Company Quick10K Filing
Empire Petroleum
10-Q 2020-03-31 Filed 2020-05-15
10-K 2019-12-31 Filed 2020-03-30
10-Q 2019-09-30 Filed 2019-11-14
10-Q 2019-06-30 Filed 2019-08-14
10-Q 2019-03-31 Filed 2019-05-15
10-K 2018-12-31 Filed 2019-04-01
10-Q 2018-09-30 Filed 2018-11-14
10-Q 2018-06-30 Filed 2018-08-14
10-Q 2018-03-31 Filed 2018-05-15
10-K 2017-12-31 Filed 2018-04-02
10-Q 2017-09-30 Filed 2017-11-13
10-Q 2017-06-30 Filed 2017-08-10
10-Q 2017-03-31 Filed 2017-05-15
10-K 2016-12-31 Filed 2017-03-31
10-Q 2016-09-30 Filed 2016-11-14
10-Q 2016-06-30 Filed 2016-08-15
10-Q 2016-03-31 Filed 2016-05-16
10-K 2015-12-31 Filed 2016-03-30
10-Q 2015-09-30 Filed 2015-11-16
10-Q 2015-06-30 Filed 2015-08-14
10-Q 2015-03-31 Filed 2015-05-15
10-K 2014-12-31 Filed 2015-03-27
10-Q 2014-09-30 Filed 2014-10-31
10-Q 2014-06-30 Filed 2014-08-01
10-Q 2014-03-31 Filed 2014-05-07
10-K 2013-12-31 Filed 2014-03-03
10-Q 2013-09-30 Filed 2013-11-08
10-Q 2013-06-30 Filed 2013-07-22
10-Q 2013-03-31 Filed 2013-05-13
10-K 2012-12-31 Filed 2013-03-08
10-Q 2012-09-30 Filed 2012-11-05
10-Q 2012-06-30 Filed 2012-07-24
10-Q 2012-03-31 Filed 2012-05-11
10-K 2011-12-31 Filed 2012-03-21
10-Q 2011-09-30 Filed 2011-11-14
10-Q 2011-06-30 Filed 2011-08-12
10-Q 2011-03-31 Filed 2011-05-13
10-K 2010-12-31 Filed 2011-03-23
10-Q 2010-09-30 Filed 2010-11-15
10-Q 2010-06-30 Filed 2010-08-13
10-Q 2010-03-31 Filed 2010-05-12
10-K 2009-12-31 Filed 2010-03-30
8-K 2020-04-16 Enter Agreement, Exhibits
8-K 2020-04-06 Enter Agreement, M&A, Exhibits
8-K 2020-03-03 Enter Agreement
8-K 2019-06-10 M&A, Exhibits
8-K 2019-04-03 Exhibits
8-K 2019-03-27 Enter Agreement, M&A, Off-BS Arrangement, Exhibits
8-K 2019-02-27 Enter Agreement, Exhibits
8-K 2018-10-29 M&A, Exhibits
8-K 2018-10-10 Regulation FD, Other Events, Exhibits
8-K 2018-09-20 Enter Agreement, M&A, Off-BS Arrangement, Sale of Shares, Officers, Exhibits
8-K 2018-08-28 M&A, Sale of Shares, Exhibits
8-K 2018-07-23 Enter Agreement, Exhibits
8-K 2018-07-13 Enter Agreement, Exhibits
8-K 2018-02-07 Leave Agreement, Exhibits
8-K 2018-01-16 Enter Agreement, Exhibits

Empire Petroleum Financials

EMPR Metrics, Comps, Filings

Quarterly | Annual

Business

Empire Petroleum Corporation, a Delaware corporation, was incorporated in the State of Utah in August 1983 under the name Chambers Energy Corporation and domesticated in Delaware in March 1985 under the name Americomm Corporation. The name was changed to Americomm Resources Corporation in July 1995. On May 29, 2001, Americomm Resources Corporation acquired Empire Petroleum Corporation, which became a wholly owned subsidiary of Americomm Resources Corporation. On August 15, 2001, Americomm Resources Corporation and Empire Petroleum Corporation merged and the resulting entity's name was changed to Empire Petroleum Corporation. Empire Petroleum Corporation has two wholly owned subsidiaries, Empire Louisiana LLC ("Empire Louisiana") and Empire North Dakota LLC ("Empire North Dakota"). The consolidated financial statements of Empire Petroleum Corporation and subsidiaries ("Empire", the "Company", "we") include the accounts of the Company and its wholly owned subsidiaries.

On August 28, 2018, the Company purchased oil producing properties from Cardinal Exploration and Production Company ("Cardinal") for a purchase price of $323,000. The effective date of the transaction was June 1, 2018. After certain adjustments related to the effective date, the total proceeds paid to Cardinal were $293,966. Such proceeds were paid from sales of unregistered securities of the Company. The oil and gas properties purchased from Cardinal include four active operated wells in Louisiana, including one saltwater disposal well. Empire's working interests in the wells are 100%.

