4 Nov 2014securities registration● Neutral
Dominovas Energy Corp registered a securities offering with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Oct 2014director interest notice● Neutral
De Jesus Emilio became a Dominovas Energy Corp director and company insider (initial ownership filing).
21 Oct 2014material agreement▼ BadMajor
On Oct 17, 2014 the company signed an agreement with Kodiak Capital Group under which Kodiak agreed to buy up to $3,000,000 of newly issued shares, once a Form S-1 registration statement is effective. The company chooses when to sell, at 80% of the lowest closing bid in the five days after each sale notice, until Dec 31, 2015 or $3,000,000 is reached. Kodiak also received a $165,000 convertible note (12-month term, 12% coupon, convertible at a 50% discount to the lowest closing bid over the prior 30 days), so shares will be issued at a discount - dilution for existing holders. This is a new funding source after the July 2014 registration filings.
28 July 2014securities registration● Neutral
Dominovas Energy Corp registered a securities offering with the SEC.
21 July 2014securities registration● Neutral
Dominovas Energy Corp filed notice of an exempt private placement.
15 July 2014quarterly activities report▼ Bad
Dominovas Energy Corp reported a quarterly net loss of $326 thousand for the period ended 2014-05-31.
9 July 2014quarterly activities report▼ Bad
Dominovas Energy Corp reported a quarterly net loss of $326 thousand for the period ended 2014-05-31.
24 June 2014business combination● Neutral
This is Amendment No. 2 to the Feb 2014 Dominovas Energy acquisition report. It moves the company's address to 1395 Chattahoochee Ave., Atlanta, GA and says the Atlanta plant of about 20,000 sq ft was leased in May 2014. It also states the company will not account for the deal as a reverse merger, because Western Standard (including its Pro Eco Energy stake) had greater asset value than Dominovas Energy before the transaction.
2 June 2014business combination● Neutral
This is Amendment No. 1 to the Feb 2014 report on the Dominovas Energy acquisition, now filed under the name Dominovas Energy Corporation. It repeats the deal terms (45,000,000 shares for 100% of the LLC, 50% of the stock after closing) and business description, with small edits such as the Angola 10MW contract timing changed from April 2014 to 2014 and the employment agreement dates. The excerpt shows no new deal terms.
13 May 2014director interest notice● Neutral
Darren Lee Jacklin became a Dominovas Energy Corp director and company insider (initial ownership filing).
11 Apr 2014quarterly activities report▼ Bad
Dominovas Energy Corp reported a quarterly net loss of $326 thousand for the period ended 2014-05-31.
9 Apr 2014director interest notice● Neutral
Dominovas Energy Corp Treasurer Gray Walter Dallas disposed of 14,750,000 shares via option/appreciation-right settlement.
4 Mar 2014director interest notice● Neutral
Allen Neal became a Dominovas Energy Corp Chairman, CEO and President and company insider (initial ownership filing).
28 Feb 2014director interest notice● Neutral
Michael Robinson Watkins became a Dominovas Energy Corp Chief Operating Officer and company insider (initial ownership filing).
28 Feb 2014business combination● NeutralMajor
On Feb 20, 2014 the company acquired Dominovas Energy, LLC, a fuel cell company founded in 2012, for 45,000,000 new shares, which is 50% of the stock after closing. This moves the company from an oil and gas shell to a fuel cell business (RUBICON solid oxide fuel cell systems) targeting Guinea, Angola and the Dominican Republic, and existing holders are diluted to half. Neal Allen replaces Dallas Gray as CEO, Spero Plavoukos joins the board, and Michael Watkins becomes COO. Three-year employment deals were set at $177,000 (Allen) and $104,000 (Watkins). The company said it will change its name to Dominovas Energy Corporation and says it owns 49.25% of Pro Eco Energy Ltd.
28 Feb 2014director interest notice● Neutral
Plavoukos Spero became a Dominovas Energy Corp director and company insider (initial ownership filing).
