18 June 2008substantial holder notice● Neutral
Enable Capital Management, LLC, Mitchell S. Levine disclosed a new substantial Pegasi Energy Resources Corporation. shareholding (5.70% of votes).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
18 June 2008substantial holder notice● Neutral
Enable Capital Management, LLC, Mitchell S. Levine disclosed a new substantial Pegasi Energy Resources Corporation. shareholding (5.70% of votes).
18 June 2008substantial holder notice● Neutral
Enable Capital Management, LLC, Mitchell S. Levine disclosed a new substantial Pegasi Energy Resources Corporation. shareholding (5.70% of votes).
18 June 2008substantial holder notice● Neutral
Enable Capital Management, LLC, Mitchell S. Levine, Enable Growth Partners, L.P reported a Pegasi Energy Resources Corporation. shareholding of 1,766,667 shares (6.00% of votes) in a periodic institutional filing.
1 May 2008securities registration● Neutral
Pegasi Energy Resources Corporation. amended a filing by which it registered a securities offering with the SEC.
31 Mar 2008late filing notice▼ Bad
Pegasi Energy Resources Corporation. notified the SEC that its annual report would be filed late.
14 Feb 2008securities registration● Neutral
Pegasi Energy Resources Corporation. registered a securities offering with the SEC.
6 Feb 2008auditor change● Neutral
On February 1, 2008 the company dismissed its auditor George Stewart, CPA, and on February 4 hired Whitley Penn LLP for the year ended December 31, 2007. The filing states there were no disagreements, though Stewart's earlier reports on 2006 and 2007 (fiscal years ended April 30) included a going-concern doubt.
28 Jan 2008capital raising announcement▲ Good
This amendment reports further investor purchases on January 24, 2008 under the December 2007 private placement, raising the expected total gross proceeds to about $10,284,560 (up from about $10,054,000). Placement agent fees to SMH rose to about $542,352 with warrants on 703,315 shares at $1.60; Clarion's terms are unchanged.
What it means for a shareholder
703,315 new shares at $1.60 to raise about $1.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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18 Dec 2007late filing notice▼ Bad
Pegasi Energy Resources Corporation. notified the SEC that its quarterly report would be filed late.
18 Dec 2007business combination▲ GoodMajor
On December 12, 2007 the shell company Maple Mountain Explorations bought all the shares of Pegasi Energy Resources Corporation (a Texas company) in exchange for 17,500,000 new shares, giving Pegasi's former shareholders 17,500,000 of 21,000,000 shares outstanding and control. Pegasi's business, East Texas Rodessa-field gas and oil (the 'Cornerstone Project', with Marion Energy holding a 30% interest), became the company's sole business, and it plans to adopt the Pegasi name. At the same time it sold about 8,378,500 units at $1.20 (a share plus a five-year warrant for 0.5 share at $1.60), expecting about $10,054,000 gross, with SMH Capital and Clarion Finanz as placement agents.
4 June 2007material agreement● Neutral
The shell company (then called Maple Mountain Explorations Inc., later Pegasi Energy Resources Corporation) approved a 2007 stock option plan on May 29, 2007, allowing up to 1,750,000 shares to be issued to directors, officers, consultants, service providers and employees. For shareholders this means future dilution as options are granted and exercised.
26 Mar 2007director interest notice● Neutral
Marvin Wosk became a Pegasi Energy Resources Corporation. PRES, CEO, TRES, CFO, SECR and company insider (initial ownership filing).
30 May 2006securities registration● Neutral
Pegasi Energy Resources Corporation. registered a small-business securities offering with the SEC.