Everything highlighted in red is preventing me from taking a substantial position here:
Per the latest 10k.
Risks Related to our Business:
We have a limited history operating in the oil and gas industry. As a result, it is difficult for potential investors to evaluate our business and prospects.
We entered the oil and gas business in December 2009. Our limited operating history makes it difficult for potential investors to evaluate our business or prospective operations. Since our formation, we have generated only limited revenues. As an early stage company, we are subject to all the risks inherent in the financing, expenditures, operations, complications and delays inherent in a new business. Accordingly, our business and success faces risks from uncertainties faced by developing companies in a competitive environment. There can be no assurance that our efforts will be successful or that we will ultimately be able to attain profitability.
We have a history of net losses which will continue and which may negatively impact our ability to achieve our business objectives.
For fiscal years 2014 and 2013, we had revenue of $621,548 and $736,613 and a net loss of $836,234 and $1,349,568, respectively. We cannot guarantee that our future operations will result in net income. We may not be able to operate profitability on a quarterly or annual basis in the future and we will likely continue to have net losses for the foreseeable future. If our revenues grow more slowly than we anticipate or our operating expenses exceed our expectations, our operating results will suffer.
We will need additional financing to execute our business plan.
The revenues from our current operations are not sufficient to support our operating costs and anticipated drilling programs. We will need substantial additional funds to: 1
? effectuate our business plan;
? fund the acquisition, exploration, development and production of oil and natural gas in the future;
? fund future drilling programs; and
? hire and retain key employees.
We may seek additional funds through public or private equity or debt financing, via strategic transactions, and/or from other sources. There are no assurances that future funding will be available on favorable terms or at all. If additional funding is not obtained, we may need to reduce, defer or cancel drilling programs, planned initiatives, or overhead expenditures to the extent necessary. The failure to fund our operating and capital requirements could have a material adverse effect on our business, financial condition and results of operations.
Our auditors have expressed substantial doubt regarding our ability to continue operations as a “going concern.” Investors may lose all of their investment if we are unable to continue operations and generate revenues, or if we do not raise sufficient funds.
We will seek to raise additional funds to meet our working capital needs principally through the additional sales of our securities. However, we cannot guarantee that we will be able to obtain sufficient additional funds when needed, or that such funds, if available, will be obtainable on terms satisfactory to us. If we do not raise sufficient funds, we may not be able to continue in business. As a result, our auditors believe that substantial doubt exists about our ability to continue operations as a going concern.
The only good thing about UAPC are the technical charts. It's definitely a good trade though, but longterm....hmmm.....can't call it. Need more information here.
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