Nordic American Offshore (NAO) has just reported its Q4 results. Since the company is on the brink of restructuring, this report is especially interesting for both traders and investors. In prior months, Nordic American Offshore received $5 million liquidity injection from Scorpio Offshore and performed a reverse stock split. Let’s now look at the developments on the financial front and on the ongoing negotiations with lenders.
In the fourth quarter of 2018, Nordic American Offshore reported revenue of $5.6 million and net loss of $169.3 million. The majority of this net