OTC Bulletin Board S & P Company Insight for WESCORP ENERGY INC
Profile
	Business Summary: Wescorp Energy Inc. acquires, develops and commercializes technologies that are designed to improve the environmental and economic performance of field operations for oil and gas producers. It plans to use its technologies to remediate certain contaminants in oilfield water.   Address   Suite 770, 435 4th Avenue S.W.   Calgary , Alberta T2P 3A8   Phone: 403-206-3990   Fax: 403-206-3993   Website: http://www.wescorpenergy.com Auditor   DALE MATHESON CARR-HILTON LABONTE LLP Transfer Agent   Interwest Transfer Co. Inc. Employees:  5 ShareHolders:  1950 Founded:  1998 Domicile:  Delaware
Background
	Wescorp Energy Inc. acquires, develops and commercializes technologies that are designed to improve the environmental and economic performance of field operations for oil and gas producers. The company's sources of revenue include revenues from its subsidiaries, Raider Chemical Corporation and Total Fluid Solutions Inc. Total Fluid Solutions, a wholly owned subsidiary, owns a North American patent for certain oil-water separation technology, and Wescorp is in the process of filing a provisional patent application for additional technology in this area. The company also owns all of the intellectual property rights for a solids-oil separation technology that is not patented, but is held as a trade secret. With these technologies, Wescorp hopes to be able to remediate two of the main contaminants (solids, hydrocarbon) in oilfield water that result from exploration for, and production of, oil and gas. The technology to remove solids from the oilfield water uses a proprietary, environmentally friendly, chemical process to separate drilling solids from the water and hydrocarbon mixtures, which are found in the water as a result of drilling the wells. The solids are cleaned to a standard that allows them to be used in construction. The technology to remove hydrocarbons from the oilfield water uses a patented aeration process that is expected to reduce the hydrocarbon content from the conventional 5,000 to 30,000 parts per million range to less than 100 parts per million. The third technology, to remove salt from the oilfield water, uses a low-energy process of flash distillation to separate the salts from the water. Raider, another wholly owned subsidiary, designs and manufactures specialized chemicals used in the cementing and stimulation services area within the oil and gas industry. Wescorp Energy Inc. is headquartered in Calgary, Alberta, Canada. History:  INCORPORATED in Delaware Aug. 11, 1998, as Unique Bagel Co., Inc.; name changed to CTI Diversified Holdings, Inc. Dec. 26, 2000, and to Wescorp Energy Inc. Dec. 22, 2003. March 31, 2004, through a subsidiary, acquired 100% of the outstanding shares of Flowstar Technologies Inc. and Flowray Inc. for Canadian Dollar 550,000. Flowstar and Flowray were legally amalgamated on Dec. 31, 2004, into one company that continued under the name Flowstar Technologies Inc. The company divested itself of Flowstar on Jan. 5, 2010. September 11, 2007, acquired Strategic Decision Sciences USA Inc. for 2,000,000 Common shares. December 18, 2007, Wescorp Technologies Ltd, a wholly owned subsidiary of the company, closed an asset purchase agreement with FEP Services, Inc., pursuant to which Wescorp Technologies acquired certain rights to three different water remediation technologies and assets that the company used to create two new business units, Total Fluid Solutions Inc. and Raider Chemical Corporation. Wescorp Technologies assumed liabilities of approximately $240,000 and delivered to FEP a two-year promissory note in the face amount of $2,665,000, 13,900,000 Common shares of the company and 470,143 Common shares of Oilsands Quest Inc.   Subsidiaries: Raider Chemical Corporation Total Fluid Solutions Inc.
