- Current report filing (8-K)
February 26 2010 - 4:46PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported):
February 26, 2010
CLEAN ENERGY FUELS CORP.
(Exact Name of Registrant as Specified in Charter)
Delaware
(State or Other Jurisdiction of
Incorporation)
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001-33480
(Commission File Number)
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33-0968580
(IRS Employer Identification
No.)
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3020
Old Ranch Parkway, Suite 400 Seal Beach, California
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90740
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(Address of
Principal Executive Offices)
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Zip Code
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(562) 493-2804
(Registrants telephone number, including area code)
Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see
General Instruction A.2. below):
o
Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01.
Regulation FD Disclosure.
Statement about the Accounting Impact of our Series I
Warrants and Amortization Expense on the Fourth Quarter of 2009.
Beginning
January 1, 2009, under the relevant accounting guidance, the Company has accounted
for its Series I warrants as a derivative
,
which requires the Company
to mark-to-market the Series I warrants at the end of each reporting period.
The Company uses a Monte Carlo simulation model to value the Series I
warrants, which requires the Company to make estimates regarding risk-free
interest rates, the volatility of its stock price, and its anticipated dividend
yield, among others. During the fourth quarter
of 2009, the Company anticipates that it will record a gain of approximately $442,000
related to valuing the Series I warrants.
For more information about the accounting treatment of our Series I
warrants, refer to the notes 19 and 20 of our condensed consolidated financial
statements contained in our Form 10-Q for the quarter ended September 30,
2009.
Also
for the fourth quarter of 2009, the Company anticipates recording approximately
$500,000 of amortization expense related to the intangible assets the Company
acquired in connection with its acquisition of BAF Technologies, Inc.
(BAF) on October 1, 2009.
Special Note Regarding Forward-Looking Statements
Certain
statements in this current report on Form 8-K constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934, including the
statements regarding the Companys anticipated gain for the fourth quarter of
2009 related to the valuation of the Series I warrants and the anticipated
amortization expense related to the BAF intangible assets. Forward-looking
statements are based upon current assumptions, expectations and beliefs
concerning future developments and their potential effect on our business.
These forward-looking statements are not guarantees of future performance and
involve risks, uncertainties and assumptions that are difficult to predict.
Actual outcomes and results may differ materially from what is expressed or
forecast in these forward-looking statements. Factors that might cause or
contribute to such differences include, but are not limited to, those discussed
in Risk Factors in Part I, Item 1A of our Form 10-K for the year
ended December 31, 2008 and Part II, Item 1A of our Form 10-Q
for the quarterly period ended September 30, 2009. These forward-looking statements speak only as
of the date they were made and we undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: February 26,
2010
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Clean
Energy Fuels Corp.
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By:
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/s/
Richard R. Wheeler
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Name: Richard R.
Wheeler
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Title: Chief Financial
Officer
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3
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