14 Nov 2023quarterly activities report▼ Bad
AMERICAN NOBLE GAS, INC. reported quarterly revenue of $22 thousand and a net loss of $259 thousand for the period ended 2023-09-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Nov 2023material agreement● NeutralMajor
On October 17, 2023 the company agreed with M3 Helium Corp. to hand over its 40% participation (acquired April 4, 2022) in a Farmout Agreement with Scout Energy Partners covering the Hugoton Gas Field in Haskell and Finney Counties, Kansas, including the Peyton 21-1 well drilled and completed in June 2022. M3 takes on the related obligations and receivables and pays the company $75,000 cash, and the November 9, 2021 USNG Agreement is terminated. This is a sale of an asset the company had added in 2022 and ends the USNG agreement noted in earlier context. The filing does not say why.
11 Aug 2023quarterly activities report▼ Bad
AMERICAN NOBLE GAS, INC. reported quarterly revenue of $4 thousand and a net loss of $263 thousand for the period ended 2023-06-30.
2 Aug 2023director interest notice● Neutral
AMERICAN NOBLE GAS, INC. director Stanton E Ross received a stock option grant for 2,000,000 shares.
2 Aug 2023director interest notice● Neutral
AMERICAN NOBLE GAS, INC. director Daniel F Hutchins received a stock option grant for 500,000 shares.
2 Aug 2023director interest notice● Neutral
AMERICAN NOBLE GAS, INC. director American Noble Gas, INC. received a stock option grant for 2,000,000 shares.
2 Aug 2023director interest notice● Neutral
AMERICAN NOBLE GAS, INC. CEO & CFO American Noble Gas, INC. received a stock option grant for 4,000,000 shares.
2 Aug 2023director interest notice● Neutral
AMERICAN NOBLE GAS, INC. director Leroy C Richie received a stock option grant for 500,000 shares.
2 Aug 2023director interest notice● Neutral
AMERICAN NOBLE GAS, INC. CEO & CFO Thomas J Heckman received a stock option grant for 4,000,000 shares.
15 May 2023late filing notice▼ Bad
AMERICAN NOBLE GAS, INC. notified the SEC that its quarterly report would be filed late.
9 May 2023director interest notice● Neutral
Thomas J Heckman became a AMERICAN NOBLE GAS, INC. CEO & CFO and company insider (initial ownership filing).
31 Mar 2023late filing notice▼ Bad
AMERICAN NOBLE GAS, INC. notified the SEC that its annual report would be filed late.
13 Jan 2023material agreement▼ BadMajor
On January 10, 2023 the company and the investors agreed to push the maturity of the two earlier convertible notes (the October 30, 2021 note and the May 13, 2022 note) out to September 30, 2023. In return the conversion price on both was cut to $0.10 (from $0.50 and $0.40 respectively), so the notes would convert into more shares if converted. This resolves the near-term repayment deadlines flagged earlier by delaying them, but it means greater potential dilution for shareholders. The filing does not mention the June 2022 $350,000 note.
17 Nov 2022quarterly activities report▼ Bad
AMERICAN NOBLE GAS, INC. reported quarterly revenue of $43 thousand and a net loss of $339 thousand for the period ended 2022-09-30.
15 Nov 2022late filing notice▼ Bad
AMERICAN NOBLE GAS, INC. notified the SEC that its quarterly report would be filed late.
12 Aug 2022quarterly activities report▼ Bad
AMERICAN NOBLE GAS, INC. reported quarterly revenue of $44 thousand and a net loss of $741 thousand for the period ended 2022-06-30.
14 June 2022capital raising announcement● NeutralMajor
On June 8, 2022 the company sold one accredited investor a $350,000 8% senior unsecured convertible note due September 15, 2022, convertible into 700,000 shares at $0.50, plus a warrant for up to 700,000 shares, for $350,000. The company may repay the note early at 100% of principal plus accrued interest (unlike the 120% repayment terms on the earlier May 2022 and Nov 2021 notes), and the investor gets registration rights. This continues the pattern of short-dated convertible note financing; the filing does not say how the note will be repaid.
14 June 2022securities registration● Neutral
AMERICAN NOBLE GAS, INC. filed notice of an exempt private placement.
20 May 2022director interest notice● Neutral
AMERICAN NOBLE GAS, INC. CFO, Treasurer & Secretary Daniel F Hutchins received 100,000 shares as part of the equity award.
20 May 2022director interest notice● Neutral
AMERICAN NOBLE GAS, INC. Chairman, CEO & President Stanton E Ross received 500,000 shares as part of the equity award.
20 May 2022director interest notice● Neutral
AMERICAN NOBLE GAS, INC. director Leroy C Richie received 100,000 shares as part of the equity award.
20 May 2022substantial holder notice● Neutral
Thomas J. Heckman reported a AMERICAN NOBLE GAS, INC. shareholding of 2,500,000 shares (12.60% of votes) in a periodic institutional filing.
20 May 2022securities registration● Neutral
AMERICAN NOBLE GAS, INC. filed notice of an exempt private placement.
19 May 2022capital raising announcement● NeutralMajor
On May 13, 2022 the company sold two investors $850,000 of 8% senior unsecured convertible notes due June 29, 2022 (convertible into 2,125,000 shares at $0.40) and issued 425,000 commitment shares. On May 3, 2022 it agreed to buy 60.7143% (17 of 28 interests) of GMDOC, LLC for $4,037,500: $850,000 cash paid ($50,000 on May 3 and $800,000 on May 16) and $3,187,500 financed by a $6,045,000 GMDOC bank loan from The Western State Bank. GMDOC holds 70% of the working interests in leases of about 10,000 acres in Southern Kansas, producing about 100 barrels of oil and 1.5 million cubic feet of gas per day gross, bought from Castelli Energy, L.L.C. This adds a producing interest alongside the Central Kansas assets. The notes mature within weeks, and the filing does not say how they will be repaid.
10 May 2022quarterly activities report▼ Bad
AMERICAN NOBLE GAS, INC. reported quarterly revenue of $25 thousand and a net loss of $555 thousand for the period ended 2022-03-31.
8 Apr 2022securities registration● Neutral
AMERICAN NOBLE GAS, INC. amended an already-effective registration statement.
31 Mar 2022late filing notice▼ Bad
AMERICAN NOBLE GAS, INC. notified the SEC that its annual report would be filed late.
13 Dec 2021business combination● Neutral
On December 7, 2021 the company merged into its wholly owned Nevada subsidiary to move its incorporation from Delaware to Nevada. Each common share, Series A preferred share, option and warrant converted one-for-one on the same terms, the officers and directors stayed the same, and the stock continues on OTCQB as IFNY. Shareholder rights now fall under Nevada law, which differs in some ways; this changes legal home, not ownership or the business.
12 Nov 2021capital raising announcement● NeutralMajor
On November 9, 2021 the company signed a consulting deal with U.S. Noble Gas, LLC to explore for helium, other noble gases and rare earth minerals on its roughly 11,000-acre Kansas properties, and set up a four-member advisory board. It will issue 3,200,000 warrants at $0.50 (2,000,000 to USNG consultants, 1,200,000 to advisors) and pay USNG $8,000 per month once noble gas or mineral sales exceed $25,000 a month. The company's press release says testing so far is positive but not conclusive; no reserves are established. This adds a helium focus to the Kansas oil assets and more dilution.
12 Nov 2021quarterly activities report▼ Bad
AMERICAN NOBLE GAS, INC. reported quarterly revenue of $35 thousand and a net loss of $518 thousand for the period ended 2021-09-30.