Ring Energy, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
Sep. 30, 2020
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	NOTE 10 – STOCKHOLDERS’ EQUITY Cancellation of shares issued as consideration in property acquisition – In April 2019, the Company completed the acquisition of assets from Wishbone Partners, LLC as disclosed in Note 5. As a part of the consideration for the Acquisition, the Company issued 4,581,001 shares of common stock. As a part of the final settlement, Wishbone Partners, LLC returned 16,702 shares of stock. These shares were subsequently cancelled by the Company. The shares were valued at February 25, 2019, the date of the signing of the Purchase and Sale Agreement. The price on February 25, 2019 was $6.19 per share. The aggregate value of the shares returned, based on this price, was $103,385.

STOCKHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2020

NOTE 10 – STOCKHOLDERS’ EQUITY

Cancellation of shares issued as consideration in property acquisition – In April 2019, the Company completed the acquisition of assets from Wishbone Partners, LLC as disclosed in Note 5. As a part of the consideration for the Acquisition, the Company issued 4,581,001 shares of common stock. As a part of the final settlement, Wishbone Partners, LLC returned 16,702 shares of stock. These shares were subsequently cancelled by the Company. The shares were valued at February 25, 2019, the date of the signing of the Purchase and Sale Agreement. The price on February 25, 2019 was $6.19 per share. The aggregate value of the shares returned, based on this price, was $103,385.