Jul. 10 at 12:02 AM
$DLXY Honest question: is this an actual business?
I haven’t done any research. Based only on the company’s own description of itself and its last/first annual report, I get the impression it might just be buying and selling petroleum products and/contracts at wholesale only for the purpose of generating an income statement so they can pay insiders/insider contractors in cash and stock. I.e, buying oil or whatever at X dollars and selling it at .99X dollars (break even-ish) just to create the illusion of a for profit business while the true operating plan is just to pay a few people’s salaries and fund contacts for “consultants.”
Their gross margin is basically zero which wouldn’t be odd for a growth company. Negative gross isn’t odd for a growth company. But this isn’t a tech startup. What possible future does a self-described petroleum trading company have with zero gross margins? What valuable or potentially profitable services or functions does this company provide?
