reports today...
+518% @ $0.073.
https://www.otcmarkets.com/stock/TEXC/disclosure
11M OS, 5M FLOAT > https://www.otcmarkets.com/stock/TEXC/security
$TEXC: 50Million AS, 11.5Million OS
http://slideplayer.com/slide/6090540/
GO $TEXC
Here is the cover page for the company's financials as posted on the TexCom, Inc. website.
Notice the dates.
TEXCOM, INC. AND SUBSIDIARIES
UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
As of September 30, 2013 and December 31, 2012
and for the Three and Nine Months Ended September 30, 2013 and 2012.
No information from the company. Real good effort from management.
No trading.
It does seem funny that they sold a highly profitable asset in the NORM disposal business and purchased disposal wells from themselves and affiliates in Arkansas. Why is it funny? Because the Arkansas wells were in a gas producing area and collapsing gas prices meant that drilling collapsed.
The Fairness Opinion was never disclosed to shareholders even though it was requested. There is little information provided for shareholders other than late financials filed from time to time.
Management expressed the intention to make the company full filing in the proxy for the shareholders meeting. That didn't happen.
No disclosure is no disclosure.
Looking at their 12/31/2014 balance sheet, they had $.15 of cash per share. I would imagine they would decrease their P&E and Goodwill just based on market factors. They have already disclosed that 2015 was not going to be profitable and I believe at least half of 2016 will not be profitable either, regardless, the assets that they have on the books are very expensive. Most people who invest in disposal wells in high O&G activity areas make their money back in about 5 years. Doesn't look like that will be the case for TEXC to say the least.
As big of a disaster that TEXC has been, their balance sheet has been improved and their royalties have been paid off/no longer exist... If this company was trying to scam people, they accidentally set up a decent looking balance sheet while clearing the way for revenue to be generated and retained easier going forward.
TEXC was at $.0067 PS on like 14,000 shares traded fwiw
TEXC at .0067 - wow this one cratered
I haven't paid any attention to this one recently and haven't held shares for a while
But I'm wondering what happened. Did the insiders just line their pockets and shrug their shoulders when the stock tanked?
I remember there were some disposal wells and other property transfers that involved related parties (who made out well)
Anyone have any thoughts or info on this?
spec
Just got a look at the second quarter and first 6 months financials.
They paid 16 + times a proforma number for the Arkansas disposal wells.
The wells won't make anything. Only 4 drilling rigs running in Arkansas.
Also they awarded themselves (Board and Two Officers) 3,000,000 shares when 7,090,527 shares outstanding. That is an arbitrary 42.3% dilution.
Yeah, I recently sold out, the most painful sell I've ever had. I lost hope. Management certainly doesn't go out of their way to engender confidence in their shareholders. All I need now is what I reinvested into to go up 5-6x and I can break even...although now that I'm out of TEXC maybe it'll go up a lot, haha. Fickle luck.
Texcom Announces Annual Results and Discusses Current Operations
HOUSTON, May 11, 2015/PRNewswire/ -- Texcom, Inc. (OTC Pink: TEXC) (the "Company" or "Texcom"), an environmental services company serving the oil and gas industry, today announced its financial results for 2014 and discussed 2014 achievements and the current status of its operations.
"We completed a number of strategic transactions in 2014 that have given the Company a very clean balance sheet and the ability to focus on core operations and growth," stated Bob May, CEO. Among the major achievements during the year were the following:
Sale of the assets of MB Environmental Services, LLC and the elimination of difficult contractual restrictions
Acquisition of two salt water disposal wells in Arkansas using Company stock to pay over 50% of the acquisition price
Changes to the capital structure of the Company by elimination of the Company's outstanding preferred stock through payment of all accrued dividends, conversion of the preferred stock into shares of common stock, and implementation of a ten-for-one reverse stock split
Financial Highlights for the year ended December 31, 2014 compared to the year ended December 31, 2013:
Revenues totaled $12.39 million, decreasing 22% from $15.90 million.
Net income available to shareholders increased to $8.28 million, increasing 113% from $3.88 million.
