Each one in plain English, with the numbers worked through for a shareholder.
18 Jan 2017asset acquisition disposition● NeutralMajor
Reported in January 2017, the company acquired Energy and Environmental Services, Inc. (EES) on October 24, 2016 for 32,000,000 newly issued shares, leaving 47,994,944 shares outstanding, so the new shares are about two-thirds of the total (calculated from the filing's figures). It renamed itself Energy and Environmental Services, Inc., changed its trading symbol to EESE, and shows a new Oklahoma City address and a different president, Melvin B. Smith. The filing does not mention the earlier oil and gas assets; the former name given is Enerlabs, Inc.
On August 12, 2009 the company engaged Smith, Carney & Co., p.c. as its new auditor, replacing Eide Bailly, which resigned in July. The filing says no accounting advice was sought from the firm beforehand.
Eide Bailly resigned as auditor on July 15, 2009, less than a year after being engaged. Its report for the year ended January 31, 2009 carried a going-concern uncertainty qualification; no disagreements are reported and no reason for resigning is given.
This amendment corrects the earlier report: the shares issued to George Shaw for Energas Pipeline Company and Energas Corp. were 6,167,400 (not 6,197,400), issued January 31, 2009. The 200,000-share debt settlement ($11,992) and 220,000 consultant shares are unchanged.
27 Feb 2009capital raising announcement● NeutralMajor
The company issued 6,197,400 shares to President George Shaw in exchange for all shares of Energas Pipeline Company and Energas Corp., which operate the gas gathering system connected to its four Atoka County, Oklahoma wells and all of the company's wells. It also issued 200,000 shares to settle $11,992 owed and 220,000 shares to five consultants for services. These issuances dilute existing holders and bring the operating companies into the group.
Auditor Murrell, Hall, McIntosh & Co. resigned August 1, 2008 after Eide Bailly acquired its operations, and the company engaged Eide Bailly on September 9, 2008. MHM's reports for fiscal years ended January 2008 and 2007 carried a going-concern uncertainty qualification; no disagreements are reported.
14 Feb 2008asset acquisition disposition● NeutralMajor
On January 17, 2008 the company sold its Laurel and Whitley Counties, Kentucky properties to an unrelated third party: ten producing gas wells, leases on 2,828 gross acres, gas transmission lines, gathering systems and a compressor station. No price is stated in the filing. It is unclear from the text whether these relate to the 2003 Kentucky purchase (inference only).
This amendment repeats the previous filing's content, correcting the loan date to July 27, 2006: a $550,000 loan from Dutchess Private Equities Fund with 800,000 shares to be issued as partial consideration. It adds no new terms and notes the loan note exhibit was filed with the August 2, 2006 report.
The company borrowed $550,000 from Dutchess Private Equities Fund and agreed to issue 800,000 shares to Dutchess as partial consideration for the loan, adding dilution on top of the debt. The filing's text mistakenly dates the loan July 27, 2000 (the report date is July 27, 2006; corrected in the amendment). Dutchess is the same party as the 2004 equity line of credit.
