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During the six months ended June 30, 2017, the Company received $1,305,000 of investment capital. Investment capital was utilized for the review of prospect acquisition targets in the upstream, midstream and oil services sectors, for ongoing operations and debt service reduction. In addition, this capital has aided in the resolution of effectively all outstanding company litigation matters.
During the three months ended June 30, 2017, general and administrative expenses decreased by 18% compared to the second quarter of 2016.
At June 30, 2017, the Company held a working interest in 30 gross wells located in the states of Texas and New Mexico.
The following information was filed by Victory Oilfield Tech, Inc. (VYEY) on Friday, August 11, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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