Earnings per share on a fully diluted basis increased to $0.92 from $0.54.
Total equity increased to $21.08 million from $5.52 million.
While the Company's focus in 2014, and prior years, was on the completion of strategic transactions, the Company is now poised to focus on improving its core businesses. Of course, the unforeseen drop in oil and natural gas prices will put pressure on our water disposal and oil skimming operations. We believe that we can lessen the impact of the expected reduction of revenues in these services by expanding our NORM services and reducing administrative and operating costs where possible. The results for each of our operating entities in 2014 and the early projections for 2015 are discussed below.
Eagle Ford Environmental Services, LLC ("EFES")
EFES had a challenging year in 2014. First, operators in the Eagle Ford Shale Formation have begun to process their production and flow back water before bringing it to us for disposal. As a result, our oil cut skimmed has decreased dramatically. We sold 8,900 bbl of oil in January 2014 as compared to only 2,500 bbl in December 2014. Second, the drop in oil prices from near $100 to below $50 per barrel has further reduced our skim oil revenues. In addition, in mid-January 2015 the facility was struck by lightning knocking out one of the two receiving terminals. While we expect our insurance providers to cover the cost of cleanup and repair to the facility, we lost about half of our normal disposal volumes from mid-January through early March 2015. As a result, we only sold 1,100 bbl of oil in both January and February 2015. EFES is now fully operational and our disposal volumes and oil sales have begun to recover.
To offset these events, we have reworked our pricing and production sharing arrangements with our operators. However, the oil and gas industry continues to endure pricing pressure and it is likely we will have to reduce our pricing to remain competitive. Further decreases in product prices might lead to operators shutting in their producing wells which would reduce water disposal volumes at EFES.
EFES generated over $1 million of EBITDA in the first quarter of 2014 but generated only $750,000 of EBITDA for the last three quarters of 2014. Under current economic conditions in the oil and gas industry, we expect EFES to generate about $320,000 of EBITDA during 2015.
Texcom Peak Environmental Services, LLC and Texcom Bennett Environmental Services, LLC
The two Arkansas properties acquired in August 2014 generated about $1.35 million in EBITDA in the aggregate for the five months ended December 2014. Due to high depreciation charges, aggregate income before income tax was only $753,000. While not directly impacted by oil price fluctuations since this region produces only natural gas, the decline in natural gas prices has put downward pressure on disposal rates in the area. Further, our primary customer has reduced the volume of water delivered to our facilities by about 50%. To offset this decline, we have pursued another major operator in the area and anticipate executing an agreement for the processing of its disposal water during the latter part of the second quarter of 2015. We expect our disposal volume to be close to capacity as a result of this agreement.
We believe that the Arkansas properties will generate about $3 million of EBITDA in the aggregate during 2015.
Texcom Environmental Services, LLC ("TES")
TES, which provides NORM (Naturally Occurring Radioactive Material) consulting, remediation, and disposal, performed very well in 2014, generating $3.1 million of revenues and EBITDA in excess of $500,000. We believe that our NORM operations can generate increasing revenues and earnings for the Company for several years and, as a result, we intend to make significant investments in TES during 2015. As announced last month, we recently added Don Halter to our staff and we are aggressively pursuing new business opportunities both domestically and internationally. Don is one of the few Certified Health Physicists who specialize in the oil and gas and petrochemical industries. Combined with Alan McArthur and Frank Starkey, Texcom now has an unrivaled team of radiation professionals. Additionally, we are pursuing an optimal location for the construction of a new NORM remediation facility to handle the expected increase in our NORM remediation operations.
We expect TES to generate revenues of approximately $4 million in 2015 and EBITDA in excess of $600,000.
Texcom Gulf Disposal, LLC ("TGD")
Texcom, Inc. owns a 20% equity interest in Texcom Gulf Disposal, LLC, an entity that owns a disposal well and related assets in Montgomery County, Texas. TGD is permitted to dispose of non-hazardous industrial waste; however, TGD has been unable to obtain the necessary building permits to complete the construction of the facility and begin operations. While we believe we will ultimately obtain the building permits, construct the facility, and conduct profitable operations, we have fully reserved for our $704,000 investment in our 2014 financial statements.
