12 Apr 2011auditor change● Neutral
Premier Energy dismissed Audit Firm Femida-Audit as its independent auditor; this is the company's last filing in this corpus, with no further SEC filings recorded afterward.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
22 Dec 2010quarterly activities report▼ BadMajor
Premier Energy's quarterly report for the period ended September 30, 2010 - filed just after the Karbon divestment was announced - showed a net loss of $2,367,806 for the quarter ($3,320,748 for the nine months), a sharp jump consistent with writing down the Russian assets it was about to give away.
18 Nov 2010asset acquisition disposition▼ BadMajor
Premier Energy unwound its entire Russian oil venture: it gave up Karbon, CJSC back to Auxerre Trading Ltd., which in turn surrendered its 107,406,000 shares (about 51% of Premier) for cancellation and agreed to assume and indemnify Premier against all of Karbon's existing liabilities - closing the loop on the reverse merger from February 2009 and leaving Premier once again without an operating business.
15 Apr 2010annual report▼ Bad
Premier Energy's FY2009 annual report showed revenue of $383,158 and a net loss of $1,205,163 (versus $808,211 revenue and a $1,097,077 net loss in the Karbon-based FY2008 comparative), with the $65 million Speckrit acquisition from December 2009 notably absent from the outlook.
14 Dec 2009material agreement● NeutralMajor
Premier Energy agreed to buy 100% of Speckrit LLC, another Russian limited liability company, from Rossgaz LLC for $65,000,000 - a huge sum relative to the company's size - with its own filing admitting there was no guarantee it could raise the money; the deal does not appear again in the company's subsequent filings and appears to have lapsed.
28 Sept 2009auditor change▼ BadMajor
Premier Energy disclosed that the PCAOB had revoked former auditor Moore & Associates Chartered's registration in August 2009 for real audit-quality violations - PCAOB rule and auditing-standard breaches and non-cooperation with a Board investigation - retroactively casting doubt on the reliability of Premier's own pre-2009 audited financials.
19 June 2009director officer appointment● Neutral
Michael Yuster resigned as an officer and director of Premier Energy to pursue other business interests, completing his exit that began when Auxerre took control via the Karbon merger; CEO Anton Prodanovic became the company's sole remaining listed leader.
1 May 2009annual report● Neutral
Premier Energy filed a transition-period annual report covering the fiscal-year-end change to December 31, its first annual filing to reflect the Karbon acquisition.
22 Apr 2009auditor change● Neutral
Premier Energy engaged Audit Firm Femida-Audit, LLC as its new independent auditor, replacing Moore & Associates; Femida had already audited Karbon's own financials for 2006-2008.
27 Feb 2009business combination● Neutral
Premier Energy amended its Karbon reverse-merger 8-K to add updated audited financial statements for Karbon's 2008 fiscal year; the underlying transaction was unchanged.
12 Feb 2009other● Neutral
The SEC completed its review of Premier Energy's auditor-change filings with no further comments.
11 Feb 2009other● Neutral
Premier Energy responded in writing to the SEC's comments on its auditor-change filing.
9 Feb 2009other● Neutral
The SEC sent Premier Energy a comment letter on its auditor-change (Item 4.01) 8-K filing.
2 Feb 2009business combination▲ GoodMajor
Premier Energy completed its pivot into real oil-and-gas operations: a reverse merger acquiring 51% of Karbon, CJSC - a Russian producer at the North-Kopanskoye Oilfield in the Volga-Urals basin with an estimated 30.9 million barrels of reserves and an existing export offtake contract with global trader Trafigura Group - from BVI intermediary Auxerre Trading Ltd. in exchange for 107,406,000 shares (about 51% of the combined company); Auxerre thereby became Premier's controlling shareholder, and Michael Yuster's ZRV-linked shares were cancelled as part of the same transaction.
23 Oct 2008other● NeutralMajor
Premier Energy issued a press release confirming its new strategic focus on oil and gas exploration and production under incoming CEO Anton Prodanovic, following the discontinuation of its former (nursing-products) business.
22 Oct 2008director officer appointment▲ GoodMajor
Premier Energy hired Dr. Anton Prodanovic - a veteran of Mobil Corporation and Exxon Production Research with decades of oil-and-gas project experience - as CEO and director, the clearest signal yet that the company intended to become a real energy operator rather than just carry the name.
30 Sept 2008bylaws amendment● NeutralMajor
New owner Michael Yuster renamed the company from Premier Nursing Products Corp. to Premier Energy Corp., signaling a pivot away from its original nursing-products plan well before any actual energy business was acquired.
9 Sept 2008director officer appointment● NeutralMajor
Founder Sheldon Rose sold 162,000,000 shares (about 77% of the company) to ZRV Consulting Inc. - owned by Michael Yuster - for $300,000 cash, resigning all his positions as Yuster took over as President, CEO and director; the company's original nursing-products plan was effectively abandoned at this point.
25 July 2008annual report▼ Bad
Premier Nursing Products' first annual report (year ended May 31, 2008) showed no revenue and substantial doubt about its ability to continue as a going concern; its sole employee remained unpaid CEO Sheldon Rose.
7 Nov 2007other● Neutral
Premier Nursing Products filed a Regulation D exemption notice for a securities sale; this filing exists only as a paper-era placeholder on EDGAR with no electronically readable content.
31 Aug 2007other● Neutral
The SEC declared Premier Nursing Products' IPO registration statement effective.
15 Aug 2007securities registration● NeutralMajor
Premier Nursing Products Corp., a newly incorporated Florida shell planning to manufacture and sell breastfeeding/nursing products (nursing pads, pillows, privacy shawls), filed to register 3,000,000 shares at $0.01 each (up to $30,000) for its IPO under sole officer/director Sheldon R. Rose.