8 Nov 2011quarterly activities report▼ Bad
Sooner Holdings, Inc. reported quarterly revenue of $1.2 million and a net loss of $4.6 million for the period ended 2011-09-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 Nov 2011listing compliance notice▼ BadMajor
On November 2, 2011 Nasdaq told the company its stock had closed below the $1.00 minimum bid price. It has until April 30, 2012 to regain compliance, and the shares keep trading on the Nasdaq Capital Market meanwhile. Nasdaq says a second 180-day period may be available if the company meets other listing standards and says it would cure by a reverse stock split if needed. This is a new bid-price notice; the earlier 2008 deficiency is in the history.
8 Aug 2011quarterly activities report▼ Bad
Sooner Holdings, Inc. reported quarterly revenue of $1.2 million and a net loss of $5.5 million for the period ended 2011-06-30.
8 Aug 2011substantial holder notice● Neutral
BlackRock, Inc reported a Sooner Holdings, Inc. shareholding of 4,848,959 shares (4.95% of votes) in a periodic institutional filing.
7 July 2011material agreement● NeutralMajor
On July 6, 2011 the company closed the offering announced June 30: 15,900,000 shares and warrants for 7,950,000 shares at $1.58 per combination. After underwriter commission and expenses it received about $23,575,000. This completes the June 30 deal on the terms already described.
30 June 2011securities registration● Neutral
Sooner Holdings, Inc. filed a prospectus supplement for an offering off its existing shelf.
30 June 2011material agreement● NeutralMajor
On June 30, 2011 the company signed an underwriting agreement with JMP Securities to sell 15,900,000 shares plus warrants for 7,950,000 more shares, sold as combinations at $1.58 (the underwriter pays $1.49). Net proceeds are expected to be about $23.6 million. The warrants have a $2.36 exercise price and run to July 6, 2016. This is new equity that dilutes existing holders, and the company agreed not to issue more stock for 60 days without the underwriter's consent.
29 June 2011securities registration● Neutral
Sooner Holdings, Inc. filed the final prospectus for a registered offering.
9 May 2011quarterly activities report▼ Bad
Sooner Holdings, Inc. reported quarterly revenue of $849 thousand and a net loss of $3.9 million for the period ended 2011-03-31.
8 Feb 2011substantial holder notice● Neutral
BlackRock, Inc disclosed a new substantial Sooner Holdings, Inc. shareholding (5.30% of votes).
29 Dec 2010securities registration● Neutral
Sooner Holdings, Inc. filed a prospectus supplement for an offering off its existing shelf.
8 Nov 2010quarterly activities report▼ Bad
Sooner Holdings, Inc. reported quarterly revenue of $1.3 million and a net loss of $3.9 million for the period ended 2010-09-30.
5 Aug 2010securities registration● Neutral
Sooner Holdings, Inc. filed a prospectus supplement for an offering off its existing shelf.
28 July 2010quarterly activities report▼ Bad
Sooner Holdings, Inc. reported quarterly revenue of $1.3 million and a net loss of $1.0 million for the period ended 2010-06-30.
14 July 2010securities registration● Neutral
Sooner Holdings, Inc. filed the final prospectus for a registered offering.
14 July 2010material agreement● NeutralMajor
On July 14, 2010 the company signed a 24-month agreement under which Energy Opportunity Ltd. is committed, at the company's option, to buy up to $10,000,000 of its stock in draw-downs, priced at the daily average price less a 4% to 6% discount. Each draw-down is capped at the lesser of 2.5% of market capitalization or up to $6.4M, Energy is capped at 4.9% ownership, and Reedland gets a 1.0% placement fee. The shares are registered, so this can dilute shareholders as used; it is a new funding source after the Fletcher settlement.
9 Apr 2010securities registration● Neutral
Sooner Holdings, Inc. amended an already-effective registration statement.
14 Oct 2009securities registration● Neutral
Sooner Holdings, Inc. filed the final prospectus for a registered offering.
