SEC Filing Summary: Creek Road Miners, Inc. (Form 8-K)
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Creek Road Miners, Inc., a Delaware corporation, on May 3, 2022, covering events occurring on April 4, 2022, and April 20, 2022. The filing reports specific corporate actions regarding the conversion of preferred stock to common stock.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. The only financial data disclosed relates to specific equity conversion transactions:
- April 4, 2022 Conversion: 500 shares of Series B Preferred Stock (stated value $1,080/share) converted into 372,928 shares of Common Stock at a conversion price of $1.448.
- April 20, 2022 Conversion: 440 shares of Series B Preferred Stock converted into 380,769 shares of Common Stock at a conversion price of $1.248.
- Outstanding Preferred Stock: As of May 3, 2022, 1,400 shares of Series B Preferred Stock remain outstanding.
Material Changes
The material change reported is the reduction of Series B Preferred Stock and the corresponding increase in Common Stock shares outstanding due to investor conversions. The filing notes a decrease in the conversion price between the two events ($1.448 to $1.248).
Guidance, Outlook, and Risks
The filing contains no management guidance, outlook, or discussion of risks and contingencies. The company stated it relied upon the exemption from registration provided under Section 4(a)(2) of the Securities Act for these transactions, as they did not involve a public offering.
Investor Verification Checklist
- Verify the total number of Common Stock shares outstanding post-conversion.
- Confirm the remaining rights and liquidation preferences of the 1,400 outstanding Series B Preferred shares.
- Review the company's most recent 10-K or 10-Q for baseline financial health, as this 8-K contains no operational financial data.
- Check for any subsequent filings regarding further conversions or changes in the capital structure.