Viking Energy Group, Inc. is based in Houston, Texas. It is a growth-diversified energy organization that provides custom energy & power solutions to commercial and industrial clients in North America, through its several majority-owned subsidiaries. It also owns interests in oil and natural gas assets in the United States. Apart from that, it has an exclusive license in Canada to a patented carbon-capture system. It is awaiting patents on a fully developed, patent-pending, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology and Open Conductor Detection systems.
Trading Data
On Monday, VKIN stock slid 7.70% to $0.3360 with more than 73K shares, compared to its average volume of 61K shares. The stock moved within a range of $0.3351 – 0.3650 after opening trading at $0.3640.
Viking Energy Provides Update on Patent for Medical Waste Treatment Technology
Viking Energy Group, Inc. announced that its majority-owned subsidiary, Viking Ozone Technology, LLC, was advised about the United States Patent & Trademark Office issuing an Office Action. This is pursuant to Viking Ozone’s pending patent application covering multi-chamber medical waste treatment systems and methods, wherein a number of claims have been found by the Patent Office to be allowable.
An issued patent will most probably follow, after the Amendment and Response. This covers Viking Ozone’s proprietary methods and devices utilizing Ozone-based treatments. Viking is expected to use this technology in its expansion into the medical waste treatment field internationally.
Viking Energy Appoints John McVicar as Chief Financial Officer
Back in June of this year, the company announced the appointment of John McVicar, CPA, CA, MBA, ICD.D, as Chief Financial Officer of the Company. He replaced Frank Barker, who will remain with the company as a consultant on an as-required basis.
Mr. McVicar has over three decades of experience in international business, in the areas of management consulting and finance. He was previously a consulting partner at a Big 4 firm and CFO of a TSX-listed company. He has also served in several regional finance leadership roles with large U.S. and Canadian multinationals in Canada, the U.S., South America, and Asia. He is a CPA, CA and received an MBA from Duke University and a B. Comm from Queen’s University.
James Doris, President and Chief Executive Officer of Viking, has thanked Mr. Barker wholeheartedly for his contribution to the company in the last few years. He is hopeful that Mr. McVicar joining the executive team will help propel the next phase of growth, and aid in their profitability strategy too. It includes new acquisitions and the monetization of their innovative technologies.
James Doris, President and Chief Executive Officer of Viking, commented, “We are grateful for Frank’s contributions to the company over the past few years, and are pleased to have John join the executive team to assist with executing the next phase of our growth & profitability strategy, including with respect to new acquisitions and the monetization of our innovative technologies.”
Technical Data
VKIN stock is trading below the 20-Day and 50-Day Moving averages of $0.40 and $0.51 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.69. The company has a total market capitalization of $38.64 million. The stock is down 27% over the past month.
