28 Sept 2009listing compliance notice▼ BadMajor
BALD EAGLE ENERGY INC. deregistered its securities, ending its obligation to file reports with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
28 Sept 2009securities registration● Neutral
BALD EAGLE ENERGY INC. amended an already-effective registration statement.
14 Aug 2009late filing notice▼ Bad
BALD EAGLE ENERGY INC. notified the SEC that its quarterly report would be filed late.
13 May 2009late filing notice▼ Bad
BALD EAGLE ENERGY INC. notified the SEC that its quarterly report would be filed late.
13 Feb 2009late filing notice▼ Bad
BALD EAGLE ENERGY INC. notified the SEC that its quarterly report would be filed late.
29 Dec 2008late filing notice▼ Bad
BALD EAGLE ENERGY INC. notified the SEC that its annual report would be filed late.
4 Dec 2008capital raising announcement▼ Bad
The company reports two more private placements to one non-US investor each: 280,000 units at $0.25 on November 12, 2008 for $70,000 (warrants at $0.45 to November 12, 2011), and 466,667 units at $0.15 on December 3, 2008 for about $70,000 (warrants at $0.30 to December 3, 2011). Each unit is one share plus one warrant. This continues the series of small placements, at prices well below the $0.50 to $0.70 charged earlier in 2008, so new shares are issued at lower prices and more warrants are outstanding.
What it means for a shareholder
280,000 new shares at $0.250 to raise about $70,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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13 Nov 2008asset acquisition disposition▲ GoodMajor
On November 7, 2008 the company closed the purchase of the six Alaska North Slope leases (18,418 acres) from Daniel Donkel and Samuel Cade, saying the full $621,607.50 price has been paid. It now holds 100% of the working interest (78.33% net revenue interest), with the sellers keeping a 5% overriding royalty on top of the State of Alaska's 16.67%; this resolves the open thread on completing the lease payments and assignment. The filing says the company was a shell company before closing and that this changes that status; it repeats that it plans to be a non-operator seeking joint ventures, and the lease primary term runs to January 31, 2012.
30 Sept 2008capital raising announcement▲ Good
The company raised $100,000 on September 29, 2008 by selling 200,000 units at $0.50 to one non-US investor, each with one share and one warrant at $0.75 expiring September 29, 2011. The filing also shows a new address in The Woodlands, Texas. The price per unit is lower than the $0.70 charged in July and August.
What it means for a shareholder
200,000 new shares at $0.500 to raise about $100,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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15 Aug 2008capital raising announcement▲ Good
The company raised $80,500 on August 12, 2008 by selling 115,000 units at $0.70 to one non-US investor, each with one share and one warrant at $1.00 expiring August 12, 2011. Another small placement in the ongoing series.
What it means for a shareholder
115,000 new shares at $0.700 to raise about $80,500. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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14 Aug 2008late filing notice▼ Bad
BALD EAGLE ENERGY INC. notified the SEC that its quarterly report would be filed late.
6 Aug 2008capital raising announcement▲ Good
Now named Bald Eagle Energy Inc., the company raised $301,000 on July 31, 2008 by selling 430,000 units at $0.70 to one non-US investor. Each unit has one share and one warrant at $1.00 expiring July 31, 2011. The filing shows the new name but does not itself describe the name change.
What it means for a shareholder
430,000 new shares at $0.700 to raise about $301,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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10 June 2008capital raising announcement▲ Good
The company raised $150,000 on June 4, 2008 by selling 300,000 units at $0.50 to one non-US investor, each unit with one share and one warrant at $0.70 expiring June 3, 2011. The filing also shows a new principal office in Dallas, Texas, replacing the Blaine, Washington address.
What it means for a shareholder
300,000 new shares at $0.500 to raise about $150,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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28 May 2008capital raising announcement▲ Good
The company raised $250,000 on May 22, 2008 by selling 500,000 units at $0.50 to one non-US investor. Each unit has one share and one warrant to buy another share at $0.70 until May 21, 2011. This continues the series of small private placements; the unit price is lower than the $1.00 charged in April.
What it means for a shareholder
500,000 new shares at $0.500 to raise about $250,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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16 May 2008late filing notice▼ Bad
BALD EAGLE ENERGY INC. notified the SEC that its quarterly report would be filed late.
