29 June 2015late filing notice▼ Bad
T-REX OIL, INC. notified the SEC that its annual report would be filed late.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
23 June 2015business combination● Neutral
This is Amendment No. 3 to the December 2014 filing on the Terex takeover, again filed to revise Item 2.01. The visible text repeats the earlier deal description with no new figures, and the shown portion does not say what changed.
15 June 2015substantial holder notice● Neutral
RMI GmbH, a Germany company disclosed a new substantial T-REX OIL, INC. shareholding (12.96% of votes).
15 June 2015substantial holder notice● Neutral
Rainer Mayerhofer disclosed a new substantial T-REX OIL, INC. shareholding (2.82% of votes).
11 June 2015substantial holder notice● Neutral
Eckhardt Huber-Flotho disclosed a new substantial T-REX OIL, INC. shareholding (8.90% of votes).
13 May 2015business combination● Neutral
This is Amendment No. 2 to the December 2014 filing on the Terex takeover, filed to revise Item 2.01. The visible text repeats the earlier description of the deal (7,385,700 shares, Terex as accounting acquirer, up to $10 million planned 2015 spending); the shown portion does not say what changed.
13 May 2015substantial holder notice● Neutral
Werner Biberacher disclosed a new substantial T-REX OIL, INC. shareholding (9.67% of votes).
13 May 2015substantial holder notice● Neutral
SchwabenKapital GmbH, a Germany company disclosed a new substantial T-REX OIL, INC. shareholding (9.67% of votes).
29 Apr 2015capital raising announcement▲ GoodMajor
On April 26, 2015 T-Rex received a subscription from NRC Holding, LTD. to buy 2,800,000 restricted shares for $6,020,000, with the money due in $250,000 tranches by June 30, 2015. The company says the funds are for operations and acquisitions. This is part of the stated plan to raise money in 2015, but the cash is not yet received and the new shares dilute existing holders (inference).
23 Apr 2015securities registration● Neutral
T-REX OIL, INC. filed notice of an exempt private placement.
15 Apr 2015asset acquisition disposition● NeutralMajor
On April 9, 2015 T-Rex took on agreements to buy out dissenting WIOG shareholders, owing $1,001,333.75 within 6 months, secured by a pledge of WIOG's assets. Completing this buyout of the remaining 17% would give T-Rex 100% of WIOG. This adds a cash obligation and continues the WIOG deal from the March 28 filing; it replaces, for this 17%, the escrowed-share route described earlier.
1 Apr 2015asset acquisition disposition● NeutralMajor
On March 28, 2015 T-Rex signed a share exchange agreement for Western Interior Oil & Gas Corp. (Wyoming). It issued 7,470,000 restricted shares for 83% of WIOG at closing, and 1,530,000 more shares are held in escrow for the other 17% (9,000,000 in total). WIOG is described as having about 16,000 gross acres in Wyoming basins producing over 50 net barrels of oil a day, and two WIOG-linked directors (Werner Biberacher and Eckhardt Huber-Flotho) are to join the board on April 6, 2015. This adds Wyoming assets to the Terex business and issues many new shares, which dilutes existing holders (inference).
19 Mar 2015substantial holder notice● Neutral
Allen Heim disclosed a new substantial T-REX OIL, INC. shareholding (9.70% of votes).
13 Mar 2015business combination● Neutral
This amends the December 2014 filing on the Terex takeover, said to revise the pro forma financial statements. The text shown again says T-Rex issued 7,385,700 restricted shares one-for-one for all of Terex, with 900,000 options ($0.10) and 800,000 warrants ($1.00) swapped in, and that Terex is treated as the accounting acquirer. Note the share count (7,385,700) and the option/warrant counts (900,000 and 800,000) differ from the 7,378,200, 800,000 and 350,000 in the earlier summary; the amended figures are the ones in this filing.
26 Feb 2015substantial holder notice● Neutral
Martin Gottlob disclosed a new substantial T-REX OIL, INC. shareholding (9.60% of votes).
