Currently, LSI is priced at $0.40 with no change since late April. So, there is not much to be said about the shares’ performance simply because there is no such performance. According to data from Google, the stock was last traded on May 5, when the turnover was 56 shares.
At least, we can say a bit more about the company. There is a new development announced. Finally! Something is happening. It is far from thrilling, however. Lonestar has simply issued new financial results – for the quarter ended Mar 31, 2011. However, we can see it as a company news on the site of the TMX Group Exchanges. The release states that complete details on the financial statements can be found on SEDAR.
Today, on May 30, 2011 at 11.15h local Bulgarian time, the author looked at SEDAR and found only the previous financial reports filed on Feb. 28, 2011. This means that the readers should be cautious when analyzing the data in the fore-mentioned release that I will point out now. So far, they are still not filed on SEDAR.
The announcement says it all, and hardly further comment is needed: “The Company has generated revenues of $4.0 million in the three months ended March 31, 2011 compared to $1.4 million in the prior year quarter. The net income for the third quarter is $560,969, compared to a loss of $371,509 in the prior year quarter.”
These figures will be officially confirmed whey the reports are filed on SEDAR. Until then, we can simply outline the trend – Lonestar records rising revenue and a rising net income. I think, this is something that the company can really cheer about.
Lonestar is a supplier of oilfield services – hydro-vacuum services to the petroleum industry and vacuum truck services to oil and gas drilling companies.
