News out: Amazing financials, Acquisitions, Preser
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Posted On: 11/21/2017 11:26:49 AM
News out: Amazing financials, Acquisitions, Preserved Tiny Float
Amazing Quarterly Results 11/20/2017
https://ih.advfn.com/p.php?pid=nmona&article=76134220
- Total assets are up 2.5MM vs Q2
- Cost of goods have decreased from 66% to 45% making 2017 YTD more profitable
- YTD gross profit is 6.2MM vs 5.5MM in all of 2016(YTD gross profit has already exceeded all of 2016 and and still have a quarter to go)
- 2017 YTD Net profit of the business is 1.5MM YTD vs 233K in all of 2016
- Net Income per share YTD is .009 and based on progress of the company end of year should exceed 1 cent per share.
Excellent SS:
Authorized Shares 490,000,000 a/o 11/20/2017
Outstanding Shares 177,995,907 a/o 10/20/2017
http://ih.advfn.com/p.php?pid=nmona&artic...ymbol=PGAS
Christos P. Traios, President, CEO and Chairman, owns 135,000,000 shares of stock, comprising approximately 75% of the Company’s issued and outstanding shares of common stock.
https://ih.advfn.com/p.php?pid=nmona&article=75928512
11/08/2017 Petrogress, Inc. Forms Cypriot SPV to Operate Limassol Port FacilityPetrogress Int’l LLC will deal directly with the Cyprus Ports Authority on Hellenic Cyprus ports
https://finance.yahoo.com/news/petrogress-inc-forms -cypriot-spv-130000033.html
NEW YORK, Nov. 08, 2017 (GLOBE NEWSWIRE) -- Petrogress, Inc.(PGAS) announced today that it has formed “PG Cypyard & Offshore Service Terminal Ltd. (“Cypyard”) (Org. No. 529036) through Petrogress Int’l, LLC, its wholly owned subsidiary. Cypyard was formed under the Cyprus Companies Law, Cap. 113, as a limited liability company; PIL is its only shareholder. Cypyard will conclude negotiations for an operations and management agreement covering ports in Hellenic Cyprus, including the Port of Limassol, directly with the Cyprus Ports Authority (www.cpa.gov.cy); Petrogress(PGAS) has withdrawn from its MOU with F&T Shipyards announced in June 2017.
Current plans include a long-term lease with renewal options covering all in-place port facilities, including floating dock and dry dock areas, with cranes and scaffolding, construction and repair workshops and storage, and complete on-site administrative and office space. Cypyard will negotiate and pay-off debt from a previous operator and agree to cover the costs of deferred maintenance and repairs along with designated improvements in exchange for lease rate concessions.
Per President Christos P. Traios, “We can make a better deal directly with the CPA for the facilities at Limassol. The facilities are in fairly good shape and won’t take much time or money to put right. In addition, we can add other port services agreements along the coast in Hellenic Cyprus if and when offshore services require. I think the opportunities there are great, and dealing directly with partners in government has numerous benefits.”
9/26/2017 Petrogress, Inc. Acquires Interest in SPV and Commences US Oil and Gas Operations Company to Consolidate Business and Accounting Operations for African Operations and Commence US E&P
https://www.otcmarkets.com/stock/PGAS/news
NEW YORK, Sept. 26, 2017 (GLOBE NEWSWIRE) -- Petrogress, Inc. (OTCMkts
GAS) announced today that it has acquired 100% of the Membership Units of Petrogress Int’l, LLC, a Delaware limited liability company (“PIL”). PIL was formed in early 2017 by Chairman Christos P. Traios as a Special Purpose Vehicle to allow pursuit of speculative business opportunities in Africa and elsewhere independent of Petrogress, Inc.; several of these business opportunities now appear sufficiently developed and imminent, such that it is now appropriate to consolidate PIL’s business into Petrogress, Inc. PIL will operate as a wholly-owned subsidiary of Petrogress, Inc. to conduct, among other things, oil trading and related energy activities in Cyprus, Nigeria and Ghana. Petrogress, Inc. paid Mr. Traios $1.00 for the Units. Its business and accounting operations will be consolidated into Petrogress, Inc.’s effective immediately, and be reported in its financial disclosures commencing with the 3Q Form 10-Q.
