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CRRTQ Carbo Ceramics

CARBO® is a global technology company that provides products and services to several markets including oil and gas, industrial, agricultural, and environmental markets to enhance value for its clients.

Company profile

Ticker
CRRTQ, CRRTQ
Exchange
CEO
Gary A. Kolstad
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
721100013

CRRTQ stock data

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Calendar

15 May 20
24 Jun 21
31 Dec 21
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
12 Jun 20 Kolstad Gary A Common Stock Sell Dispose S No No 0.02 86,757 1.74K 431,900
20 May 20 Conkle Don P Common Stock Sell Dispose S No No 0.0174 80,460 1.4K 136,014
1 Feb 20 Robert J Willette Common Stock Sale back to company Dispose D No No 0.205 2,520 516.6 28,342
1 Feb 20 Robert J Willette Common Stock Option exercise Aquire M No No 0 2,520 0 30,862
1 Feb 20 Robert J Willette Common Stock Sale back to company Dispose D No No 0.205 863 176.92 28,342
1 Feb 20 Robert J Willette Common Stock Option exercise Aquire M No No 0 863 0 29,205
1 Feb 20 Robert J Willette Common Stock Payment of exercise Dispose F No No 0.205 2,526 517.83 28,342
1 Feb 20 Robert J Willette Phantom Stock Common Stock Option exercise Dispose M No No 0 2,520 0 5,040
1 Feb 20 Robert J Willette Phantom Stock Common Stock Option exercise Dispose M No No 0 863 0 864
1 Feb 20 Kolstad Gary A Common Stock Sale back to company Dispose D No No 0.205 12,000 2.46K 518,657

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

0.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 1 1
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 0 0
Total shares 1 1
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Huntington National Bank 1 $0 0.0%
IFP Advisors 0 $0
Largest transactions
Shares Bought/sold Change
Huntington National Bank 1 0 0.0%
IFP Advisors 0 0

Financial report summary

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Competition
HexionItochuMineralsHi-CrushCovia
Risks
  • Delays in the Chapter 11 Cases may increase the risks of our being unable to reorganize our business and emerge from bankruptcy and may increase our costs associated with the bankruptcy process.
  • The Plan may not become effective.
  • We may not be able to obtain Bankruptcy Court confirmation of the Plan or may have to modify the terms of the Plan.
  • Even if a Chapter 11 plan of reorganization is consummated, we may not be able to achieve our stated goals and continue as a going concern.
  • The Plan or another plan of reorganization that we may implement will be based upon assumptions and analyses developed by us. If these assumptions and analyses prove to be incorrect, we may not be able to successfully execute such plan.
  • Our cash flows may not provide sufficient liquidity during the Chapter 11 Cases. Our long-term liquidity requirements and the adequacy of our capital resources are difficult to predict at this time.
  • We may be unable to comply with restrictions or with budget, liquidity, or other covenants imposed by the agreements governing the DIP Facility. Such non-compliance could result in an event of default under the terms of the DIP Facility that, if not cured or waived, would have a material adverse effect on our business, financial condition and results of operations.
  • Competing plans of reorganization, which could have less favorable terms or result in significant litigation and expenses.
  • As a result of the Chapter 11 Cases, our historical financial information may not be indicative of our future performance, which may be volatile.
  • If the RSA is terminated, our ability to confirm and consummate the Plan could be materially and adversely affected.
  • In certain instances, a Chapter 11 case may be converted to a case under Chapter 7 of the Bankruptcy Code.
  • We may be subject to claims that will not be discharged in the Chapter 11 Cases, which could have a material adverse effect on our financial condition and results of operations.
  • The Chapter 11 Cases limit the flexibility of our management team in running our business.
  • The commencement of the Chapter 11 Cases has consumed and will continue to consume a substantial portion of the time and attention of our management and will impact how our business is conducted, which may have an adverse effect on our business and results of operations.
  • On the effective date of the Plan, the composition of our board of directors will change substantially.
  • Adverse publicity in connection with the Chapter 11 Cases or otherwise could negatively affect our businesses.
  • Our business and financial performance largely depends on the level of activity in the natural gas and oil industries.
  • We may not have sufficient cash and/or be able to access liquidity alternatives in the credit and capital markets to meet our liquidity needs.
  • Our business and financial performance has suffered and could suffer further if the levels of hydraulic fracturing continue to decline or cease as a result of the low commodity price of oil and natural gas, development of new processes, increased regulation or a continued decrease in drilling activity.
  • We operate in an increasingly competitive market.
  • We have been and may continue to be adversely affected by decreased demand for our proppant or the development by our competitors of alternative proppants.
  • The success of our business depends on achieving our strategic objectives, including the diversification of our product and service portfolio.
  • The outstanding indebtedness under our Amended Credit Agreement and the DIP Facility is, and any Exit Facility or other future debt arrangements would most likely be, secured by substantially all of our assets and guaranteed by our two domestic operating subsidiaries, subject to certain exceptions. We may be unable to repay or refinance our debt as it becomes due, whether at maturity or as a result of acceleration.
  • We rely upon, and receive a significant percentage of our revenues from, a limited number of key customers and end users.
  • The operations of our customers, and thus the results of our operations, are subject to a number of operational risks, interruptions and seasonal trends.
  • Our entire oilfield and industrial production are expected to be manufactured at our McIntyre, Georgia and New Iberia, Louisiana plants. Any adverse developments at these plants could have a material adverse effect on our financial condition and results of operations.
  • We provide environmental warranties on certain of our containment and spill prevention products.
  • We rely upon intellectual property to protect our proprietary rights. Failure to protect our intellectual property rights may affect our competitive position, and protecting our rights or defending against third-party allegations of infringement may be costly.
  • Significant increases in fuel prices for any extended periods of time will increase our operating expenses.
  • Environmental compliance costs and liabilities could reduce our earnings and cash available for operations.
  • Our international operations subject us to risks inherent in doing business on an international level that could adversely impact our results of operations.
  • Undetected defects in our fracture simulation software could adversely affect our business.
  • We may issue preferred stock whose terms could adversely affect the voting power or value of our new common stock.
  • Our actual results could differ materially from results anticipated in forward-looking statements we make.
Management Discussion
  • For the year ended December 31, 2019, we reported net loss of $304.2 million, which was 303% worse compared to the $75.4 million net loss reported in the previous year.  This increase in net loss was primarily due to decreases in sales of technology products and services, base ceramic and sand proppants, and environmental technologies and services.  In addition, during the year ended December 31, 2019, we recorded impairments of various long-lived assets totaling approximately $225 million, as well as lower of cost or net realizable value inventory adjustments of $4.3 million.
  • Individual components of financial results by reportable operating segment are discussed below.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
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