Past year: ▼ 47%(2.00c – 5.00c USD)
Each one in plain English, with the numbers worked through for a shareholder.
13 May 2020capital raising announcement▼ BadMajor
Confirmed the SylvaCap Media marketing deal and disclosed the dilution toll of Series C conversions: only 6.7 million shares outstanding as of May 2020 even after a 5x increase in authorized shares, with the conversion-premium price down to $0.6721 and falling -- and admitted it still needed a transaction to regain NYSE compliance.
3 Apr 2020merger communication● Neutral
Because of COVID-19, Camber moved its special shareholder meeting on the Viking merger to a virtual-only format - an administrative change, not a delay of the vote itself.
2 Apr 2020merger communication● Neutral
Camber issued a press release laying out a projected timeline for completing the Viking Energy acquisition - routine deal-progress messaging.
2 Apr 2020business combination● Neutral
Camber published a projected timeline for closing the Viking Energy merger, while flagging COVID-19 oil-price volatility as a new risk to the deal.
17 Mar 2020business combination● NeutralMajor
Camber's pending reverse merger with Viking Energy Group - agreed February 3, 2020 - had already given it a 25% stake in Viking's oil-hedging subsidiary Elysium Energy, whose hedging terms were disclosed here just as COVID-19 hit oil markets.
17 Mar 2020merger communication● Neutral
Camber's preferred-stock investor bought another $5 million of Series C preferred stock (525 shares at a discount to face value), continuing the financing arrangement that had funded the company through its debt crisis.
17 Mar 2020merger communication▲ GoodMajor
Camber disclosed the January 23, 2020 letter of intent that started its Viking Energy courtship: a proposed reverse merger in which Viking's own shareholders would end up owning about 85% of the combined company.
17 Mar 2020merger communication● Neutral
Camber filed a press release under SEC merger-communication rules saying Elysium Energy, sole member of its 25%-owned Elysium Energy Holdings, hedged 75% of 2020 production from newly acquired Texas and Louisiana assets. The 25% stake came from Viking under the merger agreement.
28 Feb 2020listing compliance notice▼ BadMajor
With the Lineal pivot unwound, Camber landed back in NYSE American trouble: stockholders' equity had fallen to $3.1 million (below the $4 million minimum) after losses in three of the last four fiscal years, triggering another compliance-plan deadline, this time with an August 2021 target.
14 Feb 2020quarterly activities report▼ Bad
CAMBER ENERGY, INC. reported quarterly revenue of $94 thousand and a net loss of $1.8 million for the period ended 2019-12-31.
5 Feb 2020capital raising announcement● NeutralMajor
As part of the original Camber-Viking merger agreement, loaned Viking $5 million via a 10.5% secured note (maturing 2022) and simultaneously opened a fresh Series C Preferred sale -- financing both sides of the deal it was trying to close.
3 Jan 2020asset acquisition disposition▼ BadMajor
The Lineal merger was unwound by mutual agreement less than six months after closing: the combined company was never able to meet NYSE American's re-listing requirements, so Lineal's original owners took the business back and Camber's Series E/F preferred stock was cancelled - averting the threatened 93%+ dilution of common shareholders, but leaving Camber with about $2.34 million in notes receivable from Lineal instead of the operating business it had hoped to build around.
19 Nov 2019quarterly activities report▼ Bad
Camber reported quarterly revenue of $6.4 million, mostly $6.3 million of contract revenue from the newly acquired Lineal, and a net loss of $277 thousand for the quarter ended September 30, 2019. Oil and gas revenue was $93 thousand.
14 Nov 2019late filing notice▼ Bad
CAMBER ENERGY, INC. notified the SEC that its quarterly report would be filed late.
14 Aug 2019quarterly activities report▼ Bad
Camber reported revenue of $121 thousand and a net loss of $1.3 million for the quarter ended June 30, 2019. Revenue was down from $1.7 million a year earlier.
10 July 2019asset acquisition disposition● NeutralMajor
Camber completed its acquisition of Lineal Star Holdings - parent of veteran pipeline-services firm Lineal Industries (Pittsburgh) and Lineal Star Incorporated (Houston) - paying with newly issued preferred stock; this is the reverse-merger deal that Camber would go on to unwind before shareholder approval later that year, per the company's existing history.
