Coil Tubing Technology Inc (CE) (CTBG) News

anyone still here?

The company should file a Form 15 to deregister from the SEC and would no longer be obligated to file Financials. CTBG would thereafter trade on the OTC as an alternative reporting company and would no longer be at risk of an SEC Suspension for delinquent Financials.

The SEC has been on a rampage during 2017, suspending 139 SEC Registered stocks for delinquent Financials whereby each stock has had, or will have their stock registrations revoked....thus the compelling reason for my alert post yesterday.

Contact the company and encourage them to deregister ASAP.

Yes, well if you read the last filing they made you would see that:

The registrant, Coil Tubing Technology, Inc., is referred to herein as “we” or “our”.

Due to a lack of financial resources, we will be unable to continue to file the required annual and quarterly filings, including but not limited to, our annual Form 10-K for the year ended December 31, 2015 and subsequent Form 10Q’s for the quarterly reporting periods commencing March 31, 2016.

CTBG is severely delinquent in filing the company's Financials. The stock is at risk of an SEC Suspension and subsequent stock registration revocation.

https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001084463&owner=exclude&count=40&hidefilings=0

Agreed, with oil at its current price I don't see much happening here until oil stabilizes.

My guess is yes. Their tools are aimed at the drilling and facking market and they are way off until oil heads north.

The trouble Saudi Arabia is having could force them to stop over producing.

B2B

Is this dead until oil rebounds?

LOVE IT !

"What have you been working on ? "

My yard. I find it more productive and satisfying than playing the rigged Market.

B2B

hello B2B , good to see you are still are working DD here on the boards. It is great tool if you know how to use it .. I am looking into few companies Id like know more about .. One being LFVN lifevantage .. recently served delisting notice Nasdaq share price < $1 ,,, I am familiar with Darren Jensen new CEO from Winter Park FL ... he has track record of MONEY he makes money with these direct sales type MLM companies that I truly am not into in the least bit .. but I know Darren thru a friend have worked on some print mail with one of his ventures .. ..wondering if they are going do something positive prop it up ... but mainly looking for some small micro have some cash willing risk completely for high rewards .. Interested in turn around possibilities , biotechs , manufacturing of a new needed product ... anything small with a good story that can be verified ... What have you been working on ?

Hi Print. It's been a long time.

B2B

I smell the stench of NOTHING here team

more good numbers

It's good to see the upswing. It was starting to look like the CT biz had passed CTBG.

B2B

Wow nice job guys. Good to see growth.

That 3 share manip was as pathetic a manip as I've seen.

B2B

THEY ARE! You're not. :)

you watching a different stock?

CTBG is getting attention and momentum

CTBG is getting attention and momentum

It makes no sense to me that retail SH would be selling at ~ 13 times below the ask. If a retail guy wanted out, I'd think they would lower their ask until they found a buyer.

A while back, Swinford Jr was authorized to look for a buyer. I wonder if a potential buyer is taking it down. near a dime, to weken Sinford's bargaining position.

And it could be Swinford maniping back to near $2.00

B2B

YEA!!! At last a pumper!!!

rex, you just let him be! Just hush!

B2B

Used to think so myself...Now I thinks it smells like chit.

RR

CTBG is smells like a winner

I am starting to buy some silver and a little bit of gold, any of your thoughts on that?

If I did , I better start using them !!!
LOL

"I guess I should have sold it at 8.50 "

PC, you're an investing genius! Do you have any more tips? LOL.

B2B

I guess I should have sold it at 8.50

I thought they were making money???

http://finance.yahoo.com/q/is?s=ctbg

Another ://www.businessweek.com/news/2013-08-18/shale-grab-in-u-dot-s-dot-stalls-as-falling-values-repel-buyers-energy

Pros & Cons & the Cline Shale

http://blogs.reuters.com/great-debate/2013/08/18/the-case-against-natural-gas-exports/

http://www.nytimes.com/2013/08/16/business/energy-environment/foreseeing-trouble-in-exporting-natural-gas.html?pagewanted=all&_r=


http://www.oaoa.com/news/business/article_92bd1aba-feed-11e2-b0ab-0019bb30f31a.html


http://www.oaoa.com/article_fb054bbe-f70f-11e2-a05a-0019bb30f31a.html


http://www.oaoa.com/news/business/ray_perryman_column/article_81d0da12-c01c-11e2-8ba1-001a4bcf6878.html


http://www.oaoa.com/news/business/article_d9067cea-f70f-11e2-ba5c-0019bb30f31a.html


http://www.oaoa.com/search/?t=article&d1=1+year+ago&q=cline+SHAle

Came out recently...Will also post some links to Cline Shale later. Gonna be a biggie.

http://www.star-telegram.com/2013/08/15/5082034/marcellus-gas-production-rising.html

Could not agree more.

