$REI
Ring Energy Inc

2017 Q2 Form 10-Q Financial Statement

#000114420417041208 Filed on August 08, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $14.50M $7.105M
YoY Change 104.14% -20.86%
Cost Of Revenue $3.514M $2.540M
YoY Change 38.36% -3.42%
Gross Profit $10.99M $4.560M
YoY Change 140.99% -28.19%
Gross Profit Margin 75.77% 64.18%
Selling, General & Admin $2.370M $1.920M
YoY Change 23.44% -5.88%
% of Gross Profit 21.57% 42.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $76.77K $78.88K
YoY Change -2.67% 5.33%
% of Gross Profit 0.7% 1.73%
Operating Expenses $7.670M $4.630M
YoY Change 65.66% -13.13%
Operating Profit $2.622M -$25.52M
YoY Change -110.27% -2602.35%
Interest Expense $0.00 $86.54K
YoY Change -100.0% 9.53%
% of Operating Profit 0.0%
Other Income/Expense, Net $47.31K -$12.37K
YoY Change -482.4% -84.34%
Pretax Income $2.669M -$25.53M
YoY Change -110.45% -2813.82%
Income Tax $758.2K -$9.587M
% Of Pretax Income 28.41%
Net Earnings $1.911M -$15.94M
YoY Change -111.99% -3084.37%
Net Earnings / Revenue 13.17% -224.38%
Basic Earnings Per Share $0.04 -$0.41
Diluted Earnings Per Share $0.04 -$0.41
COMMON SHARES
Basic Shares Outstanding 49.16M shares 38.63M shares
Diluted Shares Outstanding 50.47M shares 38.63M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.10M $8.300M
YoY Change 45.78% 43.1%
Cash & Equivalents $12.34M $8.329M
Short-Term Investments
Other Short-Term Assets $400.0K $400.0K
YoY Change 0.0% -66.67%
Inventory
Prepaid Expenses $422.2K
Receivables $8.000M $2.900M
Other Receivables $900.0K $800.0K
Total Short-Term Assets $21.40M $12.47M
YoY Change 71.61% -8.25%
LONG-TERM ASSETS
Property, Plant & Equipment $288.7M $196.9M
YoY Change 46.62% -17.18%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $19.80M $19.20M
YoY Change 3.13%
Total Long-Term Assets $308.5M $216.1M
YoY Change 42.74% -9.09%
TOTAL ASSETS
Total Short-Term Assets $21.40M $12.47M
Total Long-Term Assets $308.5M $216.1M
Total Assets $329.9M $228.6M
YoY Change 44.31% -9.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.50M $3.600M
YoY Change 580.56% -48.57%
Accrued Expenses $0.00
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $24.50M $3.600M
YoY Change 580.56% -48.57%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $8.400M $7.700M
YoY Change 9.09% 22.22%
Total Long-Term Liabilities $8.400M $7.700M
YoY Change 9.09% -83.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.50M $3.600M
Total Long-Term Liabilities $8.400M $7.700M
Total Liabilities $33.00M $11.30M
YoY Change 192.04% -80.83%
SHAREHOLDERS EQUITY
Retained Earnings -$39.92M
YoY Change
Common Stock $49.17K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $297.0M $217.3M
YoY Change
Total Liabilities & Shareholders Equity $329.9M $228.6M
YoY Change 44.31% -9.04%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $1.911M -$15.94M
YoY Change -111.99% -3084.37%
Depreciation, Depletion And Amortization $76.77K $78.88K
YoY Change -2.67% 5.33%
Cash From Operating Activities $7.100M -$1.230M
YoY Change -677.24% -139.3%
INVESTING ACTIVITIES
Capital Expenditures -$50.37M -$4.520M
YoY Change 1014.38% -94.35%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$50.37M -$4.520M
YoY Change 1014.38% -94.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.00K 10.27M
YoY Change -100.1% -87.13%
NET CHANGE
Cash From Operating Activities 7.100M -1.230M
Cash From Investing Activities -50.37M -4.520M
Cash From Financing Activities -10.00K 10.27M
Net Change In Cash -43.28M 4.520M
YoY Change -1057.52% 54.79%
FREE CASH FLOW
Cash From Operating Activities $7.100M -$1.230M
Capital Expenditures -$50.37M -$4.520M
Free Cash Flow $57.47M $3.290M
YoY Change 1646.81% -96.04%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
9099391 USD
CY2016Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
7957035 USD
CY2016Q4 us-gaap Liabilities
Liabilities
17056426 USD
CY2017Q2 us-gaap Common Stock Value
CommonStockValue
49168 USD
CY2016Q4 us-gaap Common Stock Value
CommonStockValue
49113 USD
CY2017Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
336843882 USD
CY2016Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
335197845 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-39919478 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-44705985 USD
CY2016Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
406025 USD
CY2017Q2 us-gaap Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
19549961 USD
CY2016Q4 us-gaap Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
20051908 USD
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Accretion Expense
AccretionExpense
310749 USD
us-gaap Accretion Expense
AccretionExpense
234354 USD
CY2016Q2 us-gaap Oil And Gas Revenue
OilAndGasRevenue
7104609 USD
CY2017Q2 us-gaap Oil And Gas Revenue
OilAndGasRevenue
14503309 USD
CY2016Q2 us-gaap Oil And Gas Production Expense
OilAndGasProductionExpense
2200109 USD
CY2017Q2 us-gaap Oil And Gas Production Expense
OilAndGasProductionExpense
3514375 USD
CY2016Q2 us-gaap Production Tax Expense
ProductionTaxExpense
344035 USD
CY2017Q2 us-gaap Production Tax Expense
ProductionTaxExpense
691174 USD
CY2016Q2 us-gaap Cost Of Goods Sold Depreciation Depletion And Amortization
CostOfGoodsSoldDepreciationDepletionAndAmortization
2579201 USD
CY2017Q2 us-gaap Cost Of Goods Sold Depreciation Depletion And Amortization
CostOfGoodsSoldDepreciationDepletionAndAmortization
5136426 USD
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1920387 USD
CY2017Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2366149 USD
CY2016Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
32620696 USD
CY2017Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
11881697 USD
CY2016Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
74166 USD
CY2017Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
47311 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-25528459 USD
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-9586959 USD
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
758160 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-15941500 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
1910763 USD
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.41
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.41
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
2621612 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-25516087 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
61074997 USD
CY2017Q2 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 USD
CY2016Q2 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
25451988 USD
us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
87059 USD
us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
