2 June 2014listing compliance notice▼ Bad
Paradigm Oil & Gas, Inc. withdrew a registration statement, abandoning the offering it covered.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 Dec 2012listing compliance notice▼ BadMajor
Paradigm Oil & Gas, Inc. suspended its duty to file periodic reports with the SEC.
25 Sept 2012listing compliance notice▲ Good
The company withdrew the Form 15 it filed on June 27, 2012 (which sought to end its SEC reporting duty) and said it will keep filing required reports. It reported 53 holders of record, and Todd Violette signed as CEO. The deregistration was not completed, so shareholders are not cut off from reporting.
27 June 2012listing compliance notice▼ BadMajor
Paradigm Oil & Gas, Inc. suspended its duty to file periodic reports with the SEC.
21 Nov 2011material agreement● NeutralMajor
On October 24, 2011 the company agreed with La Jolla Cove Investors to a $200,000 4¾% convertible debenture (funded November 17, 2011, four-year term) and an equity purchase facility of up to $2,000,000. La Jolla may also buy a second $300,000 debenture and a $3,000,000 facility. Conversion is at the lesser of $0.60 or 70% of a low-VWAP average, so more shares may be issued if the price falls. The company is now in Mabank, Texas.
1 Feb 2010asset acquisition disposition● NeutralMajor
Effective January 28, 2010 the company issued 42,000,000 shares for 100% of Integrated Oil and Gas Solutions Inc. (Texas), which holds 100% working interests in 4 Texas leases (about 934 net acres, 9 previously producing wells). Shares outstanding rose from 188,000 to 42,188,000, and Black Pearl Petroleum LLC received 27,594,000 shares (about 65.41%), taking control. Brian Kennedy became director and CFO. The 188,000 prior share count implies an earlier share consolidation (inference), and the Alberta interests are not mentioned.
25 June 2008auditor change● Neutral
The board terminated STS Partners LLP as auditor on June 17, 2008 and appointed Turner, Stone & Company, LLP of Dallas. STS's report on 2007 statements carried a going-concern qualification, with no disagreements. This is the third auditor in under a year, after the 2007 change.
20 June 2008capital raising announcement▼ Bad
On June 19, 2008 the company converted $62,700 of shareholder loans into 20,900,000 common shares (Regulation S), which the filing says funded working capital. This increases the share count for existing holders.
18 Oct 2007auditor change● Neutral
An amendment to the October 15, 2007 auditor-change report, adding that the board accepted Telford Sadovnick's resignation on October 7 and that the board appointed STS Partners. The facts are otherwise unchanged.
15 Oct 2007auditor change▼ Bad
Auditor Telford Sadovnick resigned on October 6, 2007 and STS Partners LLP was appointed on October 15, 2007. The filing says Telford's 2006 report included a going-concern warning citing lack of revenues and a history of losses, with no disagreements. The company is now based in Toronto and run by Marc Juliar.
11 July 2005asset acquisition disposition● Neutral
An amendment to the July 5, 2005 report repeating the same Todd Creek sale, auditor change and director resignation, with added detail on the auditor's resignation date (June 27, 2005) and no-reportable-events wording, and a note that the new auditor reviewed the March 31, 2005 quarter. No new business events.
5 July 2005asset acquisition disposition● NeutralMajor
The company sold half of its 10% Todd Creek interest back to Win Energy for a net CA $117,442.50 (after $64,303.95 of drilling costs), leaving it with 5% of the Todd Creek 13-28 well, which entered final completion and 'tight hole' status. The auditor Cordovano & Honeck resigned, saying it does not audit petroleum companies, and Telford Sadovnick was appointed; director Shiraz Dhanani also resigned. This partly reverses the January 2005 Todd Creek purchase.
12 Apr 2005material agreement● Neutral
The company hired Insight Communications, Inc. to run an investor-awareness and financial communications program (investor website, HTML profile, independent research report, information package). The filing gives no fee amount.
1 Feb 2005asset acquisition disposition● NeutralMajor
The company (then named Paradigm Enterprises, Inc.) brought in Robert L. Pek as director and President, Secretary and Treasurer on a $2,500/month services agreement plus an option on up to 250,000 shares at $0.50 expiring January 20, 2010; the prior president/CEO Brian Doutaz and secretary/CFO James Hutchison resigned as officers and directors. It also paid Win Energy Corporation a total of $506,014 for 5% working interests in the Hillsprings property ($207,383) and the Todd Creek property ($298,631) in Alberta, with an option on a further Hillsprings interest.