24 June 2020substantial holder notice● Neutral
Darling Capital, LLC reported a Sylios Corp shareholding of 5,504,633 shares (6.60% of votes) in a periodic institutional filing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
15 May 2020late filing notice▼ Bad
Sylios Corp notified the SEC that its annual report would be filed late.
17 Mar 2020material agreement● Neutral
Assigned the Deep Green Waste & Recycling package it had bought in January - a $23,000 convertible note, a 262,500-share warrant and the related purchase and registration rights agreements - to Armada Investment Fund for $10,500 cash plus forgiveness of what remained on Armada's own replacement note of February 2019. It closed on 12 March, about two months after the position was taken on.
17 Jan 2020material agreement▼ BadMajor
Sylios switched roles for once: it agreed to consult for $7,500 on the S-1 filing of another penny stock, Deep Green Waste & Recycling, then took a $35,000 convertible note from Deep Green as payment-in-kind -- becoming a toxic-note lender to a similarly small shell rather than an operator.
16 Jan 2020capital raising announcement▼ Bad
Armada and Fourth Man each issued Sylios another $18,425 convertible note on the same falling terms, with 32 million shares reserved for each -- the toxic-financing treadmill continued into 2020.
17 Dec 2019capital raising announcement▼ Bad
Armada issued yet another $16,500 convertible note on the same terms, with 13 million more shares reserved -- the fifth such note in six months.
20 Nov 2019quarterly activities report▼ Bad
Sylios Corp reported a quarterly net loss of $252 thousand for the period ended 2019-09-30.
19 Nov 2019quarterly activities report▼ Bad
Sylios Corp reported a quarterly net loss of $252 thousand for the period ended 2019-09-30.
14 Nov 2019late filing notice▼ Bad
Sylios Corp notified the SEC that its quarterly report would be filed late.
4 Nov 2019capital raising announcement▼ Bad
Armada extended Sylios another $25,300 convertible note at the same falling $0.024 warrant strike, with 22 million more shares reserved for conversion -- the toxic-note balance kept climbing while the warrant price kept falling.
30 Oct 2019asset acquisition disposition▼ BadMajor
In an unusual pair of deals for an oil-and-gas registrant, Sylios bought 30,000 "Squeeze" soap-filled scrubbers and 1,000 wireless earbuds as surplus inventory from Wanshan Engineering Services, paying entirely in stock -- 16 million restricted shares for $160,000 of consumer goods, far outside the company's stated business.
18 Oct 2019capital raising announcement▼ BadMajor
BHP Capital and Fourth Man extended another $27,500 in convertible notes to Sylios, this time with warrant strike prices cut to $0.024 (from $0.08 three months earlier) and 16 million shares reserved for conversion -- terms consistent with a falling stock price.
19 Aug 2019quarterly activities report▼ Bad
Sylios Corp reported quarterly revenue of $3 thousand and a net loss of $190 thousand for the period ended 2019-06-30.
14 Aug 2019late filing notice▼ Bad
Sylios Corp notified the SEC that its quarterly report would be filed late.
31 July 2019capital raising announcement▼ BadMajor
Three weeks later Sylios took on $46,200 more in identical convertible notes, this time from three lenders at once (Armada, BHP Capital NY and Fourth Man) -- the toxic-note roster was widening, not narrowing.
19 July 2019substantial holder notice● Neutral
Darling Capital, LLC disclosed a new substantial Sylios Corp shareholding (5.08% of votes).
10 July 2019director interest notice● Neutral
Jimmy Wayne Anderson became a Sylios Corp President, CFO and company insider (initial ownership filing).
9 July 2019capital raising announcement▼ BadMajor
Years after suspending its reporting duty in 2012 and returning to the SEC in 2019 (by now renamed Sylios Corp), the company resumed the same toxic-financing pattern: two convertible notes totaling $33,000 to Armada Investment Fund at 8% with five-year warrants, and over 5 million shares already reserved for conversion.
17 June 2019securities registration● Neutral
Sylios Corp amended a filing by which it registered a securities offering with the SEC.
15 May 2019securities registration● Neutral
Sylios Corp amended a filing by which it registered a securities offering with the SEC.
11 Apr 2019securities registration● Neutral
Sylios Corp registered a securities offering with the SEC.
16 Apr 2012listing compliance notice▼ BadMajor
Sylios Corp suspended its duty to file periodic reports with the SEC.
30 Mar 2012late filing notice▼ Bad
Sylios Corp notified the SEC that its annual report would be filed late.
14 Nov 2011quarterly activities report▼ Bad
Sylios Corp reported quarterly revenue of $58 thousand and a net loss of $177 thousand for the period ended 2011-09-30.
22 Aug 2011quarterly activities report▼ Bad
Sylios Corp reported quarterly revenue of $6 thousand and a net loss of $97 thousand for the period ended 2011-06-30.
15 Aug 2011late filing notice▼ Bad
Sylios Corp notified the SEC that its quarterly report would be filed late.
16 May 2011late filing notice▼ Bad
Sylios Corp notified the SEC that its quarterly report would be filed late.
22 Dec 2010material agreement● Neutral
US Natural Gas Corp's subsidiary E2 Investments renegotiated a 2009 note with Harlis Trust, cutting the amount owed from $396,500 to $20,000 in exchange for handing over lease assignments, rights-of-way and deeds of trust -- debt relief traded for real assets.
15 Nov 2010quarterly activities report▼ Bad
Sylios Corp reported quarterly revenue of $136 thousand and a net loss of $127 thousand for the period ended 2010-09-30.
21 Oct 2010capital raising announcement▼ BadMajor
The company took on its first toxic convertible note, borrowing $40,000 from Asher Enterprises convertible at 58% of the recent trading price -- a structure that profits the lender more as the stock falls.