Past year: ▲ 0%(0.01c – 0.01c USD)
Each one in plain English, with the numbers worked through for a shareholder.
21 Apr 2005capital raising announcement● Neutral
This amendment only corrects typographical errors in the April 5, 2005 share table: TMP Companies' issuance changes from 17,910 to 35,820 shares ($716.40), and the total value of that table moves from $79,408.70 to $79,412.30. Nothing else in the original report changed.
7 Apr 2005capital raising announcement● NeutralMajor
On April 5, 2005 the company approved new common share issuances, including 3,000,000 to Bisultanov and the two David Christians under an agreement with DAC, 570,435 to settle a note owed to William Harlow, and smaller amounts to Baseline Capital-related holders under a tentative settlement. It also created a Sub-Series C-1 of Series C preferred and issued 150,000 shares each to six insiders and advisers in exchange for part of their rights tied to the Firecreek acquisition, with each person's remaining rights reduced by $150,000 and cancelled. The Baseline dispute now has tentative settlement terms, resolving the default-judgment thread in part, though the settlement is not final.
14 Feb 2005capital raising announcement▼ BadMajor
On February 9, 2005 the company approved 4,000,000 restricted common shares (valued at $96,000) to AntCamp Advisors under a new advisory agreement covering Firecreek's planned Russian oil and gas work with partner Sahara Group, plus 1,000,000 shares ($50,000) to Secretary Melvena Alexander in exchange for debt and accrued services. Baseline Capital reported it has obtained a default judgment against the company, with settlement talks continuing, and the company received a further $350,000 under its HEM Mutual Assurance convertible debt. This continues the Baseline dispute and shows it getting worse.
23 Dec 2004capital raising announcement● NeutralMajor
On December 18, 2004 the company signed a credit facility under which lender Randy Pack may advance up to $150,000 to Firecreek Petroleum at 8% interest, due 180 days after the note, for oil field costs in Russia and Romania. EGPI guarantees it, with Taylor and Faulder as secondary guarantors, and Pack receives 150,000 Series B preferred shares. The filing also says shareholders holding about 59% approved an S-8 registration for a 2005 Stock Incentive Plan, that Baseline Capital has asked for a default judgment while settlement talks continue, and that the company received another $150,000 under its convertible debt with HEM Mutual Assurance.
8 Nov 2004capital raising announcement● Neutral
The company approved issuing 175,000 restricted common shares to consultant Connie Tomlin for advisory services, valued at $14,875. This is a small issuance of new shares; it is also the first filing under the EGPI Firecreek name.
30 Sept 2004capital raising announcement▼ Bad
On September 26, 2004 the company approved issuing 1,350,000 restricted common shares in total to seven non-insiders, including Greig and Robert Wright, Peter Wojcik, Roger Edwardes, Larry Trapp, Tom Richards and John Brigandi (the filing gives no share count for Brigandi's row, the 1,350,000 is the sum of the stated rows plus his 150,000). The shares were for marine franchise operations, advisory work and loans/other services, with stated value of $108,000 for the group. This adds modest dilution.
16 Sept 2004capital raising announcement▼ BadMajor
This amendment lists who gets the shares for the Firecreek Petroleum purchase announced in June 2004: 14,000,000 restricted common shares and 2,566,831 Series A preferred (the filing corrects the earlier 2,565,831 figure as a typo), all held in escrow pending the Firecreek audit or board-confirmed progress. It also records July 1, 2004 board approvals, dated Aug 2, 2004, of bonus common shares (1,000,000 each to Taylor, Merritt, Faulder, Siller, Gregg Fryett and Dennis Alexander, 450,000 to Michael Norman), 9,500,000 new Series B preferred shares to officers, directors and others, and options on 2,000,000 shares each (1,000,000 for Barker) at $0.70 expiring 2/9/2009. Existing shareholders face further dilution from these issuances (inference from the share counts); the filing says $517,000 of value went to bonuses and advisory services.