Mr. Traios stated, “I’ve done business in Africa for many years, and have learned it is necessary to exercise great care in any new venture and in dealing with new partners, including with respect to proper relations with governments and government officials. We’ve been presented with great opportunities in Africa, including further development of existing business in Nigeria and Ghana, and, potentially, Libya, along with new business in Cyprus. Although we understand the importance of, and remain committed to, complete transparency in our dealings with shareholders in the public markets, the use of Special Purpose Vehicles serves many important purposes in this arena.”
With respect to E&P operations in the US, Petrogress has entered into a comprehensive consulting agreement with Texas oilman Charles Stidham to identify oil and gas prospects in New Mexico, Texas and Louisiana, and to assist in negotiations to acquire integrated oil and gas companies with pipeline access to the Chenier LNG facilities at Sabine Pass in Port Arthur, Texas. Mr. Stidham will work directly with Petrogress Oil and Gas, Inc., a wholly owned subsidiary of Petrogress, Inc. Mr. Stidham has over 30 years of experience providing investment banking and other financing services to oil and gas service and E&P companies, and has also developed and operated oil and gas properties in West and East Texas.
Mr. Stidham added, “Christos and I have been looking for the right deal to work on together for over 20 years. I think we’re both contrarians of sorts, and I believe the current down market has created some very attractive E&P investments in Texas and surrounding areas, whether as an operator or otherwise, especially now that domestic producers are at liberty to export oil and gas to higher priced and politically sensitive foreign markets. Petrogress, Inc.’s access to European energy markets provides some great integration prospects for direct US E&P investments.”
About the Company:
On track for $25 - $30 MILLION in revenues in 2017
Revenues are now estimated to exceed $122 million for 2017 – 2020
Set to have 4 straight quarters of EXPONENTIAL revenue growth
Over $10 MILLION in assets
NO convertible DEBT
Insiders own 85% of the shares, they are NOT selling, it's hard to get shares.
Amazing Quarterly Results 11/20/2017
https://ih.advfn.com/p.php?pid=nmona&article=76134220
- Total assets are up 2.5MM vs Q2
- Cost of goods have decreased from 66% to 45% making 2017 YTD more profitable
- YTD gross profit is 6.2MM vs 5.5MM in all of 2016(YTD gross profit has already exceeded all of 2016 and and still have a quarter to go)
- 2017 YTD Net profit of the business is 1.5MM YTD vs 233K in all of 2016
- Net Income per share YTD is .009 and based on progress of the company end of year should exceed 1 cent per share.
Excellent SS:
Authorized Shares 490,000,000 a/o 11/20/2017
Outstanding Shares 177,995,907 a/o 10/20/2017
http://ih.advfn.com/p.php?pid=nmona&artic...ymbol=PGAS
Christos P. Traios, President, CEO and Chairman, owns 135,000,000 shares of stock, comprising approximately 75% of the Company’s issued and outstanding shares of common stock.
https://ih.advfn.com/p.php?pid=nmona&article=75928512
11/08/2017 Petrogress, Inc. Forms Cypriot SPV to Operate Limassol Port FacilityPetrogress Int’l LLC will deal directly with the Cyprus Ports Authority on Hellenic Cyprus ports
https://finance.yahoo.com/news/petrogress-inc-forms -cypriot-spv-130000033.html
NEW YORK, Nov. 08, 2017 (GLOBE NEWSWIRE) -- Petrogress, Inc.(PGAS) announced today that it has formed “PG Cypyard & Offshore Service Terminal Ltd. (“Cypyard”) (Org. No. 529036) through Petrogress Int’l, LLC, its wholly owned subsidiary. Cypyard was formed under the Cyprus Companies Law, Cap. 113, as a limited liability company; PIL is its only shareholder. Cypyard will conclude negotiations for an operations and management agreement covering ports in Hellenic Cyprus, including the Port of Limassol, directly with the Cyprus Ports Authority (www.cpa.gov.cy); Petrogress(PGAS) has withdrawn from its MOU with F&T Shipyards announced in June 2017.
