15 May 2012quarterly activities report▼ Bad
Surge Global Energy, Inc. reported a quarterly net loss of $78 thousand for the period ended 2012-03-31.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
23 Feb 2012material agreement termination▲ Good
The Asher convertible note was terminated - Surge got out of the toxic loan before its conversion feature could bite, which for a shell with almost no cash was the better outcome.
25 Jan 2012material agreement▼ Bad
Surge dealt with the $300,000 it had sunk into the Pawnee County wells, which were never going to repay it through production as the Mandalay settlement envisaged. The Oklahoma venture, like the Nevada one, produced nothing.
13 Dec 2011director interest notice● Neutral
David A Rapaport became a Surge Global Energy, Inc. director and company insider (initial ownership filing).
14 Nov 2011quarterly activities report▼ Bad
Surge Global Energy, Inc. reported a quarterly net loss of $58 thousand for the period ended 2011-09-30.
30 Sept 2011director officer appointment▼ BadMajor
Surge borrowed $45,000 from Asher Enterprises on an 8% note convertible at a 40% discount to the lowest recent trading prices - the classic toxic convertible, whose conversion price falls as the shares fall. A company that once raised $1.8 million at $1.50 was now funding itself in $45,000 instalments on those terms.
18 Aug 2011quarterly activities report▼ Bad
Surge Global Energy, Inc. reported a quarterly net loss of $264 thousand for the period ended 2011-06-30.
16 Aug 2011late filing notice▼ Bad
Surge Global Energy, Inc. notified the SEC that its quarterly report would be filed late.
18 May 2011director interest notice● Neutral
Bruce N. Gallo became a Surge Global Energy, Inc. director and company insider (initial ownership filing).
16 May 2011quarterly activities report▼ Bad
Surge Global Energy, Inc. reported a quarterly net loss of $110 thousand for the period ended 2011-03-31.
5 May 2011director interest notice● Neutral
Steven L Vanechanos Jr. became a Surge Global Energy, Inc. director and company insider (initial ownership filing).
14 Apr 2011director interest notice● Neutral
Surge Global Energy, Inc. 10%+ owner Mark C Fritz bought 500,000 shares on the open market.
14 Apr 2011substantial holder notice● Neutral
Mark C. Fritz reported a Surge Global Energy, Inc. shareholding of 4,112,500 shares (11.10% of votes) in a periodic institutional filing.
31 Mar 2011late filing notice▼ Bad
Surge Global Energy, Inc. notified the SEC that its annual report would be filed late.
10 Mar 2011substantial holder notice● Neutral
David McGuire disclosed a new substantial Surge Global Energy, Inc. shareholding (0.00% of votes).
27 Jan 2011asset acquisition disposition▼ BadMajor
The SEC-Compliance purchase was unwound three months after it closed, effective 31 December 2010: founder David McGuire resigned from the board, returned his 5,000,000 shares for cancellation and took the business and its liabilities back. Surge paid him a further $10,000 and said it expected to recover the roughly $95,000 already paid out of shares in another company due to it under the rescission.
22 Dec 2010director interest notice● Neutral
Surge Global Energy, Inc. director Fred B Zaziski disposed of 800,000 shares via option/appreciation-right settlement.
3 Dec 2010material agreement▼ Bad
Schloss's contract was extended four months, with $10,000 of salary payable in Andora shares and his own cash loans to Surge convertible into Andora shares at $0.60. The chief executive was lending the company money and being repaid in its last real holding.
15 Nov 2010quarterly activities report▼ Bad
Surge Global Energy, Inc. reported a quarterly net loss of $236 thousand for the period ended 2010-09-30.
2 Nov 2010auditor change▼ Bad
Surge dismissed GBH CPAs, whose 2009 opinion had questioned whether the company could continue, and engaged sole practitioner Peter Messineo of Palm Harbor, Florida - a marked step down in the size of firm auditing the accounts.
12 Oct 2010substantial holder notice● Neutral
David McGuire disclosed a new substantial Surge Global Energy, Inc. shareholding (13.10% of votes).
12 Oct 2010director interest notice● Neutral
Surge Global Energy, Inc. President SEC Compliance Inc. David Mcguire received a stock option grant for 400,000 shares.
6 Oct 2010director officer appointment▼ BadMajor
Surge, an oil company, agreed to buy SEC-Compliance Inc - a two-month-old business that formats other companies' regulatory filings - for 5 million shares and $100,000, and hired its founder. This is not a pivot within the industry; it is abandoning it, and it would be unwound within four months.
6 Oct 2010director interest notice● Neutral
David Mcguire became a Surge Global Energy, Inc. President SEC-Compliance Inc. and company insider (initial ownership filing).
16 Aug 2010quarterly activities report▼ Bad
Surge Global Energy, Inc. reported a quarterly net loss of $672 thousand for the period ended 2010-06-30.
10 June 2010material agreement● Neutral
Two settlements in one filing: Surge recovered $100,000 from insurer XL Specialty for legal costs in the Dynamo cases, and compromised with Mandalay over the Oklahoma equipment lease that had already failed to deliver. Surge's activity was now almost entirely litigation cleanup.
17 May 2010substantial holder notice● Neutral
Barry Nussbaum reported a Surge Global Energy, Inc. shareholding of 1,824,117 shares (5.30% of votes) in a periodic institutional filing.
17 May 2010late filing notice▼ Bad
Surge Global Energy, Inc. notified the SEC that its quarterly report would be filed late.
13 May 2010director interest notice● Neutral
Surge Global Energy, Inc. insider Jeffrey Lewis Bernstein disposed of 400,000 shares via option/appreciation-right settlement.
13 May 2010director interest notice● Neutral
Surge Global Energy, Inc. insider Kenneth Polin disposed of 400,000 shares via option/appreciation-right settlement.