Past year: ▼ 9%(38.4c – 83.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
22 Apr 2026listing compliance notice▼ BadMajor
Missed its 10-K deadline again -- this time for fiscal 2025 -- drawing a second NYSE American noncompliance notice with a cure period running to October 2026, echoing the same late-filing problem from April 2024.
27 Feb 2026financial restatement● NeutralMajor
Following SEC comment letters, restated 2023 and 2024 financials to properly allocate income/loss to noncontrolling interest holders of the Class B equity -- a technical, non-cash correction that actually reduces the losses attributable to EON shareholders (2023: $9.0M to ~$6.7M; 2024: $9.1M to ~$7.5M), with no change to total company results or cash position.
17 July 2025capital raising announcement▼ Bad
Took another round of toxic financing: a $600,000 convertible note from White Lion Capital (funded for $564,000 cash, an 6% original issue discount) with a right to a second, identical note, convertible at a steep discount and carrying a penalty interest rate that doubles to 10% if the underlying shares aren't registered within six months.
23 June 2025capital raising announcement▲ GoodMajor
Made its first acquisition since the Pogo deal: bought oil and gas leases and wells in the South Justis Field (Permian Basin, Lea County, New Mexico) for 1 million shares of stock, and signed a workover-services contract with Corsair Well Services (with a $500K cash prepayment) to bring wells in both its Texas and New Mexico fields back online -- real operational expansion, paid mostly in equity rather than cash.
17 June 2025capital raising announcement▲ GoodMajor
Closed the ORRI buyout and seller-note settlement agreed in February: instead of converting its OpCo preferred units, Pogo Royalty accepted 3 million shares of Class A stock -- resolving a major piece of the original Pogo deal's deferred consideration.
19 May 2025auditor change▼ Bad
Auditor Marcum resigned (following its attest business's acquisition by CBIZ) and CBIZ CPAs was engaged as successor; Marcum's prior two years of reports both carried going-concern qualifications, and the company again disclosed material weaknesses in its accounting controls, including for complex financial instruments and oil and gas activities.
9 May 2025capital raising announcement▼ BadMajor
Exchanged $2.9M of the remaining 2023 bridge notes and 3.95M warrants for $6.85M of the same deeply-discounted convertible notes -- by far the largest tranche yet, converting most of the original 2023 bridge financing into toxic long-dated debt.
15 Apr 2025financial restatement▼ BadMajor
Disclosed a restatement: a clerical error in marking the Meteora forward-purchase-agreement liability to fair value had overstated that liability and understated income by about $5.2M in Q3 2024 -- a non-cash correction that doesn't affect revenue or operating results, but adds to a growing list of accounting control problems at the young public company.
13 Feb 2025capital raising announcement▲ GoodMajor
Struck a deal to cut the $15M Pogo seller note nearly in half: agreed to buy out a 10% overriding royalty on Pogo's oil and gas assets for $14M cash, while the seller agreed to waive accrued interest, reduce the note to $8M, and settle it for an $8M cash payment -- contingent on the company securing financing to fund it.
7 Feb 2025capital raising announcement▼ BadMajor
Exchanged another $582,500 of 2023 bridge notes and 984,000 warrants, this time from 11 investors, for $1.57M of the same deeply-discounted convertible notes -- the toxic-conversion financing continuing to spread across the bridge-note holder base.
24 Jan 2025capital raising announcement▼ BadMajor
Exchanged $400,000 of 2023 bridge notes and 950,000 warrants held by seven investors for $1.35M of new convertible notes -- convertible at a steeply discounted $0.25 floor or 90% of the lowest recent trading price, a toxic-financing structure that ratchets down further if the company sells stock any cheaper.
21 Oct 2024capital raising announcement▼ BadMajor
Now renamed EON Resources Inc. (ticker EONR), the company issued a wide batch of stock to settle obligations rather than pay cash: severance shares to its former CEO, consulting-fee shares to outside advisors, "thank you" shares to insiders who personally pledged stock to secure FIBT letters of credit, and stock-for-cash settlements of unpaid vendor invoices at $1/share -- a pattern that points to real cash scarcity even as the company adopts its new identity.
20 June 2024capital raising announcement● Neutral
Further eased the mechanics of the White Lion equity line, speeding up "Rapid Purchase" draws to same-day closings -- continued fine-tuning of the company's standing dilutive financing source.
23 Apr 2024listing compliance notice▼ BadMajor
Missed its 10-K deadline and received a NYSE American noncompliance notice with a six-month cure period; separately, lender FIBT gave the company more time (to year-end 2024) to fund the $5M debt service reserve required under its $28M term loan -- both signs of a company still finding its footing as a newly public operator.
