Camber Energy Terminates Material Definitive Agreement
Ticker: CEIN · Form: 8-K · Filed: Mar 19, 2024 · CIK: 1309082
| Field | Detail |
|---|---|
| Company | Camber Energy, INC. (CEIN) |
| Form Type | 8-K |
| Filed Date | Mar 19, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: agreement-termination, 8-k
Related Tickers: CEI
TL;DR
Camber Energy just terminated a big deal, details scarce.
AI Summary
Camber Energy, Inc. announced on March 13, 2024, the termination of a material definitive agreement. The company, formerly known as Lucas Energy, Inc., filed this 8-K report on March 19, 2024, detailing the event. No specific details regarding the agreement or the financial implications of its termination were provided in the filing.
Why It Matters
The termination of a material definitive agreement can significantly impact a company's operations, financial standing, and future strategic direction.
Risk Assessment
Risk Level: medium — Termination of a material agreement introduces uncertainty regarding the company's business relationships and financial stability.
Key Players & Entities
- Camber Energy, Inc. (company) — Registrant
- March 13, 2024 (date) — Date of earliest event reported
- March 19, 2024 (date) — Filing date
- Lucas Energy, Inc. (company) — Former company name
FAQ
What was the material definitive agreement that was terminated?
The filing does not specify the nature or details of the material definitive agreement that was terminated.
What is the effective date of the termination?
The earliest event reported, which is the termination, occurred on March 13, 2024.
What are the financial implications of this termination for Camber Energy?
The filing does not provide information on the financial implications of the termination.
Was this termination a mutual decision?
The filing does not state whether the termination was a mutual decision or initiated by one party.
Are there any other agreements affected by this termination?
The filing does not mention any other agreements being affected by this termination.
Filing Stats: 535 words · 2 min read · ~2 pages · Grade level 11 · Accepted 2024-03-19 17:00:27
Filing Documents
- cei_8k.htm (8-K) — 23KB
- cei_ex101.htm (EX-10.1) — 11KB
- 0001477932-24-001332.txt ( ) — 154KB
- cei-20240313.xsd (EX-101.SCH) — 6KB
- cei-20240313_lab.xml (EX-101.LAB) — 14KB
- cei-20240313_cal.xml (EX-101.CAL) — 1KB
- cei-20240313_pre.xml (EX-101.PRE) — 9KB
- cei-20240313_def.xml (EX-101.DEF) — 2KB
- cei_8k_htm.xml (XML) — 4KB
02 Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement. As previously disclosed in the Camber Energy, Inc. (the " Company ") Current Report on Form 8-K filed with the Securities and Exchange Commission on January 23, 2023, the Company entered into a Membership Interest Purchase Agreement (the " MIPA ") with RESC Renewables Holdings, LLC (the " Seller ") to acquire all of the membership interests of New Rise Renewables, LLC upon the terms and conditions specified in the MIPA. On March 13, 2024, the Company and the Seller agreed by mutual consent and pursuant to the terms of a termination agreement (the " Termination Agreement ") to terminate the MIPA effective March 13, 2024, subject to the survival of certain confidentiality obligations. The foregoing summary of the Termination Agreement is qualified in its entirety by the full text of the Termination Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Termination Agreement, by and between Camber Energy, Inc. and RESC Renewables Holdings, LLC, effective as of March 13, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CAMBER ENERGY, INC. Date: March 19, 2024 By: /s/ James A. Doris Name: James A. Doris Title: Chief Executive Officer 3