1 Apr 2025late filing notice▼ Bad
VICTORY CLEAN ENERGY, 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.
19 Nov 2024quarterly activities report▼ Bad
VICTORY CLEAN ENERGY, INC. reported quarterly revenue of $0 and a net loss of $1.2 million for the period ended 2024-09-30.
14 Nov 2024late filing notice▼ Bad
VICTORY CLEAN ENERGY, INC. notified the SEC that its quarterly report would be filed late.
30 Oct 2024quarterly activities report▼ Bad
VICTORY CLEAN ENERGY, INC. reported quarterly revenue of $0 and a net loss of $1.2 million for the period ended 2024-09-30.
17 Oct 2024quarterly activities report▼ Bad
VICTORY CLEAN ENERGY, INC. reported quarterly revenue of $0 and a net loss of $1.2 million for the period ended 2024-09-30.
21 Aug 2024material agreement● NeutralMajor
On August 20, 2024, Victory signed agreements (effective April 7, 2024) with Proton Power for an exclusive, royalty-free perpetual license to make hydrogen from biomass, excluding diesel-compatible fuels and graphene. Victory must pay $100,000,000 within five years, with weekly payments of $86,000 until $25,000,000 is paid (reducible to no less than $50,000 until November 15, 2024, with the difference due by December 15, 2024). It also gets 50% of certain Proton graphene revenues. The filing does not say how Victory will fund this. Chairman Headrick had earlier given Victory a non-exclusive license to the same technology and says he has no stake in Proton.
1 July 2024auditor change▼ Bad
On June 27, 2024, Victory hired Astra Audit & Advisory to audit 2024 and dismissed Accell, which had been engaged only in January 2024. Accell's reports for 2022 and 2023 had no adverse opinion but included a going-concern warning and noted material weaknesses in internal controls; the filing reports no disagreements. This is the second auditor change in about five months.
16 May 2024late filing notice▼ Bad
VICTORY CLEAN ENERGY, INC. notified the SEC that its quarterly report would be filed late.
1 Apr 2024late filing notice▼ Bad
VICTORY CLEAN ENERGY, INC. notified the SEC that its annual report would be filed late.
14 Feb 2024auditor change● Neutral
Victory dismissed its auditor Weaver and Tidwell on January 29, 2024, and had engaged Accell Audit and Compliance on January 26, 2024 to audit fiscal 2023. The filing reports no disagreements or reportable events with Weaver. It follows the January merger closing; the filing does not state a reason for the change. Financial statements of H2EG are to follow in a later amendment.
5 Jan 2024business combination▼ BadMajor
The H2EG merger closed on January 1, 2024, making H2EG a wholly owned subsidiary and shifting control: H2EG holders own about 81% of Victory's common stock. Zamber, Grenley and Salas resigned from the board; Headrick (Executive Chairman), McGinley (CEO) and Goulden joined, and DeLeon stayed as a director but stepped down as CEO. Victory also agreed with Flagstaff International to sell 67,797 Series E preferred shares for $4,000,000, paid in 16 monthly $250,000 installments starting February 1, 2024. This resolves the merger thread; the filing says the Common Financing raised about $1,212,000.
4 Dec 2023business combination▼ BadMajor
Victory disclosed Amendment No. 1 to the H2EG merger agreement (December 1, 2023). Changes: H2EG holders get 243,000,000 shares at closing and 175,822,708 after an authorized-share increase; VPEG gets 7,866,034 shares and 43,095,923 pre-funded warrants for its notes; the Series D preferred holder's 8,333 shares are cancelled for 3,961,539 pre-funded warrants; Pro-Tech now goes to Pro-Tech Holdings, LLC instead of VPEG if affiliate Flagstaff commits to buy $4,000,000 of new preferred stock; the private placement shrinks from the $5,000,000 target (at $0.059 per share) to $1,212,000; and authorized shares are to be raised to at least 1,170,318,154. This revises the earlier plan to give Pro-Tech to VPEG.
