Welcome to our dedicated page for Camber Energy news (Ticker: CEI), a resource for investors and traders seeking the latest updates and insights on Camber Energy stock.
Camber Energy, Inc. (NYSE American: CEI) is a diversified energy company focused on providing innovative energy and power solutions across North America. Through its majority-owned subsidiaries, the company operates in two main segments: Oil & Gas and Power Generation.
The Power Generation segment is the cornerstone of Camber's operations, delivering custom energy solutions to commercial and industrial clients. This segment's revenue is driven by its majority-owned subsidiary, Simson-Maxwell, Ltd., which manufactures and supplies efficient power generation products and services. These include combined heat and power (CHP) systems, tier 4 final diesel and natural gas engines, and renewable energy systems incorporating solar and wind technologies. Their innovative solutions help clients reduce operational costs while promoting environmental responsibility.
Camber Energy's Oil & Gas segment focuses on exploration and production activities, with properties located in central and southern United States. This segment complements the company's diversified energy portfolio by leveraging traditional energy sources to support modern energy needs.
One of Camber Energy's significant achievements includes the issuance of multiple patents related to their innovative Electric Transmission and Distribution Open Conductor Detection Systems and Broken Conductor Protection technologies. These technologies are pivotal in mitigating wildfire risks and enhancing grid stability by detecting faults in transmission lines and de-energizing them before they hit the ground.
In addition to its core business segments, Camber holds exclusive licenses for a patented carbon-capture system in Canada, and is actively involved in the commercialization of a patented Medical & Bio-Hazard Waste Treatment system using Ozone Technology. These ventures position Camber at the forefront of clean and sustainable energy solutions.
Camber's financial condition as reported in its recent filings indicates a commitment to transparency and compliance. Notably, the company is addressing a going concern qualification from its auditors, reflecting a proactive approach to financial management and regulatory requirements.
For continuous updates and detailed information, Camber Energy has established a robust communication channel with investors through platforms like Webull, ensuring accessibility and engagement with its retail investor community.
For more information, please visit the company's website at www.camber.energy.
Camber Energy (NYSE American: CEI) announced on January 14, 2022, that the NYSE American granted an extension for filing delayed financial reports. The company is currently non-compliant with listing standards due to the late submission of essential reports, including Form 10-K and several Form 10-Qs for 2021. The new deadline to file these reports is set for February 15, 2022. Failure to comply may lead to delisting proceedings, although shares remain unaffected currently. A "BC" indicator will be added to the trading symbol until compliance is restored.
Camber Energy, Inc. (NYSE American:CEI) announced on January 4, 2022, that it received a compliance notification from NYSE American regarding its failure to hold an annual meeting for the fiscal year ending December 31, 2020, by the December 31, 2021 deadline. The company plans to address this by scheduling the annual meeting after filing several overdue reports, including its Form 10-K and Form 10-Qs for 2021. Although a 'BC' indicator will be attached to its trading symbol during this period, the company's operations and SEC reporting are unaffected unless compliance is not achieved, risking delisting.
Camber Energy, Inc. (NYSE American: CEI) announced an institutional investor's purchase of 10,544 shares of convertible preferred stock on December 31, 2021, for a total of $100 million. The acquisition includes $5 million in cash and four Promissory Notes totaling $95 million, payable in 2022. Each Note is linked to 2,636 shares of preferred stock. Additionally, warrants were issued allowing purchase of up to 100 million common shares at prices of $2.00 and $4.00 per share. This funding will facilitate new acquisitions and strategic initiatives throughout 2022.
Camber Energy has announced the successful closure of a $25 million loan transaction as of January 4, 2022. The funds will be utilized to redeem over 40% of its Series C Redeemable Convertible Preferred Stock, pay off a secured loan due on March 8, 2022, and provide working capital. The loan features a maturity date of January 1, 2027 and an interest rate tied to the Wall Street Journal Prime Rate, payable at maturity. This move is part of Camber's strategy to strengthen its financial position and support its growth initiatives in the energy sector.
Camber Energy, Inc. (NYSE American:CEI) announced amendments to its promissory notes totaling $20.5 million. The new terms include a maturity date of January 1, 2027, an interest rate tied to the Wall Street Journal Prime Rate, and a conversion option at $1.50 per share. This update follows the company's increase in authorized capital on December 30, 2021. Detailed amendments can be found in Camber's SEC filings. Camber is engaged in providing custom energy solutions and holds interests in oil and natural gas assets.
Camber Energy, Inc. (CEI) announced a $25 million loan agreement to improve its financial structure, set to close on December 31, 2021. The funds will be used to redeem outstanding Series C Redeemable Convertible Preferred Stock and settle secured loans. The loan has a maturity date of January 1, 2027, with an interest rate pegged to the Wall Street Journal Prime Rate. Additionally, existing Promissory Notes were amended to align with this loan's terms. The lender will receive warrants to purchase 50 million shares at specified prices, indicating strong lender confidence in the company’s future growth.
Camber Energy, Inc. (NYSE American:CEI) announced receipt of a letter from the NYSE American regarding its request for an extension to file overdue financial reports. The company is currently not compliant with the exchange's standards due to delayed filings, including the Form 10-K for the transition period ending December 31, 2020, and two Form 10-Q reports from 2021. An extension until January 14, 2022 has been granted, with a potential further extension until May 20, 2022. If compliance is not achieved, delisting procedures may commence.
Camber Energy, Inc. (NYSE American: CEI) announced its subsidiary, Viking Energy Group, has entered into a Membership Interest Purchase Agreement to acquire a 100% interest in companies developing a renewable diesel processing plant in Reno, Nevada. The facility aims to produce approximately 43 million gallons of renewable diesel annually, with about 95% of the construction complete. Closing the acquisition is contingent on securing financing that meets Viking's criteria.
Camber Energy (NYSE American:CEI) announced on November 19, 2021, that it received a notification from the NYSE American regarding its non-compliance with listing standards due to delayed financial reports. The company has until December 17, 2021, to file these reports, which include the Form 10-K for the transition period ended December 31, 2020, and two Form 10-Qs for quarterly periods ended March 31, 2021, and June 30, 2021. Failure to comply may result in delisting proceedings. A 'BC' indicator will be added to its trading symbol until compliance is achieved.
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