-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Bpyhdlf7uWkLHyymxM4A9g+h0A70W/SyaUu49ed17PF6DF17GCX2Xu70OO4AZb9P YA/Xpl/Cmh5V+vLseyNZYg== 0000909334-03-000215.txt : 20030516 0000909334-03-000215.hdr.sgml : 20030516 20030516123913 ACCESSION NUMBER: 0000909334-03-000215 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030514 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030516 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BEARD CO /OK CENTRAL INDEX KEY: 0000909992 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INORGANIC CHEMICALS [2810] IRS NUMBER: 730970298 STATE OF INCORPORATION: OK FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12396 FILM NUMBER: 03707846 BUSINESS ADDRESS: STREET 1: 5600 N MAY AVE STREET 2: STE 320 CITY: OKLAHOMA CITY STATE: OK ZIP: 73112 BUSINESS PHONE: 4058422333 MAIL ADDRESS: STREET 1: 5600 N MAY STREET 2: STE 320 CITY: OKLAHOMA CITY STATE: OK ZIP: 73112 FORMER COMPANY: FORMER CONFORMED NAME: BEARD INVESTMENT CO DATE OF NAME CHANGE: 19930730 8-K 1 bcform8k-51603.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report May 16, 2003 Date of earliest event reported May 14, 2003 THE BEARD COMPANY (Exact name of registrant as specified in its charter) Oklahoma 0-12396 73-0970298 (State or other jurisdiction of (Commission File Number) (I.R.S. Employer incorporation or organization) Identification Number) Enterprise Plaza 5600 N. May Avenue Suite 320 Oklahoma City, Oklahoma 73112 (Address of principal executive offices) (Zip Code) N/A (Former name or former address, if changed since last report) THE BEARD COMPANY FORM 8-K Item 7. Financial Statements and Exhibits. (c) The following exhibits are filed with this Form 8-K and are identified by the numbers indicated: Exhibit No. Description --- ----------- 99 Press Release dated May 14, 2003 Item 9. Regulation FD Disclosure. Complete details concerning the matter which Registrant has elected to disclose are set forth in the News Release attached as Exhibit 99 hereto, which is incorporated herein by reference. This Exhibit is filed under both Item 9 and Item 12. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. THE BEARD COMPANY HERB MEE, JR. Herb Mee, Jr., President Date: May 16, 2003 INDEX TO EXHIBITS Exhibit Number Description Method of Filing - ------ ----------- ---------------- 99 Press Release dated May 14, 2003 Filed herewith electronically EX-99 3 bcexh99form8k-51603.txt Exhibit 99 [THE BEARD COMPANY LOGO] THE BEARD COMPANY News Release Enterprise Plaza, Suite 320 5600 North May Avenue Herb Mee, Jr., President Oklahoma City, Oklahoma 73112 (405) 842-2333 OTCBB: BRCO THE BEARD COMPANY REPORTS RESULTS FOR FIRST QUARTER OF 2003; UPDATES STATUS OF McELMO DOME LITIGATION FOR IMMEDIATE RELEASE: Wednesday, May 14, 2003 Oklahoma City, Oklahoma --- The Beard Company (OTCBB:BRCO) today announced that the first quarter of 2003 produced a net loss of $498,000, or $0.27 per share, on revenues of $194,000, compared with a net loss of $461,000, or $0.25 per share, on revenues of $90,000 in the 2002 first quarter. Continuing operations for the 2003 first quarter produced a loss of $518,000, or $0.28 per share, while discontinued operations produced earnings of $20,000, or $0.01 per share. The comparable 2002 quarter resulted in a loss of $413,000, or $0.22 per share, from continuing operations and a net loss of $48,000, or $0.03 per share, from discontinued operations. Herb Mee, Jr., President, stated: "On March 26 we advised that the 11 objectors to the McElmo Dome Settlement had filed a Petition for Certiorari with the U.S. Supreme Court. Between April 4 and April 16 various parties to the litigation filed waivers of their right to respond. Following such filings the Petition began circulating among the Justices of the Court for disposition. We are advised that the Court has taken a brief recess until May 22nd. We expect that the Court will rule on the Petition within the next 30 days, and strongly believe that the ruling will be in our favor. In such event we should shortly begin to receive distribution of the Settlement funds. We will continue to keep you advised." The Beard Company's common stock is traded on the OTC Bulletin Board under the symbol: BRCO. Its operations consist principally of coal reclamation activities, carbon dioxide (CO2) gas production, the construction of composting plants in China, and its e-commerce activities aimed at developing business opportunities to leverage starpay(TM)'s intellectual property portfolio of Internet payment methods and security technologies. Fax Number (405) 842-9901 Email: hmeebeardco.com THE BEARD COMPANY AND SUBSIDIARIES Results of Operations (Unaudited)
For the Three Months Ended March 31, --------------- 2003 2002 ------------ ------------ Revenues $ 194,000 $ 90,000 Expenses 627,000 441,000 ------------ ------------ Operating loss (433,000) (351,000) Other expense (85,000) (62,000) ------------ ------------ Loss from continuing operations before income taxes (518,000) (413,000) Income taxes - - ------------ ------------ Loss from continuing operations (518,000) (413,000) Earnings (loss) from discontinued operations 20,000 (48,000) ------------ ------------ Net loss $ (498,000) $ (461,000) ============ ============ Net earnings (loss) per average common share outstanding: Basic and diluted: Loss from continuing operations $ (0.28) $ (0.22) Earnings (loss) from discontinued operations 0.01 (0.03) ------------ ------------ Net loss $ (0.27) $ (0.25) ============ ============ Weighted average common shares outstanding - basic and diluted 1,829,000 1,829,000 ============ ============ - --------------- (1) Net earnings (loss) per common share for 2003 and 2002 were determined by dividing the net earnings (loss) attributable to common shareholders by the weighted average number of shares of common stock outstanding during the periods. (2) Statements regarding future profitability and operations, including the timing of those activities, are "forward looking statements" within the meaning of the Private Securities Litigation Report Act. The statements involve risks that could significantly impact The Beard Company. These risks include, but are not limited to, adverse general economic conditions, unexpected costs or delays or other unexpected events, as well as risks related to the McElmo Dome settlement and other risks discussed in detail in The Beard Company's filings with the Securities and Exchange Commission.
# # # # # FOR FURTHER INFORMATION CONTACT: Herb Mee, Jr. President THE BEARD COMPANY e-mail: hmee@beardco.com -----END PRIVACY-ENHANCED MESSAGE-----