VICTORY CLEAN ENERGY, INC.

2 Mar 2005material agreement● NeutralMajor

Now named Victory Capital Holdings (formerly New Environmental Technologies), the company signed a deal on Feb 21, 2005 to buy all of Universal Power Vehicles, an electric-vehicle and lightweight-alloy technology developer owned by Howard Foote. In return Foote would receive 20% of the common stock of Victory Energy, Inc., a wholly-owned subsidiary. Closing depended on conditions and was expected within about two weeks. This continues the 2003 plan to buy assets outside oil and gas.

Discuss in chat

22 Apr 2003asset acquisition disposition● NeutralMajor

New Environmental Technologies Corporation (the company that later became Victory) changed hands in April 2003. Harold Gregg became interim CEO, David and Corie Merrell resigned, and the largest shareholder, Chiricahua Investments, agreed to sell 2,002,895 shares to IPIC, Inc. for $211,302.50, while other sellers agreed to sell 276,182 shares to CTSO, Inc. for $63,697.50. The company said it would now seek income-producing assets in technology, real estate and entertainment, with a possible name change and extra capital needs to be advised by officers.

Discuss in chat