Energtek, Inc. (EGTK.PK) develops advanced naturals gas storage and transportation technologies, and supplies products to create energy provision solutions to the motor vehicle and industrial markets. Its products include gas storage tanks, vehicle conversion systems, filling stations, and bulk transportation equipment. Here are some facts about the company and its performance:
- Fiscal year of EGTK ends on December 31st, though there are still no 10-K and 10-Q filings from 2008.
- The latest 10-Q filing is of September 30th but it is unaudited – inaccurate as to the company’s real financial position.
- After counting the earnings per share ratio, it is seen that the company’s performance is getting worse: from -$0.01 in March it fell to -$0.12 in September.
- Although the latest balance sheet indicates that the company is able to pay the debts, operating loss has increased 7 times in one quarter.
- The stock went slightly up after the trade yesterday. The volume seems to have enlarged in May.
- The company engages in stock promotions: QualityStocks will get $12,500 per month for the company coverage, while Wall Street Grand was paid $20,000 for a one month promotion which began on 20th April 2009.
From the facts about the company and its performance, the following conclusion can be made: Energtek isn’t attractive to investors due to its financial position, as well as the inability to file annual and latest quarter results.