29 Dec 2010securities registration● Neutral
Sable Natural Resources Corp filed notice of an exempt private placement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
21 Dec 2010securities registration● Neutral
Sable Natural Resources Corp filed notice of an exempt private placement.
21 Dec 2010securities registration● Neutral
Sable Natural Resources Corp filed notice of an exempt private placement.
9 Dec 2010director interest notice● Neutral
Waypoint Nytex, LLC became a Sable Natural Resources Corp director and company insider (initial ownership filing).
7 Dec 2010securities registration● Neutral
Sable Natural Resources Corp filed notice of an exempt private placement.
7 Dec 2010director interest notice● Neutral
Thomas Drechsler became a Sable Natural Resources Corp director and company insider (initial ownership filing).
30 Nov 2010asset acquisition disposition● NeutralMajor
On November 23, 2010, the company bought Francis Drilling Fluids (a Louisiana oilfield fluids and services provider) in a deal valued at $52,677,466: $21.5 million cash, 5,407,339 company shares valued at $2.00, a $750,000 seller note and payoff of $19,612,788 of Francis debt. It was financed by a PNC Bank senior facility of up to $24 million and $20 million from WayPoint Nytex for preferred stock and warrants. The WayPoint warrants could reach 51% of the common stock if default conditions are met, and WayPoint gets board designation rights, so shareholders face heavy potential dilution and loss of control. This is a major shift from the earlier small Supreme Vacuum stake sale. The filing text is truncated, so further terms are not covered.
23 Nov 2010securities registration● Neutral
Sable Natural Resources Corp filed notice of an exempt private placement.
15 Nov 2010quarterly activities report▼ Bad
Sable Natural Resources Corp reported a quarterly net loss of $2.0 million for the period ended 2010-09-30.
10 Nov 2010capital raising announcement● Neutral
The company completed a $2,150,000 private placement of 12% convertible debentures (180-day maturity) with warrants, closing October 12, 2010. The debentures convert at $1.50 per share into 1,433,333 shares and the warrants (exercise price $2.00) cover 430,000 shares, so conversion and exercise would dilute shareholders. The filing notes a 1-for-2 reverse stock split effective November 1, 2010 does not change these share numbers.
30 Sept 2010asset acquisition disposition● Neutral
On September 8, 2010, the company sold its 71.18% stake in Supreme Vacuum Services, plus a $31,250 note, to Leo and Hector Quintanilla for $400,000 cash. The filing says Supreme Vacuum's losses ($828,169 for 2009 and $235,103 for the first half of 2010) were a primary motivation, and the company expects a one-time loss of about $944,056 on the sale.
28 Sept 2010securities registration● Neutral
Sable Natural Resources Corp filed notice of an exempt private placement.
23 Aug 2010quarterly activities report▼ Bad
Sable Natural Resources Corp reported a quarterly net loss of $270 thousand for the period ended 2010-06-30.
17 Aug 2010late filing notice▼ Bad
Sable Natural Resources Corp notified the SEC that its quarterly report would be filed late.
28 July 2010capital raising announcement● Neutral
The company (filing under the name NYTEX Energy Holdings, Inc.) finished selling 5,933,102 shares of common stock at $1.00 each for $5,933,102 on July 22, 2010, to accredited investors. Each share came with a warrant to buy one more share at $0.50 over 3 years, so existing shareholders are diluted if the warrants are exercised. The sale was made under a private placement dated August 2008.
What it means for a shareholder
5.9m new shares at $1.00 to raise about $5.9m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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31 Mar 2010late filing notice▼ Bad
Sable Natural Resources Corp notified the SEC that its annual report would be filed late.
19 Feb 2010director interest notice● Neutral
Buccel LLC became a Sable Natural Resources Corp 10%+ owner and company insider (initial ownership filing).
8 Feb 2010director interest notice● Neutral
Michael K Galvis became a Sable Natural Resources Corp President and CEO and company insider (initial ownership filing).
8 Feb 2010director interest notice● Neutral
Georgianna Hanes became a Sable Natural Resources Corp Secretary, Treasurer, and CFO and company insider (initial ownership filing).
8 Feb 2010director interest notice● Neutral
William G Brehmer became a Sable Natural Resources Corp Vice President and COO and company insider (initial ownership filing).