Past year: ▼ 47%(2.00c – 5.00c USD)
Each one in plain English, with the numbers worked through for a shareholder.
19 Oct 2007auditor change● Neutral
Lucas Energy dismissed Malone & Bailey (no disagreements, clean reports) and hired GBH CPAs, following the same audit partner who had just moved firms. Filed twice under separate accession numbers with identical text; see extraction_issues.
21 Aug 2007capital raising announcement▲ GoodMajor
Closed the remaining $4 million of the July financing, bringing the total to 10,434,784 shares and warrants issued for $10.92 million net proceeds -- Lucas Energy's first major capital raise as a public company.
24 July 2007capital raising announcement▲ GoodMajor
As Lucas Energy, closed the first tranche of a $12 million equity financing -- 6,956,522 shares plus matching warrants at $1.15/$2.00, sold to 25 accredited investors for $7.28 million net -- with $4 million still to come.
10 Apr 2007auditor change● Neutral
Lucas Energy's auditor Moore & Associates resigned without ever having actually signed off on its books; Malone & Bailey took over. The prior auditor's report had flagged going-concern doubt.
1 Mar 2007asset acquisition disposition● Neutral
Lucas Energy added a nearby 498-acre lease with five wells to its Gonzales County acreage, paying nothing upfront - just a 20% royalty to the mineral owner.
21 Dec 2006asset acquisition disposition● Neutral
Lucas Energy bought six more Gonzales County, Texas oil wells (four producing, two shut in) from Delphic Oil, paying entirely in restricted stock rather than cash.
30 Aug 2006asset acquisition disposition● Neutral
Lucas Energy (later Camber Energy) borrowed $2.3-3 million from two lenders to buy nine producing oil and gas properties in Gonzales and Karnes Counties, Texas for $2.75 million, paid in cash, stock and a small seller royalty.
20 June 2006business combination● NeutralMajor
Panorama's reverse takeover of Lucas Energy Resources closed in June 2006: 19,160,011 new shares went to its 19 private holders and 2,640,000 were transferred by the old controlling holders, making 21,800,011 in all. The shell dropped its apparel business, renamed itself Lucas Energy, did a 2.4-for-1 forward split, and ended its old service agreement.
23 May 2006director officer appointment● NeutralMajor
The beginning of the company: a shell called Panorama Investments agreed to take over privately held Lucas Energy of Nevada in a share exchange for 9,083,334 shares, with every existing director and officer to resign at closing and Lucas's board to replace them. James J. Cerna Jr. was put on the board the same day as interim director and operating chief.
