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.
1 Apr 2011late filing notice▼ Bad
PREMIER ENERGY CORP. notified the SEC that its annual report would be filed late.
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.
16 Nov 2010late filing notice▼ Bad
PREMIER ENERGY CORP. notified the SEC that its quarterly report would be filed late.
23 Aug 2010quarterly activities report▼ Bad
Premier Energy reported a net loss of $548,463 for the quarter ended June 30, 2010, more than quadruple the same quarter a year earlier - a widening trend that preceded the company's decision, four months later, to give up its Karbon subsidiary entirely.
13 Aug 2010late filing notice▼ Bad
PREMIER ENERGY CORP. notified the SEC that its quarterly report would be filed late.
20 May 2010quarterly activities report▼ Bad
Premier Energy reported a net loss of $404,479 for the quarter ended March 31, 2010, up from $373,118 in the same quarter a year earlier.
17 May 2010late filing notice▼ Bad
PREMIER ENERGY CORP. notified the SEC that its quarterly report would be filed late.
16 Apr 2010securities registry admin● Neutral
Premier Energy registered shares under a new 2010 Incentive Stock Plan for employees and consultants.
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.
1 Apr 2010late filing notice▼ Bad
PREMIER ENERGY CORP. notified the SEC that its annual report would be filed late.
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.
23 Nov 2009quarterly activities report▼ Bad
Premier Energy reported a net loss of $345,962 for the quarter ended September 30, 2009 ($842,017 for the nine months), continuing a widening loss trend since the Karbon acquisition.
13 Nov 2009late filing notice▼ Bad
PREMIER ENERGY CORP. notified the SEC that its quarterly report would be filed late.
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 Aug 2009quarterly activities report▼ Bad
Premier Energy reported a net loss of $122,937 for the quarter ended June 30, 2009 from its Karbon oil operations.
14 Aug 2009late filing notice▼ Bad
PREMIER ENERGY CORP. notified the SEC that its quarterly report would be filed late.
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.
15 May 2009quarterly activities report▼ Bad
Premier Energy reported its first full quarter of real oil operations: 5,199 barrels of net oil production for the quarter ended March 31, 2009 generating $68,416 of oil sales, against a net loss of $373,118.
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.
12 Feb 2009bylaws amendment● Neutral
Premier Energy corrected a clerical error in its auditor-dismissal 8-K, fixing the stated dismissal date for Moore & Associates from February 5 to February 4, 2009.
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.
9 Feb 2009bylaws amendment● Neutral
Premier Energy dismissed auditor Moore & Associates Chartered and changed its fiscal year end from May 31 to December 31 to align with newly acquired subsidiary Karbon, CJSC.
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.
21 Jan 2009quarterly activities report● Neutral
Premier Energy refiled its November 2008 quarterly report as an amendment; its financial position was unchanged.