-----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, GFApmu3AcUPlCMbJEMiARJbw3PjCJ2Y3pZGdoNQT3wZ8U4aqoZTRMKxbir68jtEm DTsxuHAXdh0zk0kp/m5Ppg== 0000909334-04-000186.txt : 20040609 0000909334-04-000186.hdr.sgml : 20040609 20040609164219 ACCESSION NUMBER: 0000909334-04-000186 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040608 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20040609 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: 04856300 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-60904.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 June 9, 2004 Date of earliest event reported June 8, 2004 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 June 8, 2004 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. 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 /s/ Herb Mee, Jr. Herb Mee, Jr., President Date: June 9, 2004 EXHIBIT INDEX Exhibit No. Description Method of Filing --- ----------- ---------------- 99 Press Release dated June 8, 2004 Filed herewith electronically EX-99 2 bcform8kex99-60904.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 COMPLETES PLACEMENT OF $1,200,000 OF PARTICIPATING NOTES WITH WARRANTS FOR IMMEDIATE RELEASE: Tuesday, June 8, 2004 Oklahoma City, Oklahoma --- The Beard Company (OTCBB:BRCO) today reported that it has completed the sale of $1,200,000 of Participating Notes with Warrants due November 30, 2006 to a group of private investors. $500,000 of the Notes were sold by an investment banking firm which received a 6% commission thereon. $700,000 of the Notes were sold by the Company. The Notes were accompanied by Warrants to purchase a total of 240,000 shares of Beard common stock at exercise prices ranging from $0.27 to $0.46 per share. The exercise price of the Warrants was determined by the weighted average closing sale price of the Company's stock for the 90 days preceding the date of each subscription. The Notes bear interest at an annual rate equal to the Wall Street Journal Prime Rate (the "Index") plus 4%, with a floor of 10%. The Index is currently 4%, so the initial rate is 10%. The Notes will bear interest only until November 30, 2004 and will then amortize with equal payments of principal and interest over the ensuing eight quarters. The Note holders will also collectively receive at maturity a bonus/production payment of approximately $1 per ton for the coal recovered to such date from one of the reclamation projects which the Company expects to commence soon. Herb Mee, Jr., President of the Company, stated: "Demand for our coal reclamation services is at the highest level in the Company's history as a result of the current high range of natural gas prices which has ballooned the spot price of Appalachian coal to the $50 to $55 per ton level. The Company is actively pursuing seven different coal reclamation projects and expects to finalize agreements on the first two of these shortly." "Proceeds of the Notes will be used for working capital," Mee added. "Primary purpose of the offering was to provide the working capital necessary to retire the Company's remaining short-term debt and to fund the Company's operations until the anticipated coal projects have been commenced and are producing positive cash flow." Neither the 10% Participating Notes nor the Warrants have been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. 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 fertilizer 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. # # # # # FOR FURTHER INFORMATION CONTACT: Herb Mee, Jr. Fax Number (405) 842-9901 Email: hmeebeardco.com -----END PRIVACY-ENHANCED MESSAGE-----