25 Apr 2008debt financing● Neutral
The company formalised a $59,935 loan from its sole officer and director, Alvaro Vollmers, covering money he had already advanced. It bears 8% interest and is to be repaid with $20,000 on signing, $7,000 monthly from May 25 to September 25, 2008, and the balance by October 25, 2008. This is a debt owed to an insider, and its repayment schedule overlaps with the lease installment payments.
24 Apr 2008material agreement● NeutralMajor
On April 18, 2008 the company agreed to buy six oil and gas leases on Alaska's North Slope (18,418 acres in total) from Daniel Donkel and Samuel Cade for $621,607.50, paid in installments through August 29, 2008, with $125,000 already paid. Once fully paid the company gets 100% of the record title, and the sellers keep a 5% overriding royalty. Missing a payment lets the sellers accelerate the balance or terminate and keep the leases and $125,000 as liquidated damages. The company let its British Columbia mineral claims lapse and now says it is changing its focus to oil and gas as a non-operator, seeking joint ventures with companies that have drilling expertise.
22 Apr 2008director interest notice● Neutral
John Graham Rhoden became a BALD EAGLE ENERGY INC. 10%+ owner and company insider (initial ownership filing).
21 Apr 2008capital raising announcement▲ Good
The company sold 150,000 units at $1.00 each to one non-US investor for $150,000 on April 15, 2008. Each unit has one share and one warrant to buy another share at $1.40 until April 14, 2011. This is new money coming in after the March change of control, and it means new shares and potential future dilution if the warrants are used.
What it means for a shareholder
150,000 new shares at $1.00 to raise about $150,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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9 Apr 2008director interest notice● Neutral
BALD EAGLE ENERGY INC. insider Lubow Klauser disposed of 25,000,000 shares via option/appreciation-right settlement.
3 Apr 2008director interest notice● Neutral
BALD EAGLE ENERGY INC. Pres/Sec/Treas/CEO/CFO Alvaro Vollmers bought 2,000,000 shares on the open market at $0.01.
26 Mar 2008material agreement● NeutralMajor
The company signed a Share Cancellation Agreement with Lubow Klauser under which she will surrender 15,000,000 shares for cancellation in exchange for $1.00, with closing expected March 31, 2008. This is the cancellation step described in the control-change statement, and it reduces the number of shares outstanding.
25 Mar 2008director interest notice● Neutral
Alvaro Vollmers became a BALD EAGLE ENERGY INC. Pres/Sec/Treas/CEO/CFO and company insider (initial ownership filing).
21 Mar 2008business combination● NeutralMajor
The company told shareholders of a coming change in control: on March 20, 2008, Lubow Klauser agreed to sell 2,000,000 shares to Alvaro Vollmers (for $2,000) and 8,000,000 shares to John Graham Roden (for $8,000), and to surrender 15,000,000 shares for cancellation. Vollmers is expected to replace her as sole director when the deal closes, expected on or about March 31, 2008. Of 32,517,150 shares outstanding, 17,517,150 would remain after the cancellation. No shareholder vote or action is required.
15 Feb 2008late filing notice▼ Bad
BALD EAGLE ENERGY INC. notified the SEC that its quarterly report would be filed late.
27 Dec 2007late filing notice▼ Bad
BALD EAGLE ENERGY INC. notified the SEC that its annual report would be filed late.
23 Nov 2007auditor change● Neutral
A second amendment to the auditor-change report that expands the disclosure: it confirms no disagreements with the former auditor through the date of resignation, re-states the LBB appointment, and says the company did not consult LBB on the matters listed in the rule before hiring it. It adds no new events.
31 Oct 2007auditor change● Neutral
The board appointed LBB & Associates Ltd., LLP as the new independent auditor on October 29, 2007, replacing Telford Sadovnick. This resolves the auditor vacancy opened by the resignation.
26 Oct 2007auditor change● Neutral
An amendment to the October 24 auditor-resignation report that attaches the former auditor's letter to the SEC, which the company says it has received. The amendment does not state what the letter says and adds no other new facts.
24 Oct 2007auditor change● Neutral
The company (then named Columbus Ventures Inc.) disclosed that its auditor, Telford Sadovnick, resigned because it had withdrawn its registration with the US audit oversight board (PCAOB) and can no longer audit US companies. The filing says there were no disagreements, and the board is looking for a new auditor. The auditor's earlier report on the period from October 12, 2005 to September 30, 2006 carried a going-concern uncertainty statement.