Barrel Energy Inc.

Non-viable shell-like oil & gas micro-cap with no revenue, no cash and going-concern doubt.

Strengths

• Net loss narrowed modestly versus a derivative-driven prior year

Risks

• Zero cash and zero current assets against ~$1.76M current liabilities; ~$21.2M accumulated deficit
• Explicit going-concern doubt, no revenue source, and stale FY2020 data

Notable findings

• Going concernThese factors raise substantial doubt about the company’s ability to continue as a going concern for at least one year from the issuance of these financial statements
• Auditor changeRecent 8-K item 4.01 8-K ↗
• Weak liquidityCurrent ratio 0.00 (<1)
• Chronic dilutionShare count +38%/yr over 4y (dilution)