Unicorp announced its second quarter operational update yesterday after the bell, detailing a 453% in production levels. For the six months ended June 30, 2007 the company reported $199,248 in gross profits compared to a gross loss of $34,949 during the same period in 2006.
To acquire funds for ongoing operations, Unicorp signed a securities purchase agreement with YA Global Investments, L.P., an accredited investor, for the sale of $7 in secured convertible debentures. The agreement began in May of this year.
Wall Street News Alert advises that investors looking to benefit from the energy sector will be watching Unicorp closely. The company’s goal is to achieve a high return on its investment by limiting its up-front acquisition costs by quickly developing its acquisitions and by practicing a sound and smart approach to oil & gas exploration and development.
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