Past year: ▲ 0%(0.01c – 0.01c USD)
Each one in plain English, with the numbers worked through for a shareholder.
14 July 2009listing compliance notice▼ BadMajor
Deregistered its securities in 2009 with only about 8 holders of record, under an entirely different president (Robert Charlton) and a New Jersey address - the company went dark for roughly two years after its 2006-2007 oil-and-gas properties were written off or unwound, and this filing formally ends its SEC reporting.
13 July 2007material agreement▼ Bad
Terminated its Fayetteville Shale sub-participation interest (the August 2006 Projection Capital deal) via an agreement with FS Subparticipation #1's general partner and its working-interest partner Wildes Exploration, LLC - unwinding the last of the four 2006 oil-and-gas acquisitions.
21 May 2007quarterly activities report▼ BadMajor
Third-quarter net loss widened further to $246,595, pushing the cumulative deficit since inception to roughly $765,600 - continuing the sharp deterioration since the 2006 oil-and-gas pivot.
16 Apr 2007material agreement▼ Bad
The August 2006 MB Gas Inc. acquisition letter of intent lapsed unconsummated on its October 1, 2006 deadline; in its place, PrimeGen signed a smaller funding-and-revenue-sharing arrangement with MB Gas instead of buying the company outright.
26 Mar 2007director officer appointment▼ BadMajor
Gordon Samson resigned as CFO and director, the second of the three Aug/Oct 2006 board members (after Mustafoglu) to depart within a year, leaving Glen Harder to sign the company's filings.
7 Feb 2007quarterly activities report▼ BadMajor
Second quarter as an oil-and-gas company: a further $196,988 net loss (versus a combined roughly $8,000 in comparable pre-pivot periods), driven by the new consulting-fee and acquisition-related spending, with the Kansas database, Fayetteville Shale sub-participation and BC gold claim now the company's stated properties - no further mention of the North Franklin or MB Gas deals.
31 Jan 2007director officer appointment▼ BadMajor
Mike Mustafoglu resigned as President, CEO and director - the company never filed the 8-K disclosing his appointment to those roles in the first place, so this resignation is the only record of his tenure in PrimeGen's SEC filings.
22 Dec 2006material agreement● Neutral
Signed three-year consulting agreements (through December 2009) with directors Glen Harder, Gordon Samson and William Marshall plus TransGlobal Financial Services LLC, each paid $15,000/month; one consultant also received a signing bonus of 7,866,000 shares transferred from existing shareholders.
14 Nov 2006quarterly activities report▼ BadMajor
First quarter as an oil-and-gas company: cumulative net loss reached $321,504 since inception, mostly a $195,433 dry-hole write-off after the Joe's Landing well (drilled in about three weeks) came up uneconomical and was plugged and abandoned in August 2006.
2 Nov 2006material agreement▲ GoodMajor
Fourth oil-and-gas deal: paid $675,000 for a 90% participation right in a proprietary geological database covering about one million acres of central Kansas, intended to identify overlooked drilling prospects.
31 Oct 2006director officer appointment● NeutralMajor
William Marshall - Fidelis Energy's president and the North Franklin counterparty - joined PrimeGen's board as Chairman, and simultaneously returned 15,000,000 of his restricted shares to treasury for cancellation, cutting shares outstanding from 52,590,000 to 37,590,000.
6 Oct 2006other material event▼ Bad
Scaled back the North Franklin acquisition to cover only Silver Star's 40% interest, dropping the Fidelis 35% portion (while keeping a right of first refusal on it) as the definitive purchase agreement was still being finalized.
29 Sept 2006annual report● Neutral
FY2006 10-KSB (year ended June 30, 2006, before the August 2006 oil-and-gas pivot): still the pre-transformation shell company, with a cumulative net loss of just $47,931 since inception and a going-concern qualification from new auditor De Leon & Company.
28 Aug 2006other material event▲ GoodMajor
Announced a letter of intent with Silver Star Energy Inc. and Fidelis Energy, Inc. to buy their combined 75% working interest (40% and 35% respectively) in the "North Franklin" gas project near Sacramento - already producing from three wells - to be paid in cash and PrimeGen shares; Fidelis's president William Marshall was expected to join PrimeGen as an officer/director on closing.
23 Aug 2006auditor change● Neutral
Dismissed Moen and Company as auditor and engaged De Leon & Company in its place, with no disagreements over accounting matters - a routine change coinciding with the broader restructuring.
23 Aug 2006material agreement▲ GoodMajor
Third deal in the same two-week burst: signed a letter of intent to acquire MB Gas Inc., a Calgary-based operator of the "Manyberries" gas project in southern Alberta, for up to $15 million, with an October 1, 2006 deadline to reach a definitive agreement.
18 Aug 2006material agreement▲ GoodMajor
Second deal in the same week: agreed to pay Projection Capital Limited $2.5 million for a 100% Class A interest in a partnership that sub-participates in a 10% working interest across roughly 30,000 acres of the Fayetteville Shale gas play in Arkansas.
15 Aug 2006material agreement▲ GoodMajor
First deal under the new oil-and-gas strategy: agreed to acquire a working interest (stated as 35% in the 8-K body but 32.5% in the same day's press release) in the "Joe's Landing" natural gas prospect near Sacramento, California, from Archer Exploration, Inc.
10 Aug 2006director officer appointment● NeutralMajor
Added oil-and-gas securities lawyer Glen D. Harder to the board and announced the company will pivot from gold exploration to oil and gas, rename itself "PrimeGen Energy Corporation," and relocate its head office to Dallas, Texas - the clearest signal yet of the change in direction following the Samson/Harder leadership shift.
3 Aug 2006director officer appointment● Neutral
Amended the prior day's 8-K to remove an erroneous paragraph describing a "Mark Lambert" appointment as chief operating officer effective January 24, 2005 - a date that predates the company's own May 2005 incorporation; the Kainth/Mohamed/Samson leadership changes themselves are otherwise unchanged.
2 Aug 2006director officer appointment● NeutralMajor
Co-founder Gurdeep Kainth resigned as director/secretary and Saleem Mohamed resigned as CFO; Gordon A. Samson (a 20-year finance/accounting professional) was appointed CFO, secretary and a director - the start of a leadership handover away from the original two founders.
12 Sept 2005other● Neutral
Requested SEC acceleration of the SB-2 registration's effective date to September 14, 2005, closing out the review process.
8 Sept 2005other● Neutral
SEC's follow-up round of comments on the amended SB-2 registration.
15 Aug 2005other● Neutral
SEC's first round of comments on the SB-2 registration, covering standard prospectus-disclosure issues (required legends, dilution and offering-price disclosure, and similar items).
