History
Starting as Cobra Oil & Gas, the company bought oil and tar sand interests in 2008-09, funded by share sales, then went quiet, paying officers in shares in 2012.
2008: Building an oil and gas portfolio
The company, filing then as Cobra Oil & Gas Company, set out to assemble oil and gas interests in 2008. In May it paid Coastal Petroleum Company $180,000 for a two-year option to buy a 50% interest in Valley Creek, Montana leases (about 82,800 net acres) for $1,000,000. It funded this partly by selling 1,000,000 units at $0.25 each ($250,000) to one subscriber; each unit was a share plus a three-year warrant at $0.40. A 35-for-1 forward stock split that month took shares outstanding from 2,004,000 to 70,140,000, and President Massimiliano Pozzoni returned 4,000,000 of his 5,000,000 shares for cancellation. He signed a one-year contract at $120,000 a year in June. In July the company bought a 25% interest in a farmout (a deal to share drilling costs) on the North Semitropic Prospect in Kern County, California for $34,000, plus $100,437.50 paid to Transco Oil & Gas, and it owed its share of drilling and testing costs.
2009: Utah tar sands and a financing line
In July 2009 the company signed a Share Issuance Agreement with Baden Energy Group Ltd., under which Baden could buy units at 80% of the recent average share price, up to $6,000,000 (possibly $10,000,000), through July 6, 2010. Baden could refuse requests and held a right of first refusal on other financings. Later that month the company agreed to buy from Enercor, Inc. a 35%-40% interest in tar sand extraction rights over about 33,632 acres in Uintah County, Utah, for up to $5,000,000, paid in $4,000,000 of restricted shares plus $500,000-$1,000,000 in cash. The Bureau of Land Management had not yet issued the leases, and there was no assurance it would. The company issued 4,147,237 shares to Enercor on July 31, diluting existing holders. In August it bought a 37.5% working interest in a 640-acre Utah lease from Enercor for 300,000 shares.
2010-2012: A quiet record and a change of management
The filings say little about the Montana, California and Utah interests or the Baden facility after 2009, so their outcomes are unknown. The company later operated under the names Viper Resources, Rambo Medical Group and finally HK EBUS Corp, though the filings do not explain the changes. New officers took over in April 2011. In May 2012 the board approved paying Dianwen Ju, Xiao Chen and Jimmy Wang $100,000 each for their unpaid first year by issuing 5,000,000 restricted shares each at $0.02, 15,000,000 new shares in all. As of January 2019, no producing assets were confirmed in the filings, and Jimmy Wang was serving as CEO and CFO.
Written from the 7 story beats below (2008 to 4 May 2012), which come from the company's own announcements and filings.