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Last C$0.13 CAD
Change Today -0.005 / -3.85%
Volume 97.7K
WEE On Other Exchanges
Symbol
Exchange
Venture
As of 3:57 PM 05/26/15 All times are local (Market data is delayed by at least 15 minutes).

wavefront technology solutio (WEE) Snapshot

Open
C$0.13
Previous Close
C$0.13
Day High
C$0.14
Day Low
C$0.13
52 Week High
09/18/14 - C$0.24
52 Week Low
12/12/14 - C$0.06
Market Cap
10.4M
Average Volume 10 Days
72.3K
EPS TTM
C$-0.05
Shares Outstanding
83.0M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for WAVEFRONT TECHNOLOGY SOLUTIO (WEE)

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wavefront technology solutio (WEE) Details

Wavefront Technology Solutions Inc. designs, develops, and licenses technologies for oil well stimulation, secondary oil recovery, and environmental groundwater remediation in the United States and internationally. The company offers Powerwave process, an injection technology that improves the flow of fluids in geological materials, including sedimentary soils and fractured rock; and Primawave process, a method for aiding in-ground environmental groundwater remediation clean-up in contaminated sites. It also develops oil and gas properties, as well as rents tubing pumps and bailers for oil field applications. The company was formerly known as Wavefront Energy and Environmental Services Inc. and changed its name to Wavefront Technology Solutions Inc. in March 2009. Wavefront Technology Solutions is headquartered in Edmonton, Canada.

wavefront technology solutio (WEE) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$275.0K
Chief Financial Officer, Treasurer, Secretary...
Total Annual Compensation: C$200.0K
Compensation as of Fiscal Year 2014.

wavefront technology solutio (WEE) Key Developments

Wavefront Technology Solutions Inc. Reports Earnings Results for the Second Quarter Ended February 28, 2015; Reports Impairment Charge for Second Quarter of 2015

Wavefront Technology Solutions Inc. reported earnings results for the second quarter ended February 28, 2015. The basic and diluted net loss for the second quarter increased by $2,952,875 to $4,089,528 or $0.049 per share compared to $1,136,653 or $0.014 per share for the comparative quarter ended February 28, 2014. The increase in net losses was principally impacted by the recording of the non-cash impairment expense of $2,968,889 that represents 72.3% of the recorded net losses. Prior to the non-cash impairment expense of $2,968,885, the basic and diluted net loss for the second quarter ended February 28, 2015 decreased by $16,010 to $1,120,643 or $0.014 per share. The EBITDA loss and EBITDA loss per share for the quarter was $3,853,829 ($0.046 per share), compared to $706,430 or $0.009 per share in the comparative quarter in 2014. The EBITDA loss and EBITDA loss per share, prior to the non-cash impairment expense of $2,968,885, for the quarter ended February 28, 2015 was $884,944 or $0.011 per share. The Company completed the impairment tests and recorded a non-cash impairment charge of $2,968,885 for the second quarter of 2015, which is allocated to the assets in the CGU consisting of $98,313 non-cash impairment charge for property, plant and equipment and $2,870,572 non-cash impairment charge for intangible assets. This non-cash charge does not have an impact on the Company's cash flows from operating activities and will not have an impact on the CGUs' future operations.

Wavefront Announces Completion of Powerwave Systems Installation for Petrobras USD 1.25 Million Project

Wavefront Technology Solutions Inc. announced that installations of the Powerwave systems related to the approximate USD 1.25 million Petrobras contract in Brazil have been completed. With the completion of the installations, Wavefront will commence recognizing revenue for this project over the term of the contract. These installations represent another significant development in the commercialization of Powerwave in South America and it is very confident that the Powerwave systems will generate the anticipated results for Petrobras leading to wide spread use.

Wavefront Technology Solutions Inc. Announces Completion of Three Powerwave Well Stimulations in Oman

February 25, 2015 Wavefront Technology Solutions Inc. announced that three Powerwave well stimulations have been successfully completed in Oman. The well stimulation protocols were pre-designed with the company’s newly introduced dynamic well stimulation modeling software.

 

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