476437 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-417610 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4948634 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
5000000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
us-gaap Interest Paid Net
InterestPaidNet
0 USD
us-gaap Interest Paid Net
InterestPaidNet
468777 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
18558015 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-1787513 USD
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
-309511 USD
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
-1344 USD
rei Payments To Acquire Inventory For Development
PaymentsToAcquireInventoryForDevelopment
2816165 USD
rei Payments To Acquire Inventory For Development
PaymentsToAcquireInventoryForDevelopment
0 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
157200 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
rei Use Of Inventoryiin Property Development
UseOfInventoryiinPropertyDevelopment
2521265 USD
rei Use Of Inventoryiin Property Development
UseOfInventoryiinPropertyDevelopment
0 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
8000000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
-310897 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
0 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34509833 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34509833 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50434490 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1298561 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38625307 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38625307 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50474397 shares
CY2017Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1317502 shares
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
309511 USD
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
476437 USD
CY2017Q2 rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
812082 USD
rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
1803292 USD
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
2500000 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
5000000 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1378600 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y6M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
1 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0151 pure
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Per Share Weighted Average Price Of Shares Purchased
ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased
13.00
CY2017Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
5433037 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y6M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
668967 USD
CY2017Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2017Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2017Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000 shares
CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000 shares
CY2017Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
49168243 shares
CY2016Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
49113063 shares
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
186599 USD
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
50900000 USD
CY2017Q2 rei Percentage Of Accounts Receivables
PercentageOfAccountsReceivables
0.91 pure
CY2017Q2 rei Amortization Expense1
AmortizationExpense1
5136426 USD
rei Amortization Expense1
AmortizationExpense1
8610445 USD
CY2016Q2 rei Amortization Expense1
AmortizationExpense1
2579201 USD
rei Amortization Expense1
AmortizationExpense1
5973828 USD
CY2017Q2 us-gaap Depreciation
Depreciation
76773 USD
us-gaap Depreciation
Depreciation
149478 USD
CY2016Q2 us-gaap Depreciation
Depreciation
78878 USD
us-gaap Depreciation
Depreciation
157756 USD
rei Estimated Present Value Of Future Net Revenues From Proved Reserves Discounted At Interest Rate
EstimatedPresentValueOfFutureNetRevenuesFromProvedReservesDiscountedAtInterestRate
0.1 pure
CY2016Q2 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
25451988 USD
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
46864074 USD
us-gaap Debt Instrument Redemption Description
DebtInstrumentRedemptionDescription
The Borrowing Base will be redetermined semi-annually on each May 1 and November 1, beginning November 1, 2015.
rei Leverage Ratio Total
LeverageRatioTotal
4.0 to 1.0
rei Minimum Leverage Ratio Current
MinimumLeverageRatioCurrent
1.0 to 1.0
CY2016Q2 rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
507642 USD
rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
1091967 USD
rei Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercised
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercised
66400 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
55180 shares
rei Stock Option Exercised Shares Retained
StockOptionExercisedSharesRetained
11220 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.25
rei Stock Option Exercised Value Of Shares Retained
StockOptionExercisedValueOfSharesRetained
149285.00 USD
CY2017Q2 us-gaap Share Price
SharePrice
13.31
CY2017Q2 rei Depletion At Rate Per Barrel
DepletionAtRatePerBarrel
4.97
us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"><b><i>Use of Estimates</i></b> &#150; The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Changes in the future estimated oil and natural gas reserves or the estimated future cash flows attributable to the reserves that are utilized for impairment analysis could have a significant impact on the Company&#8217;s future results of operations.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"><b><i>Reclassifications &#150;</i></b> Certain reclassifications of amounts previously reported have been made to the accompanying financial statements to maintain consistency between periods presented. The reclassifications had no impact on net income (loss) or stockholders&#8217; equity.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

Files In Submission

Name View Source Status
0001144204-17-041208-index-headers.html Edgar Link pending
0001144204-17-041208-index.html Edgar Link pending
0001144204-17-041208.txt Edgar Link pending
0001144204-17-041208-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
rei-20170630.xml Edgar Link completed
rei-20170630.xsd Edgar Link pending
rei-20170630_cal.xml Edgar Link unprocessable
rei-20170630_def.xml Edgar Link unprocessable
rei-20170630_lab.xml Edgar Link unprocessable
rei-20170630_pre.xml Edgar Link unprocessable
report.css Edgar Link pending
Show.js Edgar Link pending
v472242_10q.htm Edgar Link pending
v472242_ex31-1.htm Edgar Link pending
v472242_ex31-2.htm Edgar Link pending
v472242_ex32-1.htm Edgar Link pending
v472242_ex32-2.htm Edgar Link pending