The Quick ratio of Petroteq Energy, Inc. is 0.18
Quick ratio is liquidity ratio that measures a company’s ability to use its quick assets to meet its short-term obligations immediately.
mrq (most recent quarter)
The quick ratio is the ratio between quick or liquid assets and current liabilities. Quick assets include those current assets that presumably can be quickly converted to cash at close to their book values. A normal liquid ratio is considered to be 1. A company with a quick ratio of less than 1 cannot at the time fully pay its current liabilities or short-term obligations. This ratio is considered to be a much reliable tool for assessment of liquidity position of companies.
Petroteq Energy Inc., through its subsidiaries, engages in the oil sands mining and processing operations in the United States. It holds rights to mine, extract, and produce oil and associated hydrocarbons and minerals from oil sands containing heavy oil and bitumen under mineral leases covering approximately 1,671,91 acres in the Asphalt Ridge area of Utah, including 320 acres held under the TMC Mineral Lease and an additional 1,351.91 acres held under three Temple Mountain State of Utah's School and Institutional Trust Land Administration Leases. The company also operates rights under five leases covering lands consisting of approximately 5,960 acres situated in Uintah, Wayne, and Garfield Counties, Utah. In addition, it is developing a blockchain-powered supply chain management platform for the oil and gas industry. The company was formerly known as MCW Energy Group Limited and changed its name to Petroteq Energy Inc. in May 2017. Petroteq Energy Inc. was founded in 2010 and is based in Sherman Oaks, California.