UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(D) of the Securities Exchange Act Of 1934
Date of report (Date of earliest event reported):
April 23, 2014
| DALECO RESOURCES CORPORATION | ||
| (Exact name of registrant as specified in charter) | ||
| Nevada | 0-12214 | 23-2860734 |
|
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
17 Wilmont Mews, 5th Floor, West Chester, Pennsylvania 19382
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: 610-429-0181
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 Other Events
On September 16, 2013, the Registrant’s wholly-owned subsidiary, Westlands Resources Corporation (“WRC”), received an enforcement action from the Texas Railroad Commission (“RRC”). Due to the enforcement action, the renewal of WRC’s operator's permit was suspended until such action is resolved. WRC is not permitted to sell oil until its operator’s permit is renewed. As such, the Company's consolidated revenues for the second quarter of 2014 will be significantly lower than the second quarter of 2013. Additionally, the Company's consolidated revenues for the third quarter of 2014 and beyond will be lower than the third quarter of 2013 and beyond due to the majority of WRC’s wells not producing because their respective production tanks have reached their capacity limitations. Management of the company anticipates the renewal of the operator’s permit to be completed during the third quarter of 2014; however there can be no assurances as to when the renewal of WRC’s operator’s permit will be approved by the RRC and when the sales of oil from WRC’s operated properties will resume.
Item 9.01(d) Exhibits
No exhibits are filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: April 25, 2014 | DALECO RESOURCES CORPORATION | ||
| By: | /s/ GARY J. NOVINSKIE | ||
| Name: | Gary J. Novinskie | ||
| Title: | President | ||