Past year: ▼ 67%(0.01c – 0.03c USD)
Each one in plain English, with the numbers worked through for a shareholder.
4 Apr 2023capital raising announcement● Neutral
On April 4, 2023 CEO Vikram Grover converted $30,000 of accrued compensation into 30,000 Series B Preferred shares. After this and the processing of the cancellation of 99,686 Series B Preferred shares previously issued to The Agrarian Group, LLC, 476,280 Series B Preferred shares are outstanding. The company address is now Pittsburgh, PA.
28 Oct 2015capital raising announcement▼ BadMajor
From September 21 to October 22, 2015 the company issued 34,929,106 shares as KBM, LG Capital and Typenex converted notes at falling prices. It says KBM and Vis Vires have alleged default because authorized shares are insufficient, and would waive penalties if balances are paid by October 30, 2015, which the company says it is unlikely to manage. It also says it needs financing to file its July 31, 2015 annual report, the TSS deal is unlikely before the debt is resolved, and oil revenues have fallen. This is the dilution risk flagged earlier, now playing out.
30 June 2015capital raising announcement● Neutral
On June 25, 2015 the company issued 1,500,000 shares on exercise of warrants (likely from the March 2015 units; an inference) and sold 500,000 units at CAD $0.06 for $30,000, each with a warrant at CAD $0.10 until June 25, 2016. Finder's fees of $4,500 and $3,000 were paid. Small amounts of new equity were raised, adding to the share count.
2 Apr 2015capital raising announcement● Neutral
On March 27, 2015 the company sold 1,500,000 units at $0.12 each to non-U.S. investors for $180,000. Each unit is one share plus a warrant to buy another share at $0.25 until March 27, 2016; an $18,000 finder's fee was paid. This is equity funding, unlike the earlier convertible notes, but it adds shares and warrants.
29 Jan 2015capital raising announcement▼ Bad
On January 23, 2015 the company sold Typenex Co-Investment a $70,000 10% convertible note (net $60,000 after a $6,000 discount and $4,000 legal costs) plus a warrant for 175,000 shares at $0.20 through January 31, 2020. Repayment is five $14,000 installments from July 22, 2015, and the company may pay them in shares at 61% of the average of the three lowest recent bids. This is another convertible loan after the KBM and LG Capital notes, and it can dilute shareholders.
28 Aug 2014capital raising announcement● NeutralMajor
On August 15, 2014 the company issued 100,309,142 common shares to settle $1,063,276.90 of debts, which the filing says was 100% acceptance of the creditor offer disclosed in its July 31, 2014 8-K. 8,000,000 shares went to one accredited investor and 92,309,142 to 18 non-US creditors. This cuts debt but significantly dilutes existing shareholders.
