31 Dec 2020director interest notice● Neutral
Yuma Energy, Inc. 10%+ owner Willem Mesdag disposed of 2,381,789 shares via option/appreciation-right settlement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 Dec 2020substantial holder notice● Neutral
Red Mountain Capital Partners LLC, RMCP PIV DPC, L.P, RMCP PIV DPC II, L.P, RMCP DPC LLC, RMCP DPC II LLC, RMCP GP LLC, Red Mountain Capital Management, Inc, Willem Mesdag reported a Yuma Energy, Inc. shareholding of 421,615 shares (23.40% of votes) in a periodic institutional filing.
20 Oct 2020bankruptcy or receivership▼ BadMajor
Yuma's Chapter 11 case converted to Chapter 7 liquidation after its planned asset auction drew only minimal bids amid the 2020 oil-price collapse and unresolved well problems, and secured creditor YE Investment (Red Mountain) could not agree on a plan with the Unsecured Creditors Committee.
24 Apr 2020listing compliance notice● NeutralMajor
Yuma Energy, Inc.'s exchange filed to remove a class of its securities from listing.
16 Apr 2020bankruptcy or receivership▼ BadMajor
Yuma Energy and three subsidiaries filed voluntary Chapter 11 petitions in the U.S. Bankruptcy Court for the Northern District of Texas, intending an orderly 90-day auction of its Louisiana, Texas, Wyoming and Oklahoma properties. CRO Anthony Schnur briefly stepped down from his interim executive titles to join restructuring firm Ankura Consulting, then was immediately reappointed Chief Restructuring Officer through Ankura.
7 Apr 2020substantial holder notice● Neutral
Red Mountain Capital Partners LLC, RMCP PIV DPC, L.P, RMCP PIV DPC II, L.P, RMCP DPC LLC, RMCP DPC II LLC, RMCP GP LLC, Red Mountain Capital Management, Inc, Willem Mesdag reported a Yuma Energy, Inc. shareholding of 421,615 shares (23.40% of votes) in a periodic institutional filing.
7 Apr 2020material agreement termination▼ BadMajor
The Restructuring Agreement's required stockholder approval was never obtained by its December 31, 2019 deadline, so YE Investment/Red Mountain terminated the agreement and declared all amounts under the credit facility immediately due - reversing the lifeline extended just months earlier.
2 Dec 2019debt financing● NeutralMajor
Yuma and Red Mountain's YE Investment amended and restated the credit agreement, adding a new $2.0M delayed-draw term loan (10% interest, maturing September 2022, 10% prepayment penalty) on top of the $1.7M already purchased and reduced from the original bank debt.
20 Nov 2019director interest notice● Neutral
John Christopher Teets became a Yuma Energy, Inc. company insider (initial ownership filing).
14 Nov 2019quarterly activities report▼ Bad
Yuma Energy, Inc. reported quarterly revenue of $1.5 million and a net loss of $2.0 million for the period ended 2019-09-30.
14 Nov 2019quarterly activities report▼ Bad
Yuma Energy, Inc. reported quarterly revenue of $1.5 million and a net loss of $2.0 million for the period ended 2019-09-30.
3 Oct 2019substantial holder notice● Neutral
Red Mountain Capital Partners LLC, RMCP PIV DPC, L.P, RMCP PIV DPC II, L.P, RMCP DPC LLC, RMCP DPC II LLC, RMCP GP LLC, Red Mountain Capital Management, Inc, Willem Mesdag reported a Yuma Energy, Inc. shareholding of 413,132 shares (23.10% of votes) in a periodic institutional filing.
2 Oct 2019debt financing● NeutralMajor
Red Mountain Capital Partners' affiliate YE Investment had purchased Yuma's entire ~$32.8M senior secured bank debt and, under a Restructuring and Exchange Agreement, cut it down to a $1.4M note convertible into common stock at about $0.129/share (5% interest, maturing 2022) - a drastic debt writedown that handed Red Mountain effective control, conditioned on stockholder approval by December 31, 2019.
18 Sept 2019material agreement▼ BadMajor
Yuma entered a forbearance agreement with YE Investment LLC - an affiliate of Red Mountain Capital Partners, already a Yuma shareholder since the 2016 Davis Petroleum merger - under which YE agreed not to enforce its rights over Yuma's existing loan defaults until October 26, 2019. The 8-K was signed by Anthony C. Schnur in the new role of Chief Restructuring Officer, confirming a formal restructuring was underway.
11 Sept 2019substantial holder notice● Neutral
Red Mountain Capital Partners LLC, RMCP PIV DPC, L.P, RMCP PIV DPC II, L.P, RMCP DPC LLC, RMCP DPC II LLC, RMCP GP LLC, Red Mountain Capital Management, Inc, Willem Mesdag reported a Yuma Energy, Inc. shareholding of 408,978 shares (22.90% of votes) in a periodic institutional filing.
3 Sept 2019listing compliance notice● NeutralMajor
NYSE American accepted Yuma's compliance plan and granted it a plan period through December 2020 to fix its equity deficiencies - a reprieve from immediate delisting, not a resolution of the underlying financial distress.
28 Aug 2019listing compliance notice▼ BadMajor
NYSE American issued a third listing deficiency notice: stockholders' equity had fallen further, to about $2.4M as of June 30, 2019, now also breaching a separate, lower $4.0M equity threshold on top of the still-unresolved June notice.
19 Aug 2019quarterly activities report▼ Bad
Yuma Energy, Inc. reported quarterly revenue of $1.7 million and a net loss of $3.6 million for the period ended 2019-06-30.
16 Aug 2019quarterly activities report▼ Bad
Yuma Energy, Inc. reported quarterly revenue of $1.7 million and a net loss of $3.6 million for the period ended 2019-06-30.
14 Aug 2019late filing notice▼ Bad
Yuma Energy, Inc. notified the SEC that its quarterly report would be filed late.
24 June 2019security holder rights change● NeutralMajor
To address the low-share-price delisting notice, Yuma's board approved a 1-for-15 reverse stock split, effective July 3, 2019, cutting shares outstanding from about 23.2M to about 1.5M. It fixed the price-compliance problem but did nothing for the company's underlying equity and liquidity shortfalls.
21 June 2019listing compliance notice▼ BadMajor
NYSE American cited Yuma for a second listing deficiency: stockholders' equity of $5,998,045 as of March 31, 2019, just under the $6.0M minimum required given its history of losses. Yuma had until mid-July to submit a compliance plan, with a cure deadline of December 2020.
14 June 2019agm notice● Neutral
Yuma Energy, Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
21 May 2019quarterly activities report▼ Bad
Yuma Energy, Inc. reported quarterly revenue of $4.0 million and a net loss of $15.7 million for the period ended 2019-03-31.
20 May 2019quarterly activities report▼ Bad
Yuma Energy, Inc. reported quarterly revenue of $4.0 million and a net loss of $15.7 million for the period ended 2019-03-31.
15 May 2019late filing notice▼ Bad
Yuma Energy, Inc. notified the SEC that its quarterly report would be filed late.
30 Apr 2019agm notice● Neutral
Yuma Energy, Inc. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
30 Apr 2019agm notice● Neutral
Yuma Energy, Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
30 Apr 2019auditor change▼ BadMajor
Moss Adams declined to stand for reappointment as Yuma's auditor shortly after its report on Yuma's 2018 financial statements included an explicit going-concern qualification - substantial doubt about the company's ability to continue as a going concern. Marcum LLP was appointed for fiscal 2019.
19 Apr 2019agm notice● Neutral
Yuma Energy, Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).