Video Raises Doubts Over Flotek's Close Recent Statements

Flotek (NYSE:FTK) release an SEC filing inward which they admitted the substantial points inward my lastly spider web log post. The information that they presented proving the efficacy of FracMax was inconsistent alongside the official information at the Texas Railroad Commission as well as wrong.

They argued that FracMax as well as their "complex nano-fluid" [CnF] worked nonetheless.

You tin discovery the SEC filing here.

They yet denied 1 proffer inward my master copy post. Flotek had long said that FracMax - an oil-field-database iPad app was a cardinal to their sales success. However the iPad app crashed 2 iPads as well as clearly did non perform its stated function.

Here is what Flotek said inward the SEC filing.

A lastly assertion made inward the study claims that attempts to download FracMax® for personal utilization resulted inward iPad malfunctions as well as no success inward obtaining an operating version of the software application. The writer concludes that the plan does non operate properly.

As the Company has consistently noted since inception, FracMax® is a proprietary software application for the exclusive internal utilization of Flotek employees. While the Company is preparing to unloose a novel version of the software available for utilization past times operators, FracMax® is non currently available exterior of Flotek employees. H5N1 cardinal code likewise equally other safety requirements are necessary to obtain a working re-create of the FracMax® application. This has been a consistent policy since FracMax® was introduced inward 2014.

In other words they stated that at that topographic point is no version of FracMax available to people who are non FloTek employees.

Here is a video that Flotek presented on their investment twenty-four hours inward September.




This video ends alongside a long claim for the create goodness of FracMax. To quote:

Now USA as well as National Oil Companies tin license a versions of the application customised to them on a FracMax centric Apple iPad which offers the mightiness to import specific reservoir as well as production software outputs for private wells. Its associated FracMax Halo Technology enables alternative of unique information fields for the special user. 

With the Flotek FracMax app hundreds of hours worth of detailed as well as potentially expensive furnish on investment analysis is available alongside the touching of a screen. 

Its to a greater extent than impactful as well as convenient than e'er to sense the existent footing create goodness of CnF, an excogitation that is revolutionising an manufacture past times genuinely making a difference. 

You tin touching it, you lot tin come across it, as well as similar a shot you lot tin believe it. Your information has larn intelligent inward a means never imagined.

The time to come is here.

This version of FracMax is clearly available to non-Flotek employees.

I promise that Flotek tin demo us at to the lowest degree 1 modified version of FracMax useable past times tertiary parties. Or they tin somehow explicate away that video.

Or otherwise it is simple.

There is a major misrepresentation alongside probable severe legal ramifications.

And it volition larn ugly.





John