19 Sept 2017listing compliance notice▼ BadMajor
MONDIAL VENTURES, INC. deregistered its securities, ending its obligation to file reports with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
24 Feb 2016material agreement● Neutral
Mondial extended the EZTicket Live merger agreement again, effective February 19, 2016 (the text says 2015, apparently a typo, an inference), with no new closing date given. It references earlier extension filings from July, October and December 2015, so the merger has now been pending for over eight months without closing.
7 Dec 2015material agreement▼ BadMajor
Mondial's agreement to merge with online ticket seller EZTicket Live slipped for a third time, confirming the oil and gas shell was on its way out of the business entirely. The extension signed on 1 December names a new deadline of 30 November 2015 - a date already past.
6 Oct 2015material agreement● Neutral
Effective September 30, 2015 Mondial again extended the June 11, 2015 EZTicket Live merger agreement 'to accommodate the terms of closing', with no new closing date or other terms given in the text. The merger is still not completed.
24 July 2015debt financing▼ BadMajor
Effective July 15, 2015 Mondial extended the EZTicket Live merger agreement 'to accommodate the terms of closing', without stating a new date. Separately, effective July 20, 2015 Mondial, through Boomerang Oil, accepted a notice allowing operator Success Oil to use the properties under the participation option as collateral; the option interests temporarily terminate and can be paid off and reinstated, at a cost of $50,000 for remediation and other expense plus $15,000 interest, $65,000 in total. The filing says this funds remediation and acid stimulation of an existing producing well and that Mondial plans to reinstate the option before any new drilling. This breaks the string of monthly extensions of the drilling participation, at least for now.
6 July 2015material agreement● Neutral
Effective June 30, 2015 Mondial extended the Shale Corp. participation deadline to July 31, 2015 and signed a fifteenth Success Oil option amendment running to July 31, 2015. The $200,000 owed to Success is still to be paid from current producing wells. Another monthly deferral of the drilling funding.
15 June 2015business combination● NeutralMajor
On June 11, 2015 Mondial and certain preferred shareholders signed a merger agreement under which online ticketing company EZTicket Live, Inc. would merge into a Mondial subsidiary, with EZTicket shareholders receiving shares equal to about 75% of Mondial's then-outstanding shares. Closing depends on consolidating Mondial's debt, filing all overdue annual and quarterly reports, and paying certain debts. Existing holders would be left with about 25% if it closes, and the deal would take Mondial beyond oil and gas; it replaces the stalled September 2014 MRGB3 letter of intent, which this filing does not mention.
2 June 2015material agreement● Neutral
Effective May 31, 2015 Mondial extended the Shale Corp. participation deadline to June 30, 2015 and signed a fourteenth Success Oil option amendment running to June 30, 2015. The $200,000 owed to Success is still to be paid from current producing wells. Another monthly deferral of the first prospect well funding.
5 May 2015material agreement● Neutral
Effective April 30, 2015 Mondial extended the Shale Corp. participation deadline to May 31, 2015 and signed a thirteenth Success Oil option amendment running to May 31, 2015. The $200,000 owed to Success is still to be paid from current producing wells. The drilling funding is deferred again; the filing does not cover the March 2015 extension (a twelfth amendment is implied by numbering, an inference).
6 Apr 2015material agreement▼ Bad
Mondial extended, for the second year running, the deadline to fund its share of a turnkey well into the Ellenburger formation at about 8,300 feet, operated by Success Oil alongside TWL Investments and EGPI Firecreek's Energy Producers. Repeatedly deferring a single well says the money to drill it was never there.
5 Mar 2015material agreement● Neutral
Effective February 28, 2015 Mondial extended the Shale Corp. participation deadline to March 31, 2015 and signed an eleventh Success Oil option amendment. The filing text says the option runs 'through February 28, 2015', which does not match the new date and may be a carry-over error (an inference). The $200,000 owed to Success is still to be paid from current producing wells.
4 Feb 2015material agreement● Neutral
Effective January 31, 2015 Mondial extended the Shale Corp. participation deadline to February 28, 2015 and signed a tenth Success Oil option amendment running to February 28, 2015. The $200,000 owed to Success is still to be paid monthly from current producing wells. The drilling funding is deferred again. The heading calls it the 'Ninth' amendment but the body says Tenth.
7 Jan 2015material agreement● Neutral
Effective December 31, 2014 Mondial extended the Shale Corp. participation deadline for delivering drilling cost on the first prospect well to January 31, 2015, and signed a ninth Success Oil option amendment. The $200,000 of past-due costs to Success is still to be paid monthly from current producing wells. This is another monthly deferral of the drilling funding. The option amendment text says it runs 'through January 31, 2014', which looks like a typo for 2015 (an inference).
3 Dec 2014material agreement● Neutral
Effective November 30, 2014 Mondial extended the Shale Corp. participation deadline to December 31, 2014 and signed an eighth Success Oil option amendment running to December 31, 2014. The $200,000 past-due costs to Success is still to be paid from current producing wells. This is another monthly deferral of the first prospect well funding.
6 Nov 2014material agreement● Neutral
Effective October 31, 2014 Mondial extended the Shale Corp. participation deadline to November 30, 2014 and the Success Oil option to November 30, 2014 (called the seventh amendment in the heading, though the body text says 'Sixth'). The $200,000 owed to Success is still to be paid from current producing wells. The drilling funding deadline is deferred yet again.