On September 20, 2018, the Company purchased oil and natural gas properties from Exodus Energy, Inc. ("Exodus") for a purchase price of $969,042. Post close adjustments reduced the purchase price to $959,338. The effective date of the transaction was August 1, 2018. Such proceeds were paid from loan proceeds and sales of unregistered securities. The oil and gas properties include 1,500 gross developed and undeveloped acres and eight wells. The Company's working interests in the wells range from 50% to 90%.


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Equity

Income Statement ($MM Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($MM Quarterly)

Ops, Inv, Fin

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Wize Pharma (WIZP) 3,714 0% -0.9 -123% 2,091 2,238 2 0 -2,577 -2,577 2,229
Encision (ECIA) 3,709 51% -115.6 -4% 4,148 1,933 8,055 4,147 -152 -31 3,568
Geospatial (GSPH) 3,709 70% -6.3 -736% 111 3,656 273 190 -816 -586 3,668
Mentor Capital (MNTR) 3,702 29% -1.0 -59% 5,269 1,972 3,177 930 -3,131 -3,080 2,951
Blake Insomnia Therapeutics (BKIT) 3,681 -135.2 0 237 0 0 -27 -27 3,681
Cartesian (CRTN) 3,632 30% -0.4 -44% 16,522 17,461 47,555 14,053 -7,270 -5,582 2,087
Invesco CurrencyShares Singapore Dollar Trust (FXSG) 3,628 0% -50.4 1% 3,558 1 40 0 26 26 -1,288
Fieldpoint Petroleum (FPP) 3,628 0% 13.8 -5% 4,528 6,259 1,668 0 -241 247 3,414
Immune Pharmaceuticals (IMNP) 3,597 -0.9 -71% 20,716 19,874 0 0 -14,715 -13,953 12,494
American Bio Medica (ABMC) 3,580 35% -28.9 -20% 2,246 2,809 2,776 971 -440 -177 5,119
Empire Petroleum (EMPR) 3,576 0% -3.0 -30% 11,795 13,670 4,941 0 -3,541 -3,815 11,553
Genesis Financial (GFNL) 3,571 0% -1.1 -155% 2,427 3,394 10 0 -3,756 -3,242 3,551
Frontier Oilfield Services (FOSI) 3,542 0% -5.7 -319% 868 11,161 646 0 -2,768 -2,021 11,479
Coretec (CRTG) 3,505 -2.8 -107% 1,424 3,504 0 0 -1,520 -1,229 3,497
Sauer Energy (SENY) 3,496 49% -2.8 -116% 1,092 291 30 15 -1,271 -1,239 3,494
Vycor Medical (VYCO) 3,465 91% -6.4 -53% 1,086 2,353 1,127 1,020 -575 -530 3,367
Puradyn Filter Technologies (PFTI) 3,451 24% -14.2 -47% 2,470 12,620 1,278 303 -1,160 -826 11,763
Igen Networks (IGEN) 3,418 68% -2.6 -137% 604 2,437 594 405 -830 -1,315 3,381
Invesco CurrencyShares Chinese Renminbi Trust (FXCH) 3,414 0% 1,654.7 -0% 3,419 1 4 0 -13 -13 -21,003
Giggles N' Hugs (GIGL) 3,381 0% -17.2 -29% 1,185 3,455 1,931 0 -341 -196 3,378

Balance Sheet ($'000)2011-09-302011-12-312012-06-302012-09-302013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302016-03-312016-06-302016-09-302016-12-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash575212333319100127623694169225078594588530018
Accounts Receivable617220090000001252407871,164
Inventory472435468
PP&E255255255255223223223009959,228
Assets37432734633730622923722924622819501272442171901851823833603523783593041,7231,99710,66811,76611,795
Accounts Payable321581734778
Long-Term Debt4750521841,17606,5807,995
Liabilities110111247276414579211411815104201434650811722182503524011,4012,14711,18912,69313,670
Stockholders' Equity264215996126522518113613211044-0862442161471391333011871341287-96323-150-521-928-1,875
Income Statement ($'000)2011-09-302011-12-312012-06-302012-09-302013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302016-03-312016-06-302016-09-302016-12-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Revenue2562,4972,188
Cost of Revenue56
Gross Profit
R&D
SG&A4242593657724341625133266236405786193594515932273862056132,044470
Tax
Net Income59-434-61-50-62-53-56-57-67-34-79-57-62-36-40-57-86-19-220-44-69-613-246-230-234-588-2,006-947
Cash Flow ($'000)2011-09-302011-12-312012-06-302012-09-302013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302016-03-312016-06-302016-09-302016-12-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash Operating-52-44-18-0-56-36-47-29-34-45-8-65-26-9-5-3-65-58-69-144-65-330-114168-1,055
Cash Investing-327
Cash Financing0641330451350000013250132125101,5455,2473351,400