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5K a month? Are they new to PGAS?
Bad_Dog: Are you taking questions for this weeks video?
I would like to know what's the projections for 2018.
Here's one for you! I have stopped looking at the day in day out trading of FUSZ. The reality is there's no liquidity right now in General right now in the OTC because anyone and everyone is going crazy on Canadian Marijuana stocks and Crypto Currency. Every Canadian MJ stock is up 300%-400% in the last month or so and crypto currency is beyond what anyone thought. No one is trading on fundamentals but mainly on hype of an industry. Once both those industry's stabilize the liquidity will shift back here IMO.
You're long! I suggest try staying away a little while. Brings your sanity back.
Looks like this seller is gone. Haven't been following this stock last few days but they seem to have sold in the morning.
If he is gone this stock should start rising.
Rory just unrealized a 1.5MM loss at this current moment since last night because someone sold 150$ 30% lower than the opening price.
Market manipulation anyone?
I'm probably reading to much into it but Rory spoke about a Telecom company in the works and Ian Horowitz sr sales manager liked Todds twitter post of FUSZ. He works at Episilontel a Global telecommunication company.
The wonders of the OTC. A stock I am following posted a comment on twitter that Monday will be exciting, stock up 60% and nothing exists for the company.
PGAS whom just released financials and have proven a cash flow of 1.5MM for the 1st doesn't budge.
Gotta love it!
Would be nice but I think they should make more acquisitions
Looks like the big seller is gone! Time for the climb
Quiet here! Let's spark a convo.
Question for the board: what would you do or expect management to do with the 1.5mm in cash from our YTD net profit?
It seems to be the same seller selling from the last week or so. Someone with a big share count seems to want out. Once they are gone this should go up. There's no reason not too!
$PGAS Petrogress, Inc. Files 3Q Form 10-Q
NEW YORK, Nov. 21, 2017 (GLOBE NEWSWIRE) -- Petrogress, Inc. (OTCMkts:PGAS) filed its Form 10-Q covering financial results for the period ended September 30, 2017. The report was delayed to allow the Company’s accounting staff in Greece and the US to address issues relating to the acquisition of Petrogress Int’l, LLC and Petrogres Africa Co., Ltd., and the formation of PG Cypyard & Offshore Service Terminal Ltd.
Financial results reflected the acquisition of assets in Ghana and Cyprus; these are reflected as additional paid-in-capital, which increased by slightly more than $1 million. In addition, cash and cash equivalents increased by nearly $700,000, and pre-paid expenses and other current assets increased by over $1.6 million. Liabilities are up by $1.3 million, commensurate with increases in accounts payable and amounts due to Mr. Traios under the LOC financing agreement. These additions to cash, pre-payments and accrued expenses reflect the Company’s stockpiling cash and pre-positioning for planned 1Q and 2Q 2018 activities. All-in-all, shareholder equity increased by 28% over 2Q 2017, and total liabilities and shareholder equity increased to over $14 million, representing a nearly 21% increase over 2Q results, and a 44% increase year-to-date.
Quarter-on-quarter revenues declined from $4.4 million to $3.3 million, with a decline in gross profits of $700,000, almost entirely due to reduced crude oil sales from African producers. The Company believes that speculation as to increased oil prices – due predominantly to political developments in Saudi Arabia and other parts of the region – has resulted in production slow-downs and greater storage. The Company also believes that shipments at previous or higher levels will resume in the near-term, as uncertainties resolve, and that projected oil price increases thereafter will allow for higher margins. Operating costs were almost $500,000, or 56%, higher in the third quarter due to one-time costs associated with consolidating the business operations of PIL and PAF, and PIL’s formation of PG Cypyard. Regardless, the Company realized a small profit in the third quarter.
Christos P. Traios, Chairman and President, commented, “Revenues from our shipping business have a floor, and we believe we found it. Our shipping business is dependent on producers who are largely influenced by prices and rumors and projections. Our ships are in good repair and on station, and our suppliers and customers remain in-place. We expect shipping turns and margins to bounce back strongly as political matters resolve. I am frankly more proud of our profit in this difficult quarter than I am of the much larger profits we’ve shown in other, easier quarters. More importantly, we put several pieces into place preparing for activities planned over the next several quarters. We’ve pre-paid anticipated expenses and pre-positioned personnel and assets that we’ll use over the next six to twelve months building our business in Cypriot ports, pursuing important, government-sponsored joint ventures in Libya, and finalizing our offshore production and lease arrangements in Ghana.”
About Petrogress, Inc.
Petrogress, Inc. owns and operates a fleet of tankers from its base in the historic Port of Piraeus through a series of Marshall Islands subsidiaries. Its principal and CEO, Christos P. Traios, has over 30 years of experience in operating and managing shipping operations from Greece. Currently, the Company’s ships trade off the coast of West Africa, transporting crude oil, distillates and refined products. The Company also operates service and shipping facilities at the Port of Limassol in Cyprus and the Port of Tema, Greater Accra, in Ghana. It is actively seeking expansion opportunities, including in operating and developing natural gas production and transmission facilities along with LNG processing in the U.S., refinery operations in north and west Africa, and the transport and sales of LNG in Europe.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
Contact:
Investor Relations
PETROGRESS, INC.
+1 (212) 634-3945
Petrogres@petrogressinc.com
www.petrogressinc.com
NYC: +1 (212) 376 5228
Piraeus: +30 (210) 418 3604
Get the Latest PGAS - Petrogress, Inc. News & Updates!
The company can also take some of their net profits and hire an IR.
