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Osage Exploration and Development Announces Doubling of Credit Facility with Apollo Investment Corpo

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By Business Wirevia The Motley Fool

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Osage Exploration and Development Announces Doubling of Credit Facility with Apollo Investment Corporation

$20 Million Facility Funds 2013 Capex Budget

SAN DIEGO–(BUSINESS WIRE)– Osage Exploration and Development, Inc. (OTCBB:OEDV), an independent exploration and production company focused on the Horizontal Mississippian and Woodford plays in Oklahoma, announced today that it has increased its existing drawdown credit facility with Apollo Investment Corporation (NASADQ:AINV) from $10 million to $20 million. The proceeds from the expanded facility will fully fund the Company’s planned 2013 capital expenditures in its Nemaha Ridge project in Logan County, Oklahoma.

Management Comments

Mr. Kim Bradford, Chairman and CEO of Osage Exploration, commented, “Our lender, Apollo Investment Corporation, has been extremely supportive of our activities in Logan County over the last year. Since our initial agreement in April of 2012, Apollo made it clear to us that early success would translate into an expanded facility whenever Osage was ready. With the revenues from our first three wells surpassing the capital invested in those wells, Osage has amply demonstrated that we have the ability to efficiently invest drilling capital. Now that we are drilling at a pace well above of our initial goal of two wells per month, doubling the existing facility is the prudent move to make. We have eight wells in various stages of production, six more in flowback, three drilled and awaiting fracture stimulation, and three rigs drilling new wells now.

“Earning the confidence of one of the premiere private equity firms in the world and quickly achieving meaningful results sets us apart from our micro-cap peers. Our objective is to drill the Nemaha Ridge acreage into the Proved Producing reserve category as expeditiously as possible. With Apollo’s support we have the ability to do so while still maintaining tremendous financial flexibility going forward.”

Mr. Bradford continued, “I am extremely proud of the performance that the Osage team, our Operating partners, and our financial partners are realizing. Our challenge has been to transition from a one well per quarter project into executing an efficient, high rate sequential drilling plan. Together we have accomplished that operationally and financially in a seamless fashion.”


About Osage Exploration and …read more

Source: FULL ARTICLE at DailyFinance

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BAB, Inc. Reports Loss for 1st Quarter FY 2013

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BAB, Inc. Reports Loss for 1 st Quarter FY 2013

DEERFIELD, Ill.–(BUSINESS WIRE)– BAB, Inc. (OTCBB: BABB), announced its financial results for the first quarter ended February 28, 2013.

For the quarter ended February 28, 2013, BAB had revenues of $535,000 and a net loss of $65,000, or $0.009 per share, versus revenues of $567,000 and net income of $10,000, or $0.001 per share, for the quarter ended February 29, 2012.

Revenues of $535,000 for the quarter ended February 28, 2013 were down $32,000 from the prior year’s revenues of $567,000 for the same quarter.

Total operating expenses were $599,000 for the quarter ended February 28, 2013, versus $557,000 for the same period in 2012 due to increases in occupancy, payroll and advertising expenses.

BAB, Inc. operates, franchises, and licenses Big Apple Bagels ®, My Favorite Muffin ® SweetDuet Frozen Yogurt & Gourmet Muffins™ Jacobs Bros. Bagels ® and Brewster’s ® Coffee. The Company’s stock is traded on the OTCBB under the symbol BABB and its web site can be visited at www.babcorp.com.

Certain statements in this press release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “forecast,” “estimate,” “project,” “intend,” “expect,” “should,” “would,” “believe” and similar expressions and all statements which are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the company’s actual results, performance (financial or operating), or achievements to differ from the future results, performance (financial or operating), or achievements expressed or implied by such forward-looking statements. The above factors are more fully discussed in the company’s SEC filings.

(TABLE FOLLOWS)

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Source: FULL ARTICLE at DailyFinance

BAB, INC.
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The Tile Shop Announces Warrant Repurchases

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The Tile Shop Announces Warrant Repurchases

PLYMOUTH, Minnesota–(BUSINESS WIRE)– Tile Shop Holdings, Inc. (NAS: TTS) , a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories, today announced that it has completed the purchase of 3,580,004 outstanding warrants in private transactions. The aggregate purchase price to acquire the warrants was approximately $30.1 million. These purchases were funded with the cash proceeds received from the exercise of publically held warrants.

After a thorough analysis regarding the alternative uses for the cash received from the public warrant exercises, the Board of Directors determined that it was in the Company’s best interest to repurchase these warrants so as to minimize the dilutive effect that would have occurred if these warrants had been exercised, while maintaining the benefits associated with an increase in the public float of the Company’s common stock resulting from the exercise of the publically traded warrants.

Since the Merger on August 21, 2012, the Company has received instructions to exercise 6,604,551 warrants; 3,984,555 warrants were exercised by delivering $45.7 million of cash to the Company, and 2,619,996 were exercised on a cashless basis. As a result, the Company has issued 4,916,598 shares of common stock in connection with warrant exercises. As of today, the Company has 47,746,482 shares of common stock and 7,648,778 warrants outstanding.

