Past year: ▲ 0%(0.01c – 0.01c USD)
Each one in plain English, with the numbers worked through for a shareholder.
10 Apr 2019asset acquisition disposition▼ BadMajor
Short of working capital, Arete sold five small Kansas and Wyoming working interests for $300,000 to a truck-wash company half owned by its own chief executive, with the remaining directors negotiating the price. Its bank line was cut to $523,000 and extended to 2020 - and this turned out to be the last report Arete ever filed.
5 Dec 2017auditor change▼ BadMajor
Hein quit after a single year, having warned of substantial doubt about Arete's ability to keep operating and of material weaknesses in its controls; Haynie & Company took over. Three audit firms in eighteen months, with a going-concern warning attached to the last one.
15 May 2017quarterly activities report▼ Bad
ARETE INDUSTRIES INC reported quarterly revenue of $249 thousand and a net loss of $126 thousand for the period ended 2017-03-31.
10 Apr 2017late filing notice▼ Bad
ARETE INDUSTRIES INC notified the SEC that its annual report would be filed late.
18 Nov 2016late filing notice▼ Bad
ARETE INDUSTRIES INC notified the SEC that its quarterly report would be filed late.
31 Aug 2016auditor change● Neutral
Hein & Associates picked up the audit a week later, so the 2016 accounts had a signer.
24 Aug 2016auditor change▼ Bad
Causey Demgen & Moore declined to stand again - the second time the same firm had walked away from Arete, after 2004 - reporting no disagreements over the accounts.
16 Aug 2016late filing notice▼ Bad
ARETE INDUSTRIES INC notified the SEC that its quarterly report would be filed late.
4 Aug 2016asset acquisition disposition● Neutral
Filed in August 2016, this adds the financial statements missing from the earlier report of the December 2015 Wellstar purchase (Padgett in Sumner County, Kansas, and Nebraska leases in Kimball County). Arete paid $1.1 million cash plus 1,000,000 restricted shares valued at $100,000, for a total of $1.2 million. The properties had sales of $359,465 in 2015 versus $831,437 in 2014, and revenue after direct operating costs of $83,154 versus $525,126. It states no new deal, only supporting numbers for one already done. The drop in the acquired properties' earnings is shown in the filing; its cause is not stated.
17 May 2016late filing notice▼ Bad
ARETE INDUSTRIES INC notified the SEC that its quarterly report would be filed late.
30 Mar 2016late filing notice▼ Bad
ARETE INDUSTRIES INC notified the SEC that its annual report would be filed late.
23 Feb 2016asset acquisition disposition● NeutralMajor
Arete completed the Wellstar purchase on 30 December 2015 and the same day broke escrow on its new 7% Series A2 preferred, raising $1.7 million. Effective 31 December it settled with the Tucker, DNR and Tindall group, paying $303,329 in cash plus preferred shares.
22 Feb 2016securities registration● Neutral
ARETE INDUSTRIES INC filed notice of an exempt private placement.
3 Dec 2015material agreement▲ GoodMajor
Arete agreed to buy producing oil leases in Sumner County, Kansas and Kimball County, Nebraska from Wellstar for $1.1 million cash plus a million shares - its first acquisition since 2011 and, unusually, from a seller with no connection to its own directors.
16 Nov 2015quarterly activities report▼ Bad
ARETE INDUSTRIES INC reported quarterly revenue of $254 thousand and a net loss of $390 thousand for the period ended 2015-09-30.
14 Aug 2015quarterly activities report▼ Bad
ARETE INDUSTRIES INC reported quarterly revenue of $238 thousand and a net loss of $299 thousand for the period ended 2015-06-30.
10 July 2015listing compliance notice▼ Bad
ARETE INDUSTRIES INC withdrew a registration statement, abandoning the offering it covered.
15 May 2015quarterly activities report▼ Bad
ARETE INDUSTRIES INC reported quarterly revenue of $271 thousand and a net loss of $305 thousand for the period ended 2015-03-31.
31 Mar 2015late filing notice▼ Bad
ARETE INDUSTRIES INC notified the SEC that its annual report would be filed late.
20 Nov 2014quarterly activities report● Neutral
ARETE INDUSTRIES INC reported quarterly revenue of $665 thousand and net income of $52 thousand for the period ended 2014-09-30.
17 Nov 2014late filing notice▼ Bad
ARETE INDUSTRIES INC notified the SEC that its quarterly report would be filed late.
14 Aug 2014quarterly activities report● Neutral
ARETE INDUSTRIES INC reported quarterly revenue of $749 thousand and net income of $89 thousand for the period ended 2014-06-30.
11 July 2014material agreement▲ Good
Arete took roughly 1.45% and 0.33% interests in two more Wyoming horizontal wells, and confirmed the three wells it joined in November 2013 had been drilled, completed and were producing.
16 May 2014late filing notice▼ Bad
ARETE INDUSTRIES INC amended its notice to the SEC that its quarterly report would be filed late.
16 May 2014quarterly activities report● Neutral
ARETE INDUSTRIES INC reported quarterly revenue of $660 thousand and net income of $184 thousand for the period ended 2014-03-31.
16 May 2014late filing notice▼ Bad
ARETE INDUSTRIES INC notified the SEC that its quarterly report would be filed late.
1 Apr 2014late filing notice▼ Bad
ARETE INDUSTRIES INC notified the SEC that its annual report would be filed late.
21 Feb 2014material agreement● Neutral
Arete bought back 1.2 million of its own shares - 8.9% of the register - from Burlingame at $0.19, with Scheidt, Prosser and Stewart taking a further 260,000 from the same seller. Insiders had converted debt at $8.00 a share three years earlier; the price now tells the real story.
14 Feb 2014substantial holder notice● Neutral
Burlingame Equity Investors Master Fund, LP, Burlingame Equity Investors II, LP, Burlingame Asset Management, LLC, Blair E. Sanford reported no remaining ARETE INDUSTRIES INC shareholding in its periodic institutional filing.
7 Feb 2014director interest notice● Neutral
ARETE INDUSTRIES INC 10%+ owner Burlingame Asset Management, LLC sold 1,460,000 shares.
