Camber Energy Faces NYSE Delisting Notice
Ticker: CEIN · Form: 8-K · Filed: Aug 7, 2024 · CIK: 1309082
| Field | Detail |
|---|---|
| Company | Camber Energy, INC. (CEIN) |
| Form Type | 8-K |
| Filed Date | Aug 7, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, stock-exchange
Related Tickers: CEI
TL;DR
CEI got a delisting notice from NYSE American - big trouble ahead.
AI Summary
Camber Energy, Inc. filed an 8-K on August 7, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company is facing potential delisting from the NYSE American, indicating it may not meet the exchange's ongoing financial or operational requirements.
Why It Matters
This filing signals potential financial distress or non-compliance with exchange rules, which could lead to the stock trading on a different exchange or over-the-counter, impacting liquidity and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's ability to remain listed on a major stock exchange, posing a significant risk to its operations and stock value.
Key Players & Entities
- Camber Energy, Inc. (company) — Registrant
- NYSE American (company) — Stock Exchange
- August 7, 2024 (date) — Filing Date
FAQ
What specific listing rule or standard has Camber Energy, Inc. failed to satisfy?
The filing states it is a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard' but does not specify the exact rule in the provided text.
What is the exact date of the earliest event reported in this 8-K filing?
The earliest event reported is August 7, 2024.
Which stock exchange is Camber Energy, Inc. potentially being delisted from?
Camber Energy, Inc. is potentially being delisted from the NYSE American.
What is Camber Energy, Inc.'s principal executive office address?
The principal executive offices are located at 12 Greenway Plaza, Suite 1100, Houston, Texas 77046.
What was Camber Energy, Inc.'s former company name before its current name?
The company was formerly known as Lucas Energy, Inc. and Panorama Investments Corp.
Filing Stats: 602 words · 2 min read · ~2 pages · Grade level 12.1 · Accepted 2024-08-07 16:11:39
Filing Documents
- cei_8k.htm (8-K) — 22KB
- 0001477932-24-004562.txt ( ) — 142KB
- cei-20240807.xsd (EX-101.SCH) — 6KB
- cei-20240807_lab.xml (EX-101.LAB) — 14KB
- cei-20240807_cal.xml (EX-101.CAL) — 1KB
- cei-20240807_pre.xml (EX-101.PRE) — 9KB
- cei-20240807_def.xml (EX-101.DEF) — 2KB
- cei_8k_htm.xml (XML) — 4KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On August 7, 2024, Camber Energy, Inc. (the "Company") received notice from the NYSE Regulation that it had suspended trading of the Company's common stock and determined to commence proceedings to delist the Company's common stock from the NYSE American as a result of its determination that the Company is no longer suitable for listing pursuant to Section 1003(f)(v) of the NYSE American Company Guide due to the low selling price of the Company's common stock. The Company has a right to a review of the staff's determination to delist the Company's common stock by the Listings Qualifications Panel of the Committee for Review of the Board of Directors of the NYSE American. The Company intends to request a review of the staff's determination and appeal this determination, however, there can be no assurance that the appeal will be successful. The NYSE will apply to the Securities and Exchange Commission to delist the Company's common stock pending completion of applicable procedures, including any appeal by the Company of the staff's determination. The Company's common stock is expected to begin trading under its current trading symbol "CEI" on the OTC Pink Market operated on the OTC Markets system effective with the open of the markets on August 8, 2024. The Company intends to apply to have its common stock quoted on the OTCQB Venture Market on the OTC Markets; however, there can be no assurances that its common stock will be approved, or will continue, to be traded on such market. 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: August 7, 2024 By: /s/ James A. Doris Name: James A. Doris Title: Chief Executive Officer 3