Past year: ▲ 0%(0.01c – 0.01c USD)
Each one in plain English, with the numbers worked through for a shareholder.
23 July 2007substantial holder notice● Neutral
The Longview Fund, L.P., Longview Fund International, Ltd., Viking Asset Management, Ltd., Viking Asset Management, LLC, Peter Benz reported a Velocity Energy Inc. shareholding of 25,676,274 shares (66.60% of votes) in a periodic institutional filing.
20 June 2007director interest notice● Neutral
William Paul Dickie became a Velocity Energy Inc. director and company insider (initial ownership filing).
1 Feb 2007substantial holder notice● Neutral
Longview Fund L.P. disclosed a new substantial Velocity Energy Inc. shareholding (94.91% of votes).
8 Jan 2007capital raising announcement● NeutralMajor
On December 31, 2006 the company settled all principal and interest on the 2005 and 2006 convertible notes with the Longview funds by issuing 11,045,474 shares at $0.05, and released the security interests. It also issued 925,000 shares at $0.05 for warrant exercise, with the funds paying $46,250 in cash. This resolves the note financing but adds a large number of shares to existing holders' dilution.
7 July 2006material agreement● Neutral
On June 30, 2006 the note investors increased their purchase by $300,000 and the company issued new notes at the greater of prime plus 4% or 10%, which it may prepay at 110% of principal plus interest. This continues the 2005 financing with a larger amount and a higher interest floor than the original 8%.
5 June 2006material agreement● Neutral
On May 31, 2006 the company and the note investors extended the maturity of the 2005 convertible notes to May 23, 2007 and cut the warrant exercise price from $0.75 to $0.35. This continues the May 2005 financing and makes the warrants cheaper to exercise, which could add shares.
30 Mar 2006late filing notice▼ Bad
Velocity Energy Inc. notified the SEC that its annual report would be filed late.
21 Feb 2006substantial holder notice● Neutral
Longview International Equity Fund L.P. disclosed a new substantial Velocity Energy Inc. shareholding (10.80% of votes).
14 Feb 2006substantial holder notice● Neutral
Longview Fund L.P. reported a Velocity Energy Inc. shareholding of 4,395,561 shares (17.30% of votes) in a periodic institutional filing.
14 Feb 2006substantial holder notice● Neutral
Longview Equity Fund L.P. reported a Velocity Energy Inc. shareholding of 7,352,829 shares (28.90% of votes) in a periodic institutional filing.
9 Feb 2006asset acquisition disposition● Neutral
This amendment reports that on February 2, 2006 the December 2005 share exchange agreement was amended again to correct how shares were split among the three Longview funds. The total number of shares issued is unchanged.
6 Jan 2006business combination● NeutralMajor
On December 30, 2005 the company closed a share exchange to acquire 100% of River Capital Holdings Limited, a Barbados insurance holding company that the filing says has never conducted operations, issuing 19,135,820 shares to its shareholders (including Strategy International Insurance Group and the Longview funds). The company says it is no longer a shell, plans reinsurance through River Reinsurance Limited, and relies on an informal, not yet definitive, agreement with Strategy. Directors William Dickie and Eric Pinkney resigned, while Howard Taylor stays as director and CEO.
7 June 2005capital raising announcement● NeutralMajor
On May 31, 2005 the company agreed to sell up to $200,000 of secured convertible notes plus five-year warrants for 400,000 shares at $0.75 to accredited investors, to fund working capital. The notes run one year, pay the greater of prime plus 4% or 8%, convert at $0.50 a share and are secured on all company assets, so existing shareholders face possible dilution.
1 Apr 2005late filing notice▼ Bad
Velocity Energy Inc. notified the SEC that its annual report would be filed late.
31 Mar 2005auditor change● Neutral
River Capital Group hired De Meo, Young, McGrath of Fort Lauderdale, LLP on March 1, 2005 to audit its 2004 financial statements, replacing the auditor that resigned days earlier. The board approved the hire, and the filing says no prior consultation took place on accounting issues.
3 Mar 2005auditor change▼ Bad
The company, which filed under the name River Capital Group, Inc. (the earlier Velocity Energy filings appear to be under the same registrant, which is an inference from the shared filer record), said its auditor Sweeney, Gates & Co. resigned on February 28, 2005, with the board's approval. The auditor's report on the December 31, 2003 financials included a going-concern doubt, and the filing says there were no disagreements with the auditor.
27 Oct 2004substantial holder notice● Neutral
Longview Equity Fund L.P. disclosed a new substantial Velocity Energy Inc. shareholding (7.19% of votes).
14 Oct 2004substantial holder notice● Neutral
Longview Fund L.P. disclosed a new substantial Velocity Energy Inc. shareholding (7.19% of votes).
16 Aug 2004late filing notice▼ Bad
Velocity Energy Inc. notified the SEC that its quarterly report would be filed late.
17 May 2004late filing notice▼ Bad
Velocity Energy Inc. notified the SEC that its quarterly report would be filed late.
10 May 2004director interest notice● Neutral
Velocity Energy Inc. director Howard J Taylor received a stock option grant for 50,000 shares.
10 May 2004director interest notice● Neutral
Velocity Energy Inc. director Eric Deane Pinkney bought 20,000 shares on the open market at $0.50.
10 May 2004director interest notice● Neutral
Velocity Energy Inc. director Eric Deane Pinkney received a stock option grant for 50,000 shares.
30 Mar 2004late filing notice▼ Bad
Velocity Energy Inc. notified the SEC that its annual report would be filed late.
23 Oct 2003director interest notice● Neutral
Scott Lines became a Velocity Energy Inc. 10%+ owner and company insider (initial ownership filing).
21 Oct 2003director interest notice● Neutral
Velocity Energy Inc. director Eric Deane Pinkney disposed of 50,000 shares via option/appreciation-right settlement.
21 Oct 2003director interest notice● Neutral
Velocity Energy Inc. director Eric Deane Pinkney disposed of 50,000 shares via option/appreciation-right settlement.
16 Oct 2003director interest notice● Neutral
Devi Johal became a Velocity Energy Inc. Secretary and company insider (initial ownership filing).
30 Sept 2002late filing notice▼ Bad
Velocity Energy Inc. notified the SEC that its annual report would be filed late.
14 Nov 2001late filing notice▼ Bad
Velocity Energy Inc. notified the SEC that its quarterly report would be filed late.