30 Oct 2014capital raising announcement▼ BadMajor
From September 23 to October 29, 2014 Mondial issued 226,497,142 shares to reduce $10,187 of convertible notes and 155,000,000 shares to reduce $9,300 of payables, taking shares outstanding from about 1,594,428,611 to about 1,976,025,753. The cover page gives September 17 as the event date, apparently a carry-over.
3 Oct 2014material agreement● Neutral
Effective September 30, 2014 Mondial extended the Shale Corp. participation deadline to October 31, 2014 and signed a sixth Success Oil option amendment running to October 31, 2014. The $200,000 of past-due costs to Success is still to be paid from current producing wells. The filing says nothing about the MRGB3 deal that was targeted to close around this date.
23 Sept 2014capital raising announcement▼ BadMajor
From September 17 to 22, 2014 Mondial issued 142,928,571 shares to reduce $6,575 of convertible notes and 90,000,000 shares to reduce $5,400 of payables, taking shares outstanding from about 1,361,500,040 to about 1,594,428,611.
16 Sept 2014capital raising announcement● NeutralMajor
On September 10, 2014 Mondial and its majority-owned Boomerang Oil signed a non-binding letter of intent with Oregon-based MRGB3, LLC, a reduced-carbon farming company, targeting a close around September 30, 2014. Under it, Series C preferred holders would swap their shares for Mondial's 66.17% interest in Boomerang, Michael Gillespie would become CEO, and a name change (possibly to Reduced Carbon Farming, Inc.) is floated; this would move Mondial away from oil and gas, with terms still to be settled. Separately, on September 15 it issued two 10% convertible notes of $50,000 each (a first tranche of at least $25,000, the rest on conditions) maturing March 15, 2015, and issued 90,000,000 shares to cut $5,400 of payables, reaching about 1,361,500,040 shares.
10 Sept 2014capital raising announcement▼ BadMajor
From September 5 to 9, 2014 Mondial issued 88,340,000 shares to reduce $4,417 of convertible notes, taking shares outstanding from 1,183,160,040 to about 1,271,500,040. Dilution continues.
2 Sept 2014material agreement● Neutral
Effective August 31, 2014 Mondial again extended the Shale Corp. participation deadline for delivering drilling cost on the first prospect well, now to September 30, 2014. A fifth Success Oil option amendment says the option runs through August 31, 2014, with the $200,000 of past-due costs still to be paid monthly from current producing wells. The drilling funding is still being deferred rather than completed.
28 Aug 2014capital raising announcement▼ BadMajor
From August 25 to 27, 2014 Mondial issued 182,257,142 shares to reduce $7,970 of convertible notes and 90,000,000 shares to reduce $5,400 of payables, taking shares outstanding from 910,902,898 to about 1,183,160,040. Shares have now passed one billion.
25 Aug 2014capital raising announcement▼ BadMajor
From August 19 to 22, 2014 Mondial issued 75,757,000 shares to reduce $2,188 of notes and $1,920 of payables, reaching about 910,902,898 shares. It also raised authorized shares from 1,500,000,000 to 5,000,000,000 (4,490,000,000 common), effective August 19, 2014, with consent from holders of at least 76.08% of votes through supervoting preferred stock, to help meet transfer-agent share reserve requirements. This gives room for far more dilution; the filing's text says the board approved on 'August 18, 2013', which looks like a typo (an inference).
15 Aug 2014capital raising announcement▼ BadMajor
From August 14 to 15, 2014 Mondial issued 71,428,571 shares to reduce convertible notes by $3,000, bringing shares outstanding to about 835,145,977. The filing states the period start as August 13 and the start count matches the prior filing.
14 Aug 2014capital raising announcement▼ BadMajor
From August 11 to 13, 2014 Mondial issued 149,855,190 shares to reduce convertible notes by $6,289 and payables by $1,920, taking shares outstanding from 613,862,216 to about 763,717,406. Existing holders are diluted further.
11 Aug 2014capital raising announcement▼ BadMajor
From August 6 to 8, 2014 Mondial issued 136,732,457 shares to reduce $8,654 of note and payable balances, lifting shares outstanding from 477,129,759 to 613,862,216. The dilution keeps going in small debt-for-share swaps.
6 Aug 2014capital raising announcement▼ BadMajor
From August 1 to 5, 2014 Mondial issued 144,827,190 more common shares to cut $9,058 of convertible note and payable balances, taking shares outstanding from 332,302,490 to 477,129,759. This continues the heavy dilution seen in the August 1 filing.
4 Aug 2014material agreement● Neutral
On July 31, 2014 Mondial extended the Shale Corp. participation agreement again, now to August 30, 2014, for participants to deliver their share of drilling cost to casing point for the first prospect well. A fourth amendment to the Success Oil option is also signed; the text says the option runs through July 31, 2014, the same date as the prior amendment, which looks like an error (an inference). The $200,000 owed to Success is still to be paid from current well cash flow.
1 Aug 2014capital raising announcement▼ BadMajor
Between May 20 and July 31, 2014 Mondial issued 309,120,125 common shares to cut $77,382 of convertible note and payable balances, taking shares outstanding from 23,182,295 to 332,302,490, about 14 times as many. It also issued a June 13, 2014 convertible note with a $44,000 face value for two $22,000 installments, 10% interest, maturing December 13, 2014. This is heavy dilution for existing shareholders.
7 July 2014material agreement● Neutral
On June 30, 2014 Mondial again extended the Shale Corp. participation agreement and the Success Oil option; the option now runs to July 31, 2014. The $200,000 of past-due costs owed to Success is still to be paid monthly from current producing wells. The text of the participation extension repeats the earlier June 30, 2014 deadline, so its new date is not clear from this filing. The drilling funding deadline keeps being deferred.