The Company will continue to evaluate various alternatives associated with the utilization of the remaining cash received to date and any additional cash that might be received in the future, from the exercise of public warrants.

The terms of the warrants enable the Company to force conversion of the warrants into stock when the reported last sale price of the Company’s common stock equals or exceeds $18.00 per share for any 20 trading days within a 30 day trading period. When this benchmark is achieved, the Company can require conversion of the warrant into common stock on a “cashless” basis.

About Tile Shop Holdings and The Tile Shop

Tile Shop Holdings is the parent company of The Tile Shop. Tile Shop Holdings‘ common stock is listed on the NASDAQ Global Market under the ticker symbol “TTS” and its warrants trade on the OTCBB under the symbol “TTSAW.”

The Tile Shop is a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. …read more
Source: FULL ARTICLE at DailyFinance

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BAB, Inc. Announces Cash Distribution

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By Business Wirevia The Motley Fool

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BAB, Inc. Announces Cash Distribution

DEERFIELD, Ill.–(BUSINESS WIRE)– BAB, Inc. (OTCBB: BABB), today announced that its Board of Directors has declared a quarterly distribution of one cent ($0.01) per share, payable on April 11, 2013, to shareholders of record as of March 28, 2013.

The Company believes that, for tax purposes a portion of the distribution and any future distributions that the Board may declare in 2013 (collectively, the “Distributions”) may be treated as a return of capital to shareholders to the extent of each shareholder’s basis, while the remaining portion of the Distribution may be treated as a dividend.

The portion of the Distributions that will be treated as dividends will not be determined until after December 31, 2013, as that portion is dependent upon the Company’s earnings and profit for tax purposes for its fiscal year ending November 30, 2013, and the Company will not be able to definitively calculate its earnings and profits until after the end of the fiscal year. The final determination will be reported to recipients of the Distributions on a tax information return in early 2014.

BAB, Inc. operates, franchises, and licenses Big Apple Bagels®, My Favorite Muffin® SweetDuet Frozen Yogurt & Gourmet Muffins™, Jacobs Bros. Bagels® and Brewster’s® Coffee. The Company’s stock is traded on the OTCBB under the symbol BABB and its web site can be visited at www.babcorp.com.

Certain statements in this press release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “forecast,” “estimate,” “project,” “intend,” “expect,” “should,” “would,” “believe” and similar expressions and all statements which are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the company’s actual results, performance (financial or operating), or achievements to differ from the future results, performance (financial or operating), or achievements expressed or implied by such forward-looking statements. The above factors are more fully discussed in the company’s SEC filings.

BAB, Inc.
Michael K. Murtaugh
Phone: (847) 948-7520
Fax: (847) 405-8140
www.babcorp.com

KEYWORDS:   United States  North America  Illinois

INDUSTRY KEYWORDS:

The article BAB, Inc. Announces Cash Distribution originally appeared on Fool.com.

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Source: FULL ARTICLE at DailyFinance

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Osage Exploration and Development Announces IP Rate on Horizontal Mississippian Well

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Osage Exploration and Development Announces IP Rate on Horizontal Mississippian Well

SAN DIEGO–(BUSINESS WIRE)– Osage Exploration and Development, Inc. (OTCBB:OEDV), an independent exploration and production company focused on the Horizontal Mississippian and Woodford plays in Oklahoma, announced today a one day peak IP on the Tontz 1-32H of 642 BOE. The product mix from the well, located in Section 32-17N-3W, contains approximately 84% crude oil. Osage owns 8.88% of the well, which is operated by Stephens Production Company.


Management Comments

Regarding the initial production result on the Tontz 1-32H, Osage’s Chairman and CEO, Mr. Kim Bradford stated, “The Tontz 1-32H, located in the heart of Osage’s acreage block in Logan County, is yet another data point to support our geological thesis that Logan County is among the best Mississippian acreage in the play. Superb well results are being achieved by multiple operators in the area, and as we continue to execute our accelerated drilling program, Osage will be participating opportunistically in wells in addition to those drilled by our Project Operator, Slawson Exploration. Owing to this strategy, in February Osage participated in three wells. In March, we are participating in four gross wells. Our top priority is to deliver a very high return to our shareholders by developing this asset efficiently.”


About Osage Exploration and Development, Inc.

Based in San Diego, California, with production offices in Oklahoma City, Oklahoma, and executive offices in Bogotá, Colombia, Osage Exploration and Development, Inc. is an independent exploration and production company with interests in oil and gas wells and prospects in the U.S. and Colombia. http://www.osageexploration.com


About Slawson Exploration Company, Inc.

Headquartered in Wichita, Kansas, with regional offices in Denver, Houston, and Oklahoma City, Slawson began oil and gas exploration in 1957. http://www.slawsoncompanies.com/exploration.html


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Source: FULL ARTICLE at DailyFinance