7 Mar 2024capital raising announcement● Neutral
Amended the White Lion equity line to fix commitment-share compensation at 440,000 shares and extend the company's right to draw on the $150M facility to December 2026.
21 Nov 2023business combination▼ BadMajor
Closed the Pogo Resources acquisition -- but heavy shareholder redemptions ($49.4M of the $62.3M trust cashed out at ~$10.95/share) had hollowed out the SPAC's funding, so the cash paid to sellers shrank again to just $31.1M, topped up with a $15M seller note, OpCo preferred/common units, escrow shares and a $1.9M "settle-up" payment due within a week. Only 5.1M Class A shares remained outstanding post-redemption -- a severely thinned-out capital base for what is now an operating oil and gas company.
30 Oct 2023material agreement● Neutral
Extended the deadline on First International Bank & Trust's $28M debt commitment (needed to help fund the Pogo purchase) by two weeks, to November 15, 2023, as the closing timeline kept slipping.
17 Oct 2023business combination● Neutral
Yet another $120,000 trust deposit pushed the closing deadline to November 15, 2023 -- the last of the monthly extensions before the deal finally closed.
13 Oct 2023business combination● NeutralMajor
The final proxy sets a special stockholder meeting for October 30, 2023 to vote on the Pogo purchase, now under the Aug 28, 2023 restructured deal. Cash falls from $100M to $63M (up to $15M by seller note and up to $20M by OpCo preferred units if cash on hand is low), plus 2,000,000 OpCo Class B units at $10.00 each, within a new 'Up-C' structure where the public company's main asset is its stake in a subsidiary (OpCo). This confirms the earlier downward renegotiation of the price and brings the deal to its shareholder vote.
13 Sept 2023material agreement● NeutralMajor
EF Hutton agreed to take $1,800,000 - $500,000 at the closing of the Pogo acquisition and $1,300,000 within 90 days - in full satisfaction of the $2,587,500 deferred underwriting commission from HNR's 2022 IPO, writing off about $787,500, roughly 30% of the fee. The discharge only takes effect if both payments are actually made.
30 Aug 2023capital raising announcement▼ BadMajor
Renegotiated the Pogo deal downward and restructured it as an Up-C: cash consideration was cut from the original $85M target to $63M, with the balance still made up of OpCo units, seller shares and a promissory note -- a real markdown as the SPAC's redemption-drained trust made the original cash price unworkable.
10 Aug 2023business combination● Neutral
Another $120,000 trust deposit extended the closing deadline by a further month, to September 15, 2023, as the Pogo deal continued to slip past its original timetable.
14 July 2023business combination● Neutral
Another routine $120,000 trust deposit extended the deadline to close the Pogo acquisition by one more month, to August 15, 2023.
14 Feb 2023business combination● NeutralMajor
The company (then the SPAC HNR Acquisition Corp) filed a preliminary proxy asking stockholders to approve buying Pogo Resources, LLC under the Dec 27, 2022 agreement: $100M cash (up to $15M via a seller note) plus 2,000,000 shares valued at $10.00 each, with 500,000 of those shares held in escrow. The meeting date and record date are still blank, so this is a draft that starts the formal approval process for the Pogo deal announced earlier.
9 Feb 2023business combination● Neutral
The sponsor deposited $862,500 into the trust account to extend the deadline to complete the Pogo acquisition by three months -- the first of several such extensions as the deal took longer than planned to close.
3 Jan 2023capital raising announcement▲ GoodMajor
Identified its target: signed a purchase agreement to buy Pogo Resources, LLC, a Texas oil and gas operator, from CIC Pogo LP and its co-sellers for $100M -- $85M cash (up to $15M of it via a seller note) plus 2 million shares -- the deal that would become the company's core business.
21 Oct 2022material agreement● NeutralMajor
Lined up a $150M equity line with White Lion Capital, giving the company the right (not obligation) to sell stock to White Lion at 96% of the lowest two-day VWAP -- a standing but dilutive financing source put in place ahead of an eventual business combination.
4 Apr 2022listing compliance notice● NeutralMajor
EON Resources Inc.'s exchange filed to remove a class of its securities from listing.
16 Mar 2022auditor change● Neutral
Replaced Malone Bailey with Marcum LLP as auditor ahead of the still-pending business combination; Malone Bailey's report on the pre-deal SPAC's finances had carried the standard going-concern qualification typical of a blank-check company that hasn't yet closed a deal.
22 Feb 2022business combination● Neutral
Filed an audited balance sheet confirming receipt of the IPO and private-placement proceeds into trust -- a routine post-IPO formality.
