Past year: ▲ 0%(0.01c – 0.01c USD)
Each one in plain English, with the numbers worked through for a shareholder.
14 Dec 2012capital raising announcement● Neutral
On December 14, 2012 the company sold 2,000,000 shares at $0.10 each, raising $200,000, to one U.S. person who is a director and officer. The filing does not name the buyer or say what the money is for. It adds shares and dilutes existing holders.
14 Dec 2012director interest notice● Neutral
ARKANOVA ENERGY CORP. President, CEO, Secretary Pierre Georges Mulacek bought 2,000,000 shares on the open market at $0.10.
14 Aug 2012quarterly activities report▼ Bad
ARKANOVA ENERGY CORP. reported quarterly revenue of $214 thousand and a net loss of $260 thousand for the period ended 2012-06-30.
13 Aug 2012debt financing● NeutralMajor
Effective July 1, 2012 (signed August 6), Aton Select Funds agreed to lend a further $1,000,000 and roll the 2011 note plus $315,000 of accrued interest into a new $8,315,000 note at 6%, now due June 30, 2013. It is still secured by the pledge of the Provident interest and guaranteed by Arkanova, with interest payable in shares after maturity ($498,900 divided by a 15-business-day average price). This continues the Aton borrowing from the October 2011 note and pushes maturity out from September 30, 2012; the company expected to receive the new money by the end of August 2012.
16 May 2012quarterly activities report▼ Bad
ARKANOVA ENERGY CORP. reported quarterly revenue of $260 thousand and a net loss of $506 thousand for the period ended 2012-03-31.
15 May 2012late filing notice▼ Bad
ARKANOVA ENERGY CORP. notified the SEC that its quarterly report would be filed late.
14 Feb 2012quarterly activities report● Neutral
ARKANOVA ENERGY CORP. reported quarterly revenue of $274 thousand and net income of $5.3 million for the period ended 2011-12-31.
14 Nov 2011substantial holder notice● Neutral
Aton Select Fund Limited reported a ARKANOVA ENERGY CORP. shareholding of 3,204,748 shares (6.90% of votes) in a periodic institutional filing.
3 Nov 2011debt financing● NeutralMajor
Effective October 1, 2011 (agreement October 21), Aton Select Funds agreed to convert $6,000,000 of the principal on the October 2009 note into a 10% working interest in the Montana unit and lent a further $1,000,000. The remaining balance and new loan were consolidated into a new $7,000,000 note at 6%, due September 30, 2012, secured by the pledge of the Provident interest and now guaranteed by Arkanova. Interest is payable in shares after maturity, based on $420,000 divided by a 15-day average price. This cuts debt but hands Aton a 10% stake in the Montana unit; the maturity is again extended, from the original September 2011.
15 Aug 2011quarterly activities report● Neutral
ARKANOVA ENERGY CORP. reported quarterly revenue of $363 thousand and net income of $405 thousand for the period ended 2011-06-30.
16 May 2011quarterly activities report▼ Bad
ARKANOVA ENERGY CORP. reported quarterly revenue of $391 thousand and a net loss of $723 thousand for the period ended 2011-03-31.
14 Feb 2011quarterly activities report▼ Bad
ARKANOVA ENERGY CORP. reported quarterly revenue of $265 thousand and a net loss of $1.5 million for the period ended 2010-12-31.
29 Dec 2010late filing notice▼ Bad
ARKANOVA ENERGY CORP. notified the SEC that its annual report would be filed late.
7 Dec 2010substantial holder notice● Neutral
Aton Select Fund Limited disclosed a new substantial ARKANOVA ENERGY CORP. shareholding (8.10% of votes).
26 Nov 2010material agreement● NeutralMajor
On November 22, 2010 Provident granted Knightwall Invest an option, running to March 31, 2011, to buy an additional 5% working interest in the Montana unit for $1.5 million. Knightwall paid a $100,000 non-refundable deposit that does not count toward the price. Knightwall now holds a 30% interest in the unit, so the April 2010 sale appears to have closed (inference from the filing's statement that it holds 30%). If exercised, the company would give up more of the Montana asset.
27 Oct 2010capital raising announcement▼ Bad
An employee exercised 75,000 options at $0.25 on October 22, 2010, raising $18,750. On October 26, 2010 the company also issued 3,512,199 shares to Aton Select Funds Limited; the filing gives no price or reason. (Inference: this may relate to the share-based interest owed under the Aton loan terms, but the filing does not say.) It adds shares and dilutes existing holders.
14 Oct 2010capital raising announcement● Neutral
On October 8, 2010 the company granted 1,725,000 stock options at $0.25 per share, expiring October 8, 2015: 650,000 to CEO Pierre Mulacek, 550,000 to CFO Reginald Denny, 300,000 to director Erich Hofer, and 225,000 to two non-insider employees. It is the second yearly grant of options, which could dilute shareholders if exercised.
