SEC Filing Summary: Tengasco, Inc. (8-K)
Business Context and Reporting Period
This Form 8-K Current Report was filed by Tengasco, Inc. on May 23, 2005, covering events that occurred on May 19, 2005. The registrant is incorporated in Tennessee. Note: The request metadata references "Riley Exploration Permian, Inc.", but the filing text explicitly identifies the registrant as "Tengasco, Inc."
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, or margin data. The only specific financial figure disclosed relates to debt:
- Debt: The Company has two notes payable to Dolphin Offshore Partners, LP with an aggregate principal balance of $700,000.
- Liquidity: No liquidity metrics (e.g., cash on hand, working capital) are provided in this filing.
Material Changes
The filing reports two material corporate governance and financing events:
- Bylaw Amendment: The Board of Directors amended Article III, paragraph 6 of the Bylaws. The quorum requirement for Board meetings was changed from a fixed number of six (6) directors to a majority of the directors then serving on the Board.
- Debt Extension: Dolphin Offshore Partners, LP (the largest shareholder), extended the due date of the two notes totaling $700,000. The extension period is three months, from May 20, 2005, to August 20, 2005, on the same terms and conditions as the existing notes.
Guidance, Outlook, and Risks
The filing contains no management guidance, future outlook, or discussion of risks and contingencies beyond the immediate extension of debt obligations. No unusual items were reported.
Key Facts for Investor Verification
- Verify the current total number of directors serving on the Board to determine the new quorum threshold.
- Confirm the interest rate and specific terms of the $700,000 notes extended to August 20, 2005.
- Review the relationship between Tengasco, Inc. and Dolphin Offshore Partners, LP, noting that the managing partner of Dolphin is the Chairman of Tengasco's Board.
- Check subsequent filings to confirm whether the debt was repaid or further extended after the August 20, 2005 deadline.