"The Company intends to consider available alternatives, potentially including a reverse stock split, in order to cure the stock price deficiency and return to compliance with the NYSE continued listing requirement. Under the NYSE's rules, if the Company determines that it will cure the stock price deficiency by taking an action that will require approval by its shareholders at the next annual meeting of shareholders, such as a reverse stock split, the six-month period described above will extend to shortly after such annual meeting. " Sorry the ratio was not disclosed that I'm aware of ?Maybe some one on this message board could help out ?
Form 8-K for SANDRIDGE ENERGY INC
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standa
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On July 23, 2015, SandRidge Energy, Inc. (the "Company") was notified by the New York Stock Exchange (the "NYSE") that it was not in compliance with the continued listing standards set forth in Section 802.01C of the NYSE Listed Company Manual because the average closing price of the Company's common stock was less than $1.00 over a consecutive 30 trading-day period.
The Company intends to notify the NYSE by August 6, 2015 that it intends to cure the deficiency and to return to compliance with the NYSE continued listing requirement. The Company can avoid delisting if, during the six-month period following receipt of the NYSE notice, on the last trading-day of any calendar month, the Company's common stock has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading-day of that month. The Company intends to consider available alternatives, potentially including a reverse stock split, in order to cure the stock price deficiency and return to compliance with the NYSE continued listing requirement. Under the NYSE's rules, if the Company determines that it will cure the stock price deficiency by taking an action that will require approval by its shareholders at the next annual meeting of shareholders, such as a reverse stock split, the six-month period described above will extend to shortly after such annual meeting.
If the Company's common stock ultimately were to be delisted for any reason, including failure to regain compliance with Section 802.01C of the NYSE Listed Company Manual, it could negatively impact the Company by (i) reducing the liquidity and market price of the Company's common stock; (ii) reducing the number of inves
OT Could be worse ? we could have bought 100 shares of BIIB when it broke 460$ to the upside like so many investor did on the advise of their money managers .
were traded at the close .more than 10% of the daily vol .which was a low volume session .Overall markets were down appx Dow163 -s&p 22 -nas 57 points . oil/gas were down on the day again .this too shall pass imo .have a great weekend .
Appx 10 trading days till earnings release ? hopefully ge will shed some light going forward with the wells notice among other item's ? bwrk ?
Form 8-K for MAGNUM HUNTER RESOURCES CORP
Regulation FD Disclosure, Other Events, Financial Statements and Exh
Item 7.01 Regulation FD Disclosure
Dismissal of Remaining Derivative Securities Case
As previously reported by Magnum Hunter Resources Corporation (the "Company") in its filings with the Securities and Exchange Commission (the "SEC"), including the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2015, a series of stockholder derivative cases (the "Derivative Cases") were filed against certain of the Company's officers and directors alleging that the individual defendants unjustly enriched themselves and breached their fiduciary duties to the Company by publishing allegedly false and misleading statements to the Company's investors regarding the Company's business and financial position and results, and allegedly failing to maintain adequate internal controls. As previously reported, all of the Derivative Cases were previously dismissed except for one suit filed on March 19, 2014 by Richard Harveth (the "Harveth Case") in the 125th District Court of Harris County, Texas (the "Harris County Court"). The Company and the individual defendants had previously moved for summary judgment with respect to the Harveth Case.
On June 22, 2015, the Harris County Court issued an Order and Final Judgment granting the Company's and the individual defendants' motion for summary judgment in its entirety and entering a final judgment dismissing the Harveth Case. The plaintiffs may file an appeal. A copy of the Order and Final Judgment is attached as Exhibit 99.1 to this Current Report on Form 8-K.
With the dismissal of the Harveth Case, the Company and the individual defendants have now been successful in defending all of the Derivative Cases. In addition, as previously reported in a Current Report on Form 8-K filed by the Company with the SEC on June 30, 2015, all of the class action complaints previously filed against the Company and certain of its officers relating to alleged accounting issues have also been dismissed. Accordingly, all of the lawsuits filed by or on behalf of shareholders of the Company relating to the allegations described in the first paragraph of this Item 7.01 and this paragraph have now been dismissed and no cash settlements of any form have been paid by the Company or any of the Company's insurance carriers in connection with these lawsuits.
In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 of this Current Report on Form 8-K, including the related Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any registration statement or other filing of the Company under the Securities Act or the Exchange Act, except as otherwise expressly stated in such filing.
Item 8.01 Other Events
The disclosure set forth in Item 7.01 of this Current Report on Form 8-K, but excluding Exhibit 99.1, is incorporated by reference into this Item 8.01.
Item 9.01 Financial Statements and Exhibits.
99.1 Order and Final Judgment of the 125th District Court of Harris
County, Texas, dated July 22, 2015.
1. Demand will rise: Check
In theory: The crash in prices that started a year ago should stimulate demand. Cheap oil means cheaper manufacturing, cheaper shipping, more summer road trips.
In practice: Despite a softening Chinese economy, global demand has indeed surged by about 1.6 million barrels a day over last year's average, according to the report.
2. Spending on new oil will fall: Check
In theory: Lower oil prices should force energy companies to cut spending on new oil supplies, and the cost of drilling and pumping should decline.
In practice: Sure enough, since October the number of rigs actively drilling for new oil around the world has declined by about 42 percent. More than 70,000 oil workers have lost their jobs globally, and in 2015 alone listed oil companies have cut about $129 billion in capital expenditures.
3. Stock prices remain low: Check
In theory: While oil markets rebalance themselves, stock prices of oil companies should remain cheap, setting the stage for a strong rebound.
In practice: Yep. The oil majors are trading near 35-year lows, using two different methods of valuation.
4. Oil supply will drop: Uh-oh
In theory: With strong demand for oil and less money for drilling and exploration, the global oil glut should diminish. Let the recovery commence.
In practice: The opposite has happened. While U.S. production has leveled off since June, OPEC has taken up the role of market spoiler.
OPEC Production Surges in 2015
For now, Morgan Stanley is sticking with its original thesis that prices will improve, largely because OPEC doesn't have much more spare capacity to fill and because oil stocks have already been hammered.
But another possibility is that the supply of new oil coming from outside the U.S. may continue to increase as sanctions against Iran dissolve and if the situation in Libya improves, the Morgan Stanley analysts said. U.S. production could also rise again.
Sounds more positive than the headlines .imo
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Definition of DUE DILIGENCE
: the care that a reasonable person exercises to avoid harm to other persons or their property
: research and analysis of a company or organization done in preparation for a business transaction (as a corporate merger or purchase of securities)
" Seriously- not everything has to be over analyzed" yes it does .