15 Aug 2014late filing notice▼ Bad
DALECO RESOURCES CORP notified the SEC that its quarterly report would be filed late.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
18 Feb 2014late filing notice▼ Bad
DALECO RESOURCES CORP notified the SEC that its quarterly report would be filed late.
3 Jan 2014asset acquisition disposition● Neutral
Daleco closed a partial sale of undeveloped oil and gas deep leasehold rights in Burleson County, Texas on December 17, 2013, selling 280 net acres and receiving $488,038, which it will book as a gain and use for general working capital. The sale agreement was dated October 6, 2013 (effective September 30, 2013), and closing was delayed several times over title issues raised by the buyer. A second amendment extends the closing date to January 16, 2014 for the remaining properties, so part of the sale is still unfinished. This follows the March 2012 sale of other undeveloped leasehold rights. The buyer is not named and has no material relationship with Daleco. The rights sold produced no income.
24 Dec 2013late filing notice▼ Bad
DALECO RESOURCES CORP notified the SEC that its annual report would be filed late.
4 Sept 2013material agreement● Neutral
On August 28, 2013 Daleco settled all obligations with Stephan V. Benediktson, a former officer, by issuing him 2,169,400 new shares and releasing 1,000,000 shares held in escrow as collateral for his note to the company. This wipes out $915,887 of accrued bonus owed to him, $37,448 owed by him, and a note receivable of $444,559 (principal and interest) that had already been impaired. Daleco recognises no gain or loss. The new shares dilute other holders.
19 Aug 2013quarterly activities report▼ Bad
DALECO RESOURCES CORP reported quarterly revenue of $181 thousand and a net loss of $364 thousand for the period ended 2013-06-30.
13 Aug 2013late filing notice▼ Bad
DALECO RESOURCES CORP notified the SEC that its quarterly report would be filed late.
20 May 2013quarterly activities report▼ Bad
DALECO RESOURCES CORP reported quarterly revenue of $162 thousand and a net loss of $374 thousand for the period ended 2013-03-31.
8 May 2013auditor change● Neutral
Daleco's board and Audit Committee engaged Mayer Hoffman McCann P.C. as its new independent auditor on May 6, 2013, replacing Vasquez & Company, after talking with several candidate firms.
8 May 2013auditor change● Neutral
Daleco's Audit Committee dismissed Vasquez & Company LLP, its auditor since December 2004, on May 6, 2013. Vasquez's reports for fiscal 2012 and 2011 had no adverse opinion but included a going-concern modification, and the filing reports no disagreements with the firm. Vasquez's letter agreeing with the disclosure is filed.
6 May 2013late filing notice▼ Bad
DALECO RESOURCES CORP notified the SEC that its quarterly report would be filed late.
27 Mar 2013capital raising announcement● NeutralMajor
On March 25, 2013 Daleco agreed to sell 15,000,000 shares for $1,500,000 plus a five-year warrant for up to 18,000,000 shares at $0.20 to Far East Investments LLC and DTE Investment Ltd. Far East also becomes exclusive sales and marketing agent for Daleco's natural resource products in Asia (excluding India and excluding ZeoSure products). As a condition, major creditors agreed to hold off demanding payment for two years, with accelerated payment if Daleco gets revenues or investments above stated amounts or an event of default goes uncured; $350,000 of proceeds pays past-due amounts to certain debt holders. While the investors hold 51% or more of the shares bought, they can ask Daleco to nominate two directors. The deal significantly dilutes existing shareholders.
19 Feb 2013quarterly activities report▼ Bad
DALECO RESOURCES CORP reported quarterly revenue of $177 thousand and a net loss of $307 thousand for the period ended 2012-12-31.
13 Feb 2013late filing notice▼ Bad
DALECO RESOURCES CORP notified the SEC that its quarterly report would be filed late.
4 Feb 2013securities registration● Neutral
DALECO RESOURCES CORP filed notice of an exempt private placement.
27 Dec 2012late filing notice▼ Bad
DALECO RESOURCES CORP notified the SEC that its annual report would be filed late.
20 Aug 2012quarterly activities report▼ Bad
DALECO RESOURCES CORP reported quarterly revenue of $166 thousand and a net loss of $303 thousand for the period ended 2012-06-30.
3 Aug 2012late filing notice▼ Bad
DALECO RESOURCES CORP notified the SEC that its quarterly report would be filed late.
14 May 2012quarterly activities report● Neutral
DALECO RESOURCES CORP reported quarterly revenue of $160 thousand and net income of $496 thousand for the period ended 2012-03-31.
2 Apr 2012asset acquisition disposition▲ GoodMajor
The leasehold sale agreed in January 2012 closed on March 28, 2012 (later than the February 15 date first set), and Daleco received $898,355, which it will record as a gain. The leases sold were undeveloped and not producing income. Proceeds go to general working capital. The filing says the buyer has no material relationship with Daleco, and notes about $25 million of tax loss carryforwards at September 30, 2011.
21 Feb 2012quarterly activities report▼ Bad
DALECO RESOURCES CORP reported quarterly revenue of $188 thousand and a net loss of $423 thousand for the period ended 2011-12-31.
14 Feb 2012late filing notice▼ Bad
DALECO RESOURCES CORP notified the SEC that its quarterly report would be filed late.
24 Jan 2012securities registration● Neutral
DALECO RESOURCES CORP filed notice of an exempt private placement.
23 Jan 2012material agreement▲ GoodMajor
On January 20, 2012 Daleco agreed to sell certain oil and gas leasehold rights for $898,355 cash, with the price subject to adjustment for uncured title defects. Closing is set for February 15, 2012 or another agreed date. The buyer is not named and no exhibit is filed because of a confidentiality clause.
23 Jan 2012listing compliance notice▼ BadMajor
Daleco received a notice from FINRA on January 20, 2012 that it is late filing its annual report for the year ended September 30, 2011, and an 'E' was added to its ticker on January 18. Unless the report is filed by 5:30 p.m. EST on February 16, 2012, its shares will be removed from the OTC Bulletin Board. Daleco says it intends to file by then. This continues its history of late filings.
22 Dec 2011late filing notice▼ Bad
DALECO RESOURCES CORP notified the SEC that its annual report would be filed late.
19 Aug 2011quarterly activities report▼ Bad
DALECO RESOURCES CORP reported quarterly revenue of $168 thousand and a net loss of $451 thousand for the period ended 2011-06-30.
3 Aug 2011late filing notice▼ Bad
DALECO RESOURCES CORP notified the SEC that its quarterly report would be filed late.
23 May 2011quarterly activities report▼ Bad
DALECO RESOURCES CORP reported quarterly revenue of $152 thousand and a net loss of $385 thousand for the period ended 2011-03-31.
11 May 2011late filing notice▼ Bad
DALECO RESOURCES CORP notified the SEC that its quarterly report would be filed late.