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Edgar Filing: TIDELANDS OIL & GAS CORP/WA - Form 10-K - page 10 / 83

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Edgar Filing: TIDELANDS OIL & GAS CORP/WA - Form 10-K successfully. Although the Company currently has specific plans and arrangements

  • -

    8-

for

financing

its

working

Company's

activities.

It

may

capital

is

be

necessary

presently

to

raise

insuf addit

equity or Company's

debt financings. Any equity financings

then-existing

stockholders.

Sources

higher

interest

expense.

Any

financing,

if

could resu of debt fi available,

ficient to fund the ional funds through lt in dilution to our nancing may result in

may

be

on

terms

unfavorable be required

to to

the Company. If adequate funds

reduce

or

curtail

operations.

are not obtai The Company

ned,

the

Company

may

anticipates that its

existing

capital

resources,

together

with

the

net

procee

ds

of

this

Offering,

will

be

adequate

to

satisfy

its

at least 6 months after the date prove to be inaccurate.

operating

expenses

and

capi

of this Prospectus. Howeve

tal requirements r, such estimates

for may

SUBSTANTIAL CAPITAL REQUIREMENTS

We may make substantial

capital

and production

of natural gas

facilities. We

believe that the

operating

activities

and

equity

expenditures for the

pipeline,

processing

deve sys

Company will

have

suffici

financing to

fund

planned

in the near future. If revenues or the Company's equity fin

lopment,

acquisition

tems ent

and, or storage cash provided by

capital

expenditures

ancing

decrease as a

result of lower natural gas

limited

ability

to

expend

prices, operating difficulties,

the

capital

necessary

to

un

the Company

may have

dertake

or

complete

proposed plans and opportunities. There

or equity

financing

or

cash

generated

can be no assurance

by

operations

will

that additional

debt

be available to

meet

these

requirements.

WE CAN GIVE NO ASSURANCE REGARDING THE AMOUNTS OF CASH THAT

WE WILL GENERATE.

depend up

on numerous factors

control, i

ncluding:

The actual relating to

amounts of cash we

generate

will

our

business

which

may

be

beyond

our

  • o

    the demand for natural gas;

    • o

      profitability of operations;

    • o

      required principal and interest payments on any debt we may incur;

    • o

      the cost of acquisitions;

    • o

      our issuance of equity securities;

    • o

      fluctuations in working capital;

    • o

      capital expenditures;

    • o

      continued development of gas transportation network systems;

    • o

      prevailing economic conditions;

    • o

      government regulations.

WE DO NOT EXPECT TO PAY DIVIDENDS FOR S

OME TIME, IF AT ALL.

No cash dividends have been paid on the

received from do not expect

operations will be devote

to

pay

cash

dividends

i

Common Stock. We expect that any income d to our future operations and growth. We

n the near

future.

Payment of dividends

would depend dividends, and

upon our profitability other factors.

at the time,

cash

available

for those

COMPETITION

Our Company

will be competing

with ot

similar

products.

Many

of

these

compa

her established businesses nies have greater capital,

that market marketing and

other

resources

than

we

do.

There

c

companies acceptance

will not develop

than

any

that

new may

or be

enha mar

assurance

that

competitors

or

Company will

suc

the market will

c

our that

an be

no assurance

nced

products that

that have

these or other

greater

market

keted by cessfully

the Company. differentiate

There

itself

can be no

from

its

onsider

our

products

to

be

superior

or

to

10

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