|About: Yuma Energy, Inc. (YUMA)|By: Gaurav Batavia, SA News Editor
Yuma Energy (NYSEMKT:YUMA) has filed for Chapter 11 petitions for relief under the United States Bankruptcy Code.
During Q1, the company’s cash position deteriorated, and its cash flow from operations is no longer sufficient to cover its operating costs.
The Company plans to continue to operate its business in the normal course during the court-supervised bankruptcy process.
The Debtors intend to use the Chapter 11 process to implement the orderly liquidation of their assets in an effort to maximize values and recoveries to stakeholders.