14 Jan 2025asset acquisition disposition● Neutral
CoJax filed a similar compliance amendment for the August 2024 Liberty Operating acquisition, adding the required financial statements that were missing from the original report.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Sept 2024capital raising announcement▲ GoodMajor
CoJax bought more Mississippi mineral and oil and gas interests from Liberty Operating, this time paying about 2.21 million shares.
19 Aug 2024asset acquisition disposition● Neutral
CoJax filed an amendment to its Liberty Operating acquisition report, adding the required financial statements and an adjusted share valuation that had been omitted from the original filing.
6 June 2024capital raising announcement▲ GoodMajor
CoJax struck a similar deal with a new counterparty, Liberty Operating, issuing about 1.32 million shares for Mississippi mineral and oil and gas interests assigned into Barrister.
10 Jan 2024auditor change▼ Bad
CoJax dismissed Sadler, Gibb & Associates as auditor (going-concern doubt still noted, no disagreements) and engaged M&K CPAS.
9 Dec 2022capital raising announcement▲ GoodMajor
A second deal with Taxodium Energy added more wells, facilities and property interests to Barrister, paid for with another 1.5 million shares.
14 Nov 2022capital raising announcement▲ GoodMajor
CoJax issued 1.6 million shares (about $3.4 million worth) to Taxodium Energy, a new counterparty, in exchange for mineral and royalty interests in Mississippi and Alabama properties assigned into its Barrister subsidiary.
30 Sept 2022auditor change▼ Bad
CoJax dismissed auditor Haynie & Company (auditor since 2019, going-concern doubt flagged in recent years) and engaged Sadler, Gibb & Associates.
12 May 2022financial restatement▼ BadMajor
CoJax had to restate its 2020 and 2021 financials after concluding the Barrister acquisition - which had given Barrister's members voting control of the company - should have been accounted for as a common-control transaction rather than a normal business combination, cutting the reported value of its oil and gas properties from $10 million to $2.7 million (with an equal reduction to stockholders' equity, though no effect on net loss).
22 Nov 2021capital raising announcement▲ GoodMajor
CoJax eliminated the $2.7 million Barrister acquisition debt entirely, exchanging it for 1.35 million shares at $2.00/share with lender Central Operating, which became a major shareholder as a result.
13 Oct 2021debt financing▼ Bad
CoJax again extended the maturity of the $2.7 million note it assumed in the Barrister acquisition, this time from October 2021 to April 2022, signaling continued difficulty paying it down.
1 Mar 2021capital raising announcement● Neutral
The board issued small blocks of stock: 5,000 shares each to the CEO and an officer, 310,250 shares to Newbridge Securities for advisory work on the Barrister acquisition, and 100,000 shares to consultants.
20 Nov 2020asset acquisition disposition▲ GoodMajor
CoJax closed its acquisition of Barrister Energy, LLC, issuing 3.65 million shares to Barrister's members - who thereby took voting control of CoJax - and assuming Barrister's $2.7 million debt, bringing CoJax its first real assets: oil drilling and production leases in Alabama.
28 July 2020capital raising announcement● NeutralMajor
CoJax corrected its June 2020 filing on the planned deal to buy Barrister Energy, LLC: the shares to be issued to Barrister's members are 3,650,000, not the 7,500,000 first stated, and closing is now expected on or before August 7, 2020. The amendment also fixes a transposed ownership figure for Roger McLeod (shown at 2,920,000 shares, 80.00% after the exchange), restates the emerging-growth-company risk factor, and re-posts garbled deal terms (including CoJax's right to rescind and a $100,000 cap on indemnification). The deal has not yet closed; the 3.65M-share figure is the one that later closed in Nov 2020.