Past year: ▼ 96%(1.00c – 38.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
18 June 2010capital raising announcement● Neutral
Recovery Energy hired investor-relations firm MDC Group and PR firm Globe Media, paying both partly in stock and warrants, formalized registration rights for Hexagon Investments' shares, and split the CEO and President roles in its bylaws.
16 June 2010director interest notice● Neutral
Timothy N Poster became a LILIS ENERGY, INC. director and company insider (initial ownership filing).
15 June 2010director interest notice● Neutral
Conway J. Schatz became a LILIS ENERGY, INC. director and company insider (initial ownership filing).
11 June 2010director interest notice● Neutral
Roger A Parker became a LILIS ENERGY, INC. Chief Executive Officer and company insider (initial ownership filing).
11 June 2010director interest notice● Neutral
LILIS ENERGY, INC. President & CFO Jeffrey A. Beunier received 1,635,800 shares as part of the equity award.
11 June 2010director interest notice● Neutral
LILIS ENERGY, INC. Chief Executive Officer Roger A Parker received 1,000,000 shares as part of the equity award.
7 June 2010securities registration● Neutral
LILIS ENERGY, INC. filed notice of an exempt private placement.
4 June 2010asset acquisition disposition▲ GoodMajor
Recovery Energy closed the $20 million Davis/Spottie land deal and funded it with a $23.85 million institutional private placement (T.R. Winston as placement agent) - its largest capital raise yet. It also used the proceeds leverage to push out the maturity on its two Hexagon Investments loans from December 2010 to December 2011, defusing the refinancing crunch those loans had been building toward, in exchange for more warrants to Hexagon.
2 June 2010substantial holder notice● Neutral
Edward Mike Davis reported a LILIS ENERGY, INC. shareholding of 6,500,000 shares (18.10% of votes) in a periodic institutional filing.
28 May 2010substantial holder notice● Neutral
Edward Mike Davis reported a LILIS ENERGY, INC. shareholding of 6,500,000 shares (30.30% of votes) in a periodic institutional filing.
20 May 2010debt financing● NeutralMajor
Recovery Energy agreed to buy roughly 60,000 acres of Nebraska/Wyoming oil and gas interests from Edward Mike Davis LLC and Spottie Inc for $20 million plus 2-3 million shares, under a tight closing deadline that escalated the share payment if the company couldn't fund the cash on time.
18 May 2010late filing notice▼ Bad
LILIS ENERGY, INC. notified the SEC that its quarterly report would be filed late.
12 May 2010asset acquisition disposition● Neutral
Recovery Energy sold its two drilling rigs for $700,000 (mostly a promissory note) to Resource Energy, a company affiliated with Matthew Jennings, who along with his affiliates already held about 12.2% of Recovery Energy's stock - exiting the drilling-services side of the business it had floated at its 2009 founding to focus on its own wells.
12 May 2010substantial holder notice● Neutral
Edward Mike Davis disclosed a new substantial LILIS ENERGY, INC. shareholding (15.20% of votes).
12 May 2010substantial holder notice● Neutral
Edward Mike Davis reported a LILIS ENERGY, INC. shareholding of 4,500,000 shares (23.60% of votes) in a periodic institutional filing.
11 May 2010director interest notice● Neutral
Edward Mike Davis became a LILIS ENERGY, INC. 10%+ owner and company insider (initial ownership filing).
4 May 2010capital raising announcement● Neutral
Recovery Energy hired C.K. Cooper & Company as a financial advisor for $125,000 cash plus about 31,000 shares of stock.
30 Apr 2010capital raising announcement▼ Bad
Recovery Energy raised $250,000 selling stock at just $0.75/share - a steep drop from the $2.25-$4.00 prices of its recent raises, signaling weakening investor demand for its shares.
26 Apr 2010substantial holder notice● Neutral
Hexagon Investments, LLC reported a LILIS ENERGY, INC. shareholding of 7,000,000 shares (33.20% of votes) in a periodic institutional filing.
20 Apr 2010capital raising announcement▼ BadMajor
Recovery Energy bought six more Wyoming wells and 1,240 acres for $15 million cash plus stock, again from Edward Mike Davis LLC (now a 23.5% shareholder), financed by a third Hexagon Investments loan at 15% interest also maturing December 1, 2010. Hexagon's stake, built entirely from financing-related share and warrant grants, reached 26.2% - stacking three high-rate secured loans onto the same December 2010 maturity wall while ownership concentrates in the lender and asset seller.
14 Apr 2010director interest notice● Neutral
Hexagon Investments, LLC became a LILIS ENERGY, INC. 10%+ owner and company insider (initial ownership filing).
14 Apr 2010substantial holder notice● Neutral
Hexagon Investments, LLC disclosed a new substantial LILIS ENERGY, INC. shareholding (13.10% of votes).
31 Mar 2010late filing notice▼ Bad
LILIS ENERGY, INC. notified the SEC that its annual report would be filed late.
25 Mar 2010capital raising announcement● NeutralMajor
Recovery Energy bought four producing wells and 15,900 acres in the Nebraska/Wyoming DJ Basin for $6 million cash plus stock from Edward Mike Davis LLC, now a 14.9% shareholder, financing the cash portion with another Hexagon Investments loan at 15% interest maturing December 2010. Hexagon's stake grew to 13.1% of the company from shares issued alongside its loans.
12 Mar 2010capital raising announcement● Neutral
Recovery Energy raised another $100,000 in a small private stock placement at $2.25/share.
4 Mar 2010debt financing● NeutralMajor
Recovery Energy borrowed $4.5 million from Hexagon Investments at 15% interest, maturing December 2010 and secured by mortgages on its Wilkie field wells, to fund a property repurchase - and paid Hexagon 1 million shares of stock on top. This is the start of a high-cost secured lending relationship, not a change to shareholder rights as classified.
21 Jan 2010capital raising announcement● Neutral
Recovery Energy unwound its Rush Willadel field structure - buying back the 250,000 shares it had issued to the original seller for $750,000 cash, while chairman Roger Parker personally bought the company's remaining 50% interest in those wells for $750,000. The company also raised a further $200,000 selling stock and changed auditors again.
What it means for a shareholder
250,000 new shares at about $0.800 to raise about $200,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
12 Jan 2010director interest notice● Neutral
Roger A Parker became a LILIS ENERGY, INC. director and company insider (initial ownership filing).
12 Jan 2010director interest notice● Neutral
LILIS ENERGY, INC. director Roger A Parker received 1,000,000 shares as part of the equity award.
12 Jan 2010director interest notice● Neutral
LILIS ENERGY, INC. President & CEO Jeffrey A. Beunier received 464,200 shares as part of the equity award.