I'm not keyed into the drilling biz. I hadn't heard of a downturn, but I'm not surprised. I know that NG prices have dropped steeply.

The Liberal, anti fracking , loons that run New York have completely missed the Marcellous Shale boom. It's cost them billions. Too bad for the people. Maybe Americans will someday learn that elections have consequence.

B2B

It think they have been hit by the down turn in gas drilling.

imo
it was all a scam from the getgo
and that's from my personal experience which included Swinford and his drama

which is why I gave up on up on CTBG a long time ago

rr, thanks for posting that. Looks like a dismal report. Are those of you with oil biz connections aware that drilling and workoverare off enough for GTBG to bwe experiencing such a slow down in business?

B2B

http://biz.yahoo.com/e/130813/ctbg10-q.html

I am thinking Bert want out and this is a set up for making that happen. The problem is the 1Q earnings and outlook was not good. Don't understand in this environment how that could be. Something is missing?

I never make guesses about the PPS of any stock. I usually give myself a target sell. Things are too nebulous with CTBG right now. The 2 Q is due out soon.

I don't like it at all that the last Q was so bad. The industry is using coil tubing more than ever. I hope the technology hasn't passed them by.

B2B

How much per share do you think they will get?

Thanks for bringing the 8K to our attention. It does look like CTBG may be setting up for a sale.

http://ih.advfn.com/p.php?pid=nmona&article=58687540

B2B

They have the 8k on here. But basically it gives Jason Swinford additional payouts for selling the company.

I haven't seen a recent 8K. Whazup?

.10 Yuck! That's been the bid for a while

B2B

Watch out! I could be wrong but it looks like someone is trying to accumulate and based on the 8K maybe for a good reason.

I guess Bert stopped buying , cause the stock price tanked

You seem surprised the execs would be taken care of first? :)

Not a good report. I wasn't aware of a downturn in the indudtry.

The increase in general and administrative expenses was primarily due to the increase in compensation expense of $113,000 for the extending the life of the stock options for key management personnel.

We had total selling and marketing expenses of approximately $473,000 for the three months ended March 31, 2013, compared to $519,000 for the three months ended March 31, 2012, a decrease of $46,000 or 9% from the prior period, which decrease was mainly due to decreases in sales commissions, automobile expenses and travel

Even though sales are down and they are nw operating inthe red, they managed to take care of the execs. And they are spending less on sales commissions and travel expences.

The trend is not our friend.

B2B

Coil Tubing Technology Announces 2013 1st Quarter Results
Today : Tuesday 14 May 2013
Coil Tubing Technology, Inc. (OTCQB: CTBG), a leading provider of enterprise-class coil tubing products and services, announced that the Company has filed its Form 10-Q with the Securities and Exchange Commission reporting results for the 1st quarter 2013.

The Company's financial condition and results of operation are as follows:

We had total revenues of approximately $1,804,000 for the three months ended March 31, 2013, compared to total revenues of $2,265,000 for the three months ended March 31, 2012, a decrease in total revenues of $461,000 or 21% from the prior period. Total revenues included $1,760,000 of rental revenue for the three months ended March 31, 2013, compared to $2,215,000 for the three months ended March 31, 2012, a decrease in rental revenue of $455,000 or 20% from the prior period. The decrease in rental revenue was mainly due to a decrease in customer demand. We anticipate that the demand for our rental tools will be less for the next quarter based on current oil and gas drilling data in our service areas and an increase in competitive pricing to maintain our market share.

We had gross profit of approximately $950,000 for the three months ended March 31, 2013, compared to gross profit of $1,389,000 for the three months ended March 31, 2012, a decrease in gross profit of $439,000 or 32% from the prior period. Our gross profit was 53% of revenue for the three months ended March 31, 2013, compared to 61% for the three months ended March 31, 2012.

