Past year: ▼ 57%(0.20c – 6.30c USD)
Each one in plain English, with the numbers worked through for a shareholder.
27 Oct 2009registration revoked▼ BadMajor
The SEC's administrative proceeding concluded with an order revoking Caddo International's securities registration effective October 27, 2009, for its multi-year failure to file periodic reports, ending the Company's public reporting life.
1 July 2009listing compliance notice▼ BadMajor
Now renamed Caddo International, Inc. (formerly Petrol Industries), the Company disclosed that the SEC opened a formal administrative proceeding on June 26, 2009 (File No. 3-13527) to revoke/delist its registered securities under Exchange Act Rule 12d2-2, since no periodic report had followed the 2006 late-filing notice; management said it was consulting counsel and its auditors for a remedy.
16 Dec 2005auditor change▼ Bad
Auditor Heard, McElroy & Vestal resigned effective September 1, 2005; the Company went over three months without an auditor before engaging Malone & Bailey, P.C. on December 13, 2005. HMV confirmed no accounting disagreements, though it noted it had no direct knowledge of the board's decision to hire the new firm.
28 July 2005asset acquisition disposition▼ BadMajor
David A. Taylor resigned as President and Secretary after barely three weeks, with no replacement named. The same filing disclosed a July 14, 2005 assignment of the Company's Lucille & Charles Horne oil/gas lease for $10,000 plus roughly $325,000 of assumed debt (total ~$335,000), transacted by one director to an entity represented by another - the Company itself said it did not yet know whether this was a related-party transaction.
24 June 2005director officer appointment● NeutralMajor
SHWJ Oil & Gas completed the second and final tranche of its stock purchase (562,000 shares at $0.40/share for $225,800, bringing its total investment to $497,244 for 1,240,612 shares), triggering the resignations of President/Chairman Joseph M. Rodano and VP/Secretary Arlys C. Milan; new directors Ronnie Allen (an independent Louisiana oil producer) and Stephan Latieyre joined the board, and David A. Taylor was named President and Secretary.
3 June 2005annual report● Neutral
A second re-filing one day later, made per a same-day phone call with SEC staff to further revise the certification language - the comment cycle's final fix, with financial figures unchanged throughout.
2 June 2005annual report● Neutral
First of two same-month re-filings of the FY2004 annual report responding to the SEC's comment letter, revising the auditor's report wording and the Section 302 certifications; no financial figures changed.
25 May 2005annual report● Neutral
SEC staff sent a comment letter on the just-filed FY2004 annual report asking for two accounting fixes - the auditor's report reworded to cite PCAOB standards, and the Section 302 certifications updated to the SEC's newer required language - prompting the two amended re-filings that followed in June 2005.
10 May 2005director officer appointment● NeutralMajor
SHWJ Oil & Gas, Inc., a Texas company, bought 678,612 new Petrol shares at $0.40 each for $271,444, the first of two sales, with the second expected in late May 2005. Its officer and director Mario Lanza was appointed to the board, filling the vacancy left by Robert Bontempi's resignation.
1 Apr 2005annual report▲ GoodMajor
For FY2004 the Company reported revenue of $805,039 and a continued operating loss. Production fell 26.5% to 19,685 barrels from 26,766, partly offset by a higher average oil price of $38.57 per barrel versus $27.52.
14 May 2004annual report● Neutral
A further re-filing of the FY2003 annual report six weeks later with no changes to the reported revenue or net-loss figures, the same certification-only pattern as the prior year's amendment.
31 Mar 2004annual report▲ Good
FY2003: net loss narrowed sharply to just $19,733 on revenue of $763,846, as oil prices continued climbing (averaging $27.52/barrel) and the Company booked a $133,500 gain on an asset sale.
13 May 2003annual report● Neutral
A re-filing of the FY2002 annual report six weeks later, adding officer certifications in the newly-required Sarbanes-Oxley format - no revenue or net-loss figures changed from the original.
25 Apr 2003annual report▼ Bad
FY2002: net loss widened further to $238,398 on revenue of $448,858, the Company's lowest annual revenue since FY1998.
2 Apr 2002annual report▼ Bad
FY2001: net loss widened again to $205,672 on revenue of $547,609, as the average realized oil price fell to $22.61/barrel and production declined 18.7%.
30 Mar 2001annual report▲ GoodMajor
FY2000: oil prices jumped to an average $27.18/barrel, the Company's best price in years, turning a rare $3,685 operating profit before other items - though after interest expense it still posted a small net loss of $34,768 on revenue of $799,536.
4 Apr 2000annual report▲ Good
FY1999: net loss narrowed to $185,131 on revenue of $535,680 as oil prices partly recovered to an average $16.48/barrel.
30 Mar 1999annual report▼ BadMajor
FY1998: net loss deepened sharply to $383,990 as revenue nearly halved to $472,591, reflecting the late-1990s global oil-price collapse (average realized price fell to $12.03/barrel).
30 Mar 1998annual report▼ Bad
FY1997: net loss widened to $236,196 on revenue of $810,365, as the average realized oil price fell to $18.44/barrel and production kept declining.
5 Dec 1997auditor change● Neutral
A follow-up amendment attaching KPMG's own concurrence letter confirming it had no accounting disagreements with Petrol - closes out the November auditor-change disclosure with no new substance.
19 Nov 1997auditor change● Neutral
Petrol dismissed longtime auditor KPMG Peat Marwick, whose reports had carried a going-concern qualification, and engaged Heard, McElroy & Vestal, LLP effective November 12, 1997; the company stated there were no disagreements with KPMG on any accounting matter.
27 Mar 1997annual report▲ Good
FY1996: net loss narrowed further to $133,243 on revenue of $956,541, as the average realized oil price rose to $20.34/barrel (from $16.59) despite another production decline.
29 Mar 1996annual report▼ Bad
FY1995: Petrol Industries, a small Shreveport, Louisiana oil/gas operator, posted a net loss of $171,620 on revenue of $849,750, narrowing slightly from FY1994's $180,338 loss as cost cuts partly offset a further production decline. The company earns fees drilling and operating wells for two 1980s-vintage limited partnerships, keeping 75% of net revenues from the wells it operates for them.
