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Camber Energy | 8-K: Unaudited Pro Forma Condensed Combined Statement of Operations

SEC announcement ·  Apr 5 08:03
Summary by Moomoo AI
Camber Energy, Inc., a Nevada corporation, has completed its merger with Viking Energy Group, Inc., also a Nevada corporation, on August 1, 2023. The merger resulted in Viking becoming a wholly-owned subsidiary of Camber. The transaction was accounted for as a reverse acquisition under US GAAP, with Viking identified as the acquirer for accounting purposes. The unaudited pro forma combined statement of operations for the year ended December 31, 2023, was presented as if the merger had occurred on January 1, 2023. This pro forma statement is for illustrative purposes and does not project future operating results. The pro forma adjustments reflect the historical financial statements of both companies and are intended to provide a basis for analyzing the effects of the merger. The combined...Show More
Camber Energy, Inc., a Nevada corporation, has completed its merger with Viking Energy Group, Inc., also a Nevada corporation, on August 1, 2023. The merger resulted in Viking becoming a wholly-owned subsidiary of Camber. The transaction was accounted for as a reverse acquisition under US GAAP, with Viking identified as the acquirer for accounting purposes. The unaudited pro forma combined statement of operations for the year ended December 31, 2023, was presented as if the merger had occurred on January 1, 2023. This pro forma statement is for illustrative purposes and does not project future operating results. The pro forma adjustments reflect the historical financial statements of both companies and are intended to provide a basis for analyzing the effects of the merger. The combined company's ability to continue as a going concern is disclosed, with no assurance provided for future performance. The pro forma statement does not include any potential cost savings or synergies that may result from the merger. The merger has been reflected in Camber's consolidated balance sheet as of December 31, 2023, and the pro forma combined statement of operations is included in the Current Report on Form 8-K filed with the SEC.

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