22 Sept 2015substantial holder notice● Neutral
DAVID H. WOODS disclosed a new substantial North American Oil & Gas Corp. shareholding (5.26% of votes).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Sept 2015substantial holder notice● Neutral
VIS VIRES GROUP, INC. EIN disclosed a new substantial North American Oil & Gas Corp. shareholding (9.99% of votes).
1 June 2015financial restatement▼ BadMajor
The company says its quarterly report for the period ended March 31, 2015 (filed May 29, 2015, showing a $553 thousand net loss) should not be relied upon. Its auditor, MaloneBailey, told the company it had not consented to the filing and was still completing its internal procedures, and the company also found typographical errors in the financial statements. The company intends to file an amended report promptly once MaloneBailey consents. The filing gives no corrected figures, so the earlier loss number is unconfirmed.
29 May 2015quarterly activities report▼ Bad
North American Oil & Gas Corp. reported a quarterly net loss of $553 thousand for the period ended 2015-03-31.
21 May 2015director interest notice● Neutral
North American Oil & Gas Corp. insider Donald Boyd bought 2,791,667 shares on the open market at $0.00.
21 May 2015director interest notice● Neutral
North American Oil & Gas Corp. Chief Financial Officer Cosimo Damiano bought 2,791,667 shares on the open market at $0.00.
21 May 2015director interest notice● Neutral
North American Oil & Gas Corp. insider Robert Skerry Hoar bought 11,250,000 shares on the open market at $0.00.
18 May 2015late filing notice▼ Bad
North American Oil & Gas Corp. notified the SEC that its quarterly report would be filed late.
1 Apr 2015late filing notice▼ Bad
North American Oil & Gas Corp. notified the SEC that its annual report would be filed late.
17 Feb 2015substantial holder notice● Neutral
East West Petroleum Corp reported a North American Oil & Gas Corp. shareholding of 837,096 shares (1.30% of votes) in a periodic institutional filing.
21 Jan 2015capital raising announcement▼ BadMajor
On January 8, 2015 the company and Beaufort Ventures mutually ended the $5,000,000 stock purchase facility from March 2014. The required S-1 registration, begun in April 2014, was never completed and the company chose to stop it. To compensate Beaufort for the termination, the company issued 300,000 unregistered shares. The facility is therefore closed without any stated sales under it, and the company loses that funding route.
28 Nov 2014debt financing▼ BadMajor
On November 20, 2014, WHC Capital, LLC told the company it was in default on an August 12, 2014 securities purchase agreement for missed payments, and accelerated the debt. WHC says about $290,000 is now owed immediately. The company says it is in talks with WHC to restructure.
14 Nov 2014quarterly activities report▼ Bad
North American Oil & Gas Corp. reported a quarterly net loss of $271 thousand for the period ended 2014-09-30.
17 Oct 2014listing compliance notice▼ Bad
North American Oil & Gas Corp. withdrew a registration statement, abandoning the offering it covered.
15 Sept 2014securities registration● Neutral
North American Oil & Gas Corp. registered a securities offering with the SEC.
27 Aug 2014quarterly activities report▼ Bad
North American Oil & Gas Corp. reported a quarterly net loss of $136 thousand for the period ended 2014-06-30.
22 Aug 2014listing compliance notice▼ Bad
North American Oil & Gas Corp. withdrew a registration statement, abandoning the offering it covered.
14 Aug 2014late filing notice▼ Bad
North American Oil & Gas Corp. notified the SEC that its quarterly report would be filed late.
8 Aug 2014securities registration● Neutral
North American Oil & Gas Corp. amended a filing by which it registered a securities offering with the SEC.
4 Aug 2014securities registration● Neutral
North American Oil & Gas Corp. amended a filing by which it registered a securities offering with the SEC.
28 July 2014material agreement● Neutral
On July 23, 2014 the company borrowed $20,000 on a short-term note from ASPS Energy Investments Ltd., which is controlled by CEO Robert Rosenthal. The note bears 4% interest and is due by August 26, 2014; proceeds go to general business purposes. It is a related-party loan.
15 July 2014securities registration● Neutral
North American Oil & Gas Corp. amended a filing by which it registered a securities offering with the SEC.
16 June 2014securities registration● Neutral
North American Oil & Gas Corp. amended a filing by which it registered a securities offering with the SEC.
19 May 2014quarterly activities report▼ Bad
North American Oil & Gas Corp. reported a quarterly net loss of $329 thousand for the period ended 2014-03-31.
16 May 2014securities registration● Neutral
North American Oil & Gas Corp. amended a filing by which it registered a securities offering with the SEC.
14 May 2014late filing notice▼ Bad
North American Oil & Gas Corp. notified the SEC that its quarterly report would be filed late.
8 Apr 2014securities registration● Neutral
North American Oil & Gas Corp. registered a securities offering with the SEC.
28 Mar 2014material agreement▲ GoodMajor
On March 24, 2014 the company signed an investment agreement letting it sell up to $5,000,000 of common stock to Beaufort Ventures PLC over time, at its own option in multiples of $100,000, at a 15% discount to market price. The shares must first be registered on a Form S-1, which the company has to file. The agreement ends automatically after about 36 months or if the registration stops being effective.
3 Feb 2014capital raising announcement▼ Bad
On January 27, 2014 the company executed a third tranche with Oel und Erdgazforshung AG, selling 854,701 shares for $200,000 plus warrants for 100,000 shares at $0.30 each, expiring January 27, 2017. The same $200,000 now buys about 3.5 times as many shares as the October 2013 tranche (246,914 shares), and the warrant price is $0.30 versus $1.04 earlier. This continues the October 2013 financing on lower pricing (inference from the figures).
What it means for a shareholder
100,000 new shares at $0.300 to raise about $30,000. That's 0.163% dilution: every existing holder's slice gets 0.163% smaller. If you held $1,000 of shares (3,333 at the issue price), your slice goes from 0.00545% to 0.00545% of the company. To keep it you'd need 5 more shares - about $2 at the issue price.
Create a free account to see this worked out for your own holding.
12 Nov 2013quarterly activities report▼ Bad
North American Oil & Gas Corp. reported a quarterly net loss of $171 thousand for the period ended 2013-09-30.