$300 to $3, looks like EQST was a great longterm short
7 year...
2 year...
6 month... (very illiquid)
Syngas International Corp. filed an Amendment to its Articles of Incorporation with the Secretary of State of the State of Nevada to be effective as of May 31, 2007 to:
1. change its name from Syngas International Corp. to Energy Quest Inc.;
2. effect a reverse split of its common stock in a ratio of one new share for every twenty existing shares of common stock; and
3. to increase its authorized capital from 100,000,000 common shares to 200,000,000 common shares.
Results of Operations for Three Months Ended March 31, 2007 and for the Period from December 14, 2004 (Date of Inception) to March 31, 2007
We incurred a net loss of ($2,904,256) since December 14, 2004 (date of inception) to March 31, 2007. As of March 31, 2007 we had a working capital deficiency of $324,856.
For the three months ended March 31, 2007, we incurred a net loss of ($26,216) compared to $373,066 for the same period in 2006. For the three months ended March 31, 2007, our net loss per share was ($0.00), compared to ($0.01) for the same period in 2006.
Lack of Revenues
Since December 14, 2004 (date of inception of Syngas Energy) to March 31, 2007, we have not yet generated any revenues. At this time, our ability to generate any significant revenues continues to be uncertain. The auditor's report on our December 31, 2006 financial statements contains an additional explanatory paragraph which identifies issues that raise substantial doubt about our ability to continue as a going concern. Our financial statements do not include any adjustment that might result from the outcome of this uncertainty.
Expenses
Our total expenses from December 14, 2004 (date of inception) to March 31, 2007 were $2,639,222 and consisted of $2,381,591 in consulting and management fees, $115,561 in general and administrative fees, and $142,070 in professional fees.
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