19 June 2008director interest notice● Neutral
Armada Oil, Inc. SECRETARY/TREASURER/CFO Harmel S Rayat sold 583,333 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
19 June 2008director interest notice● Neutral
Armada Oil, Inc. SECRETARY/TREASURER/CFO Harmel S Rayat sold 583,333 shares.
18 Apr 2008capital raising announcement▲ GoodMajor
On April 17, 2008 International Energy completed a $2,400,000 private placement of 4,000,000 units at $0.60 to 10 accredited investors. Each unit was one share plus a two-year Series B warrant at $0.60. The proceeds are for working capital, and the company agreed to register the shares for resale. A broker dealer was paid 100,000 units as commission. This is the first equity raise in the filings, after the Rayat loans that funded the algae research.
What it means for a shareholder
4.0m new shares at $0.600 to raise about $2.4m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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11 Apr 2008debt financing● Neutral
On January 31, 2008 the company issued another unsecured demand note, $100,000 at 10.25% interest, to Harmel S. Rayat, for the same stated purposes as the October 2007 loan. This continues the company's funding from Rayat, and it also references a January 29, 2008 news release on a continuous growth and extraction process for separating bio-oils from microalgae.
22 Oct 2007debt financing● NeutralMajor
On October 16, 2007 the company issued a $300,000 unsecured demand note to Harmel S. Rayat at 10.75% interest, to fund research and development, salaries, legal and accounting fees, investor relations and working capital. The board also extended 6,880,000 warrants (from a $250,000 October 2001 financing, 2,200,000 held by Rayat family members) from October 17, 2007 to October 17, 2008. Rayat is the company's Secretary and Treasurer.
20 Sept 2007material agreement▲ GoodMajor
On September 17, 2007, International Energy, through its wholly owned subsidiary International Energy Corp., signed a research agreement with The Regents of the University of California in algal biochemistry and photosynthesis. The filing gives no cost or terms in its text; the agreement is attached as an exhibit.
29 June 2006late filing notice▼ Bad
Armada Oil, Inc. notified the SEC that its annual report would be filed late.
30 Mar 2006auditor change● Neutral
This amendment repeats the March 2006 auditor change (Ernst & Young out, Peterson Sullivan in) and attaches Ernst & Young's letter. Ernst & Young agreed with most statements but said it was appointed on June 30, 2005 and could not comment on board approval.
17 Mar 2006auditor change● Neutral
Effective March 13, 2006 International Energy dismissed Ernst & Young and engaged Peterson Sullivan, PLLC to audit the year ending March 31, 2006. Ernst & Young's report on the year ended March 31, 2005 included a going-concern uncertainty paragraph, and the filing reports no disagreements.
15 Aug 2005late filing notice▼ Bad
Armada Oil, Inc. notified the SEC that its quarterly report would be filed late.
6 July 2005auditor change● Neutral
Now named International Energy, Inc. (the name change announced in June 2005), the company reported that Moore Stephens merged into Ernst & Young LLP on May 5, 2005, so Ernst & Young became its auditor. Moore Stephens' report for the year ended March 31, 2004 carried a going-concern doubt, and Moore Stephens agreed with the filing except it could not confirm board approval.
30 June 2005late filing notice▼ Bad
Armada Oil, Inc. notified the SEC that its annual report would be filed late.
16 June 2005material agreement● NeutralMajor
On June 10, 2005 the board approved 10-year stock options over 2,000,000 shares (1,250,000 to Ranjit Bhogal and 750,000 to Jeet Sidhu) at $0.515, out of 5,000,000 shares reserved under the 2002 plan. The same day a news release announced a reorganization with two new wholly owned operating subsidiaries, a name change and a four-for-one forward split; the filing gives no further detail on these.
16 Jan 2004auditor change● Neutral
Effective January 12, 2004, e.Deal.net dismissed Clancy and Co., P.L.L.C. and appointed Moore Stephens Ellis Foster Ltd., LLP as auditor, with board approval. Clancy's reports for the years ended March 31, 2002 and 2003 included a going-concern uncertainty paragraph, there were no disagreements, and Clancy's letter agrees with the company's statements.
14 Aug 2002late filing notice▼ Bad
Armada Oil, Inc. notified the SEC that its quarterly report would be filed late.
14 Aug 2002auditor change● Neutral
This amendment repeats the August 2002 auditor-change report (Berenfeld dismissed, Clancy and Co. hired) and adds the exhibit 16 letter on the change of accountant that the original had left blank. No new substance beyond that.
8 Aug 2002auditor change● Neutral
The company, filing under the name e.Deal.net, Inc., dismissed its auditor Berenfeld, Spritzer, Shechter & Sheer effective July 30, 2002 and hired Clancy and Co., P.L.L.C. The board approved the change. Berenfeld's earlier report carried a going-concern uncertainty paragraph, and the filing reports no disagreements with it.
14 Feb 2002late filing notice▼ Bad
Armada Oil, Inc. notified the SEC that its quarterly report would be filed late.
6 Aug 2001securities registration● Neutral
Armada Oil, Inc. filed the final prospectus for a registered offering.
13 July 2001securities registration● Neutral
Armada Oil, Inc. amended a filing by which it registered a small-business securities offering with the SEC.
21 June 2001securities registration● Neutral
Armada Oil, Inc. amended a filing by which it registered a small-business securities offering with the SEC.
7 May 2001securities registration● Neutral
Armada Oil, Inc. amended a filing by which it registered a small-business securities offering with the SEC.
26 Mar 2001securities registration● Neutral
Armada Oil, Inc. amended a filing by which it registered a small-business securities offering with the SEC.
18 Dec 2000securities registration● Neutral
Armada Oil, Inc. registered a small-business securities offering with the SEC.