Announcement • May 16
Camber Energy, Inc. announced delayed 10-Q filing On 05/15/2025, Camber Energy, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Apr 09
Camber Energy, Inc. announced that it has received $1.2 million in funding from FK Venture LLC Camber Energy, Inc. announced the company and its wholly-owned subsidiary, Viking Energy Group, Inc. (“Viking”), entered into an agreement ) with FK Venture LLC to restructure an existing obligation of Viking to the Investor in the amount of $1,200,000. Pursuant to the Agreement, the Company issued to the Investor an 10% unsecured convertible promissory note in the principal amount of $1,200,000 on April 7, 2025. The transaction includes participation from FK Venture LLC .The Note bears interest at a rate of 10% per annum and matures on September 30, 2026 (the “Maturity Date”). Subject to the terms of the Note, the Company may prepay the Note in whole or in part, provided that if prepayment occurs within twelve (12) months of issuance, the Company must pay a minimum of twelve months’ interest. At any time prior to the Maturity Date, the Investor may elect to convert the outstanding principal and any accrued but unpaid interest into shares of the Company’s common stock at a fixed conversion price of $0.15 per share, subject to customary anti-dilution adjustments. Based on the current terms, the Note is convertible into up to 8,000,000 shares of common stock (excluding any shares of common stock that might be issued on the conversion of any interest component), which represents approximately 3.0% of the Company’s currently issued and outstanding shares, and would represent approximately 2.9% on a post-conversion basis. The Agreement and the Note were approved by the Company’s Board of Directors by written consent effective April 2, 2025.
The company closed the transaction on April 7, 2025. Announcement • Apr 01
Camber Energy, Inc. announced delayed annual 10-K filing On 03/31/2025, Camber Energy, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Oct 09
Camber Energy Adds New Patent to Wildfire Mitigation Technology Portfolio Camber Energy, Inc. announced that it received a new patent within its portfolio of Broken Conductor Protection technologies, which are designed to assist utility companies with wildfire mitigation, public safety and grid resiliency initiatives. The new patent, entitled " End of Line Protection with Blocking", was issued by the U.S. Patent and Trademark Office (USPTO) on October 8, 2024 to the Company's majority-owned subsidiary, Viking Sentinel Technology, LLC, and is in addition to patents previously disclosed by the Company. Broken electrical conductors pose a public safety risk due to the possibility of human contact with the conductors and the potential for arcing to ignite wildfires. The Company's Broken Conductor Protection technology is designed to be an integral component within existing grid protection systems, improving resiliency and reliability, reducing the risk of fires and improving public safety. Announcement • Aug 15
Camber Energy, Inc. announced delayed 10-Q filing On 08/14/2024, Camber Energy, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Aug 13
Camber Energy, Inc.(OTCPK:CEIN) dropped from S&P TMI Index Camber Energy, Inc.(OTCPK:CEIN) dropped from S&P TMI Index Announcement • Aug 08
Camber Energy Receives Notice from the NYSE Regulation On August 7, 2024, Camber Energy, Inc. received notice from the NYSE Regulation that it had suspended trading of the Company’s common stock and determined to commence proceedings to delist the Company’s common stock from the NYSE American as a result of its determination that the Company is no longer suitable for listing pursuant to Section 1003(f)(v) of the NYSE American Company Guide due to the low selling price of the Company’s common stock. The Company has a right to a review of the staff’s determination to delist the Company’s common stock by the Listings Qualifications Panel of the Committee for Review of the Board of Directors of the NYSE American. The Company intends to request a review of the staff’s determination and appeal this determination, however, there can be no assurance that the appeal will be successful. The NYSE will apply to the Securities and Exchange Commission to delist the Company’s common stock pending completion of applicable procedures, including any appeal by the Company of the staff’s determination. The Company’s common stock is expected to begin trading under its current trading symbol “CEI” on the OTC Pink Market operated on the OTC Markets system effective with the open of the markets on August 8, 2024. The Company intends to apply to have its common stock quoted on the OTCQB Venture Market on the OTC Markets; however, there can be no assurances that its common stock will be approved, or will continue, to be traded on such market. Announcement • Jun 24
Camber Energy, Inc. Announces Milestone Test Results for Wildfire Mitigation Technology Camber Energy, Inc. announced the successful conclusion of critical independent testing of its Broken Conductor Protection Technology for Electric Transmission Systems. The comprehensive testing, which included over fifty real-time-digital-simulations of broken conductors using varying voltage levels at different points of a transmission line, demonstrated the reliability and effectiveness of Camber's technology in de-energizing a broken conductor before it contacts the ground or a grounded structure, thereby preventing the conductor from being a source of ignition or a danger to life and property. This testing was coordinated by Bridge View Resources, LLC (BVR) and conducted at a laboratory of a nationally-recognized engineering firm that specializes in complex and diverse electrical transmission and distribution projects for investor-owned utilities, municipalities, rural cooperatives, and industrial clients. Announcement • Jun 08