Management
	Management Officers Position  Robert G. Power Chairman  Douglas E. Biles President & Chief Executive Officer  Robert Martin Nicolay Chief Financial Officer  Scott M. Shemwell Chief Operating Officer  Blaine  Miciak Chief Accounting Officer & Controller  Dave  LeMoine Exec VP  Terri  MacInnis Investor Relations Contact Directors  Douglas E. Biles  Alfred  Comeau  William R. Cooper  Mark  Norris  Robert G. Power  Jos De Smedt
Annual Report
	Annual Report   Income Statement   2009 2008 REVENUES 864 1,006 COST OF SALES 545 678 GROSS PROFIT 319 328 Operating expenses 4,011 6,402 Depr. & amort. 209 248 Other expenses (2,254) (1,606) LOSS FROM CONTINUING OPERATIONS (6,155) (7,928) LOSS FROM DISCONTINUED OPERATIONS (922) (331) Net income (7,077) (8,259) Basic & diluted from continuing operations (0.07) (0.10) Basic & diluted from discontinuing operations (0.01) - Basic & diluted EPS (0.08) (0.10)   Balance Sheet   2009 2008 Assets: Cash & equiv. 118 429 Accts. rec., net 259 163 Inventories 51 48 Prepaid expenses 14 11 Current assets of discontinued operations 485 1,585 Tot. curr assets 928 2,237 Investments 30 30 EQUIPMENT 34 621 EQUIPMENT, DISCONTINUED OPERATIONS 13 110 Total assets 1,004 2,998 Liabilities: Accounts payable 1,125 1,154 Accrued liabilities 717 1,011 Current portion of notes payable 600 1,280 Penalty share obligation 5,338 2,190 Due to related parties 101 201 Related party note payable 1,925 1,925 Convertible debentures 90 2,340 Debentures payable 217 293 Current liabilities of discontinued operations 386 626 Tot. curr. liabs. 10,550 11,011 Notes payable 1,538 - Due to related parties 117 - Notes payable of discontinued operations - 8 Com. stk. p. $0.0001 10 9 Paid-in cap. 41,800 38,745 Shares issuable 231 166 Accumulated other comprehensive income 84 78 Private placement and warrant subscriptions 922 189 Subscription receivable - (23) Retained earns. (54,215) (47,138) Total stockholders' equity (11,201) (8,030) Total liabs. 1,004 2,998
Interim Report
	Interim Report      Data Not Available
Pro Forma Report
	Pro Forma Report      Data Not Available
Quarterly Report
	Quarterly Report Information      Quarterly Revenue, US$ Year Quarter Revenue   2010   1 450,000   2009   1 570,000   2009   2 372,000   2009   3 640,000   2009   Full Year 860,000   2008   1 926,000   2008   2 754,000   2008   3 1,415,000   2008   4 1,403,000   2008   Full Year 4,497,000   2007   1 818,000   2007   2 494,000   2007   3 1,100,000   2007   4 730,000   2007   Full Year 3,141,000   2006   1 1,079,000   2006   2 981,000   2006   3 448,000   2006   4 676,000   2006   Full Year 3,184,000   2005   1 621,000   2005   2 431,000   2005   3 639,000   2005   4 633,000   2005   Full Year 2,324,000     Quarterly Net Income, US$ Year Quarter Revenue   2010   1 (440,000)   2009   Full Year (6,150,000)   2008   Full Year (8,259,000)   2007   Full Year (19,178,000)   2006   Full Year (4,372,000)   2005   Full Year (4,553,000)     Quarterly EPS, US$ Year Quarter Revenue   2010   1 Nil   2009   1 (.02)   2009   2 (.02)   2009   3 (.01)   2009   Full Year (.07)   2008   1 (.02)   2008   2 (.03)   2008   3 (.02)   2008   4 (.03)   2008   Full Year (.10)   2007   1 (.03)   2007   2 (.04)   2007   3 (.05)   2007   4 (.22)   2007   Full Year (.35)   2006   1 (.01)   2006   2 (.02)   2006   3 (.03)   2006   4 (.03)   2006   Full Year (.10)   2005   1 (.02)   2005   2 (.02)   2005   3 (.03)   2005   4 (.06)   2005   Full Year (.12)
Stock Data
	Capitalization as of 03/31/2010:     Authorized Shares Outstanding Shares Preferred $0.0001 par 50,000,000 None Common $0.0001 par 250,000,000 97,320,842   LONG TERM DEBT: $1,537,688.   Common $0.0001 par   Stockholders:  04/01/2010, 1950. Transfer Agent:  Interwest Transfer Co. Inc.   Salt Lake City , UT   OTC Bulletin Board( Primary): WSCE   Exchange Year High Low OTC Bulletin Board 2009 0.4100 0.2200 OTC Bulletin Board 2008 0.5000 0.2300 OTC Bulletin Board 2007 0.5200 0.3450   DIVIDENDS: Common $0.0001 par: No cash.