Texcom, Inc.
Corporate expenses were exceptionally high in 2014 as we incurred significant transaction costs to complete the transactions noted above, and we incurred significant legal costs for the annual meeting. Corporate expenses are expected to return to a much more normalized level in 2015.
We enter 2015 in solid financial condition with sufficient cash resources and sufficient projected cash flow to meet our debt service requirements and our capital expenditure budget. While we do not expect to generate significant net income in 2015, the foundation has been laid for solid growth and earnings in the future.
Due to the events described above, the Company was not in compliance with its debt coverage ratio as required by its bank loan covenants for the first quarter of 2015. The bank has waived the debt coverage ratio requirement for the first quarter of 2015 but has required a $500,000 cash collateral account. The Company has sufficient liquidity to post this cash collateral without any negative impact on its operations or planned capital expenditures.
About Texcom, Inc.
Texcom, headquartered in Houston, Texas, is a growth-oriented environmental services company with a primary focus on the disposal of nonhazardous wastes generated by the oil and gas industry, and the remediation and disposal of NORM. For more information, please visit www.texcomresources.com.
Forward-Looking Statements
This press release and the financial statements referenced above may contain forward-looking statements, including information about management's view of Texcom, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release or such financial statements other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Texcom, Inc., its divisions and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on Texcom's future results. The forward-looking statements included in this press release and the financial statements are made only as of the date hereof. Texcom cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Texcom undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Texcom.
SOURCE Texcom, Inc.
RELATED LINKS
http://www.texcomresources.com
More by this Source
Texcom Announces Management Changes
Apr 08, 2015, 10:36 ET
Texcom Announces Hiring of Don Halter, CHP
Feb 11, 2015, 15:43 ET
Texcom Announces Engagement of Parthenon EY
Nov 19, 2014, 17:15 ET
Anybody have any thoughts on the recent news announcements?
Getting it right? Stock is down 88% under current management's watch.
They have $9 million in their pockets from selling the NORM disposal company and buying assets from themselves.
Right?
I hope you're right and Bob eventually gets it back on track. I've so far down from cost at this point that I just view this as a dead investment that I'll hold onto for the next few decades and hope it works itself back into the black at some point during that time.
We should be getting results for 2014 in the next few weeks, I think.
Positive analysis show Accumulation is very strong at these low prices bouncing off $0.30. It is tough in the oil patch but TEXC rings a bell for this Canadian investor. Please see >>>
http://s28.postimg.org/a04mec4n1/TEXC_March_17_2015_Page_1.jpg
This has probably turned into a non-profit company. In hindsight this AR deal probably saved their bacon because it is ngas based rather than oil based.
The CEO has executed on what he promised for the most part. If oil prices hadn't crumbled I think they would be in a decent position.
I feel like he is a sharp operator and if anyone can get this back on track he can. That said - I won't be buying any shares at this point until I see they are still profitable.
VFIN on the ask...um, has this turned into a POS penny?
Someone finally dump or was there a leak?
Hello from Canada: The way I see it is that TEXC is still in accumulation mode.It is hard to get the bidding prices filled with the B/A spread on this pink sheet stock. Anyways, here is my annotated stock chart >>>
http://s1.postimg.org/dlgn3krj3/TEXC_March_02_2015_Page_1.jpg
For comic relief, here is DILBERTS take on investing >>>
http://s30.postimg.org/m1zcx4woh/Dilbert_Page_1.jpg
Cheers
what else are you looking at? Thanks.
Bob sold his company (to us) and got a payout for his preferred shares...he doesn't give a sh*t about us, he's good to go.
Sitting at a .03-.05 range pre-split. Unreal.
The Eagle Ford location was selling oil they processed out of the waste water they dispose of. The problem is twofold - the price of oil went down dramatically and the oil operators starting recovering more of the oil from the waste water - so that method of revenue wasn't breaking even and they had to switch to a flat price per gallon method of charging customers.
emailed Bob and he mentioned that the dip in oil prices have hammered them. I think these guys are full of it - laughing to the bank.
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