4 Dec 2023business combination▼ BadMajor
Victory told shareholders that a majority of its board will change when the H2 Energy Group merger closes (no vote needed). The July 2023 deal was amended on December 1, 2023: H2EG holders get 418,822,708 Victory shares (243,000,000 at closing, 175,822,708 after authorized shares are increased) and will own 81% at closing, up from the 'at least 70%' first announced. VPEG will convert its note into 7,866,034 shares plus 43,095,923 pre-funded warrants, and Victory expects to raise about $1,212,000 in a private placement plus $4,000,000 of preferred stock within 16 months. Existing holders are heavily diluted.
14 Nov 2023quarterly activities report▼ Bad
VICTORY CLEAN ENERGY, INC. reported quarterly revenue of $0 and a net loss of $125 thousand for the period ended 2023-09-30.
19 Sept 2023securities registration● Neutral
VICTORY CLEAN ENERGY, INC. filed notice of an exempt private placement.
14 Aug 2023quarterly activities report▼ Bad
VICTORY CLEAN ENERGY, INC. reported quarterly revenue of $0 and a net loss of $46 thousand for the period ended 2023-06-30.
26 July 2023business combination● NeutralMajor
On July 25, 2023, Victory signed a merger agreement with H2 Energy Group, a green hydrogen company; H2EG will become a wholly owned subsidiary, and its shareholders will receive at least 70% of Victory's shares after the merger (final ratio to be set before closing, expected Q4 2023, subject to due diligence and consents). Existing shareholders would be left with 30% or less of the company. Within 30 days of closing Victory also agrees to transfer Pro-Tech Hardbanding (bought in 2018) to affiliate VPEG in exchange for converting certain convertible notes VPEG holds. This is a major change of direction away from oilfield technology.
15 May 2023quarterly activities report▼ Bad
VICTORY CLEAN ENERGY, INC. reported quarterly revenue of $0 and a net loss of $31 thousand for the period ended 2023-03-31.
3 Apr 2023late filing notice▼ Bad
VICTORY CLEAN ENERGY, INC. notified the SEC that its annual report would be filed late.
14 Nov 2022quarterly activities report▼ Bad
VICTORY CLEAN ENERGY, INC. reported quarterly revenue of $328 thousand and a net loss of $143 thousand for the period ended 2022-09-30.
15 Aug 2022quarterly activities report● Neutral
VICTORY CLEAN ENERGY, INC. reported quarterly revenue of $558 thousand and net income of $7 thousand for the period ended 2022-06-30.
13 May 2022quarterly activities report▼ Bad
VICTORY CLEAN ENERGY, INC. reported quarterly revenue of $333 thousand and a net loss of $81 thousand for the period ended 2022-03-31.
1 Apr 2022late filing notice▼ Bad
VICTORY CLEAN ENERGY, INC. notified the SEC that its annual report would be filed late.
12 Nov 2021quarterly activities report▼ Bad
VICTORY CLEAN ENERGY, INC. reported quarterly revenue of $257 thousand and a net loss of $51 thousand for the period ended 2021-09-30.
10 Aug 2021quarterly activities report▼ Bad
VICTORY CLEAN ENERGY, INC. reported quarterly revenue of $206 thousand and a net loss of $189 thousand for the period ended 2021-06-30.
10 Aug 2021quarterly activities report▼ Bad
VICTORY CLEAN ENERGY, INC. reported quarterly revenue of $206 thousand and a net loss of $189 thousand for the period ended 2021-06-30.
16 July 2021quarterly activities report▼ Bad
VICTORY CLEAN ENERGY, INC. reported quarterly revenue of $206 thousand and a net loss of $189 thousand for the period ended 2021-06-30.
19 May 2021late filing notice▼ Bad
VICTORY CLEAN ENERGY, INC. notified the SEC that its quarterly report would be filed late.
1 Apr 2021late filing notice▼ Bad
VICTORY CLEAN ENERGY, INC. notified the SEC that its annual report would be filed late.
16 Nov 2020quarterly activities report● Neutral
VICTORY CLEAN ENERGY, INC. reported quarterly revenue of $131 thousand for the period ended 2020-09-30.