9 Dec 2010listing compliance notice▼ BadMajor
SAXON CAPITAL GROUP INC deregistered its securities, ending its obligation to file reports with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Dec 2007capital raising announcement▼ BadMajor
USA Superior settled out of the troubled Golden Gate financing, paying $200,000 cash and replacing the $2.5 million debenture with a much smaller $625,000 debenture at deeply discounted conversion terms.
30 Nov 2007capital raising announcement▼ BadMajor
USA Superior signed a $2.5 million secured convertible debenture with Golden Gate Investors, but received only $200,000 cash upfront plus a $2.3 million promissory note back from Golden Gate rather than full funding -- and was already negotiating a settlement of the deal by the time it disclosed it.
31 May 2007debt financing▼ Bad
CEO G. Rowland Carey personally loaned the company $40,000 on a 90-day note just weeks after the merger closed -- an early sign of a thin treasury.
14 May 2007capital raising announcement▲ Good
USA Superior raised $1.0 million in a private placement of stock-and-warrant units to accredited investors to fund its new energy business.
27 Mar 2007auditor change▼ Bad
The newly renamed USA Superior Energy Holdings dismissed auditor Kyle L. Tingle, CPA -- whose reports had flagged going-concern doubt for 2004 and 2005 -- and engaged Larry O'Donnell, CPA.
9 Feb 2007business combination● NeutralMajor
Following the merger, USA Superior's shareholders took control of the renamed company: their 34 million shares represented 64.9% of the stock, CEO Daniel Brailey resigned, and G. Rowland Carey, Jerry Witte and Paul Eads took over as president/directors.
17 Jan 2007business combination▲ GoodMajor
Nevada shell Comlink Communications reverse-merged with USA Superior Energy, issuing 34 million shares for 100% of USA Superior and adopting a new energy-industry business plan.