QOIL Quest Oil Corp. featured news, full reports, and detailed charts
Quest Oil Corp. (QOIL/QOIL.PK) Wrap Up:
Quest Oil Corporation, an independent oil and gas company, engages in acquiring and participating in exploration stage oil and gas properties worldwide. The company owns or holds interests in the Acadia North and Empress properties in Alberta, Canada; and the Hawkeye, Nettie Gardner, and Midkiff lease properties in Eastland and McCulloch counties of central Texas, and the Odom-Martin Ranch No. 1 well in Parker County of Texas in the United States. Quest Oil Corporation was incorporated in January 1999 as Luna Technologies, Inc. and changed its name to Luna Medical Technologies, Inc. in May 1999. Further, it changed its name to Lanwerx Entertainment, Inc. in May 2003; to GameState Entertainme...Quest Oil Corp. (QOIL:OTC)
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Market Cap
925.1K
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Total Revenue
18.6K
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EBITDA
516.6K
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DILUTED EPS TTM
-0.02
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P/E
--
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P/S
49.5x
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Return On Asset
--
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Return On Equity
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QOIL Top Compensated Officers
Executives, Board Directors
Key developments for Quest Oil Corp. (QOIL)
Quest Oil Corp. reported unaudited consolidated earnings results for the year ended March 31, 2009. For the year, the company reported net loss of $1,243,520 or $0.11 per diluted common share on total revenues of $18,557 compared to net loss of $8,420,376 or $0.02 per diluted common share on total revenues of $24,227 for the same period of last year. Loss from operations was $1,237,396 compared to $8,377,440 for the same period of last year. Loss before income taxes was $1,243,520 compared to $8,420,376 for the same period of last year. Net cash used in operating activities were $37,628 compared to $132,084 for the same period of last year. On May 14, 2009, the Board of Directors of the company appointed Ford Sinclair as President and director of the company. On May 15, 2009, James B. Panther, II resigned from his position as interim Chief Executive Officer and director of the company. On May 15, 2009, Mark L. Baum, Esq., resigned from his position as General Counsel of the company and its subsidiaries.
Quest Oil Corporation has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended.
On November 14, 2006, Quest Oil Corp. failed to timely file its Form 10-QSB for the period ending September 30, 2006 (the Form 10-QSB) as required by the Act with the SEC. The firm was unable to file the Form 10-QSB because it needed additional time to complete its report and its auditors needed additional time to review the Company’s financial statements. On November 14, 2006, it filed an NT 10-Q on Form 12b-25 with the SEC, requesting an extension to file the Form 10-QSB. On November 11, 2006, it received a delinquency notification from the National Association of Securities Dealers (NASD) regarding our failure to file the Form 10-QSB. Pursuant to the letter, we were allowed a grace period under NASD Rule 6530 which to file the report. Quest Oil Corp. was unable to file the Form 10-QSB within this grace period and on December 20, 2006, it filed for a hearing request with the NASD to appeal the NASD staff’s determination of delinquency. Such appeal was subsequently denied by NASD and the firm ceased quotation on the Over-The-Counter-Bulletin-Board on January 22, 2007. It continued to use its best efforts to maintain its status as a reporting company under the Act by voluntarily filing our Form 10-QSB for the period ending September 30, 2007 on January 24, 2007 and its Form 10-QSB for the period ending December 31, 2007 on February 20, 2007. However, due to a lack of financial resources available to create such reports and audit its financial statements going forward, the firm ceased filing its quarterly and annual reports under the Act as of February 27, 2007.
QOIL Competitors
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Industry Analysis
| Valuation | QOIL | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 49.5x |
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| Price/Book | 0.2x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | 14.6x |
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QOIL transactions
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More Recent News About Quest Oil Corp.
More news for QOIL
QUEST OIL CORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Bankruptcy or Receivership, Notice of
Item 1.01 Entry Into a Material Definitive Agreement. On January 11, 2007, we received the resignation of Mr. Joseph F. Wallen ("Wallen"), our former Chief Financial Officer and Operations Director, resigning all position in Quest Oil Corporation effective January 15, 2007. As of January 15, 2007, Wallen no longer held any employment position in Quest Oil Corporation. In a subsequent telephone conversation with Wallen on February 19, 2007, we became aware of Wallen's, intention to interfere with contractual relationships between us and certain oil and gas lease holders in Texas (the "Texas Lease Holders"). Wallen informed us that he was in the process of negotiating agreements with the Texas Lease Holders whereby the leases would be transferred from our name into the possession of B&B Oil Company, an entity beneficially owned and controlled by Wallen. We believe that not only do the Texas Lease Holders not have the legal right to transfer the leases, but that Wallen had intentionally and maliciously interfered with our contractual relationships with the Texas Lease Holders. We engaged the law firm of Heygood, Orr, Reyes & Bartolomei of Dallas, Texas to investigate the issue and take actions to protect the rights of our shareholders and lenders. On March 14, 2007, in the 216th Judicial District Court of Gillespie County, Texas, we were granted a court TRO against Wallen, B&B Oil, Inc. ("B&B"), and any and all persons working on their behalf or in their direction. The TRO required both Wallen and B&B desist and refrain from taking any action that interfered with our business relationships or contracts until the hearing of our application for a temporary injunction on March 23, 2007. Wallen and B&B contractually agreed to extend the TRO protection period. During this TRO extension period, we investigated our rights to, and the current state of, these Texas leases and the economic benefit they had historically and may in the future ...Click here to read the whole Article (external link)