Each one in plain English, with the numbers worked through for a shareholder.
4 June 2026asset acquisition disposition▼ BadMajor
Viking's remaining stake in Simson-Maxwell was converted away entirely: Simson amalgamated with majority owner T&T Power Group into a renamed combined company where T&T's owner holds 100% of the voting shares and Viking holds only non-voting, redeemable preferred stock (worth CDN$5.75-8.5 million depending on timing) with its claims subordinated to the company's bank lender - a full exit from any operating control of the power-generation business Viking built up starting in 2021.
Viking Ozone Technology borrowed another $500,000 (part of a note series that could grow to $750,000), still repayable from eventual VKIN-300 unit sale proceeds - suggesting that sale hadn't yet closed nearly a year after the unit shipped to France.
Viking's ozone-technology unit lined up a real buyer for its VKIN-300 waste-treatment unit in France - Swiss-based Box03 International, for just over $1 million - though the sale still hinges on the ultimate end user arranging its own financing.
Viking's 2021 carbon-capture technology license was updated to add Scuderi Group - the original patent holder that had licensed the technology to ESG Clean Energy in the first place - directly as a co-obligor, confirming the underlying 'bottoming cycle' power and carbon-capture patent portfolio behind the deal.
6 Aug 2025asset acquisition disposition▲ GoodMajor
Viking picked up a majority stake (51%, for just $100) in a new venture, Viking Distribution Solutions, built around patented ground-fault-prevention technology for electric distribution lines contributed by Milo Group - complementing the transmission-line version of the same technology Viking already owns through Viking Protection Systems.
A newly disclosed Viking subsidiary, Viking Ozone Technology, took a $500,000 bridge loan to bridge until it collects proceeds from selling its VKIN-300 waste-treatment unit shipped to France - a third, smaller diversification bet beyond Simson-Maxwell and the ESG Clean Energy carbon-capture license.
Camber disclosed another restatement - this time its three 2024 quarterly reports, after Simson-Maxwell (while still majority-owned) incorrectly recognized revenue on contract payment milestones that weren't real performance obligations, a non-cash but material misstatement.
Took on $1.2 million of Viking-level debt directly, issuing FK Venture LLC an unsecured convertible note (10% interest, convertible at $0.15/share, about 8 million shares) to restructure an existing Viking obligation -- routine post-merger debt consolidation.
Viking lost control of Simson-Maxwell: new investor T&T Power Group bought out Simson's other minority owners and subscribed for new shares, taking 51% and cutting Viking's stake from 60.5% to 49%. T&T also agreed to fund Simson's working capital and pay off its secured credit facility, but Camber must now deconsolidate Simson and account for it as a minority equity investment instead of a subsidiary.
Camber disclosed yet another restatement, now trading as 'CEIN' on the OTC Pink Market after its NYSE delisting: its FY2023 annual report and two 2023-2024 quarterly reports must be redone because it valued its own equity stake in Viking incorrectly at the moment the merger closed - a non-cash accounting fix, but the latest in a long run of accounting failures.
NYSE American suspended trading in Camber's stock and moved to delist it for failing minimum-price listing standards; shares began trading on the OTC Pink Market under the new symbol CEIN the next day, while Camber said it would appeal the delisting decision.
NYSE suspended trading in Camber's stock and moved to delist it entirely over its persistently low share price - the listing-compliance battle that had dragged on for years finally ended in defeat, with shares dropping to the OTC Pink Market the next day.
19 Mar 2024material agreement termination▼ BadMajor
Camber's ambitious plan to buy the Reno renewable-diesel plant collapsed for good: the company and RESC Renewables Holdings mutually terminated the purchase agreement, ending a deal that had once been valued as high as $750 million.
21 Feb 2024security holder rights change▲ GoodMajor
Now merged with Viking, Camber renegotiated its Series C preferred terms again: a $0.15 floor was set under the conversion-price formula (limiting further death-spiral-style dilution as the stock falls), the investor gave back a prior increase in its ownership cap, and Camber committed at least half of any future capital raised to paying down that investor's notes.
Camber filed the pro forma financial statements required after completing its merger with Viking Energy on August 1, 2023 - a routine follow-up filing confirming the deal closed as planned.
1 Aug 2023asset acquisition disposition● NeutralMajor
After three and a half years of on-again, off-again negotiations, the Camber-Viking merger finally closed: Viking became a wholly-owned Camber subsidiary, and Camber issued new shares equal to about 60% of its post-merger stock to former Viking holders, meaning Viking's own shareholders ended up with majority control of Camber.
NYSE accepted Camber's plan to fix its stockholders'-deficit problem - built around finally closing the Viking merger, commercializing Viking's technology licenses, and shrinking its Series C preferred stock - giving it until April 2024 to show progress.
The SEC declared the Camber-Viking merger registration statement effective; both companies scheduled shareholder votes for July 20, 2023, with closing expected around August 1, 2023.
The last amendment before effectiveness updated everything to 5 June 2023 and disclosed one new fact: FK Venture had put a further $800,000 convertible note into Viking on 5 June. Camber was carrying about $46.8 million of promissory notes at 3.25% maturing January 2027, and Viking was still being kept going by convertible funding from the same lender group.
The blanks were filled in: both special meetings got a record date of 22 May 2023 and the share counts became concrete -- 23,591,305 Camber common shares outstanding, plus 150 Series C and 5,272 Series G preferred, the preferred being what had diluted Camber's holders so heavily.
The amendment reworked what shareholders were actually being asked: the proposal tied to Camber's separate 26 April special meeting was dropped, the share-issuance proposal was recast from "exceeding 19.99%" to the NYSE American 20% threshold, and the earlier statement that the two companies were still "reviewing the treatment" of each other's debt was removed. The exchange ratio did not move; the ballot did.
Camber's two preferred-stock investors agreed to cancel their warrants to buy 50 million Camber shares (granted back in December 2021) in exchange for the right to redeem their remaining Series C preferred once their notes are repaid - removing a massive potential dilution overhang from the company's cap table.
Three years after first agreeing to merge, Camber registered the shares for a re-cut Viking deal on the simplest possible terms: one Camber share for each Viking share, with the combined company to trade on NYSE American as CEI. The 2020 version of this deal had been amended four times and never closed.
Camber and Viking signed a new Amended and Restated Merger Agreement (their third try): the same 1-for-1 common stock swap as before, but now also converting Viking's Series E preferred - tied to Viking's newer subsidiary Viking Protection Systems - into a new Camber Series H Preferred Stock. James Doris, already CEO of both companies, would again lead the combined business from Houston.
Camber's financial position deteriorated sharply: NYSE flagged it for a stockholders' deficit of $17.1 million (not just low equity, but negative net worth) after five straight years of losses, triggering the exchange's most serious equity-compliance thresholds all at once, with a plan due by mid-May 2023 and a compliance target of October 2024.
Camber and Viking announced they were resuming merger talks - their third attempt at combining since 2020 - after the prior agreement had again stalled.
The stalled Reno renewable-diesel deal came back to life in a totally different shape: instead of Viking arranging hundreds of millions in bond financing, Camber itself signed on to buy the plant for $750 million gross (about $499 million after assumed debt), paid via a seller-financed note rather than cash - still highly conditional, including on antitrust clearance and a right of first refusal held by Phillips 66.
Camber, through Viking, agreed to buy a package of roughly 169 producing oil wells (about 2,000 barrels a day, with an estimated $185 million reserve value) for $69 million - a real return to core oil and gas acquisitions alongside its power-generation and renewable-fuel bets, funded by up to 80% cash and the rest in new convertible preferred stock.
