$PTCO
PetroGas Co

2021 Q3 Form 10-Q Financial Statement

#000164033421001787 Filed on August 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $105.0M $9.840K $7.960K
YoY Change 2333448.22% 23.62% -91.35%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $105.0M $9.835K $7.960K
YoY Change 0.0% 23.56% -91.35%
Operating Profit -$105.0M -$9.835K
YoY Change 0.0%
Interest Expense -$14.92K $12.88K -$30.39K
YoY Change -200.03% -142.37% 26.57%
% of Operating Profit
Other Income/Expense, Net $14.92K $12.88K
YoY Change 0.0%
Pretax Income -$105.0M -$22.71K -$38.35K
YoY Change 384042.57% -40.78% -66.91%
Income Tax
% Of Pretax Income
Net Earnings -$105.0M -$22.71K -$38.35K
YoY Change 384028.52% -40.78% -66.91%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$43.51M -$468.9K -$791.9K
COMMON SHARES
Basic Shares Outstanding 48.43K shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $0.00 $0.00 $0.00
Short-Term Investments
Other Short-Term Assets $0.00 $0.00
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $0.00 $0.00
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $0.00 $0.00
Total Long-Term Assets $0.00 $0.00
Total Assets $0.00 $0.00
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.52K $13.69K
YoY Change
Accrued Expenses $157.6K $142.7K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $320.00 $320.00
YoY Change
Long-Term Debt Due $227.7K $227.7K
YoY Change
Total Short-Term Liabilities $456.3K $431.7K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $42.68K $42.68K
YoY Change
Other Long-Term Liabilities $83.58K $83.58K
YoY Change
Total Long-Term Liabilities $126.3K $126.3K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $456.3K $431.7K
Total Long-Term Liabilities $126.3K $126.3K
Total Liabilities $582.5K $557.9K
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$107.1M -$2.030M
YoY Change
Common Stock $48.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$582.5K -$557.9K -$469.2K
YoY Change
Total Liabilities & Shareholders Equity $0.00 $0.00
YoY Change

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$105.0M -$22.71K -$38.35K
YoY Change 384028.52% -40.78% -66.91%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$8.830K -$12.25K -$10.00K
YoY Change 80.94% 22.5% 31.06%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 8.830K $12.25K $10.00K
YoY Change 80.94% 22.5% 38.12%
NET CHANGE
Cash From Operating Activities -8.830K -$12.25K -$10.00K
Cash From Investing Activities 0.000 $0.00 $0.00
Cash From Financing Activities 8.830K $12.25K $10.00K
Net Change In Cash 0.000 $0.00 $0.00
YoY Change -100.0%
FREE CASH FLOW
Cash From Operating Activities -$8.830K -$12.25K -$10.00K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CommonStockSharesIssued
48431 shares
CY2021Q1 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
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CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2020Q2 us-gaap Revenues
Revenues
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CY2021Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
48431 shares
CY2021Q2 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
0 USD
CY2021Q2 us-gaap Liabilities Current
LiabilitiesCurrent
431681 USD
CY2021Q2 us-gaap Asset Retirement Obligation
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CY2021Q2 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
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CY2021Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
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CY2021Q1 us-gaap Liabilities Noncurrent
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CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CY2021Q2 us-gaap Revenues
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CY2021Q2 us-gaap Interest Expense
InterestExpense
12876 USD
CY2021Q2 us-gaap Other Expenses
OtherExpenses
12876 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-22711 USD
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
-440826 USD
CY2020Q2 ptco Convertible Notes Debt Discount
ConvertibleNotesDebtDiscount
10000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
-469179 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-22711 USD
CY2021Q2 us-gaap Stockholders Equity
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CY2021Q2 us-gaap Net Income Loss
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-22711 USD
CY2020Q2 us-gaap Net Income Loss
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-38353 USD
CY2021Q2 us-gaap Amortization Of Debt Discount Premium
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0 USD
CY2020Q2 us-gaap Amortization Of Debt Discount Premium
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18568 USD
CY2021Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-2415 USD
CY2020Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2038 USD
CY2021Q2 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
12876 USD
CY2020Q2 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
11823 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-12250 USD
CY2020Q2 us-gaap Net Cash Provided By Used In Operating Activities
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-10000 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 USD
CY2020Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 USD
CY2021Q2 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
12250 USD
CY2020Q2 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0 USD
CY2021Q2 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
CY2020Q2 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
10000 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
12250 USD
CY2020Q2 us-gaap Net Cash Provided By Used In Financing Activities
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10000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
0 USD
CY2020Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
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0 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
0 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
0 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
0 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
0 USD
CY2021Q2 us-gaap Interest Paid Net
InterestPaidNet
0 USD
CY2020Q2 us-gaap Interest Paid Net
InterestPaidNet
0 USD
CY2021Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
CY2020Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q2 ptco Reverse Stock Split Description
ReverseStockSplitDescription
common stock on a basis of up to eighty (80) old shares for one (1) new share of common stock.
CY2021Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2030406 USD
CY2021Q2 us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These estimates are reviewed periodically, and, as adjustments become necessary, they are reported in earnings in the period in which they become known. The estimates on depreciation were based on the estimated useful lives of the Company’s assets. Any estimates during the period have had an immaterial effect on earnings.</p>
CY2021Q2 ptco Related Party Balances And Transactionspolicytextblock
RelatedPartyBalancesAndTransactionspolicytextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company follows FASB ASC 850, “<em>Related Party Disclosures</em>,” for the identification of related parties and disclosure of related party transaction. (See Note 9)</p>
CY2021Q2 ptco Convertible Notes Payable Shares
ConvertibleNotesPayableShares
22076778 shares
CY2020Q2 ptco Convertible Notes Payable Shares
ConvertibleNotesPayableShares
22076778 shares
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
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0.03 pure
CY2021Q2 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Term1
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedTerm1
P20Y
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.18 pure
CY2021Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
83580 USD
CY2021Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
47291 USD
CY2021Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
35041 USD

Files In Submission

Name View Source Status
0001640334-21-001787-index-headers.html Edgar Link pending
0001640334-21-001787-index.html Edgar Link pending
0001640334-21-001787.txt Edgar Link pending
0001640334-21-001787-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
ptco-20210630.xsd Edgar Link pending
ptco-20210630_cal.xml Edgar Link unprocessable
ptco-20210630_def.xml Edgar Link unprocessable
ptco-20210630_lab.xml Edgar Link unprocessable
ptco-20210630_pre.xml Edgar Link unprocessable
ptco_10q.htm Edgar Link pending
ptco_10q_htm.xml Edgar Link completed
ptco_ex311.htm Edgar Link pending
ptco_ex321.htm Edgar Link pending
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report.css Edgar Link pending
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