PEDEVCO CORP. (NYSEMKT:PED) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition.
reference in its entirety into this Item 2.02.
Change in Fiscal Year.
which press release is incorporated by reference into this Item
5.03, PEDEVCO Corp. (the Company, we or us), announced on March
27, 2017, that, to the authorization provided by the Companys
stockholders at the Companys December 28, 2016 annual meeting,
and in order to meet the continued listing standards of the NYSE
MKT, the Board of Directors approved the filing of a Certificate
of Amendment to the Companys Certificate of Formation with the
Secretary of State of Texas to effect a 1-for-10 reverse stock
split of all outstanding common stock shares of the Company,
anticipated to be effective on April 7, 2017. The Certificate of
Amendment is filed herewith asExhibit 3.1.
shares of outstanding common stock into one new share, with no
change in authorized shares or par value per share, and to reduce
the number of common stock shares outstanding from approximately
54.9 million shares to approximately 5.49 million shares (prior
to rounding). Proportional adjustments will be made to the
conversion and exercise prices of the Companys outstanding
convertible preferred stock, warrants and stock options, and to
the number of shares issued and issuable under the Companys stock
incentive plans. The reverse stock split will not affect any
shareholders ownership percentage of the Companys common stock,
except to the limited extent that the reverse stock split would
result in any shareholder owning a fractional share. Fractional
shares of common stock will be rounded up to the nearest whole
share.
the reverse stock split, although it is expected that the letter
D will be appended to the Companys ticker for approximately 20
trading days following the effective date to indicate the
completion of the reverse stock split. In addition, the common
stock will trade under a new CUSIP number, 70532Y 303.
the Companys year end results and entry into a certain
non-binding letter of intent, and disclosing the approval by the
Board of Directors of a 1-for-10 reverse stock split and the
filing of a Certificate of Amendment to the Companys Certificate
of Formation to effect such reverse stock split. A copy of the
press release is filed herewith asExhibit 99.1.
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Exhibit No.
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Description
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3.1*
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Certificate of Amendment to Certificate of Formation
(1-for-10 Reverse Stock Split of Common Stock) |
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99.1*
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Press Release dated March 27, 2017
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About PEDEVCO CORP. (NYSEMKT:PED)
PEDEVCO Corp. is an energy company, which is engaged in the acquisition, exploration, development and production of oil and natural gas shale plays in the Denver-Julesberg Basin (D-J Basin) in Colorado. The D-J Basin contains hydrocarbon bearing deposits in several formations, including the Niobrara, Codell, Greenhorn, Shannon, J-Sand and D-Sand. The Company’s operating properties are located in the Wattenberg, Wattenberg Extension and Niobrara formation in the D-J Basin. It holds over 16,160 net D-J Basin acres located in Weld and Morgan Counties, Colorado through its subsidiary, Red Hawk Petroleum, LLC, which acreage is located in the Wattenberg and Wattenberg Extension areas of the D-J Basin that it refers to as D-J Basin Asset. It holds interest in Caspian Energy, Inc., which holds a working interest in production and exploration licenses for an oil and gas producing asset, which covers an area of approximately 380,000 acres and is located in the Pre-Caspian Basin in Kazakhstan. PEDEVCO CORP. (NYSEMKT:PED) Recent Trading Information
PEDEVCO CORP. (NYSEMKT:PED) closed its last trading session down -0.0014 at 0.0974 with 125,960 shares trading hands.