How come mods are not updating the ibox nor adding any stickies with the fins results?
Haha start making calls!!
Any well managed company who knows revenue is not meeting their expectations will find other ways to increase shareholder value. PGAS increased their profits with lower revenues and made 2 acquisitions. Management seems to know what they are doing here! Haven't been here long enough to know if they also got rid of some expensive contract that was costing them more than actual revenue and if so that was very smart on their end.
That said I think everyone here agrees Fins were better than everyone expected!
That's why I referred it as a GEM. Where do you see an OTC pink with these profits and cash flow and little to no toxic debt?
People are so focused on the marijuana hype and AI that these gems are being overlooked!
Agree but without investor awareness it won't move. So how do we create awareness?
ATTN PGAS Shareholders
AMAZING FINS RESULTS released proving $PGAS is undervalued. Here is a rounded Sum-up of the Q3 Fins for those who don’t want or understand how to read them.
- Total assets are up 2.5MM vs Q2
- Revenue is down roughly 20% vs 2016 *however* cost of goods have decreased from 66% to 45% making 2017 YTD more profitable
- YTD gross profit is 6.2MM vs 5.5MM in all of 2016
- How amazing is this!!! YTD gross profit has already exceeded all of 2016 and we still have a quarter to go!!!!! Best quarter in 2016 was trading at 9 cents a share. We exceeded 2016 profits in 1st 9 months and trading at 3.5 cents a share.
- 2017 YTD Net profit of the business is 1.5MM YTD vs 233K in all of 2016
- Net Income per share YTD is .009 and based on progress of the company end of year should exceed 1 cent per share.
All in all, revenues are down but profits are up and with these 2 new acquisitions our revenues and profits should climb even higher. Not often you find a company with a market cap half of its current assets and lower than its revenue. Happy to be a shareholder here!!!
Revenue is slightly lower than last year but profits are much higher cause they lowered their cost of goods! These financials are amazing for a company trading at 3cents! How is market cap at 6MM but assets at 14MM and 3 quarters of the year 11MM in revs!!!!!
Anyone!!!
Financials are out!!! Net income is up 3x from last year equating 1 cent per share. We should be trading min .045 PPS!
Any shareholders listening can give a small recap? Thanks in advance!
The guys face in between Chris Jackson and I think her name is Stephanie is really funny
Great! The only way this stock will go up no matter how good the fundamentals and charts are is getting liquidity and getting more people interested in this stock
You don't need to be an accountant to see all the red flags! Stewy selling at a loss and claiming a capital loss and buying in something else to make back your money and some is a good investment strategy. Not sure if he told you that too ;)
Oh Hi! Thought I was alone excited about the late filings!!
$PGAS is a hidden gem. Fundamentals are too good here!
- Trading at 0.036 with a market cap of 6MM
- 2016 18MM in revenue and 2015 21MM in revenue.
- Positive cash flow
- Assets alone are worth more than the market cap.
- 2017 expecting a stellar year
- 2 recent acquisitions in Q3
- late filings state increase of shareholders equity by 30%
No brainer investment IMO!!
Anyone on iHub invested in $PGAS. Not sure why there is no excitement here at this time?!? Financials are late because of 2 acquisitions which is supposed to increase shareholders equity by 30%. It's on the N10Q. No brainer investment here!!!
Can someone else here find me a company in the OTC who has a late filing because the end of the quarter they made 2 acquisitions? Don't think so!!!!
"The registrant effected two acquisitions at the end of the reporting period, and it took more time than expected to integrate and consolidate the capitalization and activities of these entities into the registrant’s presentation of its financial results."
Why would someone quit after reading the following in the late filing.
"Among other things, the registrant currently expects that its Liabilities and Shareholder Equity will increase by more than 30% over the last quarter, with similar increases for revenues and profitability. Since the financial statements for the quarterly period ended September 30, 2017 are not yet completed, actual results may differ materially from its current expectations."
This stock should be trading back at at least 7 cents.
The fundamentals are too good here! Positive cash flow, high revenue, low float, assets worth more than current M/C of this company. This is a no brainer.
Really hoping the days of less than 200K volume are over, especially the less than 100K days.
Thank you :)
Why does someone have 116k on the ask. Let it run
I wonder whomever sold at 5 cents last week is kicking themselves in the ass
Rory: please put out a good PR on Monday to keep this momentum going!
Pros and cons for the fins:
Pros:
- in a previous PR VPOR was required to buy 20K grinders at 363K in cost of goods you are looking at 19$ a grinder
- min 12K grinders sold so there is a demand
Cons:
- 500k in revenue mean they are selling to wholesellers at about 45$ a grinder meaning they are making 20$ a grinder in profit and not 80$
- net profit after goods sold was only 134k when they have a net loss of 900K in Q2
- the notes are very alarming. 1.7mm in notes with 1.8mm in accrued interest? Did they borrow off loan sharks?
- the lawsuit for 860k is not good, they settled in shares meaning this shareholder will keep the PPS down in order to take back his money and run. Given there is no liquidity he will sell daily and not a lump sum.
With their current 1MM in net losses and at 20$ profit on average a grinder they need to sell 500K grinders. They need to increase their margins to sell to these distributors.
Although IMO these are not good results. I was expecting so. It will take a while to pull themselves out and that's assuming the demands stays.
Do we know when the RRBB should be done auditing ARYC? Before 2018 or during?
He told me he doesn't use iHub. Would be nice to get him on a SHAC call though
I would like to hear in a PR who the other 9 influencers are and if we got this Telecom company.