Replies to post #2239 on Integrated Environmental Tech. (fka IEVM)

[MSU]

My bid just disappeared for good. You had your chance.

[Garyst]

I'd say overly decent. Net loss was down $300,000 from a year ago this Q. Order flow is returning. Plus, oil today touched a level not seen since very early November. I'd say considering the slump with the overall energy sector we did OK

From their website:

Key First Quarter 2016 Highlights:

Revenues fell significantly year-over-year as IET's customers reacted to the sudden drop in oil prices by idling some production, affecting supplier sales to certain wells. As oil prices have once again stabilized, this situation has now corrected itself and order flow is returning.

Gross margin, despite limited sales, was 58% compared to the 2015 average of 60%.

The Company reduced monthly cash burn for operating activities by approximately $63,000 for the first quarter of 2016 compared to the first quarter of 2015, a 10% decrease.

Operating expenses totaled approximately $722,000 in the first quarter of 2016, a 37% decrease over the first quarter of 2015, and a 4% decrease over the fourth quarter of 2015.

Net loss for the first quarter of 2016 was approximately $770,000 compared to a loss of approximately $1.1 million for the first quarter of 2015 and a loss of approximately $714,000 for the fourth quarter of 2015.

IET launched a new proprietary treatment protocol that, in initial testing, demonstrated a significant production increase in oil field stripper wells and reduction in hydrogen sulfide, iron sulfide scales and bacterial deposits to negligible levels. Preliminary customer interest is high.