Past year: ▼ 100%(0.01c – 16.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
4 May 2012capital raising announcement▼ BadMajor
The board approved paying Dianwen Ju (President/CEO), Xiao Chen (CFO) and Jimmy Wang (Treasurer) $100,000 each for the year from April 25, 2011 to April 24, 2012, when they had served unpaid, by issuing 5,000,000 restricted shares each at $0.02 per share. That is 15,000,000 new shares to the three officers, which dilutes other holders.
11 Aug 2009capital raising announcement● NeutralMajor
The company bought a 37.5% working interest in a 640-acre lease in Uintah County, Utah from Enercor for 300,000 shares, next to the July 2009 tar sand rights. It also issued 4,147,237 shares to Enercor on July 31, 2009 as the stock payment under the July 25 agreement, which dilutes existing holders.
27 May 2008capital raising announcement● NeutralMajor
The company, filing as Cobra Oil & Gas Company (the name used in these filings; the filer is the same company, HK EBUS Corp, under an earlier name), paid Coastal Petroleum Company $180,000 on May 23, 2008 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 also sold 1,000,000 units at $0.25 each ($250,000) to one subscriber, each unit being one share plus a three-year warrant at $0.40.
What it means for a shareholder
1.0m new shares at $0.250 to raise about $250,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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