6 Dec 2013capital raising announcement▼ Bad
Effective Dec 4, 2013 the company issued 2,250,000 shares at a deemed $0.001 each to two directors (2,000,000 to Dallas Gray, 250,000 to Darren Jacklin), plus 2,000,000 shares at about $0.001 to two consultants. This dilutes other shareholders and adds Darren Jacklin as a named director.
3 Dec 2013material agreement● Neutral
On Dec 2, 2013 the company bought Enertopia Corp.'s 8.25% stake (900,000 shares) in Pro Eco Energy Ltd. for cash payments totalling $40,000. Together with the Nov 28 purchase of 41%, this builds its holding in the Summerland, BC heating and cooling business; the filing does not state the combined percentage.
3 Dec 2013capital raising announcement● NeutralMajor
On Nov 28, 2013 the company bought the 41% (4,500,100 shares) of Pro Eco Energy Ltd. held by C.A.B Financial Services Ltd. and Chris Bunka, paying with 4,000,000 new company shares. Pro Eco Energy is a group of two private British Columbia firms (Summerland) that install energy-efficient heating and cooling systems for commercial buildings. This is a move into a non-oil-and-gas business and dilutes existing shareholders by the 4,000,000 shares, issued to two non-U.S. holders.
29 Nov 2013late filing notice▼ Bad
Dominovas Energy Corp notified the SEC that its annual report would be filed late.
25 Nov 2013quarterly activities report▼ Bad
Dominovas Energy Corp reported a quarterly net loss of $56 thousand for the period ended 2013-11-30.
3 June 2013material agreement▼ BadMajor
On May 22, 2013 the company replaced its earlier US$250,000 convertible debenture (issued to BRL Consulting Inc. and Gladys Jenks, the lenders behind the 2009 demand loan) with a new CDN$140,000 convertible debenture. The old one matured April 1, 2013 and the holders chose not to convert. The new one matures May 15, 2014, carries no interest, and converts on a default into shares equal to 50% of the company's outstanding stock. The filing also says the company agreed to issue 2,500,000 shares for US$3,125 under an October 2012 agreement with the same two purchasers.
10 Apr 2013quarterly activities report▼ Bad
Dominovas Energy Corp reported a quarterly net loss of $146 thousand for the period ended 2013-05-31.
16 Jan 2013quarterly activities report▼ Bad
Dominovas Energy Corp reported a quarterly net loss of $77 thousand for the period ended 2013-02-28.
15 Jan 2013late filing notice▼ Bad
Dominovas Energy Corp notified the SEC that its quarterly report would be filed late.
23 Nov 2012capital raising announcement▼ BadMajor
On November 9, 2012 the company closed a private placement of 33,269,857 shares to 18 investors at $0.00125 per share, raising $41,587.32. Of these, 15,000,000 shares went to Dallas Gray for $18,750, giving him 44.8% of the stock and a change in control; he is a new director. The filing says the company currently has no oil or gas projects or assets, and that it will look for opportunities in the sector. So the Montana and North Dakota interests described in 2007-2008 are no longer held, though this excerpt does not say how they ended. It lists a Kelowna, BC address and a wholly owned subsidiary, Western Standard Energy Limited. It also records the history: name change to Western Standard Energy Corp. on September 7, 2007, a 1.5-for-1 split that day, and a 1-for-1,000 reverse split on February 3, 2010.
What it means for a shareholder
33.3m new shares at $0.0013 to raise about $41,587. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
16 Nov 2012substantial holder notice● Neutral
Walter Dallas James Gray disclosed a new substantial Dominovas Energy Corp shareholding (44.80% of votes).
15 Nov 2012director interest notice● Neutral
Dominovas Energy Corp President, Treasurer, Secretar Gray Walter Dallas bought 15,000,000 shares on the open market at $0.00.
6 Nov 2012director interest notice● Neutral
Gray Walter Dallas became a Dominovas Energy Corp President Treasurer Secretary and company insider (initial ownership filing).
16 July 2012quarterly activities report▼ Bad
Dominovas Energy Corp reported a quarterly net loss of $5 thousand for the period ended 2012-05-31.