SPND files Form 12b-25, expects net income near $290K

Rhea-AI Filing Summary

Spindletop Oil & Gas Co. filed a Form 12b-25 to report that its Form 10-Q for the period ended September 30, 2025 will be filed late because it is still waiting for information from oil and gas purchasers and third-party operators. The company expects stronger results, with net income for the nine-month period anticipated to be around $290,000, up from $84,000 for the same period in 2024. Total revenues for the nine months are expected to rise by about $75,000, while total expenses are expected to decline by about $25,000 compared to the prior-year period.

Insights

Equity analyst

Late 10-Q filing, but preliminary figures point to higher profit.

Spindletop Oil & Gas Co. has notified a delay in filing its Form 10-Q because it is waiting on third-party data from oil and gas purchasers and operators. This is an administrative timing issue, not described as a change in accounting or audit problems.

The company indicates that business performance has improved. For the nine months ended September 30, 2025, it anticipates net income of about $290,000, compared with $84,000 for the same period in 2024. It also expects total revenues to be higher by roughly $75,000 and total expenses to be lower by about $25,000.

Overall, this points to better profitability despite the filing delay. The eventual Form 10-Q for the period ended September 30, 2025 will provide full details on the revenue mix, cost structure, and whether these trends are sustainable.

SEC File No. 0-18774 

CUSIP No. 848550 20 8

UNITED STATES 

SECURITIES AND EXCHANGE COMMISSION 

Washington, D.C.

FORM 12b-25 

NOTIFICATION OF LATE FILING 

[ X ] Form 10-K [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q [ ] Form 10-D [ ] Form N-SAR

[ ] Form N-CEN [ ] Form N-CSR 

For the Period Ended: September 30, 2025

[ ]       Transition Report on Form 10-K 

[ ]       Transition Report on Form 20-F 

[ ]       Transition Report on Form 11-K 

[ ]       Transition Report on Form 10-Q

For the Transition Period Ended: ____________________________________

Nothing in this form shall be construed to imply that the Commission 

has verified any information contained herein. 

If the notification relates to a portion of the filing checked above, 

Identify the Item(s) to which the notification relates: 

PART I - REGISTRANT INFORMATION 

Spindletop Oil & Gas Co. 

(Full name of registrant)

N/A 

(Former Name if Applicable)

12850 Spurling Dr., Suite 200 

(Address of Principal Executive Office)

Dallas, Texas 75230 

(City, State and Zip Code)

PART II - RULES 12b-25(b) AND (c) 

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)   

(a) The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense

 [ X ] 

(b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN, or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and

(c) The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

PART III - NARRATIVE 

State below in reasonable detail why the Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR or the transition report or portion thereof, could not be filed within the prescribed time period. 

Spindletop Oil & Gas Co. is unable to file its annual report on Form 10-Q for the period ending September 30, 2025, without unreasonable effort and expense due to the late receipt of information required from purchasers of oil and gas and from third party operators.  

PART IV - OTHER INFORMATION 

(1) Name and telephone number of person to contact in regard to this notification.  

	Chris G. Mazzini	972 644-2581
	(Name)	(Area Code) (Telephone Number)

(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s), [X] YES [ ] NO 

(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? [X] YES [ ] NO 

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made. 

Net income (loss) for the nine-month period ending September 30, 2025, is anticipated to increase, as compared with net income for the same period in 2024. In 2024 we reported a net income of $84,000. We anticipate that the Company will report a net income for the nine-month period ending September 30, 2025, in the range of approximately $290,000.         

Total revenues are expected to have increased approximately $75,000 for the nine-month period ending September 30, 2025, compared to that reported for the same nine-month period of 2024. Total expenses for the nine-month period ending September 30, 2025, are expected to have decreased by approximately $25,000 compared to that previously reported for the same six-month period in 2024. 

SPINDLETOP OIL & GAS CO. 

(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

November 17, 2025 

By: /s/ Chris G. Mazzini 

Chris G. Mazzini 

President, Principal Executive Officer

INSTRUCTION: The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative's authority to sign on behalf of the registrant shall be filed with the form.

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001)

GENERAL INSTRUCTIONS 

1. This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the General Rules and Regulations under the Securities and Exchange Act of 1934.

 2. One signed original and four conformed copies of this form and amendments thereto must be completed and filed with the Securities and Exchange Commission, Washington, D.C. 20549, in accordance with rule 0-3 of the General Rules and Regulations under the Act. The information contained in or filed with the form will be made a matter of public record in the Commission files. 

3. A manually signed copy of the form and amendments thereto shall be filed with each national securities exchange on which any class of securities of the registrant is registered. 

4. Amendments to the notifications must also be filed on form 12b-25 but need not restate information that has been correctly furnished. The form shall be clearly identified as an amended notification. 

5. Interactive data submissions. This form shall not be used by electronic filers with respect to the submission or posting of an Interactive Data File (Sec 232.11 if this chapter). Electronic filers unable to submit or post an Interactive Data File within the time period prescribed should comply with either Rule 201 or 202 of Regulation S-T (Sec 232.201 and Sec 232.202) of this chapter).

FAQ

Why did Spindletop Oil & Gas Co. (SPND) file a Form 12b-25 for its 10-Q?

Spindletop Oil & Gas Co. filed a Form 12b-25 because it could not file its Form 10-Q for the period ended September 30, 2025 without unreasonable effort and expense, due to the late receipt of required information from purchasers of oil and gas and from third-party operators.

Is Spindletop Oil & Gas Co. (SPND) current on its other SEC filings?

Yes. The company states that all other required periodic reports under the Securities Exchange Act of 1934 have been filed during the preceding 12 months or the shorter period it was required to file.

How is Spindletop Oil & Gas Co. (SPND) expecting its 2025 net income to change?

For the nine-month period ended September 30, 2025, Spindletop anticipates net income of approximately $290,000, compared with reported net income of $84,000 for the same period in 2024.

What revenue change does Spindletop Oil & Gas Co. (SPND) expect for the nine months ended September 30, 2025?

The company expects total revenues for the nine months ended September 30, 2025 to have increased by approximately $75,000 compared to the same nine-month period in 2024.

How are Spindletop Oil & Gas Co. (SPND) expenses expected to change for 2025?

Spindletop anticipates that total expenses for the nine months ended September 30, 2025 will have decreased by about $25,000 compared to those reported for the comparable period in 2024.

Does Spindletop Oil & Gas Co. (SPND) expect significant changes in its results of operations?

Yes. The company indicates that a significant change in results of operations is expected, driven by higher anticipated net income and changes in revenues and expenses for the nine months ended September 30, 2025 versus the same period in 2024.