What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2024-03-19 compared with 2023-03-31 · 14 added, 160 removed, 2 unchanged (99% of the section changed)

Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Information and Approximate Number of Holders of Common Stock

common stock is quoted on the OTCQB under the symbol “CRKR.” The following table sets forth, for the periods indicated, the

reported high and low bid quotations for our common stock as reported on the OTCQB.

The bid prices reflect inter-dealer quotations, do

not include retail markups, markdowns, or commissions, and do not necessarily reflect actual transactions.

Year Ended December 31, 2022:

First Quarter (January 1 – March 31)

Second Quarter (April 1 – June 30)

Third Quarter (July 1 – September 30)

Fourth Quarter (October 1 – December 31)

Year Ended December 31, 2021:

First Quarter (January 1 – March 31)

Second Quarter (April 1 – June 30)

Third Quarter (July 1 – September 30)

Fourth Quarter (October 1 – December 31)

of December 31, 2022, according to the records of our transfer agent, we had 71 record holders of our common stock.

Because brokers and

other institutions hold shares on behalf of stockholders, we are unable to estimate the total number of stockholders represented by these

record holders.

have never declared or paid dividends on our common stock and intend to retain all available funds and any future earnings for use in

the operation of our business and do not anticipate paying any dividends on our common stock in the foreseeable future, if at all.

future determination to declare dividends will be made at the discretion of our board of directors and will depend on our financial condition,

operating results, capital requirements, general business conditions and other factors that our board of directors may deem relevant.

for Registrant’s Common Equity .

Our common stock is quoted on the Nasdaq under the symbol “PROP.”

As of March 13, 2024, there were approximately 86 record holders of our common stock.

Because brokers and other institutions

hold shares on behalf of stockholders, we are unable to estimate the total number of stockholders represented by these record holders.

We have not paid any cash dividends on our common stock to date.

We may retain future earnings, if any, for future operations, expansion

and debt repayment and have no current plans to pay cash dividends for the foreseeable future.

Any decision to declare and pay dividends

in the future will be made at the discretion of the Board and will depend on, among other things, our results of operations, financial

condition, cash requirements, contractual restrictions and other factors that the Board may deem relevant.

In addition, our ability to

pay dividends may be limited by covenants of any existing and future outstanding indebtedness we or our subsidiaries incur.

anticipate declaring any cash dividends to holders of the common stock in the foreseeable future.

Sales of Unregistered Securities .

sold the securities described below within the past year which were not registered under the Securities Act.

implemented a 1-for-20 reverse stock split of our outstanding shares of common stock that was effective on January 23, 2020.

Unless otherwise

noted, all share and related option, warrant, and convertible security information presented has been retroactively adjusted to reflect

the reduced number of shares, and the increase in the share price which resulted from this action.

March 24, 2021, the Company granted warrants to purchase shares the Company’s common stock to a consultant as follows:

to purchase 300,000 shares with an exercise price of $1.00 per share, and a term of 5 years;

and, in connection with the issuance of

Series B preferred stock, a warrant to purchase 180,000 shares with an exercise price of $1.5278 per share, and term of 5 years.

June 30, 2021, we issued 6,249 shares of our Series A preferred stock to Scott D.

Kaufman, our Chief Executive Officer, for settlement

of $62,490 of compensation payable to Mr.

Kaufman under his employment agreement from April 1, 2021 through June 30, 2021.

of our Series A preferred stock is convertible into a number of shares of our Common Stock determined by dividing the aggregate stated

value for the Series A preferred stock being converted (initially $10.00 per share, subject to adjustment as set forth in the currently

effective Series A Certificate of Designation) by the then-applicable conversion price (initially $0.25 per share, and $0.175 as of December

31, 2021, subject to adjustment as set forth in the currently effective Series A Certificate of Designation).

We issued the foregoing

securities in reliance on the exemption from registration provided under Section 4(a)(2) of the Securities Act.

September 30, 2021, we issued 6,249 shares of our Series A preferred stock to Scott D.

