On Wednesday August 17, 2011, XTREME OIL & GAS INC (OTC:XTOG), an emerging independent energy company primarily concerned with the development and production of crude oil and natural gas, based in Dallas, announced the updation and completion of a third party private valuation entitling the company to be worth of $102,520,900 or $2.24 per share today, as a result of its success over the last 18 months in filling with the Securities & Exchange Commission a Form 10 and a S-1 Registration Statement, a 15C-211 with FINRA through Spartan Securities , three years of Audited Financials, thereby establishing itself as a fully reporting company .
The valuation for the company was carried out with the implementation of several accounting methods like discounted cash flow, price to earnings based on market comparable data, and book value, resulting in the determination of the fair value of the company.
In the words of Willard G. McAndrew III, CEO of Xtreme,the company is reaching closer to a momentous oil production and saltwater disposal, thereby increasing returns to the shareholders with the execution of their business model in a significant and reliable manner,launching projects online,expanding the assets of the company,increasing reserves as well as having several projects on the verge of completion.
Shares of XTOG fell 5% to $0.38 in today’s session after soaring 0.195 (95.12%) in yesterday’s session on better than the average volume. The stock has a 52-week range of $0.12-$2.05. It has a market capitalization of $18.37 million.
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