22 Aug 2013securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. filed a prospectus supplement for an offering off its existing shelf.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 Aug 2013securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. filed the final prospectus for a registered offering.
31 July 2013capital raising announcement● Neutral
Red Mountain extended its $500,000 subordinated note to the Belzbergs and Caddo from July 31 to August 31, 2013, and issued 750,000 shares to two brokers for services on the February 2013 private placement. It reported proved reserves of 3,532 MBoe as of May 31, 2013 (including 100% of Cross Border, in which it now owns 83%), and said an offering of up to 500,000 units of 10% Series A preferred stock plus warrants was expected to close around August 2, 2013. The note extension continues the short-term debt thread; the preferred offering is a new funding step.
23 July 2013securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. filed a prospectus supplement for an offering off its existing shelf.
12 July 2013securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. filed the final prospectus for a registered offering.
24 June 2013securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. filed a prospectus supplement for an offering off its existing shelf.
20 May 2013securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. filed notice of an exempt private placement.
20 May 2013securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. filed notice of an exempt private placement.
20 May 2013securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. filed notice of an exempt private placement.
13 May 2013securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. filed a prospectus supplement for an offering off its existing shelf.
10 May 2013securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. filed notice of an exempt private placement.
3 May 2013securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. registered a securities offering with the SEC using its shelf eligibility.
1 May 2013listing compliance notice▼ Bad
RED MOUNTAIN RESOURCES, INC. withdrew a registration statement, abandoning the offering it covered.
22 Apr 2013quarterly activities report▼ Bad
RED MOUNTAIN RESOURCES, INC. reported a quarterly net loss of $3.4 million for the period ended 2013-02-28.
16 Apr 2013late filing notice▼ Bad
RED MOUNTAIN RESOURCES, INC. notified the SEC that its quarterly report would be filed late.
14 Mar 2013securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. filed notice of an exempt private placement.
14 Mar 2013securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. filed notice of an exempt private placement.
6 Mar 2013capital raising announcement● Neutral
On February 28, 2013 Red Mountain agreed to issue 745,854 of its shares to two creditors of Cross Border's predecessor Pure Energy, covering half of $1.3 million in bankruptcy-plan fees (Cross Border pays the other half in cash), in return for 422,650 new Cross Border shares. It also bought 299,383 Cross Border shares from two holders for 598,766 of its shares, and converted about $917,450 of Cross Border notes into 611,630 Cross Border shares at $1.50. This continues the Cross Border consolidation, paid for largely in Red Mountain stock.
20 Feb 2013securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. filed notice of an exempt private placement.
12 Feb 2013securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. filed notice of an exempt private placement.
11 Feb 2013capital raising announcement● NeutralMajor
On February 5, 2013 Red Mountain, Cross Border and two subsidiaries signed a revolving credit agreement with Independent Bank (up to $100 million, initial commitment $20 million, maturing February 5, 2016, secured by first liens on substantially all borrower property). Red Mountain borrowed $7.6 million and used part of it to repay the First State Bank of Lonoke notes and the $6.0 million Belzberg senior note, which had been due February 14; Cross Border borrowed $8.9 million and repaid its own facility. This resolves the Belzberg maturity thread, though Red Mountain issued a new $500,000 unsecured subordinated 12% note to the Belzbergs and Caddo due July 31, 2013. It also accepted subscriptions for 7,058,823 shares at $0.85 for $6,000,000, closing by February 28, 2013. The loan has covenants including a requirement that Alan Barksdale remain CEO.
1 Feb 2013asset acquisition disposition● NeutralMajor
On January 28, 2013 Red Mountain bought 5,091,210 Cross Border shares from a limited number of its stockholders for 10,182,420 of its own shares, taking its stake to about 77.9% and leaving it to consolidate Cross Border's results from that date. It also bought 53,341 more Cross Border shares for 106,682 of its shares. This completes the share-funded Cross Border build-up to control (the pending deals were expected to reach 77.6%), at the cost of heavy dilution; the filing says Cross Border financials and pro forma figures will follow by amendment.
17 Jan 2013securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. registered a securities offering with the SEC using its shelf eligibility.
15 Jan 2013capital raising announcement● Neutral
This second correction to the October 2012 filing restates the O&G Leasing debenture deals. The $165,000 of 2009B and $75,000 of 2009A deals are unchanged (154,948 and 67,042 shares), but the October 18 deal for $3,000,000 of 2009A and $1,255,000 of 2009B now shows 3,860,222 Red Mountain shares, where the original said $3,030,000 of 2009A for 3,887,039 shares. It only fixes earlier disclosure and adds no new transaction.
14 Jan 2013quarterly activities report▼ Bad
RED MOUNTAIN RESOURCES, INC. reported a quarterly net loss of $3.2 million for the period ended 2012-11-30.
7 Jan 2013securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. filed notice of an exempt private placement.
31 Dec 2012capital raising announcement● NeutralMajor
On December 24, 2012 Red Mountain agreed to buy 907,145 Cross Border shares for 1,814,290 of its shares, closed December 27. It then held 7,615,241 Cross Border shares (46.7%); if its other pending agreements close, it would hold 12,653,110 shares (77.6%). This continues the Cross Border build-up toward a controlling stake, with more share dilution.
26 Dec 2012securities registration● Neutral
RED MOUNTAIN RESOURCES, INC. filed notice of an exempt private placement.
14 Dec 2012capital raising announcement▼ BadMajor
On December 10, 2012 the Belzberg senior secured note was raised from $4,000,000 to $6,000,000, still 12%, maturing February 14, 2013, with first liens on Madera, Pawnee, Shafter Lake, Martin and Cowden and second liens on other properties and 2,136,164 Cross Border shares; the lenders got warrants over 200,000 shares at $1.00 through December 1, 2014. Red Mountain also agreed to buy Bamco Gas receivership assets (Duval, Johnson, Zapata County interests) by issuing 2,375,000 shares to the Bamco debenture trustee, with Black Rock releasing a claim; CEO Barksdale is the Bamco receiver, a related-party link. It also signed a flurry of Cross Border deals (e.g. 2,430,605 shares for 4,861,210 of its shares; Cross Border notes for 1,937,500 shares) that, if closed, would lift its stake from 41.1% to 72%. This continues the Bamco thread and the Cross Border build-up, with heavy dilution and more debt due in about two months.
30 Nov 2012director interest notice● Neutral
Michael Uffman became a RED MOUNTAIN RESOURCES, INC. Chief Financial Officer and company insider (initial ownership filing).