Current plans include a long-term lease with renewal options covering all in-place port facilities, including floating dock and dry dock areas, with cranes and scaffolding, construction and repair workshops and storage, and complete on-site administrative and office space. Cypyard will negotiate and pay-off debt from a previous operator and agree to cover the costs of deferred maintenance and repairs along with designated improvements in exchange for lease rate concessions.
Per President Christos P. Traios, “We can make a better deal directly with the CPA for the facilities at Limassol. The facilities are in fairly good shape and won’t take much time or money to put right. In addition, we can add other port services agreements along the coast in Hellenic Cyprus if and when offshore services require. I think the opportunities there are great, and dealing directly with partners in government has numerous benefits.”
9/26/2017 Petrogress, Inc. Acquires Interest in SPV and Commences US Oil and Gas Operations Company to Consolidate Business and Accounting Operations for African Operations and Commence US E&P
https://www.otcmarkets.com/stock/PGAS/news
NEW YORK, Sept. 26, 2017 (GLOBE NEWSWIRE) -- Petrogress, Inc. (OTCMkts
GAS) announced today that it has acquired 100% of the Membership Units of Petrogress Int’l, LLC, a Delaware limited liability company (“PIL”). PIL was formed in early 2017 by Chairman Christos P. Traios as a Special Purpose Vehicle to allow pursuit of speculative business opportunities in Africa and elsewhere independent of Petrogress, Inc.; several of these business opportunities now appear sufficiently developed and imminent, such that it is now appropriate to consolidate PIL’s business into Petrogress, Inc. PIL will operate as a wholly-owned subsidiary of Petrogress, Inc. to conduct, among other things, oil trading and related energy activities in Cyprus, Nigeria and Ghana. Petrogress, Inc. paid Mr. Traios $1.00 for the Units. Its business and accounting operations will be consolidated into Petrogress, Inc.’s effective immediately, and be reported in its financial disclosures commencing with the 3Q Form 10-Q. Mr. Traios stated, “I’ve done business in Africa for many years, and have learned it is necessary to exercise great care in any new venture and in dealing with new partners, including with respect to proper relations with governments and government officials. We’ve been presented with great opportunities in Africa, including further development of existing business in Nigeria and Ghana, and, potentially, Libya, along with new business in Cyprus. Although we understand the importance of, and remain committed to, complete transparency in our dealings with shareholders in the public markets, the use of Special Purpose Vehicles serves many important purposes in this arena.”
With respect to E&P operations in the US, Petrogress has entered into a comprehensive consulting agreement with Texas oilman Charles Stidham to identify oil and gas prospects in New Mexico, Texas and Louisiana, and to assist in negotiations to acquire integrated oil and gas companies with pipeline access to the Chenier LNG facilities at Sabine Pass in Port Arthur, Texas. Mr. Stidham will work directly with Petrogress Oil and Gas, Inc., a wholly owned subsidiary of Petrogress, Inc. Mr. Stidham has over 30 years of experience providing investment banking and other financing services to oil and gas service and E&P companies, and has also developed and operated oil and gas properties in West and East Texas.
Mr. Stidham added, “Christos and I have been looking for the right deal to work on together for over 20 years. I think we’re both contrarians of sorts, and I believe the current down market has created some very attractive E&P investments in Texas and surrounding areas, whether as an operator or otherwise, especially now that domestic producers are at liberty to export oil and gas to higher priced and politically sensitive foreign markets. Petrogress, Inc.’s access to European energy markets provides some great integration prospects for direct US E&P investments.”
About the Company:
On track for $25 - $30 MILLION in revenues in 2017
Revenues are now estimated to exceed $122 million for 2017 – 2020
Set to have 4 straight quarters of EXPONENTIAL revenue growth
Over $10 MILLION in assets
NO convertible DEBT
Insiders own 85% of the shares, they are NOT selling, it's hard to get shares.
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