Spindletop Oil & Gas Co ( (SPND) ) has released a notification of late filing.
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Spindletop Oil & Gas Co. has announced a delay in filing its Form 10-K (Yearly Report) for the financial period ending December 31, 2024. The primary reason for this delay is the late receipt of necessary information from oil and gas purchasers and third-party operators, which has made it unfeasible to file the report without unreasonable effort and expense. The company anticipates filing the delayed report within fifteen calendar days following the original due date. Financially, Spindletop expects to report a net loss of approximately $450,000 for 2024, a significant change from the net income of $7,000 reported in 2023. This is attributed to a decrease in total revenues by about $760,000, despite a reduction in total expenses by approximately $75,000. The company is committed to ongoing compliance efforts, as indicated by the signature of Chris G. Mazzini, President and Principal Executive Officer, on the notification.
More about Spindletop Oil & Gas Co
YTD Price Performance: 15.94%
Average Trading Volume: 300
Technical Sentiment Signal: Buy
Current Market Cap: $16.18M
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