14 Oct 2009material agreement termination▲ GoodMajor
On October 14, 2009 the company settled with Fletcher over the November 2007 Investment Agreement, which is terminated. Fletcher had refused to close the initial $3M at $1.39 a share; each side had sued, with Fletcher claiming $14 million. Under a new agreement Fletcher bought 1,513,833 shares at about $2.64 (about $4M gross, $3.79M net) plus a warrant on 1,892,291 shares at $3.30 to October 14, 2015. It holds an option to June 30, 2010 to buy 3,027,665 more shares at $2.64 with further warrants, subject to a 4.95% ownership cap.
15 May 2009securities registration● Neutral
Sooner Holdings, Inc. amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
23 Apr 2009material agreement▲ GoodMajor
This amendment adds the payment figures missing from February: the company is to receive $20 million net of Chinese tax from Sinopec, of which $8 million has been received. Of the remaining $12 million, $6 million has been invoiced for accepted technology documentation and $6 million is due on Sinopec's relocation of the Catoosa equipment to China.
30 Mar 2009substantial holder notice● Neutral
Tyson Foods, Inc, Tyson Limited Partnership, Donald J. Tyson disclosed a new substantial Sooner Holdings, Inc. shareholding (11.10% of votes).
12 Mar 2009securities registration● Neutral
Sooner Holdings, Inc. registered a securities offering with the SEC using its shelf eligibility.
25 Feb 2009material agreement▲ GoodMajor
The company announced definitive agreements with Sinopec Corp. to transfer its Fischer-Tropsch technology: a non-exclusive right to use it for coal, petroleum coke, asphalt and related feedstocks in China, and for coal elsewhere except the Americas, Australia, New Zealand and India. Sinopec will build a pilot plant in China from the Catoosa demonstration facility equipment, and profits from improved technology licensed in China will be shared. A down payment has been received and further 2009 payments depend on delivery milestones; total amounts are not given here.
13 Jan 2009auditor change● Neutral
On January 7, 2009 the company's auditor Tullius Taylor Sartain & Sartain merged with Hogan & Slovacek to form HoganTaylor, LLP, which takes over as auditor subject to audit committee approval. There was no resignation or disagreement. The filing also attaches a Dynamic Fuels press release, whose content is not shown.
23 Oct 2008capital raising announcement● NeutralMajor
On October 21, 2008 the $100,000,000 Dynamic Fuels bonds closed and the company issued Tyson a warrant for up to 8,000,000 shares at $.01 each, expiring in four years, under the June 30 Warrant Agreement. This funds the first Dynamic Fuels plant and dilutes shareholders if exercised; the filing does not say how the letter of credit was split between the company and Tyson.
What it means for a shareholder
8.0m new shares at $0.010 to raise about $80,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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7 July 2008capital raising announcement● NeutralMajor
On June 30, 2008 the company and Tyson agreed that Tyson will provide credit support for any part of the company's 50% share ($50,000,000) of a $100,000,000 letter of credit backing Dynamic Fuels' Louisiana Go-Zone bonds that the company cannot arrange itself. Tyson would get warrants at 0.16 shares per dollar of support, exercisable at $.01 per share, expiring four years from issuance. The company says it is still in talks with third parties for the support; the final amount is set when the bonds are authorized, expected in Q3 2008. This is dilutive to shareholders if used.
4 June 2008listing compliance notice▼ Bad
Sooner Holdings, Inc. withdrew a registration statement, abandoning the offering it covered.
21 May 2008listing compliance notice● NeutralMajor
Sooner Holdings, Inc.'s exchange filed to remove a class of its securities from listing.
21 Apr 2008material agreement▼ BadMajor
The company disclosed that Fletcher has not made the initial $3 million investment under the November 2007 agreement because closing conditions were not met, including that the stock be listed on the Nasdaq Global Market. After the move to the Capital Market, this expected funding has not arrived.