Past year: ▼ 100%(0.01c – 11.8c USD)
Each one in plain English, with the numbers worked through for a shareholder.
25 June 2021capital raising announcement● Neutral
The company issued 855,000 Series D preferred shares on June 14, 2021, for cash at par value and for services, without registering them with the SEC. The filing gives no price total or recipient names, so the dilution effect is not stated.
31 May 2019capital raising announcement● NeutralMajor
The company agreed to acquire producing oil and gas leases in Carbon and Fremont Counties, Wyoming from Looper Family Office and Quay View Partners in exchange for 100,000 new Series W preferred shares, and to lend the sellers $250,000 in two instalments. The filing states current production of about 160 barrels of oil per day and 810,000 barrels of oil equivalent of proved reserves. The preferred holders can elect a spin-out of the Wyoming subsidiary in which they keep 90% and common shareholders receive 10%, which is a dilution of common holders' stake in those assets. The company says it will stop being a shell company once the deal closes. (The body of the filing says the agreement was dated May 30, 2018, while the report date and press release say 2019; this looks like a typo.)
