Ann: Quarterly Report and Cash Flow Reports, page-5

AZZ along with MAD qrtlys show just how unprofitable this shale oil game is yet still people and mkt and media are making out this is the saviour of USA energy independence - what a laugh - there is an enormous amount of capital going into this very expensive oil and I wonder when the capital inflows are going to stop - AZZ just one of hundreds not making profits and deep in the debt doodoo - this smells exactly like the gfc type scenario - no one is looking deeply into this energy revolution - the game appears to be that most kind of understand it isn't stacking up but hey no one wants to be heard spruiking bad news!!!!