30 July 2010securities registration● Neutral
Jayhawk Energy, Inc. amended a filing by which it registered a securities offering with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
23 July 2010director interest notice● Neutral
Jayhawk Energy, Inc. CEO, CFO Lindsay Edward Gorrill bought 40,000 shares on the open market.
20 May 2010securities registration● Neutral
Jayhawk Energy, Inc. registered a securities offering with the SEC.
20 May 2010securities registration● Neutral
Jayhawk Energy, Inc. amended a filing by which it filed notice of an exempt private placement.
20 Apr 2010material agreement● Neutral
On April 19, 2010 Jayhawk and the investors amended the December 2009 debenture deal, merging the third and fourth tranches into one final $600,000 tranche and waiving certain closing conditions for the third. When funded this brings the total to $1.5 million and ends the offering. Funds are for continued drilling at the Crosby, North Dakota Madison oil pool.
9 Mar 2010director interest notice● Neutral
Jayhawk Energy, Inc. CEO, CFO Lindsay Edward Gorrill sold 75,000 shares.
4 Mar 2010securities registration● Neutral
Jayhawk Energy, Inc. filed notice of an exempt private placement.
2 Mar 2010director interest notice● Neutral
Jayhawk Energy, Inc. CEO, CFO Lindsay Edward Gorrill sold 6,000 shares at $1.28.
23 Feb 2010material agreement● NeutralMajor
On February 22, 2010 Jayhawk agreed to issue 1,600,000 shares in exchange for cancelling the $800,000 Starshell Consultants convertible debenture (the July 2008 note, extended in 2009), including all accrued interest. This resolves that debt thread, trading it for new shares.
22 Jan 2010director interest notice● Neutral
Jayhawk Energy, Inc. CEO, CFO Lindsay Edward Gorrill sold 30,000 shares.
19 Jan 2010director interest notice● Neutral
Jayhawk Energy, Inc. CEO, CFO Lindsay Edward Gorrill sold 85,000 shares.
12 Jan 2010securities registration● Neutral
Jayhawk Energy, Inc. filed notice of an exempt private placement.
31 Dec 2009debt financing● NeutralMajor
The second tranche of the December 2009 debenture offering closed on December 30, 2009 for $600,000, bringing the total raised to $900,000 of the up to $1.5 million. The terms are unchanged (10%, convertible at $0.30, warrants at $0.45), and the funds are meant for the first two wells of a multiwell program on its Crosby, North Dakota Madison Formation oil pool, with permitting under way for drilling shortly after the New Year.
14 Dec 2009debt financing▼ BadMajor
On December 9, 2009 Jayhawk agreed to sell up to $1.5 million of 10% senior secured convertible debentures in stages, due two years out, convertible at $0.30 per share, with 42-month warrants at $0.45. The first $300,000 was received; the money is for working capital, with plans to begin drilling two wells before year-end, and later tranches depend on that drilling's success. The conversion price of $0.30 is far below the $1.75 conversion on the 2008 note, so conversion could add many shares. A placement-agent (Cynergy Advisors) gets a cash fee and warrants.
8 Oct 2009auditor change● Neutral
On October 7, 2009 the board dismissed auditor Meyers Norris Penny and appointed Williams & Webster, P.S. of Spokane, Washington. The filing reports no disagreements with the old auditor; its earlier reports carried a going-concern doubt paragraph due to recurring losses.
24 Sept 2009capital raising announcement● NeutralMajor
The $800,000 convertible note from July 2008 (due July 30, 2009) was extended to July 30, 2010. Accrued interest to July 30, 2009 was paid in 384,000 restricted shares, and a $40,000 extension fee was paid in 160,000 restricted shares, so the extension adds shares. An attached press release updates the southeast Kansas projects (Uniontown and Girard, about 45,000 gross acres): only 5 wells are producing, at over 105 mcf/day, and True Energy has piloted 5 wells with its own stimulation methods. The release describes the True Energy deal as up to 85% for $1.8 million over 3 years, which differs from the $500,000 + $1,300,000 minimum in the August letter agreement (the two figures sum to $1.8 million, so likely consistent but not stated). The press release names the note holder as Starshell Consultants.
11 Aug 2009material agreement● NeutralMajor
On August 7, 2009 Jayhawk signed a letter agreement letting DK True Energy Development earn up to an 85% working interest in its southeast Kansas coal bed methane project by paying Jayhawk $500,000 and spending at least $1,300,000 over three years. True Energy bears the development cost; formal documents were expected by August 31, 2009, with activity to start in September 2009.
28 July 2009director interest notice● Neutral
Tyrone Docherty became a Jayhawk Energy, Inc. director and company insider (initial ownership filing).
12 Dec 2008late filing notice▼ Bad
Jayhawk Energy, Inc. notified the SEC that its annual report would be filed late.
24 Nov 2008director interest notice● Neutral
Tammy Cripe Sparkman became a Jayhawk Energy, Inc. Corporate Secretary and company insider (initial ownership filing).
22 Oct 2008director interest notice● Neutral
IV Thomas G. Ryman became a Jayhawk Energy, Inc. Chief Financial Officer and company insider (initial ownership filing).
24 Sept 2008production update● Neutral
Jayhawk filed only a pointer to a September 24, 2008 press release on a production update. The filing text itself gives no figures or details.
6 Aug 2008capital raising announcement● NeutralMajor
On July 30, 2008 Jayhawk issued an $800,000 convertible note due in one year at 12% interest, convertible at $1.75 per share, with 400,000 warrants at $2.10 expiring in two years. This is new debt that could add shares if converted. The company's address is now Post Falls, Idaho.
6 Aug 2008director interest notice● Neutral
Marshall Renny Diamond-goldberg became a Jayhawk Energy, Inc. director and company insider (initial ownership filing).
3 July 2008director interest notice● Neutral
Donald Ralph Siemens became a Jayhawk Energy, Inc. director and company insider (initial ownership filing).
3 July 2008asset acquisition disposition● Neutral
The board approved the Missouri Gas Partners agreement (the March 2008 deal for $140,006 cash and 286,550 shares) and authorised issuing 211,975 shares as leases are assigned. Donald Siemens joined the board as Joseph Young left the board but stayed as CFO; a code of ethics and audit committee (Siemens, Bright, Wayrynen) were also set up.
16 May 2008late filing notice▼ Bad
Jayhawk Energy, Inc. notified the SEC that its quarterly report would be filed late.
8 May 2008director interest notice● Neutral
Jeff Wayne Bright became a Jayhawk Energy, Inc. director and company insider (initial ownership filing).
8 May 2008director interest notice● Neutral
Matt Wayrynen became a Jayhawk Energy, Inc. director and company insider (initial ownership filing).
29 Apr 2008material agreement● Neutral
On April 18, 2008 Jayhawk agreed to buy petroleum and gas interests in Crawford County, Kansas from Titan West Energy for $300,000 cash and 50,000 shares, with closing by May 30, 2008. This covers 1,336 acres of leases and fourteen completed gas wells, and $150,000 of the price had already been paid. It adds to the nearby Kansas holdings.