Each one in plain English, with the numbers worked through for a shareholder.
13 July 2012auditor change● Neutral
On July 10, 2012 the company dismissed its auditor Weinberg & Baer LLC and hired Rothstein Kass. The filing says there were no disagreements and gives the reason as the oil and gas business plan. Weinberg's earlier reports included a going-concern doubt.
This amends the May 2012 share exchange report. It restates the same terms: 33,478,261 shares and warrants for 6,764,856 shares at $0.50 for three years. It gives the closing date as May 20, 2012 (the original said May 10), and says the name changed from Baby All Corp. to Santa Fe Petroleum, Inc. on May 17, 2012. It describes the main asset as an unevaluated oil and gas property in Comanche County, Texas, and says Griffin, Hall and Nelson together own 72.2% of the stock. It also says the earlier infant medicine dispenser business plan never began operating.
Shell company Baby All Corp. (the registrant that later became Santa Fe Petroleum, Inc.) took over Santa Fe Operating, Inc. (SFO), an oil and gas exploration company, in a share exchange dated May 10, 2012. Former SFO holders received 33,478,261 shares (about 84.8% of the 39,478,261 shares outstanding) plus warrants for 6,764,856 shares at $0.50. The filing says control changed, with Tom Griffin as chairman and president and Bruce Hall as CEO and CFO. It also describes a planned private placement of up to $5.0 million at $0.50 per share, with none raised yet, and 'Land Bank' lease arrangements with entities tied to Mr. Griffin, which the company must buy out within 20-24 months. This starts the oil and gas story and replaces the earlier shell-company registration history.