Past year: ▼ 21%(6.00c – 10.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
8 May 2009capital raising announcement● Neutral
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.
3 Aug 2006capital raising announcement● Neutral
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.
2 Aug 2006capital raising announcement▼ BadMajor
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.
1 Sept 2005capital raising announcement● NeutralMajor
In August 2005 the company sold 1,200,000 shares at $0.25 each to four investors, converted $326,000 loaned by President George Shaw into 1,304,000 restricted shares, and issued 1,250,000 shares to McCrome International in full payment of a $479,218 promissory note. These issuances increase the share count, diluting existing holders, while converting loans into stock removes those debts.
22 Sept 2004capital raising announcement● NeutralMajor
On September 20, 2004 the company signed an equity line of credit with Dutchess Private Equities Fund II allowing it to sell up to $10,000,000 of common stock over 36 months once a registration statement is declared effective. Each draw is limited (up to $1,000,000 per put under the agreement terms shown), priced at 95% of the lowest closing bid in a five-day pricing period, and the company is not obliged to draw. Any shares sold would dilute existing shareholders.
