Past year: ▲ 0%(0.01c – 0.02c USD)
Each one in plain English, with the numbers worked through for a shareholder.
14 Jan 2005material agreement termination● Neutral
Schlumberger gave notice on January 7, 2005 ending the Joint Value Enhancement Agreement (dated December 3, 2003) with Infinity and Red Oak Capital Management, and Infinity and Red Oak accepted the termination on January 13. Infinity also called $2,493,000 of its 8% Subordinated Convertible Notes due 2006 for redemption on February 28, 2005 at 103.2% of principal plus interest, the redemption flagged in the same-day financing.
14 Jan 2005capital raising announcement● NeutralMajor
On January 13, 2005 Infinity sold $30 million of senior secured notes due January 2009 (interest at 3-month LIBOR plus 6.75%) with warrants for 924,194 shares at $9.09 and 732,046 shares at $11.06. It used part of the money to repay and end its LaSalle Bank and U.S. Bank credit facilities and will redeem its 8% Subordinated Convertible Notes due 2006; it may sell up to $45 million more notes later, and the notes are secured by substantially all company assets, replacing the earlier bank debt and adding possible dilution via warrants.
16 Nov 2004capital raising announcement▲ Good
This is a second copy of the same November 2004 filing: 1,027,000 new shares sold at $5.10 (about $4.9 million net), the $1.75 million Bridge Loan balance accelerated and due, and third-quarter 2004 net income of $3.1 million. It adds no new information beyond the previous event.
16 Nov 2004capital raising announcement▲ GoodMajor
Infinity sold 1,027,000 new shares at $5.10 each to institutional investors on November 12, 2004, raising about $4.9 million net. This triggered repayment of the $1.75 million still owed on its $3 million Bridge Loan from Irving Strickstein (dated November 21, 2002), and the filing also reports third-quarter 2004 net income of $3.1 million versus a $4.5 million loss a year earlier, helped by a $2.8 million gain from a partial sale of assets by its oilfield services unit.
21 Jan 2004capital raising announcement● NeutralMajor
On January 16, 2004 Infinity sold one million new shares at $4.00 each in a private placement to clients of a Boston-based investment adviser, bringing shares outstanding to 9,310,546. Management says most of the money is for development drilling at its Labarge and Pipeline projects, with the rest for general purposes including debt reduction; existing shareholders are diluted by the new shares.
29 Jan 2002auditor change● Neutral
The company, filing as Infinity, Inc. (the same registrant as American Noble Gas), dismissed its auditor Sartain Fischbein & Co. and hired Ehrhardt, Keefe, Steiner & Hottman, P.C. on January 24, 2002, to audit the transition period ended December 31, 2001. The filing says the old auditor's reports for fiscal 2001 and 2000 had no adverse or qualified opinion and there were no disagreements.
