23 Dec 2013quarterly activities report▼ Bad
RedHawk Holdings Corp. reported quarterly revenue of $0 and a net loss of $40 thousand for the period ended 2013-10-31.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
17 Dec 2013late filing notice▼ Bad
RedHawk Holdings Corp. notified the SEC that its quarterly report would be filed late.
22 Nov 2013substantial holder notice● Neutral
ASHER ENTERPRISES, INC. EIN disclosed a new substantial RedHawk Holdings Corp. shareholding (9.99% of votes).
7 Oct 2013capital raising announcement● Neutral
This amendment fixes the company name, which the original September 2013 report had wrong, to Independence Energy Corp. The terms of the $32,500 Asher note are repeated, with no new financing.
27 Sept 2013capital raising announcement▼ Bad
On September 23, 2013 the company closed a second note with Asher Enterprises: an 8% convertible note for $32,500 maturing June 19, 2014, convertible at 58% of market price, with 22% interest after maturity. The filing wrongly names the company as Liberty Energy Corp. and contains date typos ("20123"), which the company corrected in a later amendment.
16 Sept 2013quarterly activities report▼ Bad
RedHawk Holdings Corp. reported quarterly revenue of $0 and a net loss of $41 thousand for the period ended 2013-07-31.
29 July 2013capital raising announcement▼ Bad
Effective July 22, 2013 the company sold Asher Enterprises an 8% convertible note for $57,000, maturing April 17, 2014. After 180 days it can be converted into shares at 58% of the market price, and the rate rises to 22% after maturity, so conversion could dilute existing shareholders.
13 June 2013quarterly activities report▼ Bad
RedHawk Holdings Corp. reported quarterly revenue of $0 and a net loss of $56 thousand for the period ended 2013-04-30.
2 May 2013late filing notice▼ Bad
RedHawk Holdings Corp. notified the SEC that its annual report would be filed late.
9 Apr 2013material agreement▼ Bad
On April 5, 2013 the company issued a $46,000 convertible debenture to Europa Capital AG, paying 6% interest (minimum interest charge $8,280) and due in three years. It can be converted into shares at $0.01 per share, so it adds debt that could turn into shares at a price far below the $0.90 to $2.50 prices of the 2012 share sales.
7 Mar 2013material agreement● NeutralMajor
On February 28, 2013 the company settled with MontCrest Energy and Black Strata, handing MontCrest its 25% working interests in Wells 105, 106, 113 and 115 in Coleman County, Texas. In return it received a 100% interest in about 1,400 acres of the Coleman County South Lease held by Black Strata. This reverses the 2012 well-by-well purchases into acreage; the filing does not say why the settlement was reached.
17 Dec 2012quarterly activities report▼ Bad
RedHawk Holdings Corp. reported quarterly revenue of $0 and a net loss of $23 thousand for the period ended 2012-10-31.
18 Sept 2012quarterly activities report▼ Bad
RedHawk Holdings Corp. reported quarterly revenue of $0 and a net loss of $56 thousand for the period ended 2012-07-31.
17 Sept 2012late filing notice▼ Bad
RedHawk Holdings Corp. notified the SEC that its quarterly report would be filed late.
19 June 2012quarterly activities report▼ Bad
RedHawk Holdings Corp. reported quarterly revenue of $0 and a net loss of $32 thousand for the period ended 2012-04-30.
19 June 2012material agreement● Neutral
On June 18, 2012 the company replaced its March 29 agreement with MontCrest, raising its stake in the two-well Vaughn/Shields drilling program from a 5% working interest (70% net revenue interest) to 7% (75%) for an extra $46,000. The wells were still described as not yet producing.
15 June 2012late filing notice▼ Bad
RedHawk Holdings Corp. notified the SEC that its quarterly report would be filed late.
12 June 2012material agreement● NeutralMajor
On June 8, 2012 the company signed a joint development and operating agreement with MontCrest Energy Properties, MontCrest Energy, and Black Strata, LLC, buying a 12.5% working interest for $90,784.50 in an approximately 2,421-acre area in Coleman County, Texas, with an option on another 12.5%. This deepens its Coleman County position with the same partner.
1 June 2012asset acquisition disposition● Neutral
On May 29, 2012 the company bought a 2.5% working interest (70% net revenue interest) in the Taylor-MEI #113 and #115 wells on MontCrest's Taylor Lease in Coleman County, Texas for $82,500. This adds to its Coleman County exposure alongside the March MontCrest drilling program.
24 May 2012material agreement● NeutralMajor
On May 24, 2012 the company signed a financing agreement under which one investor will provide up to $1,000,000 in advances until May 24, 2013, extendable by up to 12 months. For each advance the company issues shares priced at 90% of the average closing price over the prior five banking days, so any money drawn is paid for with new shares.
18 May 2012material agreement● Neutral
On May 15, 2012 the company sold 50,000 shares at $2.50 each to one non-U.S. investor, raising $125,000 gross. The price per share is higher than the $0.90 and $1.30 prices in the March sales.
1 May 2012late filing notice▼ Bad
RedHawk Holdings Corp. notified the SEC that its annual report would be filed late.
2 Apr 2012asset acquisition disposition● NeutralMajor
Effective March 29, 2012 the company bought a 5% working interest (70% net revenue interest) in a two-well drilling program in Coleman County, Texas from MontCrest Energy, Inc. for $115,000. The Vaughn-MEI #106 and Shields-MEI #105-H wells are not yet producing, so this is a drilling-stage bet rather than existing production; it is the company's second oil and gas property after the Quinlan Lease.
20 Mar 2012material agreement● Neutral
On March 15, 2012 the company sold 100,000 shares at $1.30 each to one non-U.S. investor, raising $130,000 gross. This continues the series of small share sales that began earlier in March, at a higher price per share.
7 Mar 2012material agreement● Neutral
On March 1, 2012 the company sold 138,888 shares at $0.90 each to one non-U.S. investor, raising $125,000 gross. This adds to the number of shares outstanding.
10 Feb 2012director interest notice● Neutral
RedHawk Holdings Corp. director Gregory Rotelli bought 12,000,000 shares on the open market at $0.00.
1 Feb 2012director interest notice● Neutral
Gregory Rotelli became a RedHawk Holdings Corp. director and company insider (initial ownership filing).
30 Jan 2012asset acquisition disposition▲ GoodMajor
The company, now named Independence Energy Corp. (renamed from Oliver Creek Resources in August 2008), closed the purchase of a 2.5% interest in the Quinlan Lease in Pottawatomie County, Oklahoma from Wise Oil and Gas LLC on December 15, 2011, and a further 2.5% on December 23, 2011, for a total of 5%. It paid $15,616 per 1% of interest, and says it began earning revenue from the operating well on the property; this is its first producing oil and gas interest described in the filings so far.
14 Dec 2011quarterly activities report▼ Bad
RedHawk Holdings Corp. reported quarterly revenue of $0 and a net loss of $3 thousand for the period ended 2011-10-31.
14 Sept 2011quarterly activities report▼ Bad
RedHawk Holdings Corp. reported quarterly revenue of $0 and a net loss of $3 thousand for the period ended 2011-07-31.