Wolf Energy Services Inc (WOEN)

[Oxonius]

Quarterly report just filed with news of next to nothing going on.

Worst news is that, with three weeks remaining, nothing is happening regarding the extension of the supply agreement - I'm assuming that Cameron has not decided to source their manufacturing from another source so I am baffled as to why both companies don't appear to have any relationship or engagement with each other. In other bad news, the anchor of unpaid compensation remains though the till was not further raided during the quarter - getting $52,500 in regular salary for producing $4,500 in revenues was considered sufficient, I guess.

Better news is that they have confirmed the production of face shields though no details are provided with regard to marketing efforts, customer orders or revenues generated (other than that they are "limited" which is a meaningless statement).

Best news is that they have landed around $110,000 in a PPP grant which should be fully forgivable if they maintain a consistent operating presence for the specified period and allocate the money according to the terms of the grant. There's a small SBA grant in the second quarter as well. We should all thank the US Government for this generosity as they have just given us a check for about 25 times as much as all our first quarter revenues combined.