* Fourth quarter revenue of $245 million, up 25% year-over-year
* Fourth quarter subscription revenue of $209 million, up 24% year-over-year
* Fourth quarter GAAP EPS of $0.17, up 42% year-over-year; non-GAAP EPS of $0.26, up 37% year-over-year
* Fourth quarter operating cash flow of $95 million, up 22% year-over-year
It is a generally known fact that the United States has been importing oil since the 1970's because oil production at home cannot meet the sky-rocketing demands of our consumption. According to the 2009 yearly average, the U.S. Crude Oil is devouring around 21 million barrels a day and U.S. production is approximately around 5 million. Why are things increasing so rapidly? Why are resources running out at such a high acceleration? There is no easy answer but all of it is very much related to one single idea: a great number of growth.
Within the last 200 years, the advancement in human technology has made our way of life totally dependent on Oil, Gas & Coal, which are the main elements for fuel for a variety purposes. What makes Oil different is the huge variety of goods that can be born from it. A small list of some of these products: Gasoline, Diesel, Fuel oil, Propane, Ethane, Kerosene, Liquid petroleum gas, Lubricants, other alkanes, heating oil, asphalt, bitumen, plastic, bags, toys, candles (paraffin), clothing (polyester, nylon), cosmetics, petroleum jelly, perfume, dish-washing liquids, ink, bubble gums, car tires and more.
So it is apparent that the modern industry is totally dependent on Oil.
However, the amount and size of Oil Reserves on the U.S. is immense. The U.S. has in fact the third largest oil production after Saudi Arabia and Russia.
Proper Power & Energy is an independent exploration and production company. The Company's operations are in Kentucky, which provides for low risk developmental drilling and production, and Utah, which the Company controls over 11,000 acres for its exploratory prospect. Renowned geophysicist and consultant to Proper Power, Robert Dunbar, believes the Utah prospect could hold up to one billion barrels of recoverable oil.
Crown Equity Holdings Inc. (CRWE.OB) received 1,000,000 shares of free trading shares from a third party (Mohamad Nehmeh) for two (2) weeks of advertisement services for Proper Power & Energy, Inc. (PPWE.PK).
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