13 Nov 2015quarterly activities report▼ Bad
Pegasi Energy Resources Corporation. reported a quarterly net loss of $10.3 million for the period ended 2015-09-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 Aug 2015quarterly activities report▼ Bad
Pegasi Energy Resources Corporation. reported a quarterly net loss of $1.4 million for the period ended 2015-06-30.
31 July 2015securities registration● Neutral
Pegasi Energy Resources Corporation. filed the final prospectus for a registered offering.
23 July 2015securities registration● Neutral
Pegasi Energy Resources Corporation. amended a filing by which it registered a securities offering with the SEC.
22 June 2015securities registration● Neutral
Pegasi Energy Resources Corporation. amended a filing by which it registered a securities offering with the SEC.
15 May 2015quarterly activities report▼ Bad
Pegasi Energy Resources Corporation. reported a quarterly net loss of $2.2 million for the period ended 2015-03-31.
7 May 2015securities registration● Neutral
Pegasi Energy Resources Corporation. registered a securities offering with the SEC.
1 Apr 2015securities registration● Neutral
Pegasi Energy Resources Corporation. amended a filing by which it filed notice of an exempt private placement.
31 Mar 2015late filing notice▼ Bad
Pegasi Energy Resources Corporation. notified the SEC that its annual report would be filed late.
30 Mar 2015capital raising announcement▼ BadMajor
On March 27, 2015 the company changed the terms of its January 2015 12% convertible notes and warrants with the holders. The lowest conversion price rose from $0.05 to $0.09, warrants went from 33% to 100% of the notes' value (4,861,116 extra warrants issued), and each holder's ownership cap rose from 9.99% to 19.99%. The same day it sold a new $1,000,000 note with warrants for 8,333,334 shares to one accredited investor. Notes sold now total $1,875,000 and warrants cover 15,625,005 shares, so the January debt has grown from $875,000 and the potential share issuance is much larger. The filing does not state what the money will be used for.
16 Jan 2015securities registration● Neutral
Pegasi Energy Resources Corporation. filed notice of an exempt private placement.
15 Jan 2015capital raising announcement▼ BadMajor
On January 9, 2015 the company sold 12% senior secured convertible notes of $525,000 to accredited investors, and later added $350,000, for $875,000 in total, plus warrants for 1,458,333 and 972,222 shares. The notes cannot be called for repayment before January 9, 2016 and convert at the lower of $0.12 or a market-based price with a $0.05 floor. The warrants run seven years. The notes are secured by assets of one of the company's subsidiaries, and a subsidiary guarantees them. This is debt that can turn into many shares at prices far below the 2011-2014 placements, so it could dilute shareholders heavily if converted.
13 Nov 2014quarterly activities report▼ Bad
Pegasi Energy Resources Corporation. reported a quarterly net loss of $736 thousand for the period ended 2014-09-30.
7 Oct 2014drilling progress report▲ Good
On October 7, 2014 the company announced it had started drilling the Huntington #4 well in Marion County, Texas, the first of a planned ten-well program targeting the Travis Peak and Cotton Valley formations at depths up to 9,200 ft. Under an existing participation agreement, Pacific World Energy pays the full cost of drilling and completing the wells and earns a working interest in each well. The filing gives no results or production figures.
14 Aug 2014quarterly activities report▼ Bad
Pegasi Energy Resources Corporation. reported a quarterly net loss of $863 thousand for the period ended 2014-06-30.
14 May 2014quarterly activities report▼ Bad
Pegasi Energy Resources Corporation. reported a quarterly net loss of $6.5 million for the period ended 2014-03-31.
4 Mar 2014capital raising announcement● Neutral
On February 27, 2014 the company issued another 781,000 units on the same terms ($0.90 per unit, five-year warrants at $0.70) for $702,900. In total the December 2013 offering has now issued 2,780,674 units for about $2.5 million.
11 Feb 2014substantial holder notice● Neutral
Jay Moorin disclosed a new substantial Pegasi Energy Resources Corporation. shareholding (9.11% of votes).
31 Dec 2013securities registration● Neutral
Pegasi Energy Resources Corporation. filed notice of an exempt private placement.
30 Dec 2013capital raising announcement● NeutralMajor
On December 20, 2013 the company sold 1,944,119 units at $0.90 for $1,749,707. Each unit is two shares plus a five-year warrant at $0.70 per share. The unit price is lower than the $1.20 paid in September 2012, which dilutes earlier holders more per dollar raised. The filing does not state what the money is for.
What it means for a shareholder
1.9m new shares at $0.900 to raise about $1.7m. That's 2.9% dilution: every existing holder's slice gets 2.9% smaller. If you held $1,000 of shares (1,111 at the issue price), your slice goes from 0.00173% to 0.00168% of the company. To keep it you'd need 34 more shares - about $31 at the issue price.
Create a free account to see this worked out for your own holding.
12 Nov 2013quarterly activities report▼ Bad
Pegasi Energy Resources Corporation. reported a quarterly net loss of $677 thousand for the period ended 2013-09-30.
14 Aug 2013quarterly activities report▼ Bad
Pegasi Energy Resources Corporation. reported a quarterly net loss of $767 thousand for the period ended 2013-06-30.
14 May 2013quarterly activities report▼ Bad
Pegasi Energy Resources Corporation. reported a quarterly net loss of $1.1 million for the period ended 2013-03-31.
15 Nov 2012quarterly activities report▼ Bad
Pegasi Energy Resources Corporation. reported a quarterly net loss of $301 thousand for the period ended 2012-09-30.
14 Nov 2012late filing notice▼ Bad
Pegasi Energy Resources Corporation. notified the SEC that its quarterly report would be filed late.
11 Oct 2012capital raising announcement● Neutral
This amendment restates the September 2012 financing report only to correct the cash fee paid to the UK broker, from $55,627.38 to $44,473.38. The financing terms are otherwise unchanged: 3,342,390 units for $4,010,868.
21 Sept 2012securities registration● Neutral
Pegasi Energy Resources Corporation. filed notice of an exempt private placement.
12 Sept 2012capital raising announcement● NeutralMajor
On September 10, 2012 the company sold 3,342,390 units at $1.20 for $4,010,868. Each unit is two shares plus a three-year warrant at $1.00 per share. The press release says the money is for developing the Cornerstone Project, where the company now holds about 30,205 gross acres, following the Morse #1-H, described as the first horizontal well in the Rodessa field. After this issue there are 61,899,538 shares outstanding. Officers are under a six-month lock-up, and the warrant shares must be registered within 120 days of the end of the financing.
What it means for a shareholder
3.3m new shares at $1.20 to raise about $4.0m. That's 33% dilution: every existing holder's slice gets 33% smaller. If you held $1,000 of shares (833 at the issue price), your slice goes from 0.0125% to 0.00831% of the company. To keep it you'd need 417 more shares - about $500 at the issue price.
Create a free account to see this worked out for your own holding.
14 Aug 2012quarterly activities report▼ Bad
Pegasi Energy Resources Corporation. reported a quarterly net loss of $3.0 million for the period ended 2012-06-30.
15 May 2012quarterly activities report▼ Bad
Pegasi Energy Resources Corporation. reported a quarterly net loss of $2.7 million for the period ended 2012-03-31.