16 June 2023quarterly activities report▼ Bad
Prairie Operating Co. reported quarterly revenue of $179 thousand and a net loss of $21.1 million for the period ended 2023-06-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 June 2023substantial holder notice● Neutral
Bristol Investment Fund, Ltd, Bristol Capital, LLC reported a Prairie Operating Co. shareholding of 17,500,522 shares (10.50% of votes) in a periodic institutional filing.
1 June 2023quarterly activities report▼ Bad
Prairie Operating Co. reported quarterly revenue of $179 thousand and a net loss of $21.1 million for the period ended 2023-06-30.
1 June 2023auditor change▼ Bad
Auditor MaughanSullivan resigned shortly after the Prairie merger closed; its most recent report had flagged substantial doubt about the company's ability to continue as a going concern for fiscal 2022 (the pre-merger crypto-mining entity).
17 May 2023director interest notice● Neutral
Erik Thoresen became a Prairie Operating Co. director and company insider (initial ownership filing).
17 May 2023director interest notice● Neutral
Jonathan H. Gray became a Prairie Operating Co. director and company insider (initial ownership filing).
15 May 2023substantial holder notice● Neutral
Edward Kovalik, Gary C. Hanna disclosed a new substantial Prairie Operating Co. shareholding (39.12% of votes).
15 May 2023quarterly activities report▼ Bad
Prairie Operating Co. reported quarterly revenue of $179 thousand and a net loss of $21.1 million for the period ended 2023-06-30.
10 May 2023substantial holder notice● Neutral
Bristol Investment Fund, Ltd, Bristol Capital, LLC reported a Prairie Operating Co. shareholding of 17,500,522 shares (10.50% of votes) in a periodic institutional filing.
9 May 2023director interest notice● Neutral
Prairie Operating Co. director Paul L. Kessler acquired 40,159,316 shares and disposed of 124,236 in a set of related equity transactions.
9 May 2023business combination▲ GoodMajor
The merger with Prairie Operating Co., LLC and the Exok Colorado asset purchase both closed. Gary Hanna and Edward Kovalik (Prairie's founders) took board control alongside legacy holder Bristol Capital/Paul Kessler; the earlier Barlock debenture dispute was resolved by converting the debt to stock and new preferred shares at a 30% premium. The company is now operationally an oil and gas producer in Colorado's DJ Basin.
5 May 2023director interest notice● Neutral
Stephen Lee became a Prairie Operating Co. director and company insider (initial ownership filing).
5 May 2023director interest notice● Neutral
Prairie Operating Co. director Michael Martin Breen received 286,071 shares as an equity award and bought 916,112 shares on the open market.
5 May 2023director interest notice● Neutral
Gary C Hanna became a Prairie Operating Co. President and company insider (initial ownership filing).
5 May 2023director interest notice● Neutral
Edward Kovalik became a Prairie Operating Co. Chief Executive Officer and company insider (initial ownership filing).
5 May 2023director interest notice● Neutral
Bryan Freeman became a Prairie Operating Co. Exec VP of Operations and company insider (initial ownership filing).
5 May 2023director interest notice● Neutral
Prairie Operating Co. President Gary C Hanna received 32,823,838 shares as part of the equity award.
5 May 2023director interest notice● Neutral
Prairie Operating Co. Chief Executive Officer Kovalik Edward received 32,823,838 shares as part of the equity award.
5 May 2023director interest notice● Neutral
Gizman I Abbas became a Prairie Operating Co. director and company insider (initial ownership filing).
5 May 2023director interest notice● Neutral
Prairie Operating Co. CEO and Interim CFO John D Maatta acquired 9,083,284 shares and disposed of 124,236 in a set of related equity transactions.
5 May 2023director interest notice● Neutral
Jeremy Landon Ham became a Prairie Operating Co. Chief Commercial Officer and company insider (initial ownership filing).
5 May 2023director interest notice● Neutral
Owen Robert Craig became a Prairie Operating Co. Chief Financial Officer and company insider (initial ownership filing).
4 May 2023business combination● NeutralMajor
The Prairie merger agreement was amended: the planned reverse stock split was dropped, and the outside termination date was pushed to September 30, 2023, alongside updated terms for the Exok asset deal and the PIPE financing.
6 Mar 2023material agreement● Neutral
While the Prairie merger was still pending, the company (still doing crypto mining) signed a two-year hosting agreement with Atlas Power Hosting for its Bitcoin miners in North Dakota.
14 Feb 2023substantial holder notice● Neutral
Bristol Investment Fund, Ltd, Bristol Capital, LLC, Paul Kessler, Bristol Capital Advisors Profit Sharing Plan reported a Prairie Operating Co. shareholding of 2,589,990 shares (21.10% of votes) in a periodic institutional filing.
24 Jan 2023substantial holder notice● Neutral
Alpha Capital Anstalt reported a Prairie Operating Co. shareholding of 612,574 shares (4.99% of votes) in a periodic institutional filing.
14 Nov 2022quarterly activities report▼ Bad
Prairie Operating Co. reported quarterly revenue of $8 thousand and a net loss of $277 thousand for the period ended 2022-09-30.
25 Oct 2022business combination▲ GoodMajor
Creek Road agreed to merge with Prairie Operating Co., LLC, a Delaware oil and gas company, planning to convert all its preferred stock and debentures into common shares, reverse split, rename itself "Prairie Operating Co.," and raise a $30 million PIPE -- contingent on closing a separate deal to buy Weld County, Colorado (DJ Basin) oil and gas assets from Exok, Inc. This is the transaction that created today's Prairie Operating Co.
19 Sept 2022debt financing▼ BadMajor
Barlock Capital Management -- co-managed by the company's own recently-resigned former Co-CEO, Scott Kaufman -- declared a default on a $2.5 million secured debenture and demanded $5 million, alleging Kaufman's resignation and the Alpha settlement triggered default. The company rejected the claim and accused Kaufman of fraud, self-dealing and breach of fiduciary duty -- an open, contentious governance dispute right before the pending merger.
15 Sept 2022debt financing● NeutralMajor
Creek Road Miners formalized a $500,000 loan it had already received from Leviston Resources into a convertible note tied to the pending Prairie Operating merger -- bridge financing to get the company to the closing.