Past year: ▼ 50%(0.20c – 0.90c USD)
Each one in plain English, with the numbers worked through for a shareholder.
14 Mar 2011material agreement▲ GoodMajor
An operating agreement for the offshore Israel licence 388 "Samuel" was fully executed on March 8, 2011. GeoGlobal holds a 30% participating interest; Adira Geo Global Ltd. is operator with 30%, and the others are Adira Oil Technologies (23.25%), Brownstone Venture (6.75%) and Pinetree Capital (10%). This adds a third Israeli licence to the Myra and Sara interests.
10 Feb 2011substantial holder notice● Neutral
OppenheimerFunds, Inc. disclosed a new substantial GEOGLOBAL RESOURCES INC. shareholding (8.46% of votes).
28 Jan 2011material agreement● Neutral
The company signed an employment agreement, effective Jan 1, 2011, with Paul Miller, President and CEO, at US$275,000 a year plus benefits and a bonus plan to be developed. If terminated without cause he gets a lump sum of 10 months' salary (rising to 12) plus 30% of that amount, and a 12-month non-compete applies. This formalises the leadership of Miller, who has signed the company's recent filings in place of founder Jean Paul Roy.
19 Jan 2011substantial holder notice● Neutral
Goodman & and 1 other disclosed a new substantial GEOGLOBAL RESOURCES INC. shareholding (7.34% of votes).
23 Nov 2010material agreement● Neutral
The company signed employment agreements, effective Aug 17, 2010, with Sunil Karkera, now CFO (US$155,000 a year), and Allan J. Kent, now Vice President of Finance (US$220,000 a year plus a US$5,000 signing bonus). Severance if terminated without cause is a lump sum of 6 months' salary for Karkera (rising to 12) and 18 months for Kent (rising to 24), plus 30% of that amount. This shows Kent has moved from CFO to Vice President of Finance and Karkera is now CFO.
15 Nov 2010material agreement▲ GoodMajor
Joint operating agreements for two offshore Israel deepwater licences, 347 "Myra" and 348 "Sara", were fully executed on Nov 8, 2010, and the company paid US$1.2 million, completing the interest purchase announced in June 2010. The company is operator, but the other parties have options to remove it as operator and repurchase portions of its interest in certain circumstances. This is the company's entry into Israel alongside its India blocks. The filing does not state its percentage interest.
1 Nov 2010material agreement● Neutral
The company signed a Financial Services Agreement with D.I. Investments Limited, controlled by Allan Kent, its Vice President of Finance, to document an oral arrangement covering Aug 29, 2003 to Aug 17, 2010, with ongoing confidentiality and non-competition terms. Kent was previously CFO, and this is a related-party arrangement. The filing gives no payment amounts.
18 Oct 2010material agreement● NeutralMajor
The company agreed to sell 2,941,177 units at US$0.85 each (about US$2.5 million) to one institutional investor in a registered direct offering, each unit with one share and two half-share warrants (one callable, one non-callable) exercisable at US$1.00 from April 11, 2011 for five years from issuance. Full warrant exercise would add about US$2.9 million. Rodman & Renshaw was placement agent, and the offering closed per an Oct 18, 2010 press release. This adds new shares and warrants, diluting existing holders. The press release describes the company's activities as in India, Israel and Colombia and repeats the GSPC KG Offshore dispute risk.
14 Oct 2010securities registration● Neutral
GEOGLOBAL RESOURCES INC. filed a prospectus supplement for an offering off its existing shelf.
7 Oct 2010securities registration● Neutral
GEOGLOBAL RESOURCES INC. filed the final prospectus for a registered offering.
8 July 2010securities registration● Neutral
GEOGLOBAL RESOURCES INC. registered a securities offering with the SEC using its shelf eligibility.
26 Jan 2010substantial holder notice● Neutral
Goodman & and 1 other disclosed a new substantial GEOGLOBAL RESOURCES INC. shareholding (8.32% of votes).
9 Nov 2009late filing notice▼ Bad
GEOGLOBAL RESOURCES INC. amended its notice to the SEC that its quarterly report would be filed late.
9 Nov 2009late filing notice▼ Bad
GEOGLOBAL RESOURCES INC. notified the SEC that its quarterly report would be filed late.
