Differences in 1Q11 and 1Q10:
O&G revenues up about 10% YoY.
(Total revenues down 40% but that's because they sold an asset last year, this year they mostly sold stock)
Expenses down a little
Net loss $ up 10%
Net loss per share down but that's because ...
... there are nearly 60% more shares outstanding now than there were then.
Last year around 33,000,000 shares printed and out there, this year around 52,000,000 shares printed and out there.
Last year they sold about $400K worth of stock in 1Q and had $300K left at the end of the Q.
This year they sold about $5.5MM worth of stock in 1Q and had about $1.5MM left at the end of the Q.
Wowza.
Here's another:
At the end of 1Q10 TIV had 33,157,081 shares outstanding and the PPS was 1.98 for a market capitalization of $65,651,020
At the end of 1Q11 TIV had 51,706,752 shares outstanding and the PPS was 0.50 for a market capitalization of $25,853,376
Wowza, did I do that right?
After a year of selling shares and whatever else they've been doing, Mr. Market (which is a forward looking mechanism) assigned a value to TIV and all of the "great things" they have going them for them, and that market value was 60% lower than it was the year before?
60% ????
Somebody check my math!
jonesie
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