FLOTEK INDUSTRIES - FINANCIAL RESULTS FOR THE QUARTER ENDED MAY 31, 1995.VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 10, 1995-- Flotek Industries Inc. (VSE See DOS/VSE. VSE - Virtual Storage Extended :FTK FTK Forensic Toolkit FTK Full Tune-Up Kit FTK Flametongue Kavu (gaming) FTK Freight Ton Kilometer (airline industry) FTK Full Time Killers (gaming clan) ), today announced its financial results for the quarter ended May 31, 1995. Revenues were $826,777 (Cdn) compared to $664,745 (Cdn) for fiscal 1994. The loss for the period was $1,084,155 or $0.07 per share, based upon a weighted average number of shares outstanding during the period of 14,903,379, compared to $799,875 or $0.08 per share for 1994. Approximately $370,000 of the loss for the period relates to expenses for the Vancouver office prior to its closure. The Vancouver office was closed effective May 17, 1995 with the administrative responsibilities being transferred to our existing facility in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the . The majority of the $370,000 will be non-recurring. The Company has entered into an agreement to sell its interest in Canadian Agtechnology Partners Inc. ("CAP") for $84,307 (Cdn). As part of the transaction Flotek will be acquiring the water technology rights previously conveyed to CAP in return for approximately $475,000 (Cdn). The payment for the technology will be offset against a receivable due from CAP. The Company had written down its investment in CAP to a nominal value Nominal Value The stated value of an issued security that remains fixed, as opposed to its market value, which fluctuates. Notes: When referring to fixed-income securities, the nominal value is also the face value. at the year ending February 28, 1995. This transaction is subject to regulatory approval. Flotek is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. in the international oilfield service industry, involved in the manufacturing and marketing of its proprietary technology, the Petrovalve Plus valve system. This technology, which embodies the first major change in the design and function of the valves used in 85 per cent of the world's pumping oil wells, is currently being sold in Canada, the USA and South America. -0- NOTE: The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. CONTACT: Flotek Industries Inc., 800/225-7974 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion