Camber Energy Requests NYSE For Deadline Extension To File Delayed Financial Reports

Camber Energy, Inc. (NYSE: CEI) shared on Friday that the New York Stock Exchange has approved its request for a deadline extension to file its outstanding financial reports. Instead of January 14, the company now has until February 15, 2022, to file its delinquent reports.

The firm admitted that it has not been filing its required reports according to the exchange’s regulations. Specifically, it is yet to file its financials for the 9-month transition period ended December 31, 2020, and for the quarters ended March 31, June 30, and September 30, 2021.

The request for an extension to the deadline was made “due to certain circumstances” which the firm didn’t elaborate on further.

In a tweet on Saturday, CEO James Doris said that a certain “3-letter organization” is still not finished with the review of the company’s reports, purporting that everything is in the organization’s court at the moment.

Good news is that we spoke with reps of the 3-letter organization and they advised they are working on the file. Unfortunately they aren't finished their review and need more time. Everything in their court at the moment. Will get some other info out shortly.

— James Doris (@JamesDoris19) January 14, 2022

Twitter user @Bankingbucks floated the idea today that the delay is with the Securities and Exchange Commission, saying that the agency is “slacking.”

$CEI So there are two partnerships/acquisitions that Doris is currently working on and probably finalised. I'm assuming he wanted the 10k release on Friday so he could release the news one after the other. SEC are slacking. Those clowns. I think next week we see some news.

— Bankingbucks (@Bankingbucks) January 16, 2022

Doris became Camber Energy’s CEO in December 2020. He is also the CEO of Viking Energy Group, which signed a definitive merger agreement with Camber Energy in February 2021.

The energy company assured its commitment to meet the new deadline but it can still request an additional extension “up to the maximum cure period of May 20, 2022.”

The firm was the subject of a Kerrisdale Capital report released in October 2021. Among the “red flags” of the firm identified in the report is its failure to file financial reports for more than a year.

Camber Energy last traded at $0.75 on the NYSE.

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