Past year: ▼ 96%(1.00c – 38.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
17 Dec 2009capital raising announcement▲ Good
Recovery Energy issued Bel-Car Properties a warrant for 750,000 shares at $3.50 in exchange for a commitment to arrange up to $20 million in financing for future oil and gas purchases - a funding line to support the company's acquisition spree, not yet drawn.
9 Dec 2009asset acquisition disposition● NeutralMajor
Recovery Energy acquired working interests in wells and acreage at Wilkie Field, Nebraska, paying with 1.45 million shares of stock plus a $2.2 million promissory note due within two weeks - expanding its asset base but adding near-term debt.
2 Dec 2009capital raising announcement▲ Good
Recovery Energy raised $400,000 in a small private placement of stock at $4.00/share to fund its early oil and gas buildout.
13 Nov 2009asset acquisition disposition▲ GoodMajor
Recovery Energy made its first oil and gas acquisition, buying three producing wells in Colorado's Rush Willadel field for $750,000 cash plus stock, then immediately sold half the interest back to a third party for $750,000 cash, recovering most of its outlay.
30 Sept 2009auditor change● Neutral
This amendment repeats the September 2009 auditor switch: the shell-era company (then still named Universal Holdings) dismissed Webb & Co. on September 21, 2009 and appointed Jewett Schwartz Wolfe & Associates (JSWA). The filing reports no disagreements and no adverse or qualified opinions from Webb, and adds Webb's letter agreeing with the statements as an exhibit. It adds nothing new beyond that confirmation.
23 Sept 2009auditor change● Neutral
Following the reverse merger, the company dismissed its shell-era auditor Webb & Co. and engaged JSWA, with no disagreements reported - routine cleanup as it became an operating oil and gas company.
22 Sept 2009business combination● NeutralMajor
Universal Holdings, a dormant Nevada shell company, reverse-merged with oil and gas operator Coronado Acquisition and renamed itself Recovery Energy - the transaction that created the company later known as Lilis Energy.
