31 Mar 2021listing compliance notice▼ BadMajor
Tiger Oil & Energy, 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.
8 July 2019material agreement● Neutral
On June 27, 2019 the company agreed to pay OMR Drilling and Acquisition, LLC $20,000 for a 100% working interest and 87.5% net revenue interest in the Upchurch lease and one oil well in Clinton County, Kentucky. OMR is appointed to manage and operate the lease and well. The filing is signed by Howard Bouch as President, not Kenneth Liebscher, and shows a different IRS number from earlier filings. The filing does not explain either change.
8 Mar 2018capital raising announcement▼ BadMajor
On January 22, 2018 the company agreed with Adar Bays to sell seven convertible notes totaling $300,000 at 8% interest, all maturing January 22, 2019. The first note is $75,000, funded that day less $3,750 in legal fees, and six further $37,500 notes are to be funded monthly from August 22, 2018, each less $2,000 in legal fees. The notes convert after 180 days at 50% of the lowest closing bid price over a 20-day period (40% if a DTC 'chill' applies), so conversions could dilute shareholders heavily. The terms include default interest of 24% and other penalties. The text is cut off, and the filing's Item 4.01 reference is not covered in the text shown.
15 Nov 2017auditor change▼ Bad
The board dismissed Pinaki & Associates on October 26, 2017, the same day the PCAOB revoked Pinaki's registration for violating its rules in audits of four other clients' 2014 financial statements. The filing says Pinaki's reports had no adverse opinion or disagreements. No replacement auditor is named, and the Pinaki and Sadler Gibb letters to the SEC were still to be filed.
13 Apr 2017auditor change● Neutral
Auditor Sadler Gibb said it resigned on January 1, 2017, and the company engaged Pinaki & Associates, LLC on April 10, 2017 (the filing says for the year ending December 31, 2016). The filing says Sadler Gibb's reports for 2014 and 2015 had no adverse opinion and there were no disagreements. This replaces the auditor engaged in 2009.
24 Dec 2013material agreement● NeutralMajor
The company says it has a commitment from Chancery Lane Investment Group, Inc. for the $600,000 needed for the Cowley County drilling with TOTO Energy. It would receive three tranches of $200,000 on a callable convertible note at 5% interest for one year. The investor can keep receiving interest or have the company issue shares at $0.50 each to retire the debt, so shareholders could be diluted. This addresses the funding question left open in the earlier Cowley County filing.
12 Dec 2013material agreement▲ GoodMajor
The company signed an election to take part in the first of three wells with TOTO Energy LLC in Cowley County, Kansas, earning a 30% working interest and a 24.45% net royalty interest. The first well's cost rose to $630,000 because of cold weather, so the company's 30% share is $189,000, with work planned for early spring. TOTO is the operator. This moves the Cowley County drilling thread forward, but the filing does not say how the $189,000 will be funded.
29 Aug 2013material agreement▼ Bad
The company reports that the trust that sold it two non-producing Kansas wells (Whitley #1 and #2, agreed April 6, 2011 for a total of $1,000) gave notice on August 21, 2013 that the leases had expired because of lack of activity on the property. This ends the Whitley wells, a small purchase that is not in the earlier asset list, so the company no longer holds them.
5 Mar 2012asset acquisition disposition● Neutral
A seventh amendment to the Jett Rink acquisition report, with the same content as the earlier amendments: the October 29, 2010 closing, the Creek County, Oklahoma shut-in wells, the Southern Kansas leases (81.5% working interest, bought for a note and 250,000 shares), and the Ness County wells bought for $1,000. It still says $400,000 is needed to restart the Kansas wells and no funding agreement has been signed. The text shown adds no new transaction or figure, and a risk factors section follows (the text is cut off).
2 Feb 2012asset acquisition disposition● Neutral
A further filing of the sixth amendment on the same day, with text that matches the other February 2 filing. It carries no new transaction, figure or change from the earlier version, and the funding for the Kansas wells remains unresolved.
2 Feb 2012asset acquisition disposition● Neutral
Another filing of the sixth amendment to the Jett Rink report, apparently a re-filing of the January 23 version, with the same text: October 29, 2010 closing, shut-in Oklahoma wells, Southern Kansas leases, $1,000 Ness County wells, and the $400,000 funding need with no agreement. It adds no new facts in the text shown.
23 Jan 2012asset acquisition disposition● Neutral
A sixth amendment to the Jett Rink report, filed under a plain 8-K form type but headed 'Form 8-K/A 6'. The business description is the same as the fifth amendment: the October 29, 2010 closing, shut-in Oklahoma wells, the Southern Kansas leases at 81.5% working interest bought for a note and 250,000 shares, and the $1,000 Ness County wells. The Montana sentence seen in the fifth amendment does not appear in the text shown, and no new transaction or figure is added. The $400,000 funding need is still unmet.
