US ENERGY CORP
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 7, 2024
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Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Sales of Unregistered Securities
There have been no sales of unregistered securities during the quarter ended June 30, 2024, and from the period from July 1, 2024, to the filing date of this Report.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
The following table sets forth share repurchase activity for the respective periods:
| Total Number · Approximate | ||||
|---|---|---|---|---|
| of Shares · Dollar Value of | ||||
| Purchased as · Shares that | ||||
| Part of · May Yet Be | ||||
| Publicly · Purchased | ||||
| Total Number | Average | Announced | Under the | |
| of Shares | Price Paid Per | Plans or | Plans or | |
| Period | Purchased | Share | Programs(1) | Programs(1) |
| April 1- April 30, 2024 | 55,800 | $1.28 | 55,800 | $4,156,836 |
| May 1 - May 31, 2024 | 46,900 | $1.13 | 46,900 | $4,103,079 |
| June 1 - June 30, 2024 | 42,600 | $1.04 | 42,600 | $4,058,047 |
| Total | 145,300 | $1.16 | 145,300 | $4,058,047 |
(1)On March 19, 2024, the Board of Directors authorized and approved an extension of the ongoing share repurchase program for up to $5.0 million of the currently outstanding shares of the Company’s common stock originally approved by the Board of Directors on April 26, 2023, and set to expire on June 30, 2024. Subject to any future extension in the discretion of the Board of Directors of the Company, the repurchase program is now scheduled to expire on June 30, 2025, or when a maximum of $5.0 million of the Company’s common stock has been repurchased, or when such program is discontinued by the Board of Directors. Under the stock repurchase program, shares may be repurchased from time to time in the open market or through negotiated transactions at prevailing market rates, or by other means in accordance with federal securities laws. Repurchases are made at management’s discretion at prices management considers to be attractive and in the best interests of both the Company and its stockholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company’s financial performance. The repurchase program is funded using the Company’s working capital. The program does not obligate the Company to acquire a minimum amount of shares.
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