For those who want a balanced perspective on PSN...especially the McReath Total BS, read this Forum:

Example: 'I had another look at Y/E & qtrly and yes they converted to IFRS from GAAP last Y/E. The notes indicate IAS compliant. For revenue recognition the note says :

(J) Revenue
Fracturing fluid tank rental revenues are generally derived from the provision of rentals and related services
which are based on contracts that include fixed or determinable prices based on daily rental rates. Revenue is
recognized when there is persuasive evidence of an arrangement, tank rentals and related services are provided,
the rate is fixed and determinable and collectability is reasonably assured'.


Beware the Short on this Forum - Color-Carter-Invest-Bluewater...All the same doomsayer