13 Oct 2011asset acquisition disposition● Neutral
A fifth amendment to the Jett Rink acquisition report. It keeps the October 29, 2010 closing date and the statement that the company ceased to be a shell company. It repeats that the Montana project could not be completed, that the Oklahoma wells are shut-in, that about $400,000 is needed to restart the Kansas wells with no funding agreement yet, and that the Ness County wells were bought at auction for $1,000 cash. The text shown adds no new transaction.
21 Sept 2011asset acquisition disposition▼ BadMajor
A fourth amendment states the company attempted to acquire the Montana project but was unable to complete the transaction, resolving the earlier Montana thread negatively. It says the Oklahoma wells are shut-in and will be evaluated against restart cost, that about $400,000 is needed to put the Kansas wells back into production, and that no funding agreement has been signed. Further programs would need private placements.
23 Aug 2011asset acquisition disposition● NeutralMajor
A third amendment replaces the Montana plan with a list of smaller properties: two shut-in wells on about 50 acres in Creek County, Oklahoma (no revenue); three Southern Kansas leases totaling 400 acres bought on February 9, 2011 for a note and 250,000 shares, with an 81.5% working interest; and two shut-in oil wells in Ness County, Kansas bought at auction for cash on March 31, 2011. The Montana project is no longer described, and no price for the Kansas leases is given beyond the note and shares.
4 May 2011asset acquisition disposition● Neutral
A second amendment to the Jett Rink report that changes the stated closing date from September 28, 2010 to October 29, 2010, which contradicts the date given in the earlier filings. The Montana project description and the shell-company status statement are otherwise repeated unchanged.
28 Jan 2011asset acquisition disposition● Neutral
An amended version of the earlier report on the Jett Rink acquisition: the company (formerly UTEC) acquired Jett Rink Oil, LLC from Bill Herndon for about 10,000,000 shares, with the closing stated here as September 28, 2010. It repeats management's Montana (Kevin-Sunburst Dome) plan, which is a target and estimate, not a result, and restates that the company ceased to be a shell company. No new transaction is added; the share issuance dilutes existing holders (inference).
19 Nov 2010material agreement▲ GoodMajor
On October 27, 2010 the company signed an agreement with Black Hawk Exploration (BHWX) and Tiger Oil & Gas, LLC to jointly develop oil and gas leases of about 2,553 gross acres in Cowley County, Kansas, with Tiger LLC as operator. Black Hawk paid the company a $40,000 commission, and the company can earn a 40% working interest in the #1 Baker well by investing $400,000 in a drilling program.
4 Oct 2010asset acquisition disposition● NeutralMajor
On September 28, 2010 the company, now named Tiger Oil and Energy, Inc. (formerly UTEC), closed its purchase of Jett Rink Oil, LLC, a Kansas oil and gas company, from its sole owner Bill Herndon for 10,000,000 new common shares. The filing says the company is no longer a shell company and describes a plan for a Montana (Kevin-Sunburst Dome) project; these are management's targets and estimates, not results. Existing shareholders are diluted by the new shares (inference from the share issuance).
10 Nov 2009auditor change● Neutral
This amendment corrects the new auditor's name to Sadler, Gibb & Associates, LLC (the earlier filing said Sadler, Jones) and attaches Seale and Beers' letter to the SEC. It confirms Seale and Beers did not provide any financial statements.
4 Nov 2009auditor change● Neutral
On November 2, 2009 the company engaged Sadler, Jones & Associates, LLC as its auditor in place of Seale and Beers, which the filing says never performed any work for the company. This is the third auditor named since April 2009; the firm's name is corrected in the next filing.
2 Sept 2009auditor change● Neutral
This amendment restates the August 2009 switch from Moore & Associates to Seale and Beers with added no-disagreement wording. It now says the company could not obtain the confirming letter from Moore, contradicting the original filing's statement that the letter was attached.
12 Aug 2009auditor change▼ Bad
Moore & Associates, the auditor appointed only weeks earlier, ceased operations as of August 7, 2009, and on August 11 the company engaged Seale and Beers, CPAs as its new auditor. The filing notes the 2008 annual report's financial statements carried a going concern qualification, and attaches a letter from Moore.
27 July 2009auditor change● Neutral
This amendment repeats the July 20 auditor change (Moore & Associates replacing Cole & Reed) and adds the Cole & Reed letter to the SEC as an exhibit, which the original filing lacked. No new facts about the change itself are stated in the text.
22 July 2009auditor change● Neutral
On July 20, 2009 the board appointed Moore & Associates, Chartered as auditor for 2009, replacing Cole & Reed LLP, whose dismissal is stated as effective April 1, 2009. The filing says Cole & Reed's reports had no adverse opinion and there were no disagreements; Cole & Reed's confirming letter was not yet available.
4 May 2009material agreement● NeutralMajor
The company (then named UTEC, Inc.) agreed on April 30, 2009 to sell all its assets to Energetic Systems Inc. LLC, except the Ceramatec Agreement and the waste destruction business built on that technology. In payment, Energetic Systems will return the 22,500,000 UTEI common shares it holds.
14 May 2008listing compliance notice▼ Bad
Tiger Oil & Energy, Inc. withdrew a registration statement, abandoning the offering it covered.