13 July 2009capital raising announcement● Neutral
Outside counsel Patton Boggs was paid partly in stock for legal services.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
18 June 2009capital raising announcement● Neutral
Hyperdynamics engaged an executive search firm to find a new CEO and two board members, paying with warrants - an early sign of a coming leadership change.
1 June 2009listing compliance notice▲ Good
NYSE Amex accepted the company's compliance plan and granted a listing extension, resolving the March 2009 warning for now.
23 Mar 2009listing compliance notice▼ BadMajor
NYSE Amex warned Hyperdynamics it was out of compliance with continued-listing requirements after reviewing its December 2008 quarterly report.
9 Mar 2009capital raising announcement● Neutral
Kent Watts's brother Mike Watts converted 40.5 shares of Series B preferred stock into 321,884 common shares on 5 March 2009, with no underwriter or fees. The board also set the number of directors at five, effective once there are five or fewer directors in office.
22 Dec 2008auditor change● Neutral
This is an amendment to the 19 December 2008 notice that Hyperdynamics dismissed its accountant, Malone & Bailey. It only attaches the former accountant's letter (exhibit 16.1); the text shown does not give what the letter says.
19 Dec 2008auditor change● Neutral
Hyperdynamics dismissed its accountant, Malone & Bailey, PC, with no stated disagreements - the first of several auditor changes over the following decade.
24 Nov 2008material agreement▼ Bad
As its stock fell, Hyperdynamics cut the conversion price on its Enable Growth debenture from $2.25 to $1.65, and the investor converted $3.25 million of that debt into equity.
15 Sept 2008material agreement● Neutral
Filed the definitive debenture and warrant documents for the September 2008 Enable Growth financing.
2 Sept 2008capital raising announcement● Neutral
Hyperdynamics launched a $5 million, 10%-interest convertible-debenture offering with Enable Growth Partners.
26 Aug 2008capital raising announcement● Neutral
Routine option and stock grants to employees and a consultant.
22 May 2008material agreement● Neutral
Yorkville's warrants were repriced down to $1.65 as part of adjusting the February 2008 loan, expected to bring in $1.1 million when exercised.
12 May 2008material agreement● Neutral
The company raised about $4 million selling stock and warrants through placement agent Rodman & Renshaw under its shelf registration.
18 Apr 2008capital raising announcement● Neutral
More Series B preferred stock converted to common shares.
7 Mar 2008debt financing▼ Bad
Yorkville funded the second of three loan tranches ($1.09 million) and recorded a mortgage over the company's Louisiana leases as collateral.
8 Feb 2008capital raising announcement▼ BadMajor
Hyperdynamics and its two subsidiaries signed a financing with its earlier lender Yorkville (YA Global) for three loans totaling about $3 million at 20% interest, secured on the subsidiaries' Louisiana oil leases and equipment. The first loan funded at $910,526 gross, $750,000 net, and Yorkville also received 550,000 warrants and 94,899 shares.
17 Dec 2007capital raising announcement● Neutral
A warrant holder exercised 544,000 warrants at a reduced $1.00 strike price, adding $544,000 in cash.
6 Aug 2007capital raising announcement● Neutral
More Series B preferred stock converted into common shares.
18 July 2007capital raising announcement● Neutral
A consultant was issued a 1.5 million-share warrant as compensation.
5 July 2007capital raising announcement▲ GoodMajor
Hyperdynamics converted all of its 2006 Cornell Capital debt to equity, becoming debt-free, and a warrant-repricing incentive pulled in $5.25 million of cash exercises.
19 June 2007capital raising announcement● NeutralMajor
Bought 85% of the working interest in about 1,150 acres of Louisiana oil leases with roughly 20 active wells from Rabb Resources, which stays as operator and keeps 15%. Hyperdynamics paid $100,000 and 100,000 shares at closing but must pay a further $1,150,000 and 100,000 shares within 60 days or forfeit everything already paid and lose the deal, and it carries all working-interest costs until it has put in $4,000,000.
18 June 2007capital raising announcement▼ Bad
The company settled two lawsuits by issuing stock and warrants to the plaintiff rather than paying cash.
12 Apr 2007capital raising announcement● Neutral
Hyperdynamics extended and repriced roughly 3.5 million investor warrants (raising the strike from $2 to $4) to keep a future capital source open.
1 Dec 2006capital raising announcement● Neutral
A further small warrant exercise brought in $4,220.
7 Nov 2006capital raising announcement● Neutral
An investor exercised warrants for a token $25,000, part of the ongoing Cornell Capital financing.
28 Sept 2006material agreement▲ GoodMajor
Subsidiary SCS Corporation signed a Hydrocarbon Production Sharing Contract with the Republic of Guinea - the offshore exploration concession that would define the company for the next decade.
18 Aug 2006material agreement● Neutral
Hyperdynamics formalized a new employment contract for CEO and Chairman Kent Watts running through mid-2009, with standard severance terms.
23 June 2006capital raising announcement● Neutral
The company drew $1.8 million of a planned $6 million convertible-debenture financing from Cornell Capital Partners, its next source of dilutive capital.
6 Jan 2006listing compliance notice▼ Bad
HYPERDYNAMICS CORP withdrew a registration statement, abandoning the offering it covered.
18 Aug 2005capital raising announcement● Neutral
Hyperdynamics drew a first $909,000 from Dutchess Private Equities under a $20 million equity line, its earliest dilutive-financing arrangement.