16 Sept 2013director interest notice● Neutral
HILLTOP ENERGY, LLC. 10%+ owner William Bruggeman sold 67,507 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 Aug 2013director interest notice● Neutral
HILLTOP ENERGY, LLC. President and CEO Calvin III Wallen received a stock option grant for 2,355 shares.
7 Aug 2013listing compliance notice● NeutralMajor
HILLTOP ENERGY, LLC.'s exchange filed to remove a class of its securities from listing.
26 July 2013director interest notice● Neutral
HILLTOP ENERGY, LLC. 10%+ owner William Bruggeman sold 120,000 shares at $0.29.
16 July 2013listing compliance notice▼ BadMajor
On July 10, 2013 NYSE MKT staff determined the company's stock should be delisted for failing the listing standards (Sections 1003(a)(i)-(iv)). The company does not plan to appeal, NYSE MKT trading ends at the open on July 17, 2013, and the stock is expected to trade on the OTCQB market instead. The company says it will keep filing its SEC reports. This ends the listing-compliance thread that began in 2012 with a delisting rather than a cure.
9 July 2013director interest notice● Neutral
HILLTOP ENERGY, LLC. director Brown David B received 20,000 shares as part of the equity award.
9 July 2013director interest notice● Neutral
HILLTOP ENERGY, LLC. director Ferretti Paul R received 15,000 shares as part of the equity award.
9 July 2013director interest notice● Neutral
HILLTOP ENERGY, LLC. director Bob Clements received 17,500 shares as part of the equity award.
9 July 2013director interest notice● Neutral
HILLTOP ENERGY, LLC. director Gene Howard received 20,000 shares as part of the equity award.
23 May 2013agm notice● Neutral
HILLTOP ENERGY, LLC. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
15 May 2013quarterly activities report▼ Bad
HILLTOP ENERGY, LLC. reported quarterly revenue of $969 thousand and a net loss of $2.2 million for the period ended 2013-03-31.
24 Apr 2013material agreement● NeutralMajor
On April 19, 2013 the company agreed to buy proven reserves, production and undeveloped leasehold in Leon and Robertson Counties, Texas from Gastar Exploration Texas, LP for $46,000,000 (subject to adjustments), with closing expected by June 5, 2013. The press release says the deal covers about 16,300 net acres and production of about 2,050 boe per day (97% gas), and CEO Wallen calls it a first step toward becoming a diversified oil and gas company. This is the acquisition the Wells Fargo extension referred to; the filing does not say how the $46 million will be funded.
22 Apr 2013agm notice● Neutral
HILLTOP ENERGY, LLC. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
8 Apr 2013director interest notice● Neutral
HILLTOP ENERGY, LLC. director Gene Howard received 20,000 shares as part of the equity award.
8 Apr 2013director interest notice● Neutral
HILLTOP ENERGY, LLC. director Brown David B received 20,000 shares as part of the equity award.
8 Apr 2013director interest notice● Neutral
HILLTOP ENERGY, LLC. director Ferretti Paul R received 15,000 shares as part of the equity award.
8 Apr 2013director interest notice● Neutral
HILLTOP ENERGY, LLC. director Bob Clements received 17,500 shares as part of the equity award.
3 Apr 2013material agreement▼ BadMajor
On March 28, 2013 Wells Fargo extended the due date of the $5 million term note and the revolver (about $20.87 million) again, to May 31, 2013, and the company paid the $260,000 loan fee that the prior amendment required. The term note's conversion price was not cut to $0.20 as the prior amendment contemplated; instead it is reduced to the lowest price in a common stock issuance of $10 million or more before May 31, or to $0.20 if the note is not repaid and no such issuance occurs. CEO Wallen's $2 million note was extended to June 1, 2013. The company's press release ties the extension to progress on a material acquisition. The debt is again deferred, not repaid.
12 Mar 2013material agreement● Neutral
On March 6, 2013 the board approved a separation plan for employees: if someone is terminated in connection with a change in control, they get a cash payment. CFO Larry Badgley would receive 12 months of base salary and other eligible employees 50% of 12 months' base salary. It does not cover employees who already have severance rights under an employment agreement. It only pays out if a change in control happens and the employee is terminated; the filing does not say a change in control is planned.
14 Feb 2013quarterly activities report▼ Bad
HILLTOP ENERGY, LLC. reported quarterly revenue of $969 thousand and a net loss of $2.2 million for the period ended 2013-03-31.
31 Jan 2013director interest notice● Neutral
HILLTOP ENERGY, LLC. director Gene Howard received 20,000 shares as part of the equity award.
31 Jan 2013director interest notice● Neutral
HILLTOP ENERGY, LLC. director Bob Clements received 17,500 shares as part of the equity award.
31 Jan 2013director interest notice● Neutral
HILLTOP ENERGY, LLC. director Brown David B received 20,000 shares as part of the equity award.
31 Jan 2013director interest notice● Neutral
HILLTOP ENERGY, LLC. director Ferretti Paul R received 15,000 shares as part of the equity award.
31 Jan 2013listing compliance notice▼ BadMajor
On January 25, 2013 NYSE MKT told the company its stock is subject to delisting, citing continued shortfalls in stockholders' equity and concerns about its financial viability with respect to maturing obligations. The company plans to request a hearing, which pauses the delisting until the panel decides, and says there is no assurance the appeal will succeed. This continues the listing-deficiency thread, and the 1003(a)(iv) viability concern flagged earlier is now part of the delisting determination.
31 Jan 2013director interest notice● Neutral
HILLTOP ENERGY, LLC. 10%+ owner Wells Fargo & Company/mn disposed of 8,500,000 shares via option/appreciation-right settlement.
30 Jan 2013director interest notice● Neutral
HILLTOP ENERGY, LLC. President and CEO Calvin III Wallen received a stock option grant for 2,289 shares.
7 Jan 2013material agreement▼ BadMajor
Effective December 31, 2012, Wells Fargo Energy Capital pushed the due date for the $5 million convertible term note and the revolver (about $20.87 million outstanding) from December 31, 2012 to March 31, 2013, for a $260,000 renewal fee. Wells Fargo's warrants over 8.5 million shares were repriced to $0.20 and now run to December 1, 2017. If the company does not complete a substantive oil/NGL acquisition by March 31, 2013, it owes another $260,000 fee and the term note's conversion price drops to $0.20. CEO Wallen's $2 million note was also extended, to April 1, 2013. The debt is deferred again, not repaid, and the cheaper warrants and conversion terms could dilute shareholders.
14 Nov 2012quarterly activities report▼ Bad
HILLTOP ENERGY, LLC. reported quarterly revenue of $1.0 million and a net loss of $440 thousand for the period ended 2012-12-31.
31 Oct 2012director interest notice● Neutral
HILLTOP ENERGY, LLC. President and CEO Calvin III Wallen received a stock option grant for 2,244 shares.