Past year: ▲ 0%(0.01c – 0.01c USD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
17 July 2014substantial holder notice● Neutral
IBC Funds LLC EIN disclosed a new substantial MONDIAL VENTURES, INC. shareholding (9.90% of votes).
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.
9 June 2014capital raising announcement● Neutral
On June 1, 2014 Mondial hired Robert M. Cohen of Revolution Investment Management as Chairman of a Financial Advisory Board, at $60,000 for six months, payable from revenue or from a share of capital raised. He also gets a 12-month 6% convertible debenture, stated as $75,000 (written inconsistently in the text), and the agreement can be renewed in six-month periods.
27 May 2014substantial holder notice● Neutral
Hanover Holdings I, LLC, Magna Group, LLC, Joshua Sason reported a MONDIAL VENTURES, INC. shareholding of 2,472,527 shares (9.63% of votes) in a periodic institutional filing.
27 May 2014substantial holder notice● Neutral
ASHER ENTERPRISES, INC. EIN reported a MONDIAL VENTURES, INC. shareholding of 2,315,911 shares (9.99% of votes) in a periodic institutional filing.
20 May 2014quarterly activities report▼ Bad
MONDIAL VENTURES, INC. reported quarterly revenue of $36 thousand and a net loss of $3.9 million for the period ended 2014-03-31.
15 May 2014late filing notice▼ Bad
MONDIAL VENTURES, INC. notified the SEC that its quarterly report would be filed late.
3 Apr 2014material agreement● Neutral
On March 26, 2014 Mondial extended the Shale Corp. participation agreement, giving participants until June 30, 2014 to deliver their share of drilling cost for the first prospect well. It also signed a second amendment extending the Success Oil option to June 30, 2014, with $200,000 of past-due costs owed to Success to be paid monthly from joint interest billings on current producing wells, starting after April 6, 2014. The filing calls Boomerang Oil a majority-owned subsidiary of Mondial, and the deadline has now been pushed back again rather than met.
3 Apr 2014capital raising announcement▼ BadMajor
Mondial approved restricted common share issuances for services in February and March 2014. These include 1,600,000 shares to Steven Antebi valued at $100,000, 3,000,000 to Dennis Alexander's Global Media Network USA, 1,500,000 to CFO Joanne Sylvanus, and further blocks to consultants and to attorney Jeffrey Proper and associates, and others. Most values are left blank pending valuation, with the last known price about $0.1499 a share on January 30, 2014 and a recent 1:1500 reverse split noted. For shareholders this means more dilution, including to insiders.
31 Mar 2014late filing notice▼ Bad
MONDIAL VENTURES, INC. notified the SEC that its annual report would be filed late.
31 Mar 2014material agreement▼ BadMajor
On March 21, 2014 a Florida court approved a settlement with IBC Funds, LLC, which had bought $206,000 of Mondial's past-due vendor bills (transfer agent, oil and gas development, reserve report, legal and consulting fees) and sued to collect. Mondial will settle by issuing shares to IBC, capped so IBC holds no more than 9.99% of the common stock; the filing does not state how many shares. The settlement also bars Mondial and its affiliates from voting for mergers, asset sales, charter changes or deregistration while IBC holds shares, unless the court allows it.
7 Feb 2014asset acquisition disposition● NeutralMajor
Mondial agreed (Asset Purchase Agreement dated January 21, 2013 in the text, with closing due on or before January 31, 2014; the 2013 date looks like a typo, which is an inference) to sell its J.B. Tubb leasehold interests and related participation and option agreements to Ontario-based Shale Corp. for US$1,282,430: $45,000 cash at signing, 47,000,000 Shale-side common shares at closing, and Shale taking on assumed liabilities. Shale plans to combine with a Canadian-listed shell, and Dennis Alexander is to be named its President/CEO. Separately, an Omnibus Agreement of December 31, 2013 has Mondial pay EGPI $218,875 for Ward County, Texas interests and assume $550,000 of EGPI-related debt owed to TWL Investments and Thomas J. Richards, with EGPI to issue Mondial a $550,000 8% six-month convertible note. The filing also extends the Success Oil option to April 1, 2014 (requiring debts to Success to be settled by then) and mentions a letter of intent with Ben J. Taylor, Inc. for a staged frac on the University No. 1 well in Ward County, needing about $1.2 million to be raised. This builds on the EGPI/Energy Producers relationship, and Alexander sits on both sides.
15 Jan 2014capital raising announcement▼ BadMajor
Effective January 14, 2014 Mondial created a Series C Preferred Stock (2,000,000 shares authorized, 31,500 votes each, not convertible into common) and issued 50,000 shares each to Global Media Network USA (owned by Chairman/CEO Dennis Alexander) and CFO Joanne Sylvanus for services. That is 3,150,000,000 votes in total (100,000 shares x 31,500, my calculation), giving the two insiders voting control over the common holders. The filing states a certificate date of July 13, 2014 alongside the January 14, 2014 effective date, an apparent inconsistency.
5 Nov 2013quarterly activities report▼ Bad
MONDIAL VENTURES, INC. reported quarterly revenue of $42 thousand and a net loss of $643 thousand for the period ended 2013-09-30.
24 Sept 2013substantial holder notice● Neutral
Magna Group, LLC, Joshua Sason disclosed a new substantial MONDIAL VENTURES, INC. shareholding (9.89% of votes).
3 Sept 2013substantial holder notice● Neutral
LG CAPITAL FUNDING, LLC. EIN:, Joseph Lerman, Boruch Greenberg, Daniel Louis Gellman disclosed a new substantial MONDIAL VENTURES, INC. shareholding (9.99% of votes).
19 Aug 2013quarterly activities report▼ Bad
MONDIAL VENTURES, INC. reported quarterly revenue of $44 thousand and a net loss of $902 thousand for the period ended 2013-06-30.
14 Aug 2013late filing notice▼ Bad
MONDIAL VENTURES, INC. notified the SEC that its quarterly report would be filed late.
20 May 2013quarterly activities report▼ Bad
MONDIAL VENTURES, INC. reported quarterly revenue of $18 thousand and a net loss of $645 thousand for the period ended 2013-03-31.
15 May 2013late filing notice▼ Bad
MONDIAL VENTURES, INC. notified the SEC that its quarterly report would be filed late.
7 May 2013substantial holder notice● Neutral
STEVEN ANTEBI disclosed a new substantial MONDIAL VENTURES, INC. shareholding (8.47% of votes).
1 Apr 2013late filing notice▼ Bad
MONDIAL VENTURES, INC. notified the SEC that its annual report would be filed late.
27 Feb 2013auditor change● Neutral
This amendment clarifies the February 19, 2013 auditor-change notice. It adds that Anton & Chia reviewed one report, the September 30, 2012 quarterly statements, and restates that Stan J.H. Lee's earlier reports had a going-concern doubt. It also repeats that there were no disagreements, and includes an updated letter from Anton & Chia dated February 27, 2013. M&K CPAS remains the new auditor.
19 Feb 2013auditor change▼ Bad
Anton & Chia LLP resigned as auditor on February 19, 2013, only months after being hired in October 2012, and Mondial retained M&K CPAS, PLLC the same day. The filing reports no disagreements and gives no reason for the resignation. This is the second auditor change in about four months.
6 Feb 2013director interest notice● Neutral
Dennis Alexander became a MONDIAL VENTURES, INC. CEO, President and company insider (initial ownership filing).
2 Jan 2013substantial holder notice● Neutral
ASHER ENTERPRISES, INC. EIN disclosed a new substantial MONDIAL VENTURES, INC. shareholding (9.99% of votes).
