31 Mar 2020late filing notice▼ Bad
Citadel Exploration, Inc. notified the SEC that its annual report would be filed late.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
19 Nov 2019quarterly activities report▼ Bad
Citadel Exploration, Inc. reported quarterly revenue of $28 thousand and a net loss of $1.1 million for the period ended 2019-09-30.
14 Nov 2019late filing notice▼ Bad
Citadel Exploration, Inc. notified the SEC that its quarterly report would be filed late.
19 Aug 2019quarterly activities report▼ Bad
Citadel Exploration, Inc. reported quarterly revenue of $75 thousand and a net loss of $721 thousand for the period ended 2019-06-30.
14 Aug 2019late filing notice▼ Bad
Citadel Exploration, Inc. notified the SEC that its quarterly report would be filed late.
20 May 2019quarterly activities report▼ Bad
Citadel Exploration, Inc. reported quarterly revenue of $176 thousand and a net loss of $500 thousand for the period ended 2019-03-31.
15 May 2019late filing notice▼ Bad
Citadel Exploration, Inc. notified the SEC that its quarterly report would be filed late.
1 Apr 2019late filing notice▼ Bad
Citadel Exploration, Inc. notified the SEC that its annual report would be filed late.
4 Feb 2019capital raising announcement▼ Bad
On January 29, 2019 the company issued 3,956,147 common shares at $0.20 to Series A preferred holders as payment of 2018 interest, bringing common shares outstanding to 48,956,147. This follows the same practice for 2017 interest and dilutes common holders.
What it means for a shareholder
4.0m new shares at $0.200 to raise about $791,229. That's 8.1% dilution: every existing holder's slice gets 8.1% smaller. If you held $1,000 of shares (5,000 at the issue price), your slice goes from 0.0111% to 0.0102% of the company. To keep it you'd need 440 more shares - about $88 at the issue price.
Create a free account to see this worked out for your own holding.
14 Nov 2018quarterly activities report▼ Bad
Citadel Exploration, Inc. reported quarterly revenue of $321 thousand and a net loss of $424 thousand for the period ended 2018-09-30.
27 Sept 2018capital raising announcement● Neutral
On September 21, 2018 the company drew a further $500,000 (Tranche B) on its $3,000,000 senior secured facility, bringing the funded total to $2,250,000. It issued 250,000 warrants, on the same terms as the March 2018 Tranche A.
13 Aug 2018quarterly activities report▼ Bad
Citadel Exploration, Inc. reported quarterly revenue of $384 thousand and a net loss of $387 thousand for the period ended 2018-06-30.
21 May 2018quarterly activities report▼ Bad
Citadel Exploration, Inc. reported quarterly revenue of $213 thousand and a net loss of $552 thousand for the period ended 2018-03-31.
15 May 2018late filing notice▼ Bad
Citadel Exploration, Inc. notified the SEC that its quarterly report would be filed late.
16 Apr 2018auditor change● Neutral
On April 13, 2018 the company dismissed Anton & Chia, LLP, the auditor it hired in 2015, and hired Malone Baily, LLP of Houston. The filing says prior reports had no adverse opinion or disagreements, apart from a going-concern uncertainty paragraph.
2 Apr 2018late filing notice▼ Bad
Citadel Exploration, Inc. notified the SEC that its annual report would be filed late.
21 Mar 2018capital raising announcement● NeutralMajor
On March 16, 2018 the company closed a $3,000,000 senior secured debt facility with a one-year term and 10% interest, of which $1,750,000 (Tranche A) was funded, with 875,000 five-year warrants at $0.10. Further draws are at the lender's discretion. The filing says it retired the earlier bridge loan and is the only debt currently owed, resolving that open thread. It also signed a joint venture to fund two development wells: the partner funds 100% of the working interest and gets 90% of oil sales until payout plus an 18% return on capital, after which production reverts to the company 80/20.
15 Feb 2018capital raising announcement● Neutral
On February 15, 2018 the company sold 1,250 more Series A preferred shares for $25,000, bringing Series A to 395,615 shares convertible into 39,561,500 common shares. It also issued 550,262 common shares at $0.20 to vendors for 2017 services, bringing common shares outstanding to 45,000,000.
3 Jan 2018capital raising announcement▼ BadMajor
On December 29, 2017 the company sold 12,500 Series A convertible preferred shares for $250,000 cash. Each is convertible into 100 common shares at $0.20, and 394,365 Series A shares are now outstanding, convertible into 39,436,500 common shares. It also issued 3,101,736 common shares at $0.20 to Series A holders as 2017 interest, leaving 44,449,738 common shares outstanding. Conversion of the preferred would add substantially to the share count (inference: significant future dilution).
13 Nov 2017quarterly activities report▼ Bad
Citadel Exploration, Inc. reported quarterly revenue of $47 thousand and a net loss of $520 thousand for the period ended 2017-09-30.
9 Aug 2017quarterly activities report▼ Bad
Citadel Exploration, Inc. reported quarterly revenue of $50 thousand and a net loss of $649 thousand for the period ended 2017-06-30.
12 May 2017quarterly activities report▼ Bad
Citadel Exploration, Inc. reported quarterly revenue of $37 thousand and a net loss of $328 thousand for the period ended 2017-03-31.
14 Feb 2017substantial holder notice● Neutral
Bard Associates, Inc disclosed a new substantial Citadel Exploration, Inc. shareholding (4.50% of votes).
14 Feb 2017substantial holder notice● Neutral
Bard Associates, Inc disclosed a new substantial Citadel Exploration, Inc. shareholding (4.50% of votes).
14 Nov 2016quarterly activities report▼ Bad
Citadel Exploration, Inc. reported quarterly revenue of $24 thousand and a net loss of $571 thousand for the period ended 2016-09-30.
15 Aug 2016quarterly activities report▼ Bad
Citadel Exploration, Inc. reported quarterly revenue of $6 thousand and a net loss of $322 thousand for the period ended 2016-06-30.
16 May 2016quarterly activities report▼ Bad
Citadel Exploration, Inc. reported quarterly revenue of $21 thousand and a net loss of $434 thousand for the period ended 2016-03-31.
30 Mar 2016late filing notice▼ Bad
Citadel Exploration, Inc. notified the SEC that its annual report would be filed late.
1 Feb 2016substantial holder notice● Neutral
Bard Associates, Inc disclosed a new substantial Citadel Exploration, Inc. shareholding (5.00% of votes).
16 Nov 2015quarterly activities report▼ Bad
Citadel Exploration, Inc. reported quarterly revenue of $20 thousand and a net loss of $2.0 million for the period ended 2015-09-30.