Q4 2017 Press Release

11-Mar-2018

OKLAHOMA CITY, OK – March 7, 2018 - Texcom, Inc. (the "Company" or "Texcom"), an environmental services company serving the oil and gas industry, today announced financial results for the year ended December 31, 2017. Results for the year ended December 31, 2017 were as follows:

  • Revenues totaled $1,631,000.
  • Operating loss was $310,000.
  • Interest expense was $677,000.
  • EBITDA was $291,000.
  • Net loss was $1,056,000.
  • Loss per share was 9.17 cents.
  • Total liabilities were $8.7 million at December 31, 2017.
  • Total equity was negative $6.1 million on December 31, 2017.
  • “During 2017, we significantly reduced overhead and streamlined our operations” stated Bob May, CEO. “By the end of the year, monthly cash flow was sufficient to meet the regular interest on our bank debt. On January 31, 2018, our bank amended our loan agreement to extend the maturity of our debt until January 31, 2019. We are current on all of our loan obligations.”

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