Net loss for the year ended June 30, 2013 was $1,135,084. Net loss for the year ended June 30, 2012 was $497,258.
Sale of Natural Gas and Oil
Freestone does not intend to refine its natural gas or oil production. Freestone will sell all or most of its production to certain purchasers in a manner consistent with industry practices at prevailing rates. Freestone currently sells its natural gas to Tristate ETX, LLC(previously Shoreline Gas, LLC) and sells oil to Bargas, Inc, Superior Crude Gathering, Inc. Under current conditions, we should be able to find other purchasers, if needed. All of our produced oil is held in tank batteries and then each respective purchaser transports the oil by truck. Respectively, our natural gas is transported via pipeline.
During 2013 the Company wrote off the Oil Field assets of Freestone Tech resulting in a $3,000 loss.
Since June 30, 2013 the Company has sold 625,000 shares of common stock for $08 per share totaling $50,000. As of the date of this report there are no other reportable subsequent events.
Funny, I cant find ANY Petrozene sales in the 10K, maybe the 10Q that is due has that information?
