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Sector: Energy | Industry: Oil & Gas Refining and Marketing |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 1, Akti Xaveriou Avenue PEIRAIAS 18538 |
Tel: | N/A |
Website: | https://petrogressinc.com |
IR: | See website |
Key People | ||
N/A |
Business Overview |
Petrogress, Inc., formerly 800 Commerce, Inc., is a holding company. The Company, along with its subsidiaries, is engaged in international trading and shipping business. The Company is engaged in exploring the potential for acquiring or purchasing or leasing newly built liquefied natural gas (LNG) vessels in the United States to be used for the supply and sea freight of the United States LNG exports. The Company's subsidiary, Petrogres Co. Ltd. (Petrogres), operates as an oil commodity company in West Africa. Its other subsidiaries are Petronav Carriers LLC (Petronav) and Petrogress Oil & Gas Energy Inc. (Petrogress Energy). Petronav focuses on primarily managing the day-to-day operation and handling of the tanker fleet it manages. Petrogress Energy is primarily focused on investigating the feasibility of acquiring oil fields in Texas so that the Company can expand its operations into the LNG market within the United States market. |
Financial Overview |
For the fiscal year ended 31 December 2021, Petrogress Inc revenues decreased 74% to $2.3M. Net loss increased 52% to $4.7M. Revenues reflect Revenues from freights & hires decrease of 98% to $85K, Revenues from crude oil sales decrease of 47% to $839K, Other Revenues decrease of 71% to $228K. Higher net loss reflects Other income / (expense), net increase from $114K to $1.6M (expense). |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $0.06M as of Dec 31, 2021 |
Annual revenue (TTM): | $2.28M as of Dec 31, 2021 |
EBITDA (TTM): | -$2.50M as of Dec 31, 2021 |
Net annual income (TTM): | -$4.68M as of Dec 31, 2021 |
Free cash flow (TTM): | $0.54M as of Dec 31, 2021 |
Net Debt Last Fiscal Year: | $0.05M as of Dec 31, 2021 |
Shares outstanding: | 36,142,658 as of Mar 20, 2022 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |