SKPO...DD.
DEBT FREE. NO CD'S.
NO DILUTION FOR YEARS (SINCE 2015 SAME SS)
LOW FLOATER (AROUND 100 MM SHARES). NO PREFERRED SHARES ISSUED.
MOST PEOPLE GOT THEIR SHARES AT 0,05$ IN THE IPO.
THEY ARE HIGHLY DEPEND ON OIL PRICES.
HUGE SPIKE LAST FRIDAY WITH VOLUME.
CHART LOOKS AWESOME (SPECIALLY THE WEEKLY ONE)
Highlights From their last 10Q: (but you'd better read it whole).
2) Security Information
Trading Symbol: SKPO
Exact title and class of securities outstanding: Common Stock
CUSIP: 83084C 108
Par or stated value of Common shares: .001
Total Common Shares Authorized: 290,000,000 as of September 30, 2019
Total Common Shares Authorized: 290,000,000 as of December 31, 2018
Total Common Shares Outstanding: 249,959,400 as of September 30, 2019
Total Common Shares Outstanding: 249,959,400 as of December 31, 2018
Number of shares in Public Float: 107,020,844 as of September 30, 2019
Total number of shareholders of record: 751 as of September 30, 2019
Additional Class: Preferred Stock
Exact title and class of securities outstanding: Preferred Stock
Trading Symbol: N/A CUSIP: N/A
Par or stated value of preferred shares: .01
Total Preferred Shares Authorized: 10,000,000 as of September 30, 2019 and December 31,
2018
Total Preferred Shares Outstanding: 0 (None) as of September 30, 2019 and December 31,
2018
A. Changes to the Number of Outstanding Shares
No events have occurred during the past two fiscal years or any subsequent interim period with the
Company’s total shares outstanding.
Skye Petroleum, Inc. ended September 30, 2019 with 249,959,400 common shares outstanding.
Skye Petroleum, Inc. ended September 30, 2019 with no preferred shares outstanding.
B. Debt Securities, Including Promissory and Convertible Notes
There are no outstanding promissory, convertible notes or debt arrangements
The Company has plans to use the positive cash flow to initiate a marketing program into the Permian
Basin. The vast amount of oil production, Texas proximity, and recent success of our WD-RTU in
Odessa makes it the best choice for our sales focus. The initial effort will be led by former executives
who have industry experience and product knowledge without adding to fixed overhead costs. We will
continue to support sales through the regional distribution companies while also pursuing these direct
sales. We’ve also had interest in our chemistry from industry leading large companies but those sales are
taking longer to develop.
The Company has not sold shares since the first quarter of 2015. The Company increased its net working
capital by $22,965 to $94,010 since December 31, 2018, including $66,070 in cash to fund operations.
During the second and third quarter of 2019, the Company had received inquiries about direct capital
equity investments into our company. However, recently Skye’s stock price has been too low for us
enter into an agreement. If a sale of Skye’s Treasury stock would occur, we would sell shares thru direct
funding and use the capital to expand marketing operations.
Skye Petroleum, Inc. owns ten (10) chemistry’s for the treatment of paraffin, asphaltene and
sludge in various applications throughout the oil industry. Skye is focused on both selling directly
to oil and gas operators who treat their own wells, as well as through distribution channels. Skye
Petroleum continues to distribute products through multiple channels in Pennsylvania, Texas and
Alabama. Skye’s leading technology (Skye Chem Wax Dispersant or WD) is currently serving
multiple purposes in the oil patch. Skye Chem WD is a calculated mixture of solvents, penetrants,
non-emulsifying surfactants pour point depressants ("PPD") and dispersants. The WD is designed
for rapid penetration into the granular areas of paraffin matrix and disrupts the cohesive binding,
allowing the waxes to mix with the produced oil, thus allowing the oil to aid in dissolving the wax.
The PPD and dispersants keep the wax from re-precipitating from the crude oil.
The first chemistry acts as a wedge between the wax crystals breaking them apart and
encouraging them to slide by one another. The second chemistry changes the polarity of the
crystals to a like charge which makes them want to stay away from each other. The third is a
crystal modifier which distorts the edges of the crystals making it very difficult for them to fit
together. The combined action results in much greater flow through the production stream
carrying harmful paraffin's out of the well bore maximizing production and reducing
maintenance costs and down time.
In the first quarter of 2014, Skye acquired a patented technology for the removal of volatile
phosphate from hydrocarbon based fracturing fluids. This will provide more diversification into
Skye’s product offerings. Skye anticipates partnering in the future with another company for sales
and marketing.
Skye has also developed a line of drilling and completion fluids with sales occurring in the
Commonwealth of Pennsylvania in late 2014 and early 2015. Due to the drop in the price of oil,
sales in the fourth quarter of 2014 and all of 2015-2016 slowed significantly as operators
aggressively began cutting expenses and expenditures. Oil producers are forced to decide whether
to spend money to treat wells with paraffin problems or let them go dormant until oil prices are
high enough to make economic sense.
