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Genoil Inc GNOLF

Genoil Inc. is technology-based company engaged in the development of technologies relating to the oil and gas industry. The Company specializes in heavy-to-light oil technology, oil field development and exploration and production. It is a provider of hydro conversion fixed-bed technology for the upstream and downstream oil and gas industry. It is also working with Chinese policy banks and Chinese companies to provide, project financing, drilling, production, and processing services to the oil and gas industry. Its technology consists of Genoil Hydroconversion Upgrader (GHU), which converts sour (high sulfur), heavy hydrocarbon feed stocks into lighter oil with higher quality distillates for conventional refining. The Company is also engaged in other technologies, such as oil upgrading and recycling, water purification port technologies, well testing, and sand cleaning. The Company markets its technology to customers in the Middle East, Russia and China.


OTCPK:GNOLF - Post by User

Post by UpPeriscopeon Jul 25, 2021 11:44am
142 Views
Post# 33601949

In event any shareholder is unaware or

In event any shareholder is unaware or

forgot: From the FORM 6-K, dated June 14,2021. 

These consolidated financial statements have been presented on a going concern basis. The Company reported a net loss of $323,761 for the three months ended March 31, 2021. The Company used funds in operating activities of $96,429 for the three months ended March 31, 2021. The Company had a net working capital deficiency of $2,358,978 on March 31, 2021. The Company had stockholders’ deficit of $7,027,578 on March 31, 2021. These factors indicate material uncertainties that cast substantial doubt about the Company’s ability to continue as a going concern.

The only true statement ever recited here. Numbers don't lie Mr. Weisselberg. 

25 years and hundreds-if not thousands-of hollow statements and irrelevant papers later, you've done well for shareholders Davey. 


 

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