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Tuesday, 12/05/2017 1:33:29 PM

Tuesday, December 05, 2017 1:33:29 PM

Post# of 257
Here's some $ALYE highlights (knowing what you own)....

From the last quarterly report... pay attention,

During the three months ended September 30, 2017, the average U.S. land-based rig count was over 900 compared to approximately 450 for the three months ended September 30, 2016. The substantial increase in rig count was heavily concentrated in Texas, particularly in the Permian Basin, and our operations in Texas expanded significantly year-over-year.



From the February 8K... successful internal restructuring,

Micki Hidayatallah, the Chairman and CEO of the Company stated: “In 2016, Aly Energy felt the impact of the greatest and longest recession in oilfield activity in the last 20 years. We stayed true to our vision and survived the intense volatility of the cycle. We initiated a 3-prong strategy of cutting costs, maintaining market share, and preserving liquidity.
 
We never sought protection from our creditors through a bankruptcy proceeding and, thanks to the loyal support of our investors, a related party was formed to buy our senior secured debt and leases from Tiger. In conjunction with this transaction, we simplified our balance sheet through the conversion of all outstanding preferred stock, subordinated debt and contingency payments into common equity. Today, all of our debt is held by a related party and we have cash in the bank to meet our commitments in 2017 even if we do not see further improvements in the market until 2018. In 2018, we believe that our customers’ costs will be lowered sufficiently by new technology which will result in increased activity in all forms of drilling, completion and production in the domestic shale basins.
 
Our long-term business strategy still includes growth through the acquisition of other businesses. Currently, we believe that there are numerous acquisition candidates which would be attractive to us and would add value to the Company and we are considering all of these options.
 
It is a great privilege for me to be part of the management of Aly Energy and I want to thank the entire management team and all our dedicated and committed employees for their integrity and, most of all, their loyalty. The acquisition of the senior secured debt and capital leases by a related party and the financial restructuring of the Company would not have been possible without the determination and creativity of the entire Aly Energy team.”
 


I'm a non-professional individual investor who may own, not own, buy, or sell stock at any given time in any security ever mentioned in posts. I never accept compensation in any form to post. Always consult an investment professional when investing.

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