19 Feb 2015substantial holder notice● Neutral
Donald Walford disclosed a new substantial T-REX OIL, INC. shareholding (14.09% of votes).
17 Feb 2015quarterly activities report▼ Bad
T-REX OIL, INC. reported a quarterly net loss of $229 thousand for the period ended 2014-12-31.
17 Feb 2015substantial holder notice● Neutral
Hound Partners, LLC, Hound Performance, LLC, Jonathan Auerbach, Hound Partners Offshore Fund, LP disclosed a new substantial T-REX OIL, INC. shareholding (4.22% of votes).
27 Jan 2015securities registration● Neutral
T-REX OIL, INC. amended a filing by which it filed notice of an exempt private placement.
30 Dec 2014securities registration● Neutral
T-REX OIL, INC. filed notice of an exempt private placement.
24 Dec 2014business combination● NeutralMajor
On December 22, 2014 T-Rex Oil (formerly Rancher Energy) acquired Terex Energy Corp. by issuing 7,378,200 restricted shares one-for-one, plus 800,000 options and 350,000 warrants exchanged for Terex's. Terex had bought a 52% stake in August 2014 for $1.3 million, and the company changed its name and did a 1-for-350 reverse split in October 2014. Terex is treated as the accounting acquirer, so its history replaces the company's financials, and the company now plans up to $10 million of 2015 spending in the Rocky Mountain region, to be raised through private placements (this is stated as a plan). This replaces the old shell business with an operating oil and gas company.
19 Nov 2014quarterly activities report▼ Bad
T-REX OIL, INC. reported a quarterly net loss of $992 thousand for the period ended 2014-09-30.
14 Nov 2014late filing notice▼ Bad
T-REX OIL, INC. notified the SEC that its quarterly report would be filed late.
11 Aug 2014quarterly activities report▼ Bad
T-REX OIL, INC. reported a quarterly net loss of $326 thousand for the period ended 2014-06-30.
9 May 2014material agreement▲ GoodMajor
On May 5, 2014 Rancher and PetroShare settled their dispute: PetroShare paid $100,000 on May 6 and owes $1,042,237 by June 16, 2014, with mutual releases on the final payment. Once paid, the Participation Agreement and Rancher's rights in the Kowach and Voloshin wells end. Until then Rancher keeps its interest and says it is not a shell company, and it intends to look for other acquisitions. The final payment was not yet assured.
18 Mar 2014business combination▼ BadMajor
On March 12, 2014 PetroShare terminated the non-binding merger letter of intent with Rancher, after having told Rancher on March 10 that it owed $283,791 for well completion costs and risked suspension of its rights by April 9. PetroShare says Rancher's interest in the two wells falls to 25%; Rancher disagrees and is considering its options. This ends the proposed merger.
13 Nov 2013quarterly activities report▼ Bad
T-REX OIL, INC. reported a quarterly net loss of $209 thousand for the period ended 2013-09-30.
9 Oct 2013asset acquisition disposition● NeutralMajor
On October 3, 2013 Rancher signed a participation agreement with PetroShare Corp. to drill up to two Niobrara wells in Moffat County, Colorado, and paid about $507,748 plus $39,590 for a 30% working interest (25.309% net revenue interest) in the first well, Kowach 3-25. The interest drops to 25% if a business combination with PetroShare, under a non-binding letter of intent, is not completed. The filing says Rancher was a shell company before this and is now not, but could become one again if the wells fail. This is the first new oil and gas asset since the 2011 sale; 119,862,791 shares are outstanding.
14 Aug 2013quarterly activities report▼ Bad
T-REX OIL, INC. reported a quarterly net loss of $148 thousand for the period ended 2013-06-30.
4 Mar 2013auditor change● Neutral
Effective February 27, 2013 Rancher's board dismissed auditor Borgers & Cutler CPA's PLLC (appointed in February 2012) and engaged BF Borgers CPA PC, approved by the audit committee. The firm's report for the year ended March 31, 2012 had a going-concern paragraph, and the filing states there were no disagreements.