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AWX > SEC Filings for AWX > Form 8-K on 15-Dec-2011All Recent SEC Filings

Show all filings for AVALON HOLDINGS CORP



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ITEM 8.01 Other Events

On December 14, 2011, Avalon Holdings Corporation and its wholly owned subsidiary, Avalon lakes Golf, Inc. (together "Avalon") received executed lease agreements and initial one-time bonus payments of approximately $.4 million from an energy company for leasing approximately 200 acres of land for the purpose of drilling for oil and gas. Avalon will recognize the initial bonus payments as other income in the fourth quarter of 2011. The lease agreements also provide Avalon with the potential to receive royalty payments in the future. At this time, these royalty payments are not determinable.

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