16 May 2013late filing notice▼ Bad
Jayhawk Energy, Inc. 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.
13 May 2013substantial holder notice● Neutral
Ellis International Ltd disclosed a new substantial Jayhawk Energy, Inc. shareholding (6.78% of votes).
24 Apr 2013material agreement▼ BadMajor
On April 23, 2013 Jayhawk and the debenture investors agreed that each investor can convert up to 25% of the principal outstanding at April 12, 2013 at $0.01 per share (down from $0.05 set in 2012), subject to a 9.99% ownership cap per investor. Debenture maturity moves to December 31, 2013, and the 2009 and 2010 warrants are extended to July 21, 2014 and January 26, 2015. Existing shareholders face further dilution (inference).
14 Feb 2013quarterly activities report● Neutral
Jayhawk Energy, Inc. reported quarterly revenue of $111 thousand and net income of $7 thousand for the period ended 2012-12-31.
31 Dec 2012late filing notice▼ Bad
Jayhawk Energy, Inc. notified the SEC that its annual report would be filed late.
20 Aug 2012quarterly activities report▼ Bad
Jayhawk Energy, Inc. reported quarterly revenue of $112 thousand and a net loss of $31 thousand for the period ended 2012-06-30.
14 Aug 2012late filing notice▼ Bad
Jayhawk Energy, Inc. notified the SEC that its quarterly report would be filed late.
15 May 2012quarterly activities report▼ Bad
Jayhawk Energy, Inc. reported quarterly revenue of $158 thousand and a net loss of $983 thousand for the period ended 2012-03-31.
21 Feb 2012quarterly activities report● Neutral
Jayhawk Energy, Inc. reported quarterly revenue of $169 thousand and net income of $59.1 million for the period ended 2011-12-31.
17 Feb 2012business combination● Neutral
On February 15, 2012 Jayhawk engaged Cynergy Advisors LLC to advise on financial or business transactions, including capital raises, mergers, acquisitions, joint ventures, and sales or trades of a working interest. Cynergy was the placement agent on the 2009 debentures. No specific transaction is announced and no fees are stated.
17 Feb 2012material agreement▼ BadMajor
On February 16, 2012 Jayhawk and the debenture holders signed a modification agreement. The 2009 debentures' maturity is extended to March 15, 2012, and the conversion price of the 2009 and 2010 debentures and the exercise price of their warrants are both cut to $0.05 per share. This is down from $0.30 and $0.12 on the debentures, so the same debt can convert into many more shares and dilute existing holders (inference from the lower price).
14 Feb 2012late filing notice▼ Bad
Jayhawk Energy, Inc. notified the SEC that its quarterly report would be filed late.
27 Jan 2012financial restatement▼ BadMajor
Jayhawk widened its January restatement. Besides the December 2009 and October 2010 debenture and derivative accounting, it now says leases in Kansas and North Dakota were amortized when they should have been kept as capitalized assets. It plans to restate the 10-K for September 30, 2010 and the 10-Qs for December 2009, March, June and December 2010, and March and June 2011, with the restatement shown in the notes to the FY2011 10-K due on or before February 16, 2012. No restated amounts are given.
17 Jan 2012financial restatement▼ BadMajor
Management determined that its accounting for the convertible debentures issued December 14, 2009 and October 20, 2010 was wrong, including derivative liabilities that were not previously recorded, and past financial statements should not be relied on. It plans to restate the 10-K for the year ended September 30, 2010 (the filing writes 'September 3') and the 10-Qs for March, June and September 2010. The filing gives no restated amounts. The address is now Coeur d'Alene, Idaho.
29 Dec 2011late filing notice▼ Bad
Jayhawk Energy, Inc. notified the SEC that its annual report would be filed late.
15 Nov 2011auditor change● Neutral
On November 11, 2011 Jayhawk engaged DeCoria Maichel and Teague P.S. as its new auditor, replacing BehlerMick, with audit committee approval. The filing reports no prior consultations with the new firm on accounting issues.
10 Nov 2011auditor change● Neutral
BehlerMick PS resigned as auditor effective November 1, 2011 (accepted November 4) after its audit practice was reorganized following the former managing partner's departure in December 2010. Its reports for fiscal 2009 and 2010 carried a going-concern paragraph, and the filing reports no disagreements. The company could not get the usual auditor letter because BehlerMick no longer practices public accounting.
22 Aug 2011quarterly activities report▼ Bad
Jayhawk Energy, Inc. reported quarterly revenue of $53 thousand and a net loss of $312 thousand for the period ended 2011-06-30.
16 Aug 2011late filing notice▼ Bad
Jayhawk Energy, Inc. notified the SEC that its quarterly report would be filed late.
17 May 2011quarterly activities report▼ Bad
Jayhawk Energy, Inc. reported quarterly revenue of $92 thousand and a net loss of $881 thousand for the period ended 2011-03-31.
16 May 2011late filing notice▼ Bad
Jayhawk Energy, Inc. notified the SEC that its quarterly report would be filed late.
2 May 2011director interest notice● Neutral
Jayhawk Energy, Inc. CEO Lindsay Edward Gorrill bought 1,200,000 shares on the open market at $0.12.
14 Apr 2011capital raising announcement▼ BadMajor
On April 13, 2011 Jayhawk closed a $321,000 private placement of 2,675,000 shares at $0.12, with no warrants; CEO Lindsay Gorrill bought $144,000 (44.9%). Because of that lower price, the October 2010 debentures and warrants were re-priced from $0.18 to $0.12 per share under their own terms, which increases the shares they could convert into.
What it means for a shareholder
2.7m new shares at $0.120 to raise about $321,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
14 Feb 2011quarterly activities report● Neutral
Jayhawk Energy, Inc. reported quarterly revenue of $79 thousand and net income of $63 thousand for the period ended 2010-12-31.
28 Dec 2010late filing notice▼ Bad
Jayhawk Energy, Inc. notified the SEC that its annual report would be filed late.
1 Nov 2010securities registration● Neutral
Jayhawk Energy, Inc. filed notice of an exempt private placement.
19 Oct 2010material agreement▼ BadMajor
On October 18, 2010 Jayhawk agreed to sell $500,000 of 10% secured convertible debentures, due in two years, convertible at $0.18 per share (2,777,778 shares) with 1,805,556 warrants at $0.45 for 42 months. The debentures are secured by a lien on company assets including its North Dakota properties but not certain Kansas assets. This is more debt with a conversion price lower than the earlier $0.30 debentures.
10 Sept 2010securities registration● Neutral
Jayhawk Energy, Inc. filed the final prospectus for a registered offering.
24 Aug 2010securities registration● Neutral
Jayhawk Energy, Inc. amended a filing by which it registered a securities offering with the SEC.
12 Aug 2010quarterly activities report▼ Bad
Jayhawk Energy, Inc. reported a quarterly net loss of $655 thousand for the period ended 2010-06-30.