Kaufman, our Chief Executive Officer, for settlement

of $62,490 of compensation payable to Mr.

Kaufman under his employment agreement from July 1, 2021 through September 30, 2021.

of our Series A preferred stock is convertible into a number of shares of our Common Stock determined by dividing the aggregate stated

value for the Series A preferred stock being converted (initially $10.00 per share, subject to adjustment as set forth in the currently

effective Series A Certificate of Designation) by the then-applicable conversion price (initially $0.25 per share, and $0.175 as of December

31, 2021, subject to adjustment as set forth in the currently effective Series A Certificate of Designation).

We issued the foregoing

securities in reliance on the exemption from registration provided under Section 4(a)(2) of the Securities Act.

October 12, 2021, the Company granted certain directors warrants to purchase a total of 30,000 shares of the Company’s common stock

with an exercise price of $1.50 per share, and a term of 3 years.

October 20, 2021, the Company granted a director warrants to purchase 400,000 shares of the Company’s common stock with an exercise

price of $1.50 per share, a term of 3 years, and vesting as follows:

20% upon execution of the Services Agreement;

20% on January 20,

20% on April 20, 2022;

20% on July 20, 2022;

and 20% on October 20, 2022.

October 31, 2021, the Company granted a consultant warrants to purchase 750,000 shares of the Company’s common stock with an exercise

price of $1.50 per share, a term of 3 years, and vesting as follows:

40% upon execution of the Services Agreement;

20% on April 1, 2022;

20% on August 1, 2022;

and 20% on December 1, 2022.

December 1, 2021, the Company granted certain of its Directors and employees options to purchase a total of 7,000,000 of the Company’s

common stock with an exercise price of $2.65 per share, a term of 5 years, and a shall vest upon a volume weighted average price (“VWAP”)

of the Company’s common stock reaching the following targets:

at such time as there is a VWAP equal to $2.50 of the Company’s

common stock when computed over 30 consecutive trading days, 25% of each Executive’s Options shall vest;

at such time as there

is a VWAP equal to $3.00 of the Company’s common stock when computed over 30 consecutive trading days, 25% of each Executive’s

Options shall vest;

at such time as there is a VWAP equal to $3.50 of the Company’s common stock when computed over 30 consecutive

trading days, 25% of each Executive’s Options shall vest;

and at such time as there is a VWAP equal to $4.00 of the Company’s

common stock when computed over 30 consecutive trading days, 25% of each Executive’s Options shall vest.

December 31, 2021, we issued 6,250 shares of our Series A preferred stock to Scott D.

Kaufman, our Chief Executive Officer, for settlement

of $62,500 of compensation payable to Mr.

Kaufman under his employment agreement from October 1, 2021 through December 31, 2021.

on December 31, 2021 we issued 673 shares of our Series A preferred stock to Paul L.

Kessler, our Executive Chairman, for settlement

of $6,730 of compensation payable to Mr.

Kessler under his employment agreement from December 23, 2021 through December 31, 2021.

share of our Series A preferred stock is convertible into a number of shares of our Common Stock determined by dividing the aggregate

stated value for the Series A preferred stock being converted (initially $10.00 per share, subject to adjustment as set forth in the

currently effective Series A Certificate of Designation) by the then-applicable conversion price (initially $0.25 per share, and $0.175

as of December 31, 2021, subject to adjustment as set forth in the currently effective Series A Certificate of Designation).

the foregoing securities in reliance on the exemption from registration provided under Section 4(a)(2) of the Securities Act.

January 1, 2022, the Company granted warrants to purchase shares the Company’s common stock to a consultant in connection with

the issuance of Series C preferred stock as follows:

a warrant to purchase 400,000 shares with an exercise price of $1.50 per share,

and a term of 5 years;

a warrant to purchase 250,000 shares with an exercise price of $2.50 per share, and term of 5 years;

and a warrant

to purchase 250,000 shares with an exercise price of $2.75 per share, and term of 5 years.

