Camber Energy, a company listed on the NYSE American under the symbol CEI, has disclosed several risk factors and operational challenges in its recent announcement. The company has identified material weaknesses in its disclosure controls and procedures, as well as internal control over financial reporting. These weaknesses have been present since September 30, 2017, and if not remediated, could lead to material misstatements in financial statements and affect the company's financial condition and stock price. Camber Energy's profitability in renewable energy investments may rely on government subsidies, which are not guaranteed. The company also faces risks from potential intellectual property infringement claims, which could lead to costly litigation or the need to obtain licenses. Additionally, Camber Energy has limited funds...Show More

Camber Energy, a company listed on the NYSE American under the symbol CEI, has disclosed several risk factors and operational challenges in its recent announcement. The company has identified material weaknesses in its disclosure controls and procedures, as well as internal control over financial reporting. These weaknesses have been present since September 30, 2017, and if not remediated, could lead to material misstatements in financial statements and affect the company's financial condition and stock price. Camber Energy's profitability in renewable energy investments may rely on government subsidies, which are not guaranteed. The company also faces risks from potential intellectual property infringement claims, which could lead to costly litigation or the need to obtain licenses. Additionally, Camber Energy has limited funds and may require additional financing to pursue its business strategy in the oil and gas industry. The company's operations could be disrupted if it loses the services of its CEO, James Doris. Cybersecurity breaches and system disruptions pose further risks to the company's operations. Camber Energy has also received a deficiency notice from the NYSE American for not meeting continued listing standards due to stockholders' equity deficits. The company has submitted a compliance plan to regain compliance by April 12, 2024. The company's majority-owned subsidiary, Simson-Maxwell, is not currently operating at a profit, and there is no assurance that profitability and expansion initiatives will succeed. Camber Energy's outstanding indebtedness and potential additional debt could reduce financial flexibility and impact operations. If the company fails to maintain compliance with NYSE American listing standards, its stock may be delisted, affecting liquidity and market price. The company does not intend to pay cash dividends in the foreseeable future and has a volatile market for its common stock. Lastly, Nevada law authorizes Camber Energy to issue additional shares, which may cause substantial dilution to existing stockholders.