Aztec Oil and Gas Inc. (AZGSQ)

[Helter Skelter]

AZGS BALANCE SHEET

Note Total Current Assets of $8,006,442 vs Total Current Liabilities of ONLY $1,670,879. Also note the increase of ~$2.8M in Total Current Assets from the previous quarter and a whopping ~$11.5M increase in Total Assets from the previous quarter. That, folks, is HUGE!

Note Total Assets of $22,884,268 vs Total Liabilities of ONLY $2,505,362. Also note the decreases in Total Current Liabilities and Total Liabilities from the previous quarter.

Especially note the Shareholders' Equity of $20,378,906. Divide that by the shares outstanding (OS) of 36,886,194 (as of February 28, 2011) and we can derive a share price of $.55 based on shareholders' equity alone.

Overall, a very nice looking balance sheet, in my opinion.