Notification That Quarterly Report Will Be Submitted Late (nt 10-q)
May 15 2019 - 5:23PM
Edgar (US Regulatory)
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OMB APPROVAL
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OMB Number:
3235-0058
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UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
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Expires:
February 28, 2022
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Estimated
average burden
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hours per
response.......2.50
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FORM
12b-25
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SEC FILE NUMBER
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001-37932
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CUSIP NUMBER
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NOTIFICATION
OF LATE FILING
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98872F
105
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(Check one):
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☐
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Form
10-K
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☐
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Form
20-F
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☐
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Form
11-K
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☑
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Form
10-Q
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☐
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Form
10-D
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☐
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Form
N-SAR
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☐
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Form
N-CSR
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For Period Ended:
March
31,
2019
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☐
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Transition
Report on Form 10-K
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☐
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Transition
Report on Form 20-F
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☐
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Transition
Report on Form 11-K
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☐
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Transition
Report on Form 10-Q
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☐
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Transition
Report on Form N-SAR
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For the Transition Period
Ended:
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Nothing
in this form shall be construed to imply that the Commission has
verified any information contained herein.
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If the notification
relates to a portion of the filing checked above, identify the
Item(s) to which the notification relates:
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PART
I — REGISTRANT INFORMATION
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Yuma Energy, Inc.
Full
Name of Registrant
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Not applicable
(Former
Name if Applicable)
1177 West Loop South, Suite 1825
Address
of Principal Executive Office
(Street and Number)
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Houston, Texas 77027
City,
State and Zip Code
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PART II —
RULES 12b-25(b) AND (c)
If the subject report could not be filed
without unreasonable effort or expense and the registrant seeks
relief pursuant to Rule 12b-25(b), the following should be
completed. (Check box if appropriate)
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(a)
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The reason
described in reasonable detail in Part III of this form could not
be eliminated without unreasonable effort or expense;
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☒
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(b)
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The subject annual
report, semi-annual report, transition report on Form 10-K, Form
20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will
be filed on or before the fifteenth calendar day following the
prescribed due date; or the subject quarterly report or transition
report on Form 10-Q or subject distribution report on Form 10-D, or
portion thereof, will be filed on or before the fifth calendar day
following the prescribed due date; and
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(c)
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The
accountant’s statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
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PART
III – NARRATIVE
Yuma
Energy, Inc. (“we,” “our” or the
“Company”) is unable to file its Quarterly Report on
Form 10-Q for the period ended March 31, 2019 (the “Form
10-Q”) by the prescribed filing deadline (May 15, 2019)
without unreasonable effort for the reasons set forth below. The
Company expects to complete and file the Form 10-Q within five
calendar days of the original prescribed due date.
The
Company is unable to file its Quarterly Report on Form 10-Q for the
period ended March 31, 2019, within the prescribed time period
because the Company has had significant changes in senior
management since December 31, 2018, including a new Interim Chief
Executive Officer, a new Interim Chief Financial Officer and a
significant reduction in staffing. While the Company’s new
officer and consultants have been working diligently to familiarize
themselves with the Company’s operations and accomplish a
timely filing of the Form 10-Q, they require additional time to
finalize the report. Accordingly, the Company’s preparation
of the Form 10-Q will not be accomplished in order to permit a
timely filing without undue hardship and expense.
PART
IV — OTHER INFORMATION
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(1) Name and
telephone number of person to contact in regard to this
notification
Anthony
C. Schnur
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713
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968-7000
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(Name)
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(Area
Code)
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(Telephone
Number)
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(2) Have all other
periodic reports required under Section 13 or 15(d) of the
Securities Exchange Act of 1934 or Section 30 of the Investment
Company Act of 1940 during the preceding 12 months or for such
shorter period that the registrant was required to file such
report(s) been filed? If answer is no, identify report(s). [X] Yes
No
(3) Is it
anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject
report or portion thereof? [X] Yes No
If so,
attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a
reasonable estimate of the results cannot be made.
The
Company anticipates that, when filed, the Form 10-Q will reflect
total revenues for the quarter ended March 31, 2019 of
approximately $3,978,000, compared to the total revenues previously
reported in the Company’s Form 10-Q for the quarter ended
March 31, 2018 of $5,645,536. The Company anticipates that, when
filed, the Form 10-Q will reflect an impairment of oil and gas
properties for the quarter ended March 31, 2019 of approximately
$11,446,000, compared to an impairment of oil and gas properties of
$-0- previously reported in the Company’s Form 10-Q for the
quarter ended March 31, 2018. The Company anticipates that, when
filed, the Form 10-Q will reflect a loss from operations for the
quarter ended March 31, 2019 of approximately $(13,253,000),
compared to the loss from operations previously reported in the
Company’s Form 10-Q for the quarter ended March 31, 2018 of
$(1,451,831). The Company anticipates that, when filed, the Form
10-Q will reflect a net loss for the quarter ended March 31, 2019
of approximately $(15,650,000), compared to a net loss previously
reported in the Company’s Form 10-Q for the quarter ended
March 31, 2018 of $(3,172,920).
Disclosures About Forward-Looking Statements
The
foregoing reflects the Company’s current views about its
financial condition and performance and other matters that
constitute “forward-looking” statements, as such term
is defined by the federal securities laws. This report contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended (the “Securities
Act”), and Section 21E of the Securities Exchange Act of
1934, as amended (the “Exchange Act”). Statements that
are not strictly historical statements constitute forward-looking
statements and may often, but not always, be identified by the use
of such words such as “expects,”
“believes,” “intends,”
“anticipates,” “plans,”
“estimates,” “potential,”
“possible,” or “probable” or statements
that certain actions, events or results “may,”
“will,” “should,” or “could” be
taken, occur or be achieved. These risks and uncertainties include,
but are not limited to, the ability of the Company to file timely
its periodic reports, the impact on the Company’s business
and the risks identified in the Company’s periodic filings
under the Exchange Act. The Company undertakes no obligation to
revise or update publicly any forward-looking statements, except as
required by law.
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Yuma
Energy, Inc.
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(Name of Registrant
as Specified in Charter)
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has caused this
notification to be signed on its behalf by the undersigned hereunto
duly authorized.
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By:
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/s/ Anthony C.
Schnur
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Name:
Anthony C.
Schnur
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Title: Interim
Chief Executive Officer, Interim Chief Financial Officer and Chief
Restructuring Officer
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3
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