16 July 2004asset acquisition disposition● NeutralMajor
On June 29, 2004 the company agreed to acquire all of Firecreek Petroleum, Inc., a private Delaware company with a Romanian subsidiary (Firecreek Petroleum Romania Srl), for 14,000,000 restricted common shares plus 2,565,831 new Series A preferred shares, with more securities specified in the agreement; closing was estimated for about July 31, 2004 and accounting effective July 1, 2004. Holders of about 60% of the roughly 43,391,668 shares outstanding consented on June 17, 2004. The board and officers were reshuffled (Dennis Alexander as Chairman and CFO, Gregg Fryett as CEO, John R. Taylor as President), a name change to EGPI\Firecreek, Inc. was approved but not yet filed, and the share consideration is held in escrow until Firecreek receives a signed MOU with Libya's National Oil Council. Firecreek plans to set up operations in Libya. Existing shareholders face dilution from the new shares (inference from the share counts).
29 Mar 2004auditor change● Neutral
The company named Donahue Associates, L.L.C. of Monmouth Beach, New Jersey as its new principal accountant on March 26, 2004, replacing Schiffer, and attached Schiffer's letter to the SEC. It repeated that its 2003 annual report and the IGH financial statements would probably be delayed. This continues the auditor change.
23 Mar 2004auditor change▼ BadMajor
The company's auditor, Henry Schiffer, C.P.A., resigned on March 19, 2004 after telling the company that the PCAOB had notified him the SEC would no longer accept his statements. The company was seeking a replacement and said its 2003 annual report (due March 30, 2004) would probably be late, and the IGH financial statements and amended information statement would also be delayed. The filing states there were no disagreements with the auditor.
17 Feb 2004asset acquisition disposition● Neutral
Second amendment to the IGH filing: the expected date for completing the share transfer moves from December 20, 2003 to February 20, 2004, with the terms (17,051,156 shares issued; 52.29%/47.71% split) unchanged. The company says IGH's UK accountants have finished their work and the required financial statements should follow within 15 days; the IGH deal remains uncompleted.
13 Jan 2004asset acquisition disposition▼ BadMajor
On December 24, 2003 the company sold all its interests in oil leases in Young County, Texas (ten wells, nine producing, 87.5% working interest) to Summitt Oil and Gas, Inc. in exchange for Summitt assuming about $812,488 of debts tied to the property. Separately, it said a December 15, 2003 stock purchase agreement under which Camden Holdings, Inc. was to provide $3,000,000 of financing was null and void because Camden was in material default (it was due to provide $50,000 at the December 24 closing).
16 Dec 2003asset acquisition disposition● NeutralMajor
This amends the IGH deal: a revised exchange agreement dated December 12, 2003, with share transfer expected by December 20, 2003 and the effective date backdated to December 1, 2003 once required shareholder steps are done. The company will issue 17,051,156 restricted shares for IGH; existing holders would own about 18,687,812 shares (52.29%) and IGH holders 17,051,156 (47.71%), so the split moved slightly in existing holders' favour versus the first filing. Financial statements are still to come.
5 Dec 2003business combination● NeutralMajor
Effective December 1, 2003 the company agreed to acquire 100% of International Group Holdings Inc. (IGH) and its subsidiary International Yacht Sales Group, Ltd. (England and Wales) for one restricted company share per IGH share, subject to stockholder approval. Existing shareholders would hold about 17,357,352 shares (49.69%) and IGH holders 17,576,071 shares (50.31%) of the combined company, though the filing says IGH holders are expected to end up the minority. This is a move into yacht sales, separate from the oil-property deals previously discussed.
9 Sept 2003capital raising announcement● NeutralMajor
On August 20, 2003 the company hired LSC Associates, LLC to help raise $1 million through a private placement (targeted for end of September), then roughly $5 million or more by debt placement (targeted for October/November 2003). It also signed a July 30, 2003 letter of intent to buy Montage Industries, Inc. (extended on August 25 for at least 30 days), and got the Comanche Point option extended to September 15, 2003. These continue the earlier Comanche Point deal and funding plan; none is completed.
17 July 2003capital raising announcement● NeutralMajor
Energy Producers, Inc. (the company's name at the time) extended its letter of intent and first right of refusal to buy Comanche Point Production Company, a Kern County, California oil producer, through August 15, 2003. It expects to pay US$350,000 plus 20,000 restricted shares for a 100% working interest (87.5% net revenue interest) in 17 wells (16 producing) and two leases of about 425 acres; the deal still needs due diligence, financing and a definitive agreement. The company also said it planned a private placement to be completed in about 30 days, and that it was in talks with two firms about further funding of $5-10 million.