16 Aug 2010quarterly activities report▼ Bad
ARKANOVA ENERGY CORP. reported quarterly revenue of $258 thousand and a net loss of $841 thousand for the period ended 2010-06-30.
26 May 2010drilling progress report● Neutral
On May 24, 2010 the company announced that Lance Nelson, hired February 8, 2010, is Field Manager for the Montana unit, overseeing a reactivation and infield drilling program supported by Schlumberger Data and Consulting Services. Reactivating and recompleting eight wells and a production battery is expected to finish around August 2010. The Tribal Max 1-2817 vertical well is targeted to spud this summer to about 6,000 feet, with a horizontal Tribal Max 2-2818 Bakken well to follow if the shows are successful. This continues the Montana development plan outlined in the Knightwall sale; these are plans, not results, and the filing flags financing as a risk.
12 Apr 2010material agreement● NeutralMajor
On April 9, 2010 the Montana subsidiary Provident agreed to sell 30% of the Two Medicine Cut Bank Sand Unit leasehold interests to Knightwall Invest, Inc. for $7,000,000, paid in installments ($1,500,000 received April 9; $2,000,000 on June 8; $2,000,000 on July 8; $1,500,000 at closing on August 6, 2010). The company says there is no assurance closing will occur. Knightwall is also a lender, with a $330,000 loan (10%) that will be renewed and repaid from the July payment. Proceeds are to fund a Bakken test well (Tribal-Max 1-2817), more horizontal wells, reactivation of tank battery 29 and eight wells, and fracs on three producing wells. This gives up part of the Montana asset to raise money for its development.
3 Dec 2009capital raising announcement● Neutral
On December 2, 2009 CEO Pierre Mulacek exercised options for 300,000 shares and CFO Reginald Denny exercised options for 150,000 shares, both at $0.10 per share, raising $30,000 and $15,000. The company issued the new shares to them, adding a small amount of cash and shares.
What it means for a shareholder
150,000 new shares at US$0.100 to raise about US$15,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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30 Oct 2009director interest notice● Neutral
ARKANOVA ENERGY CORP. Chief Financial Officer Reginald Denny bought 5,000 shares on the open market at $0.50.
30 Oct 2009director interest notice● Neutral
ARKANOVA ENERGY CORP. Chief Financial Officer Reginald Denny bought 5,000 shares on the open market at $0.50.
19 Oct 2009capital raising announcement● Neutral
On October 14, 2009 the company granted 1,500,000 stock options at $0.20 per share, expiring October 14, 2014, to five people. Of these, 600,000 went to CEO Pierre Mulacek, 350,000 to CFO Reginald Denny, 300,000 to director Erich Hofer, and 250,000 to two non-insider employees. It brings in no money now and could dilute shareholders if exercised.
7 Oct 2009debt financing▼ BadMajor
Effective October 1, 2009 the subsidiary consolidated its Aton Select Funds loans into one $12,000,000 note, replacing the $9,000,000, $600,000 and $412,500 notes in exchange for a further $1,168,729.17 loan. The new note carries 6% interest, is due September 30, 2011, and is secured by a pledge of the subsidiary's interest in Provident, owner of the Montana oil and gas assets. Interest is paid in shares after maturity, based on $720,000 divided by a 15-day average price. Aton also received 821,918 shares for half of the unpaid interest, 900,000 shares for the original $9,000,000 loan, and will receive shares worth $240,000 on the first anniversary. This pushes out the maturity but adds share dilution; the Aton lender is the same party as in the April 2009 note, while the earlier 'unaffiliated lender' for the $9 million note is now named as Aton.
14 Aug 2009late filing notice▼ Bad
ARKANOVA ENERGY CORP. notified the SEC that its quarterly report would be filed late.
15 May 2009late filing notice▼ Bad
ARKANOVA ENERGY CORP. notified the SEC that its quarterly report would be filed late.
13 May 2009debt financing▼ BadMajor
In April 2009 the company issued two 10% promissory notes: $330,000 to Global Project Finance AG (April 17, due on demand after April 17, 2010) and $600,000 to Aton Select Fund Limited (April 29, due on demand after April 29, 2010). Both may be secured on the Phillips and Monroe County, Arkansas leases, with 16% default interest. The Global note must be repaid from any financing of $5,000,000 or more before April 17, 2010. This adds more debt.
17 Feb 2009late filing notice▼ Bad
ARKANOVA ENERGY CORP. notified the SEC that its quarterly report would be filed late.
29 Dec 2008late filing notice▼ Bad
ARKANOVA ENERGY CORP. notified the SEC that its annual report would be filed late.