Camber Energy, Inc. Announces Demise of Lawrence (Larry) B. Fisher, Director Camber Energy, Inc. announced with great sadness that its Director, Lawrence (Larry) B. Fisher, has passed away after a brief illness. Mr. Fisher served as a director of the Company since December 2023, and served as a director of Viking Energy Group, Inc., a wholly-owned subsidiary of Camber, since August 2018. Reported Earnings • May 13
First quarter 2024 earnings released: US$0.19 loss per share (vs US$0.035 loss in 1Q 2023) First quarter 2024 results: US$0.19 loss per share (further deteriorated from US$0.035 loss in 1Q 2023). Revenue: US$8.29m (up 14% from 1Q 2023). Net loss: US$26.1m (loss widened US$24.6m from 1Q 2023). Reported Earnings • Mar 25
Full year 2023 earnings released: US$0.46 loss per share (vs US$0.14 loss in FY 2022) Full year 2023 results: US$0.46 loss per share (further deteriorated from US$0.14 loss in FY 2022). Revenue: US$32.1m (up 33% from FY 2022). Net loss: US$32.6m (loss widened 112% from FY 2022). Announcement • Dec 13
Camber Energy, Inc. Announces Board Elections Camber Energy, Inc. announced that at its AGM held on December 7, 2023, shareholders approved the election of Fred S. Zeidman and Robert K. Green as directors. New Risk • Nov 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$2.9m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 23% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Market cap is less than US$100m (US$19.6m market cap). Announcement • Nov 04
Camber Energy Successfully Secures Dismissal of Class Action Lawsuit Camber Energy, Inc. announced the dismissal of the previously disclosed Class Action Complaint (i.e. C.A.No.4:21-cv-03574) filed against the Company et al. titled Ronald E. Coggins v. Camber Energy et al. in the U.S. District Court for the Southern District of Texas, Houston Division, pursuant to which the Plaintiffs sought to recover damages alleged to have been suffered by them as a result of the defendants' alleged violations of federal securities laws. On September 22, 2023, the Court granted the Company and other defendants' motions to dismiss in full, and on October 25, 2023, the Court signed a joint stipulation submitted by the parties, dismissing the case with prejudice. Announcement • Sep 07
Camber Energy, Inc. Announces Chief Financial Officer Changes Camber Energy, Inc. announced that John McVicar, CPA, CA, MBA, ICD.D, has been appointed the Chief Financial Officer of the Company, replacing Frank Barker who retired effective September 1st, 2023 and will remain available to the Company as a consultant on an as-needed basis. Mr. McVicar has been the CFO of Viking Energy Group, Inc. since June, 2022. Mr. McVicar brings more than 30 years of international business experience in Management Consulting and Finance. His previous roles include Consulting Partner at a Big 4 firm, CFO of a TSX-listed company and several regional finance leadership roles with large U.S. and Canadian multinationals in Canada, the U.S., South America and Asia. Mr. McVicar is a CPA, CA and received an MBA from Duke University and a B. Comm from Queen's University. Announcement • Aug 30
Camber Energy, Inc Offers Utility Companies a World-Leading Solution Designed to Reduce Wildfires and Improve Grid Stability Camber Energy, Inc. and its joint venture partners announced to officially introduce for use by utilities around the world an expanded portfolio of fully developed, patent pending, ready-for-market proprietary Electrical Transmission and Distribution Open Conductor Detection Systems designed to detect unsafe and hazardous conditions for transmission lines and distribution lines of any length and any voltage. The systems are designed to immediately identify (within a tenth of a second or less) when a conductor breaks or opens and to instantly de-energize the appropriate source of power, whether it be from a transmission line or distribution line. This novel approach affords technology a unique advantage in detecting open conductors before they make contact with the ground. The system owned by Camber and/or its joint venture partners differs from conventional technology in that it does not wait for a short circuit (or fault) to occur. Conventional technologies that have been used over the last 50 years rely on a short circuit to occur, meaning a conductor must either touch another conductor, touch ground or touch a grounded structure which causes a short circuit that conventional technology normally recognizes and shuts off the power source - this is too late to prevent an incendiary event. Camber and its joint venture partners' products include software-based solutions that can be quickly and cost-effectively deployed within a utility's existing protective relay infrastructure, allowing the utility to protect its grid with greater confidence and reliability. Existing Public Safety Power shutdown Programs (PSPS) are Insufficient. Many utilities have implemented Public Safety Power shutdown programs where a utility manually shuts off electricity on transmission and distribution lines in fire-prone areas during high-risk periods. This strategy has limited effectiveness for the following reasons: The efficacy of this program depends on the judgement of the utility to correctly define the fire danger area. If an energized line outside of the designated fire area makes contact with ground or a grounded structure there is the danger of a fire starting. It must rely on communication between the utility and fire officials and communication between the utility and its customers. Board Change • Aug 03
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. Independent Director Lawrence Fisher was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 03
Viking Energy Group, Inc. Files Form 15 Viking Energy Group, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended. The par value of the company's common stock was $0.001 per share.