We had total general and administrative expenses of approximately $564,000 for the three months ended March 31, 2013, compared to total general and administrative expenses of $443,000 for the three months ended March 31, 2012, an increase in general and administrative expenses of $121,000 or 27% from the prior period. The increase in general and administrative expenses was primarily due to the increase in compensation expense of $113,000 for the extending the life of the stock options for key management personnel.

We had total selling and marketing expenses of approximately $473,000 for the three months ended March 31, 2013, compared to $519,000 for the three months ended March 31, 2012, a decrease of $46,000 or 9% from the prior period, which decrease was mainly due to decreases in sales commissions, automobile expenses and travel.

We had a net loss of approximately $66,000 for the three months ended March 31, 2013, compared to net income of $423,000 for the three months ended March 31, 2012, a decrease in net income of $489,000 or 116% from the prior period. The decrease in net income was attributable to a decrease in total revenue and an increase in operating expenses, principally a $113,000 increase in stock option expense, for the three months ended March 31, 2013, compared to the three months ended March 31, 2012.

As of March 31, 2013, we had total assets of approximately $8,454,000, which included total current assets of $3,365,000, consisting of $1,142,000 of cash, $2,157,000 of accounts receivable, net, and $66,000 of other current assets; and long term assets including $3,541,000 of rental tools, net; $535,000 of property and equipment, net; and $1,013,000 of intangible assets, net, consisting of our rights to the patents.

We had total liabilities of approximately $1,202,000 as of March 31, 2013, which included total current liabilities of $820,000, consisting of accounts payable of $485,000; accrued liabilities of $128,000; current portion of notes payable of $207,000; and long term liabilities consisting of $207,000.

We had net cash provided by operating activities of approximately $101,000 for the three months ended March 31, 2013, which consisted of non-cash items including $335,000 of depreciation and amortization, $113,000 of stock based compensation, and $18,000 gain on sale of equipment; offset by $66,000 of net loss, $388,000 of increase in accounts receivable, $8,000 of increase in other current assets, $78,000 of increase in accounts payable and $55,000 of increase in accrued liabilities.

We had $94,000 of net cash used in investing activities for the three months ended March 31, 2013, which included the purchase of $102,000 of rental tools and $50,000 of property and equipment; offset by $58,000 in proceeds from the sale of lost tools. Our principal recurring investing activity was the funding of capital expenditures to ensure that we have the appropriate levels and types of equipment in place to generate revenue from operations.

We had $18,000 of net cash used in financing activities for the three months ended March 31, 2013, which included $21,000 of proceeds from notes payable offset by $39,000 of payments on related party notes payable.

Mr. Jason Swinford, CEO of Coil Tubing Technology, Inc., commented, "During 1st quarter 2013, we experienced a downturn in the rental of our patented coil tubing products in the oil and gas sectors which in turn negatively impacted the Company’s overall results. We have adjusted our personnel and related expenses to better match our projected revenue stream as we anticipate that sales for our products will remain the same for the 2nd quarter of 2013 with upward movement in the 3rd quarter of 2013.”

Primary and fully-diluted net income per share for the 1st quarter ended March 31, 2013 was $.004. Primary and fully-diluted net income per share for the 1st quarter ended March 31, 2012, was $.03 and $.02, respectively.

Mr. Jerry Swinford, Chairman of Coil Tubing Technology, Inc., commented, "Our immediate plans are to continue our growth by meeting expected demand for our rental tool products in our current geographic markets and further expanding into international markets similar to what we accomplished in Canada during 2012. We anticipate entering markets in Mexico, the Middle East and Southeast Asia in 2013 and 2014. This approach to diversifying in new sales areas will improve our customer visibility and financial results.”

About Coil Tubing Technology, Inc.

Coil Tubing Technology, Inc. is a fully reporting public corporation located in Spring, Texas, and is the parent company of Coil Tubing Technology Holdings, Inc., a Nevada corporation, which in turn has three wholly-owned subsidiaries, Total Downhole Solutions, Inc. (“TDS”) and Coil Tubing Technology, Inc. (“CTT Texas”), both Texas corporations and Coil Tubing Technology Canada Inc., an Alberta, Canada corporation (“CTT Canada”). The Company specializes in providing coil tubing products and service solutions to oil and gas clients on a regional, national and international basis. Its principals have been in the tool rental business for more than 40 years. For more information, please visit our website at www.coiltubingtechnology.com or call 281-651-0200.


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