Quarterly / Earnings Reports | Second Quarter (2Q) Update | Financial Results | Capital Markets
Lucas Cuts Operating Expenses 44%; Eyes Future Deals
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Lucas Energy, Inc. announced its financial results for its fiscal 2016 second quarter, the three months ended September 30, 2015.
Key Points: Over the next several months, we plan to continue to seek to enter into a combination with another entity and/or to acquire additional significant assets, in the event we are able to raise appropriate funding Reduced total operating expenses by 44%Anthony C. Schnur, Lucas's Chief Executive Officer, said: "We achieved significant milestones during our 2016 second quarter. First and foremost, we regained compliance with the NYSE MKT's continued listing requirements which allowed us to go forward with certain financing transactions including the entry into a new line of credit and the restructuring of our existing term loan with an extended maturity…
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