29 May 2009material agreement● Neutral
The company extended the expiry of its outstanding warrants to buy 4,966,200 shares, plus the related compensation options and their warrants, from June 20, 2009 to June 20, 2011. The 2005 compensation units (US$6.50) cover 195,144 shares and 97,572 warrants; the 2007 compensation units (US$5.00) cover 340,800 shares. This is a second extension of the same instruments (earlier extended to June 2009), and it keeps potential dilution outstanding for two more years. The filing says the amendment took effect May 26, 2008, though the report date is May 26, 2009, so the year is inconsistent in the text.
17 Mar 2009late filing notice▼ Bad
GEOGLOBAL RESOURCES INC. notified the SEC that its annual report would be filed late.
22 Jan 2009substantial holder notice● Neutral
Goodman & and 1 other disclosed a new substantial GEOGLOBAL RESOURCES INC. shareholding (8.13% of votes).
27 May 2008listing compliance notice▼ BadMajor
The company also missed the May 12, 2008 deadline for its March 2008 quarterly report, and Amex sent a second notice that this is a listing-agreement breach. The company says no new compliance plan is needed because Amex accepted its plan on April 30, 2008, and it intends to file the 2007 annual report by June 2, 2008, then the quarterly report, to be compliant by July 1, 2008. Preliminary unaudited first-quarter figures: net loss of about US$700,000 (US$0.01 per share), current assets about US$44.7 million. This continues the restatement and listing-compliance problem; the annual report was still unfiled.
12 May 2008late filing notice▼ Bad
GEOGLOBAL RESOURCES INC. notified the SEC that its quarterly report would be filed late.
11 Apr 2008substantial holder notice● Neutral
Goodman & and 1 other reported a GEOGLOBAL RESOURCES INC. shareholding of 3,818,900 shares (6.96% of votes) in a periodic institutional filing.
4 Apr 2008listing compliance notice▼ BadMajor
The company said it would not file its 2007 annual report on time because it must restate earlier financials: errors in how it accounted for stock-based pay to non-employee consultants mean its three 2007 quarterly reports (through Sept 30, 2007), the three years to Dec 31, 2006 and the quarters within them should no longer be relied on. The American Stock Exchange warned that the late filing breaches its listing agreement and could lead to suspension or removal; the company must submit a compliance plan by April 16, 2008 and regain compliance by July 1, 2008. Unaudited 2007 estimates: net loss of US$1.31 million (US$0.02 per share). This follows the March 2008 late-filing notice and the earlier Sept 2006 quarter restatement for a stock-compensation error.
17 Mar 2008late filing notice▼ Bad
GEOGLOBAL RESOURCES INC. notified the SEC that its annual report would be filed late.
1 Feb 2008auditor change● Neutral
The company hired KPMG LLP on January 30, 2008 as its auditor for the year ended December 31, 2007, replacing Ernst & Young, which resigned in December 2007. The company says it had not consulted KPMG on accounting or auditing issues beforehand.
17 Jan 2008substantial holder notice● Neutral
Goodman & and 1 other disclosed a new substantial GEOGLOBAL RESOURCES INC. shareholding (7.06% of votes).
14 Jan 2008material agreement● NeutralMajor
The company assigned to GSPC its rights to a 30% interest in two Egyptian exploration blocks (won with GSPC and Alkor Petroo under a July 2006 bid agreement) in exchange for an option to reacquire them by April 30, 2008. It has already given non-refundable bank guarantees of US$1.17 million and carries about US$2.4 million of related assets; taking the full 30% would need about US$56.4 million more in guarantees.
11 Jan 2008securities registration● Neutral
GEOGLOBAL RESOURCES INC. filed a prospectus supplement covering resales by selling shareholders.
20 Dec 2007auditor change▼ BadMajor
Ernst & Young, the company's auditor since 2004, resigned effective December 12, 2007. The company says E&Y's reports for the two years ended December 31, 2006 had no adverse opinion and there were no disagreements. No reason for the resignation is given in the filing.
19 Dec 2007securities registration● Neutral
GEOGLOBAL RESOURCES INC. filed a prospectus supplement covering resales by selling shareholders.
18 Dec 2007securities registration● Neutral
GEOGLOBAL RESOURCES INC. filed a prospectus supplement covering resales by selling shareholders.
5 Dec 2007securities registration● Neutral
GEOGLOBAL RESOURCES INC. filed a prospectus supplement covering resales by selling shareholders.