9 July 2019business combination▼ BadMajor
Camber closed its reverse merger with Lineal Star Holdings (pipeline integrity/construction businesses Lineal Industries and Lineal Star), acquiring 100% of Lineal for new preferred stock. Once shareholders approve - not expected before November 2019 - Lineal's former owners would hold 66.67% of Camber and existing common shareholders would be diluted to just 6.67%; the filing also reveals, for the first time, that Camber's mystery Series C preferred investor since 2017 is Discover Growth Fund, which would hold a further 26.67% via new Series D preferred stock. Camber separately loaned Lineal $1.05 million.
21 May 2019capital raising announcement● Neutral
Camber agreed with Alan Dreeben, a former director and sole Series B holder, to convert all 44,000 Series B shares into 503 common shares for $25,000 in cash. This released $1.1 million of liquidation preference so no Series B would remain when the planned pipeline-services acquisition closed.
13 May 2019business combination▲ Good
Camber completed due diligence on Lineal Star Holdings and moved into negotiating final, tax-free merger documents, targeting a definitive agreement within about two weeks.
2 May 2019business combination▲ GoodMajor
Camber named its reverse-merger target: Lineal Star Holdings, a 64-year-old pipeline integrity, construction and field-services business with master service agreements in Pennsylvania, Ohio and West Virginia and expansion plans into Texas and the Gulf South. Lineal's owners would end up with 67-70% voting control of Camber once the all-stock deal closes.
22 Apr 2019business combination▲ Good
NYSE American gave preliminary, non-binding approval to the structure of Camber's planned pipeline-services reverse merger, clearing a key regulatory hurdle while final documents were negotiated.
10 Apr 2019business combination● Neutral
Camber signed a revised non-binding letter of intent, changed after discussions with NYSE American, to acquire a pipeline services and construction company in an all-stock deal. The seller would get preferred stock convertible into 67-70% of Camber's fully diluted common stock, with closing planned in four to five weeks.
20 Mar 2019business combination● NeutralMajor
Under new interim CEO Louis Schott, Camber pivoted strategy: it signed a non-binding letter of intent for an all-stock reverse merger with an unnamed pipeline integrity, construction and field-services company, which would give the target's owners 67% voting control of Camber. It also dropped a separate plan to buy Kansas oil and gas working interests after diligence found it wasn't worth pursuing.
19 Feb 2019listing compliance notice▲ GoodMajor
Camber regained compliance with three NYSE American stockholders' equity listing standards after a process that began in August 2017, with equity of $7.6 million at December 31, 2018. It remained out of compliance with the low share-price standard.
14 Feb 2019quarterly activities report▼ Bad
Camber filed an amendment to its 10-Q for the quarter ended September 30, 2018, correcting its total estimated proved reserves figure, which had been misreported through a clerical error. No financial statements were included.
14 Feb 2019quarterly activities report▼ Bad
CAMBER ENERGY, INC. reported quarterly revenue of $128 thousand and a net loss of $1.6 million for the period ended 2018-12-31.
14 Feb 2019quarterly activities report▼ Bad
Camber filed an amendment to its 10-Q for the quarter ended June 30, 2018, correcting its total estimated proved reserves figure, which had been misreported through a clerical error. No financial statements were included.
13 Feb 2019substantial holder notice● Neutral
Condagua, LLC and John and A. Glenn Helmers filed an amendment to their 2017 Schedule 13G/A, correcting their Camber holding of 11,570 shares to 0.017% of the class rather than the 6.64% previously stated.
27 Dec 2018substantial holder notice● Neutral
Discover Growth Fund, LLC reported beneficial ownership of 676,598 Camber common shares (9.99% of the class) through convertible Series C preferred stock issued December 10, 2018. It has no voting power, having granted an irrevocable proxy to Camber's board.
14 Dec 2018listing compliance notice▲ Good
NYSE Regulation extended Camber's listing-compliance deadline again, to February 3, 2019.
