STOCK TITAN

Spindletop Oil & Gas (SPND) delays Q1 2026 10-Q filing after late operator data

(High)
(Negative)
Form Type
NT 10-Q

Rhea-AI Filing Summary

Spindletop Oil & Gas Co. filed a Form 12b-25 notifying the SEC that it cannot timely file its Form 10-Q for the period ended March 31, 2026 because required data from purchasers of oil and gas and third-party operators was received late.

The company anticipates $155,000 in net income for the three-month period, with total revenue of approximately $1,350,000 and operating expenses of about $1,180,000.

Positive

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Negative

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Insights

Late third‑party data caused a routine delayed 10‑Q filing; disclosed estimated results.

Spindletop invoked Rule 12b-25 after delaying receipt of production/payor and operator statements, a common operational timing issue in oil and gas accounting. The company provided provisional profitability and revenue figures for the quarter ended March 31, 2026.

Timing risk centers on final revenue reconciliation and working capital items; subsequent filing should reconcile operator settlements and confirm the provisional $155,000 net income estimate.

Net income (estimate) $155,000 three-month period ended March 31, 2026
Total revenue (estimate) $1,350,000 three-month period ended March 31, 2026
Operating expenses (estimate) $1,180,000 three-month period ended March 31, 2026
Filing type Form 12b-25 notification of late filing for Form 10-Q
Rule 12b-25 regulatory
"unable to file its quarterly report on Form 10-Q ... without unreasonable effort and expense"
Rule 12b-25 is an SEC filing provision that lets a company notify regulators and the public that it cannot file a required periodic report (like a quarterly or annual report) on time and explains the reason for the delay. For investors, the notice is a formal heads-up that financial information will arrive late—similar to a company calling to say it will be late turning in homework—so it signals increased uncertainty and may affect trading and risk assessments until the filing is available.
third party operators industry
"late receipt of information required from purchasers of oil and gas and from third party operators"
Form 10-Q regulatory
"unable to file its quarterly report on Form 10-Q for the period ending March 31, 2026"
A Form 10-Q is a detailed report that publicly traded companies are required to file with regulators three times a year, providing an update on their financial health and business activities. It is important for investors because it offers timely insights into a company's performance, helping them make informed decisions about buying or selling stocks. Think of it as a regular check-up report that shows how well a company is doing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

Why did Spindletop (SPND) file a Form 12b-25 delaying its Q1 2026 10-Q?

Because required information from oil and gas purchasers and third-party operators arrived late, Spindletop cited unreasonable effort and expense to complete the quarter's Form 10-Q on time.

What provisional results did Spindletop disclose for Q1 2026 in the 12b-25?

Spindletop estimated net income of $155,000, revenue of approximately $1,350,000, and operating expenses near $1,180,000 for the three-month period ended March 31, 2026.

Will the delayed filing change previously filed reports for Spindletop?

All other required periodic reports for the prior 12 months were reported as filed. The 12b-25 covers only the delayed Form 10-Q for the quarter ended March 31, 2026.

Who can I contact about this 12b-25 notification from Spindletop?

The notice lists Chris G. Mazzini, President, as the contact with phone number 972-644-2581 for inquiries regarding the late Form 10-Q filing and the company’s provisional results.

ASEC 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: March 31, 2026

[ ]       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 quarterly report on Form 10-Q for the period ending March 31, 2026, 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.

 

The Company anticipates that it will post net income for the three-month period ending March 31, 2026, of approximately $155,000, compared to net income of $150,000 reported for the same period in 2025.

 

Total revenues for the three-month period ended March 31, 2026, is anticipated to be approximately $1,350.000 as compared to $1.403,000 for the same period in 2025. Operating expenses for the three-month period ending March 31, 2026, are anticipated to be approximately $1,180,000 as compared to approximately $1,236,000 for the same period in 2025.

        

 

 

 
 

 

 

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.

 

 

May 18, 2026

 

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).