Only crap that is an awful 10k bud. You can't make this stuff up. This is truly one of the worst 10k's I have ever seen. $17 million NET LOSS!
Results of Operations
During 2016, we generated $8,352,236 of revenue, down from $13,755,140 of revenue generated in 2015. The decrease in revenue was due to lower rig counts, lower pricing and customer budget constraints.
During 2016, we incurred a net loss of $17,925,248, or a $1.32 loss per share, compared with a $13,394,751 net loss in 2015 or $1.35 loss per share. Cost of services were reduced in 2016 compared with 2015 in line with the revenue reductions, but in order to mitigate the unfavorable market environment during 2016, we continued to monitor and reduce certain non-essential and deferable services and expenditures within our selling, general and administrative and research and development costs.
