12 Apr 2013securities registration● Neutral
PEDEVCO CORP amended a filing by which it registered a securities offering with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
28 Mar 2013substantial holder notice● Neutral
Jamie Tseng filed a final Schedule 13D amendment, an exit filing, reporting 2,070,000 PEDEVCO shares (about 4.9%) held directly by him. His entity Uni-bright Technology Limited, which holds none, had gifted 1,000,000 shares to an unrelated party on March 18, 2013.
26 Mar 2013securities registration● Neutral
PEDEVCO CORP amended a filing by which it registered a securities offering with the SEC.
21 Mar 2013substantial holder notice● Neutral
Frank Ingriselli and Global Venture Investments amended their 13D, reporting that Ingriselli transferred 3,136,967 shares to Mary T. Ingriselli on March 11, 2013. He still beneficially owned 3,812,470 shares, about 8.9% of PEDEVCO.
8 Mar 2013substantial holder notice● Neutral
Mary T. Ingriselli disclosed a new substantial PEDEVCO CORP shareholding (7.50% of votes).
28 Feb 2013material agreement▲ GoodMajor
The renegotiated Berexco deal materialized: PEDEVCO's subsidiary agreed to buy about 6,763 net acres of Mississippian Lime interests in Kansas plus 3-D seismic data for $4.2 million, using the same $864,866 deposit from the terminated Condor transaction, with closing expected in March 2013 subject to financing.
19 Feb 2013debt financing▲ GoodMajor
PEDEVCO's subsidiary PEDCO secured a $5 million line of credit from JV partner MIE Jurassic Energy Corporation, at 10% interest and due by the end of 2013, to fund its share of costs on the Colorado Niobrara asset.
12 Feb 2013material agreement termination● NeutralMajor
PEDEVCO's Condor Energy Technology joint venture (with MIE Jurassic Energy Corporation) mutually terminated its ~$8.65 million deal to buy Mississippian Lime interests and seismic data from Berexco, with the $864,866 deposit held in escrow while PEDEVCO itself - rather than Condor - negotiates a replacement deal directly with Berexco.
5 Feb 2013securities registration● Neutral
PEDEVCO CORP amended a filing by which it registered a securities offering with the SEC.
22 Jan 2013financial restatement▼ Bad
Amended its January 15, 2013 8-K to show it was filed under Item 4.02, not 4.01. It covers two restatements of FY2011 financials: $87,668 of improperly deferred Eagle Ford costs plus $19,200 of intercompany profit, and a $69,667 investor-relations stock award expensed in full.
16 Jan 2013securities registration● Neutral
PEDEVCO CORP amended a filing by which it registered a securities offering with the SEC.
15 Jan 2013financial restatement▼ Bad
PEDEVCO disclosed that Pacific Energy Development's 2011 financials were restated twice. The first fixed $87,668 of improperly deferred Eagle Ford costs and a $19,200 Condor intercompany profit error. The second expensed a $69,667 stock award to investor relations consultants, raising the net loss to $763,677.
13 Dec 2012securities registration● Neutral
PEDEVCO CORP amended a filing by which it registered a securities offering with the SEC.
6 Dec 2012material agreement▲ GoodMajor
Condor Energy Technology -- PEDEVCO's joint venture with MIE Holdings' Jurassic Energy arm -- agreed to buy about 13,806 net acres of Mississippian Lime in Kansas and Oklahoma with 19.5 square miles of 3-D seismic for $8.65 million, putting down an $865,000 deposit. Separately, officers and directors holding 58% of the common stock signed a written consent approving a further reverse split of between 1-for-2 and 1-for-5.
27 Nov 2012capital raising announcement▲ GoodMajor
Paid off the Guijarral Hills lender (Centurion Credit Funding) for $200,000 plus conversions, retiring that expensive debt; separately deferred a $1 million cash payment owed to its DJ Basin/Niobrara sellers (Esenjay Oil & Gas, Winn Exploration, Lacy Properties and Crain Energy) to February 2013 in exchange for $100,000 now plus preferred stock.
23 Nov 2012quarterly activities report▼ Bad
PEDEVCO filed an amended 10-Q for the quarter ended September 30, 2012, adding pro forma merger information and correcting MD&A amounts. It still showed a quarterly net loss of about $8.3 million.
19 Nov 2012quarterly activities report▼ Bad
PEDEVCO reported a net loss of about $8.3 million for the quarter ended September 30, 2012, driven by a $6.8 million goodwill impairment. The nine-month net loss was about $9.3 million.
14 Nov 2012late filing notice▼ Bad
PEDEVCO CORP notified the SEC that its quarterly report would be filed late.
10 Oct 2012securities registration● Neutral
PEDEVCO CORP registered a securities offering with the SEC.
9 Oct 2012auditor change● Neutral
PEDEVCO disclosed that, because the merger was a reverse acquisition, GBH CPAs became its successor accountant and SingerLewak the predecessor. GBH stayed on without interruption, and SingerLewak was dismissed as PEDCO's auditor for periods after June 30, 2012.
1 Oct 2012material agreement▲ GoodMajor
PEDEVCO signed a cooperation agreement with China's Guofa Zhonghai Energy Investment to jointly bid on shale gas exploration blocks in China's second national shale-gas tender, an international diversification bet alongside its US onshore E&P assets.
27 Sept 2012asset acquisition disposition▲ GoodMajor
PEDEVCO's 20%-owned Condor Energy Technology LLC closed its first real acreage acquisition, buying oil & gas leases covering about 3,582 net acres in Colorado's DJ Basin (Morgan and Weld Counties, targeting the Niobrara and other formations) from Esenjay Oil & Gas for $1.1 million cash plus preferred stock.
27 Sept 2012securities registration● Neutral
PEDEVCO CORP filed notice of an exempt private placement.
17 Sept 2012business combination▲ GoodMajor
The PEDCO reverse merger and rename from Blast Energy Services to PEDEVCO Corp formally closed July 27, 2012, and the stock's ticker changed from BESV to PEDO - completing the company's transformation into an oil & gas exploration company.
6 Sept 2012material agreement● Neutral
PEDEVCO signed a Third Amendment with Centurion Credit Funding extending its senior secured notes' maturity from August 1 to November 30, 2012. It also agreed to deposit $700,000 as security and the lender's once-per-30-days conversion limit was removed.
24 Aug 2012quarterly activities report▼ Bad
PEDEVCO filed Amendment No. 1 to its June 2012 10-Q solely to add XBRL interactive data files. It did not change or update any of the original disclosures.
14 Aug 2012quarterly activities report▼ Bad
PEDEVCO reported a net loss of about $289 thousand for the quarter ended June 30, 2012, on revenues of $108 thousand. These results cover only the pre-merger Blast Energy business, as the PEDCO merger closed on July 27, 2012.
8 Aug 2012business combination● NeutralMajor
The completed reverse merger into Pacific Energy Development, re-reported with the target's audited accounts: PEDCO's holders received 17.9 million common and 19.7 million Series A preferred shares plus warrants and options, the old preferred converted to common, the stock was consolidated 1-for-112, and Blast Energy Services became PEDEVCO Corp. A services company that had gone bankrupt on drilling rigs was now an oil and gas producer.
7 Aug 2012substantial holder notice● Neutral
Jamie Tseng, Uni-bright Technology Limited disclosed a new substantial PEDEVCO CORP shareholding (15.50% of votes).
6 Aug 2012substantial holder notice● Neutral
Frank C. Ingriselli, Global Venture Investments LLC disclosed a new substantial PEDEVCO CORP shareholding (32.60% of votes).