Mon, Jun 30, 8:40 PM (19 days ago)
**PetroGas Company (PTCO) - 10-K Summary** **Financial Performance:** - **Revenue:** No revenue recognized for fiscal years ended March 31, 2025 and 2024. - **Net Income:** $8,978 (2025) vs. $(90,588) (2024). - **Operating Expenses:** $24,692 (2025) vs. $38,040 (2024). - **Earnings per Share:** $0.00 (2025) vs. $(0.00) (2024). **Strategic Overview:** - Focus on acquiring and developing oil and gas leases, particularly in high-profile pay zones. - Strategy includes raising capital through private placements to acquire leases and commence drilling. **Future Outlook:** - Plans to acquire producing and non-producing leases to explore and drill in high-profile pay zones. - Expects to take advantage of an anticipated uptick in oil prices. **Risk Factors:** - High dependence on oil and gas exploration success. - Exposure to volatile oil prices and market conditions. - Competition from larger, well-established companies. - Regulatory, environmental, and operational risks. **Financial Condition:** - Negative working capital: $(790,250) (2025) vs. $(715,648) (2024). - Accumulated deficit: $(142,283,195) (2025). - Reliant on related party advances for financing. **Market Position Changes:** - Listed on OTC Pink Marketplace under symbol "PTCO". - Limited public market with wide price fluctuations. **Risk Factors (Continued):** - Going concern uncertainties due to lack of revenue and significant deficits. - Dependence on additional financing to continue operations. - Potential dilution from future equity issuances. **Note:** All amounts are in thousands, 000s.