Empire Petroleum Corp. Files 8-K: Agreements, Equity Sales
Ticker: EP · Form: 8-K · Filed: Aug 6, 2024 · CIK: 887396
| Field | Detail |
|---|---|
| Company | Empire Petroleum CORP (EP) |
| Form Type | 8-K |
| Filed Date | Aug 6, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $2,000,000, $1,060,004, $5.16 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, equity-sale, corporate-action
TL;DR
Empire Petroleum Corp. filed an 8-K on July 31, 2024, detailing new agreements, terminated agreements, and equity sales.
AI Summary
Empire Petroleum Corp. entered into a material definitive agreement on July 31, 2024, related to its financial obligations. The company also reported the termination of a material definitive agreement and other events. The filing details unregistered sales of equity securities and includes financial statements and exhibits.
Why It Matters
This 8-K filing indicates significant corporate actions, including new agreements and the sale of equity, which could impact the company's financial structure and future operations.
Risk Assessment
Risk Level: medium — The filing involves material definitive agreements, termination of agreements, and unregistered sales of equity, suggesting potential financial restructuring or strategic shifts that carry inherent risks.
Key Players & Entities
- EMPIRE PETROLEUM CORP (company) — Filer
- 01 Energy & Transportation (company) — Organization Name
- AMERICOMM RESOURCES CORP (company) — Former Company Name
- AMERICOMM CORP (company) — Former Company Name
FAQ
What was the nature of the material definitive agreement entered into by Empire Petroleum Corp. on July 31, 2024?
The filing indicates the entry into a material definitive agreement on July 31, 2024, which created a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant.
What other material agreement was addressed in the filing?
Empire Petroleum Corp. also reported the termination of a material definitive agreement.
Did Empire Petroleum Corp. engage in any equity transactions?
Yes, the filing reports unregistered sales of equity securities.
When was the report filed and what is the earliest event date?
The report was filed on August 6, 2024, with the earliest event reported being July 31, 2024.
What is Empire Petroleum Corp.'s primary industry?
Empire Petroleum Corp. is in the Crude Petroleum & Natural Gas industry, with SIC code 1311.
Filing Stats: 1,120 words · 4 min read · ~4 pages · Grade level 11.2 · Accepted 2024-08-05 18:14:09
Key Financial Figures
- $2,000,000 — ncipal amount at any time not to exceed $2,000,000 to fund certain workover and recompleti
- $1,060,004 — d interest under the Loan Agreement was $1,060,004 (the "Outstanding Loan Amount"). As pay
- $5.16 — Loan Amount based on an agreed price of $5.16 per share, which was the closing price
Filing Documents
- emp_8k-18858.htm (8-K) — 42KB
- exh10.htm (EX-10) — 45KB
- 0001072613-24-000599.txt ( ) — 263KB
- ep-20240731.xsd (EX-101.SCH) — 3KB
- ep-20240731_lab.xml (EX-101.LAB) — 33KB
- ep-20240731_pre.xml (EX-101.PRE) — 22KB
- emp_8k-18858_htm.xml (XML) — 3KB
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. EMPIRE PETROLEUM CORPORATION Date: August 5, 2024 By: /s/ Michael R. Morrisett Michael R. Morrisett President and Chief Executive Officer 4