January 1, 2022, the Company granted an officer 7,722 shares Series A preferred stock for settlement of $77,216 in compensation under

his employment agreement for services provided through March 31, 2022.

January 25, 2022, the Company granted an officer 30,000 shares of common stock as compensation under his employment agreement for services

provided through December 31, 2021.

On December 31, 2022 the shares were rescinded and returned to the Company.

May 31, 2022, the Company issued 169,205 shares of common stock to Highwire Energy Partners, Inc.

(“Highwire”) under the

terms of the Binding Memorandum of Understanding for a Proposed Transaction.

August 24, 2022, the Company entered into the Settlement with Alpha.

The Settlement relates to a dispute with the Company’s then-CEO

in connection with Alpha’s partial exercise on March 20, 2022 of the Warrant Shares.

Pursuant to the Settlement, Alpha agreed to

exchange the Warrant Shares for the Alpha Note.

As of December 31, 2022 Alpha had returned 600,000 shares of common stock in connection

with the Settlement.

March 31, 2022, we issued 3,409 shares of our Series A preferred stock to Scott D.

Kaufman, our former co-Chief Executive Officer, for

settlement of $34,090 of compensation payable to Mr.

Kaufman under his employment agreement from January 1, 2022 through March 31, 2022.

In addition, on March 31, 2022 we issued 4,941 shares of our Series A preferred stock to Paul L.

Kessler, our Executive Chairman, for

settlement of $49,410 of compensation payable to Mr.

Kessler under his employment agreement from January 1, 2022 through March 31, 2022.

June 30, 2022, we issued 5,361 shares of our Series A preferred stock to Scott D.

Kaufman, our former co-Chief Executive Officer, for

settlement of $53,610 of compensation payable to Mr.

Kaufman under his employment agreement from April 1, 2022 through June 30, 2022.

In addition, on June 30, 2022 we issued 4,941 shares of our Series A preferred stock to Paul L.

Kessler, our Executive Chairman, for

settlement of $49,410 of compensation payable to Mr.

Kessler under his employment agreement from April 1, 2022 through June 30, 2022.

September 30, 2022, we issued:

902 shares of our Series A preferred stock to Scott D.

Kaufman, our former co-Chief Executive Officer,

for settlement of $9,020 of compensation payable to Mr.

Kaufman under his employment agreement from July 1, 2022 through July 8, 2022;

2,958 shares of our Series A preferred stock to Paul L.

Kessler, our Executive Chairman, for settlement of $29,580 of compensation payable

Kessler under his employment agreement from July 1, 2022 through September 30, 2022;

8,333 shares of our Series A preferred stock

Maatta, our Chief Executive Officer, for settlement of $83,333 of compensation payable to Mr.

Maatta under his employment

agreement from May 1, 2022 through September 30, 2022;

and 3,426 shares of our Series A preferred stock to Scott Sheikh, our Chief Operating

Officer and General Counsel, for settlement of $34,260 of compensation payable to Mr.

Sheikh under his employment agreement from July

16, 2022 through September 30, 2022.

December 31, 2022, we issued:

3,792 shares of our Series A preferred stock to Paul L.

Kessler, our Executive Chairman, for settlement

of $37,920 of compensation payable to Mr.

Kessler under his employment agreement from October 1, 2022 through December 31, 2022;

shares of our Series A preferred stock to John D.

Maatta, our Chief Executive Officer, for settlement of $50,000 of compensation payable

Maatta under his employment agreement from October 1, 2022 through December 31, 2022;

4,110 shares of our Series A preferred stock

to Scott Sheikh, our Chief Operating Officer and General Counsel, for settlement of $41,110 of compensation payable to Mr.

his employment agreement from October 1, 2022 through December 31, 2022, and 685 shares of our Series A preferred stock to Alan Urban,

our former Chief Financial Officer, for settlement of $6,850 of compensation payable to Mr.

Urban under his employment agreement from

October 1, 2022 through December 31, 2022.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity