SEC Filing Summary: Tengasco, Inc. (8-K)
Business Context and Reporting Period
This Form 8-K was filed by Tengasco, Inc. on January 26, 2018. The report details the completion of an asset disposition involving the company's subsidiary, Manufactured Methane Corporation. Note: The request metadata referenced "Riley Exploration Permian, Inc.," but the filing text explicitly identifies the registrant as Tengasco, Inc.
Key Financial Metrics
- Transaction Proceeds: $2.65 million in cash.
- Asset Disposition: Sale of methane facility gas treatment and electricity generation facilities located at the Carter Valley landfill in Hawkins County, Tennessee.
- Effective Date: December 31, 2017.
- Use of Proceeds: General corporate purposes.
- Other Metrics: The filing does not provide data on revenue, profit, margins, debt, or liquidity for the reporting period.
Material Changes
Following the sale, Tengasco, Inc. no longer owns or operates any assets in Tennessee and has no remaining employees in that state. This represents a complete exit from operations in that specific geographic region.
Outlook and Management Commentary
Management intends to utilize the $2.65 million proceeds for general corporate purposes. The filing includes a press release (Exhibit 99.1) but does not provide specific forward-looking guidance, risk factors, or contingencies related to future operations beyond the asset sale.
Investor Verification Checklist
- Verify the exact closing date of the transaction (effective December 31, 2017) versus the filing date (January 26, 2018).
- Confirm the identity of the buyer, Tennessee Renewable Group LLC.
- Review subsequent filings to determine how the "general corporate purposes" for the proceeds were executed.
- Check for any remaining liabilities or obligations associated with the sold assets not disclosed in this summary.