Imperial Petroleum Inc (PINK:IPMN), today announced that the company’s PBT for the F.Y year 2011 ending on 31st July 2011 amounted to $6.4 million on total revenue of $109.9 million and sales of 26.4 million gallons of transportation biodiesel. The company’s PBT represented $0.226 per share on a fully diluted basis.
Jeffrey T. Wilson, Company’s President stated that the company proposes to use the funds raised from its private placement, for the expansion of its biodiesel operations at Middletown by 30% and also for completing the installation of its oil sands unit.
The company has settled-up all the major judicial proceeding and vendor issues faced during the 4th quarter and is now working diligently to pay off or refinance its bank debt.
Imperial Petroleum Inc. is an energy company headquartered in Evansville, Indiana.
Shares of IPMN jumped 12.94% to $0.96.
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