Camber Energy Restates Financials
Ticker: CEIN · Form: 8-K · Filed: Aug 23, 2024 · CIK: 1309082
| Field | Detail |
|---|---|
| Company | Camber Energy, INC. (CEIN) |
| Form Type | 8-K |
| Filed Date | Aug 23, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | bearish |
Sentiment: bearish
Topics: financial-restatement, accounting-issues, internal-controls
Related Tickers: CEI
TL;DR
CEI is restating financials - expect delays and potential accounting issues.
AI Summary
Camber Energy, Inc. announced on August 21, 2024, that it will not rely on previously issued financial statements for the fiscal year ended December 31, 2023, and interim periods thereafter. This decision stems from an ongoing review of its financial reporting and internal controls. The company is working to restate its financial statements and expects to file them as soon as possible.
Why It Matters
This indicates potential accounting issues or control weaknesses that could impact investor confidence and the accuracy of past financial reporting.
Risk Assessment
Risk Level: high — Non-reliance on previously issued financial statements suggests significant accounting or internal control issues that could lead to restatements and uncertainty.
Key Players & Entities
- Camber Energy, Inc. (company) — Registrant
- August 21, 2024 (date) — Date of earliest event reported
- December 31, 2023 (date) — Fiscal year end for previously issued financial statements
FAQ
What specific periods are affected by the non-reliance on financial statements?
The company will not rely on previously issued financial statements for the fiscal year ended December 31, 2023, and interim periods thereafter.
What is the primary reason for not relying on the previously issued financial statements?
The decision is due to an ongoing review of the company's financial reporting and internal controls.
What is Camber Energy, Inc. doing in response to this issue?
The company is working to restate its financial statements and expects to file them as soon as possible.
When was the earliest event reported in this filing?
The earliest event reported was on August 21, 2024.
What is Camber Energy's state of incorporation and IRS Employer Identification Number?
Camber Energy, Inc. is incorporated in Nevada and has an IRS Employer Identification Number of 20-2660243.
Filing Stats: 894 words · 4 min read · ~3 pages · Grade level 13.7 · Accepted 2024-08-23 17:00:11
Filing Documents
- cei_8k.htm (8-K) — 25KB
- 0001477932-24-005238.txt ( ) — 143KB
- cei-20240821.xsd (EX-101.SCH) — 6KB
- cei-20240821_lab.xml (EX-101.LAB) — 14KB
- cei-20240821_cal.xml (EX-101.CAL) — 1KB
- cei-20240821_pre.xml (EX-101.PRE) — 9KB
- cei-20240821_def.xml (EX-101.DEF) — 2KB
- cei_8k_htm.xml (XML) — 4KB
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 23, 2024 By: /s/ James A. Doris Name: James A. Doris Title: Chief Executive Officer 3