Pennystockplayer, readytrader, thank you. As for the earnings, it wasn't as bad as I thought it would be, but in the same respect I didn't have high expectations. Revenue increased 15%, COSG decreased by 85%, unfortunately the most important number is the bottom line. Down 54% from last quarter. Then assets decreased by 10% and liabilities increased by 5%. To put things into perspective, Esp Resources, Inc. (ESPI) has a debt of $3,980,000. Last quarter there was $2,940,000. So there was a liabilities increase by 35%. It's too bad David Dugas doesn't update shareholders after quarterly earnings. Very disrespectful…
I didn't realize it until now, but ESPI released the NT 10-Q. Very unprofessional in my opinion and I'm noticing this is becoming a trend. ESPI has added almost 29 million shares in the last 12 months, which is an increase of 23%.
I'm not sure if this has been on past earnings report. I just noticed it.
"We are required to obtain licenses and permits from various governmental authorities. As we continue to grow we anticipate that we will be able to obtain all necessary licenses and permits to carry on the activities, and that we intend to comply in all material respects with the terms of such licenses and permits. However, there can be no guarantee that we will be able to obtain and maintain, at all times, all necessary licenses and permits required to undertake our proposed business development. In the event that we proceed with our operation without necessary licenses and permits, we may be subject to large fines and possibly even court orders and injunctions to cease operations."
Its like driving without insurance. It's not worth the risk to save a few dollars here and there…
The only question I have, who's the other customer besides the $600,000 customer ESPI deals with?
Good luck, Gulley
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