I'm guessing people want to see FTK prove themselves with profits and increased revenues first. They always seem to talk up the future potential. While the actual results disappoint. Of course the right PR could launch it. Good luck with it.
Maybe these small energy stocks are just out of favor right now. I'm watching my ESOA sink lower & lower. Was trading around $3 when it moved up to Nasdaq last month. Then a couple days later it had this crazy AH run all the way to $6 on millions of shares traded and no news. Now the stock is struggling in the $2.30's??
And ESOA reported great numbers last quarter. Fiscal Q1 earnings of .07/share vs a loss the prior year, with revenues up 33%. They had nearly .70/share in cash on the balance sheet. And the backlog soared sequentially from $72.2M on 9/30/21 to $101.6M at 12/31/21. The quarter they report next month is seasonally weaker due to weather, but still might be a decent quarter with that huge backlog. Backlog has likely seen another healthy increase given the recent surge in energy prices. They also won $5.8M in a lawsuit, which will goose earnings in whichever quarter that hits...and likely cause a spike higher. Seems like lots of ways to win on this one. I think ESOA has multi-bagger potential at this price.
From the last 10Q-
In February 2018, the Company filed a lawsuit against a former customer (“Defendant”) in the United States District Court for the Western District of Pennsylvania. The lawsuit is related to a dispute over work performed on a pipeline construction project. On November 9, 2021, the Company was awarded $5.8 million, none of which has been recognized in the Company’s financial statements. The Defendant has filed preliminary motions to request a new trial or a renewed judgement as a matter of law. The Company anticipates that all motions, counter motions, and replies will be submitted to the court by April 5, 2022. The Company believes the judgement order will be issued before the end of fiscal year 2022. A party to a civil lawsuit usually has 30 days from the entry of judgment to file a notice of appeal.
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