Item 8.01 Other Events.

As of the close of business on January 7, 2020, Camber Energy, Inc. (the "Company", "we" and "us"), had 5,000,000 shares of common stock issued and outstanding. As a result of the decrease in authorized shares of common stock of the Company which was affected in connection with the October 29, 2019 reverse stock split (which decreased the Company's total authorized common stock in the same ratio as the reverse split of our outstanding common stock, to 5 million shares), as of January 7, 2020, the Company has no shares of common stock available for future issuances and the number of outstanding shares of common stock will be fixed, until such time in the future as the Company requests, and receives, shareholder approval for an increase in the total number of authorized shares of common stock.

The increase in our outstanding shares of common stock from the date of the Company's October 29, 2019, 1-for-50 reverse stock split (after which the Company had approximately 1.5 million shares of common stock issued and outstanding), is due to conversions of shares of Series C Preferred Stock of the Company into common stock, and conversion premiums due thereon, which are payable in shares of common stock, pursuant to the designation of such Series C Preferred Stock, at a current conversion price of $0.001 per share. The conversions are in the sole discretion of the Series C Preferred Stock holders. Notwithstanding the fact that we currently have no authorized but unissued shares of common stock available in order to issue additional shares of common stock upon conversion of the Series C Preferred Stock, we calculate that the holders of Series C Preferred Stock are still due a significant number of shares of common stock upon conversion of the 2,294 currently outstanding shares of Series C Preferred Stock (when including conversion premiums thereon), which will be issuable, upon conversion of the Series C Preferred Stock, when and if we increase our authorized but unissued shares of common stock in the future.

The fact that we have no shares of common stock available for future issuances may affect our ability to undertake transactions which may be accretive to shareholder value. Until such time as our authorized shares of common stock are increased (which will require shareholder approval at an annual or special meeting of shareholders), we will not be able to issue any shares of common stock upon the conversion of outstanding preferred stock and we will not be able to use our common stock as consideration for any acquisitions or combination transactions. Furthermore, we may not be able to sell equity or convertible debt to raise funding, or issue share based compensation to officers, directors, employees or consultants.

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