Past year: ▼ 7%(1.54c – 3.40c USD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Apr 2013auditor change● Neutral
Hinto dismissed its auditor Ronald Chadwick, PC on April 15, 2013 and hired Borgers & Cutler, CPA, PC. The filing states there were no disagreements with the former auditor, whose reports for 2010 and 2011 included a going-concern paragraph (doubt about the company continuing).
28 Mar 2013late filing notice▼ Bad
HINTO ENERGY, INC notified the SEC that its annual report would be filed late.
27 Dec 2012capital raising announcement● NeutralMajor
Hinto settled a lawsuit brought in March 2012 by Bridge Industries, which had lent money to South Uintah in June 2011 and sought return of $400,000 plus the value of 1,000,000 shares and other amounts. Under the December 18, 2012 settlement the suit is dismissed, and Hinto will pay $100,000 in cash ($50,000 by March 31, 2013 and $50,000 by June 30, 2013), issue 1,400,000 shares to be registered on Form S-1 by March 31, 2013, and issue 800,000 five-year warrants at $0.25 to $1.50. This closes a dispute that arose from the South Uintah deal, at the cost of cash and new shares that dilute existing holders.
19 Nov 2012quarterly activities report▼ Bad
HINTO ENERGY, INC reported quarterly revenue of $21 thousand and a net loss of $170 thousand for the period ended 2012-09-30.
14 Nov 2012late filing notice▼ Bad
HINTO ENERGY, INC notified the SEC that its quarterly report would be filed late.
20 Aug 2012quarterly activities report▼ Bad
HINTO ENERGY, INC reported quarterly revenue of $10 thousand and a net loss of $383 thousand for the period ended 2012-06-30.
14 Aug 2012late filing notice▼ Bad
HINTO ENERGY, INC notified the SEC that its quarterly report would be filed late.
10 Aug 2012securities registration● Neutral
HINTO ENERGY, INC filed the final prospectus for a registered offering.
3 July 2012securities registration● Neutral
HINTO ENERGY, INC registered a securities offering with the SEC.
20 June 2012securities registration● Neutral
HINTO ENERGY, INC filed notice of an exempt private placement.
1 June 2012capital raising announcement● NeutralMajor
Hinto closed a deal on May 30, 2012 with Pacific Energy and Mining Company to buy wells and assets in the Greater Cisco area, Grand County, Utah: 4,783 gross acres (about 3,827 net, 80% NRI) and 27 wells needing rework, pipeline connection or offset drilling. The $325,000 price is $175,000 cash plus a $150,000 8% convertible note due May 30, 2013, convertible at $1.00 per share. The company expects to take control of the assets within 180 days.
22 May 2012quarterly activities report▼ Bad
HINTO ENERGY, INC reported quarterly revenue of $0 and a net loss of $238 thousand for the period ended 2012-03-31.
14 May 2012late filing notice▼ Bad
HINTO ENERGY, INC notified the SEC that its quarterly report would be filed late.
3 May 2012material agreement● Neutral
An agreement from November 2011 to acquire a 5% working interest in the Indian Nations Wells in Pittsburgh County, Oklahoma, subject to resolution of litigation, was amended in April 2012. The 5% interests in wells 2-30 and 3-30 go to subsidiary South Uintah in exchange for 30,000 restricted shares and continued payment of litigation expenses in a dispute with the wells' operator.
26 Apr 2012capital raising announcement● Neutral
The $500,000 Microalloyed note from December 2011 required all proceeds to be reserved for buying assets. On April 12, 2012 Microalloyed agreed to release $50,000 for operating costs, in return for 25,000 restricted shares that the company agreed to register.
30 Mar 2012late filing notice▼ Bad
HINTO ENERGY, INC notified the SEC that its annual report would be filed late.
29 Mar 2012securities registration● Neutral
HINTO ENERGY, INC filed the final prospectus for a registered offering.
15 Mar 2012securities registration● Neutral
HINTO ENERGY, INC amended an already-effective registration statement.
17 Feb 2012securities registration● Neutral
HINTO ENERGY, INC filed notice of an exempt private placement.
15 Feb 2012securities registration● Neutral
HINTO ENERGY, INC amended an already-effective registration statement.
30 Jan 2012business combination● NeutralMajor
On January 23, 2012 the company completed the South Uintah acquisition under an amended agreement, issuing 11,446,931 shares one-for-one, 6,700,000 warrants and a $375,000 convertible note (convertible at $0.20 per share), making South Uintah a wholly-owned subsidiary. South Uintah returned 2,700,000 shares, which were retired (it had earlier passed 300,000 to a third party). Several Hinto officers and directors (George Harris, Gary Herick, Max Sommer, Kevin Blair) are also officers, directors and shareholders of South Uintah, and David Keller is a shareholder. The company says it has no production yet and plans to spend up to $10,000,000 on acquisitions and drilling, to be raised through private placements; the Natural Buttes farmout cost $478,200. This resolves the pending acquisition from 2011.
22 Dec 2011capital raising announcement● NeutralMajor
Now named Hinto Energy, the company issued a $500,000 secured promissory note to Microalloyed Steel Institute: 3-year term, 10% annual interest, convertible into restricted common stock at $1.00 per share. It is secured by South Uintah's Natural Buttes leases, farmouts and related assets. The filing calls South Uintah the company's majority shareholder.
21 Dec 2011securities registration● Neutral
HINTO ENERGY, INC amended a filing by which it filed notice of an exempt private placement.
21 Dec 2011securities registration● Neutral
HINTO ENERGY, INC filed notice of an exempt private placement.
17 Nov 2011securities registration● Neutral
HINTO ENERGY, INC filed notice of an exempt private placement.
31 Oct 2011quarterly activities report▼ Bad
HINTO ENERGY, INC reported quarterly revenue of $0 and a net loss of $166 thousand for the period ended 2011-09-30.
18 Aug 2011securities registration● Neutral
HINTO ENERGY, INC filed the final prospectus for a registered offering.
10 Aug 2011securities registration● Neutral
HINTO ENERGY, INC amended an already-effective registration statement.
5 Aug 2011material agreement● NeutralMajor
The company signed an agreement on July 27, 2011 to acquire 100% of South Uintah by issuing 8,000,000 common shares one-for-one, plus matching preferred stock, 8,700,000 warrants, a $1,000,000 convertible note and $350,000 of promissory notes. Closing is targeted by August 31, 2011 and depends on South Uintah delivering audited financials. South Uintah will return its 3,000,000 Garner shares for retirement, South Uintah's nominees join the board and current officers resign. This turns July's stated intent into a signed deal; closing was still pending.
13 July 2011capital raising announcement● NeutralMajor
Majority shareholder Sharon Fowler sold 3,000,000 shares to South Uintah Gas Properties for $300,000 cash, giving South Uintah 70.09% of the 4,280,000 shares outstanding; Fowler keeps 680,000 (15.88%). The company says it intends to acquire South Uintah (Colorado-incorporated March 2011, with Natural Buttes, Utah acreage from a farmout) but no agreement exists yet and South Uintah must first complete an audit.
