3 May 2011director interest notice● Neutral
VICTORY CLEAN ENERGY, INC. director Edgar Trotter received a stock option grant for 500,000 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 May 2011director interest notice● Neutral
VICTORY CLEAN ENERGY, INC. director Edgar Trotter received a stock option grant for 1,200,000 shares.
3 May 2011director interest notice● Neutral
VICTORY CLEAN ENERGY, INC. Chief Executive Officer Robert Miranda received a stock option grant for 1,200,000 shares.
3 May 2011director interest notice● Neutral
VICTORY CLEAN ENERGY, INC. Chief Executive Officer Robert Miranda received a stock option grant for 1,200,000 shares.
31 Mar 2011late filing notice▼ Bad
VICTORY CLEAN ENERGY, INC. notified the SEC that its annual report would be filed late.
23 Mar 2011director interest notice● Neutral
Edgar Trotter became a VICTORY CLEAN ENERGY, INC. director and company insider (initial ownership filing).
18 Mar 2011director interest notice● Neutral
Ronald Zamber became a VICTORY CLEAN ENERGY, INC. director and company insider (initial ownership filing).
2 Feb 2011capital raising announcement▼ BadMajor
Under an agreement dated Dec 31, 2010, Visionary Investments, whose sole member is director and major stockholder Ronald Zamber, swapped $497,000 of unsecured notes plus $55,275 of interest for a $552,275 10% secured convertible debenture due Sept 30, 2013. It converts at $0.005 per share into 110,455,000 shares, which would be a large dilution for current holders. It uses the same terms as the ongoing debenture offering.
1 Feb 2011capital raising announcement▼ BadMajor
On Jan 19, 2011 Victory sold six units for $60,000 to one accredited investor. Each unit was a $10,000 10% convertible debenture (due Sept 30, 2013) plus a warrant for 10,000 shares at $0.005. The debentures convert at $0.005 per share. This is part of an ongoing 75-unit offering (45.5 sold so far, ending by March 31, 2011 unless extended). With about 136.7 million shares outstanding, full conversion and exercise of this investor's securities would lift the total to 148,779,608, which dilutes existing holders.
25 Jan 2011auditor change▼ BadMajor
Victory's audit committee dismissed Hein & Associates on Jan 17, 2011 and hired Wilson Morgan, LLP. Hein, hired in March 2009, never began any audit or review work, and the filing reports no disagreements. The 2009 and 2010 financial statements had not been filed with the SEC.
24 Jan 2011director interest notice● Neutral
Stanley L Lindsey Jr. became a VICTORY CLEAN ENERGY, INC. VP EXPLORATION & DEVELOPMENT and company insider (initial ownership filing).
21 Jan 2011director interest notice● Neutral
Kenneth E Hill became a VICTORY CLEAN ENERGY, INC. VP & CHIEF OPERATING OFFICER and company insider (initial ownership filing).
5 Jan 2011material agreement● Neutral
This amended filing repeats the Padre Island option reported on Jan 4, 2011: a one-year option, for $25,000, to acquire an oil and gas lease from Santiago Resources and other optionors, with an option exercise price of $375 per net mineral acre. It adds that Tom McCall (Santiago) and his brother Dave McCall (1519 Partners) are both partners in The McCall Firm, Victory's Texas counsel that is prosecuting litigation for it. The option is not yet an acquisition.
4 Jan 2011material agreement● NeutralMajor
Victory signed a one-year option for $25,000 to acquire an oil and gas lease on a mineral interest on Padre Island, Texas, from Santiago Resources and other parties. The press release describes a roughly 1,000-acre tract with three shut-in gas wells, and a planned 100% working interest and 75% net revenue interest if the lease is taken. Some optionors are tied to The McCall Firm, which is Victory's Texas legal counsel and is prosecuting litigation for it. The option is not yet an acquisition, and the press release cites the Adams-Baggett gas wells in Ozona, Texas as existing production.
11 Aug 2009material agreement● Neutral
On Aug 4, 2009 Victory signed an agreement, effective Aug 1, with Miranda & Associates, owned by interim CEO and CFO Robert Miranda, to keep supplying an interim chairman/CEO, a CFO and advisory services. It replaces a Nov 15, 2008 agreement and pays Miranda $300 per hour plus expenses.
21 May 2009material agreement● NeutralMajor
Former CEO Jon Fullenkamp resigned from his posts under a May 15, 2009 separation agreement. The debt owed to him was cut from $1,014,000 to $500,000, to be repaid on a schedule, and he receives 10,000,000 shares owed under his 2005 employment agreement plus 1,000,000 shares in place of preferred stock that could not validly be issued. Director Ronald Zamber gets a five-year proxy to vote Fullenkamp's shares, and Fullenkamp must cooperate with a board committee investigation into matters the CFO raised on April 28, 2009. Robert Miranda now signs as CEO.
1 Apr 2009late filing notice▼ Bad
VICTORY CLEAN ENERGY, INC. notified the SEC that its annual report would be filed late.
23 Mar 2009auditor change▼ Bad
Victory ended John Kinross-Kennedy's role as auditor effective March 18, 2009 and hired Hein & Associates LLP the same day. His reports for 2005, 2006 and 2007 included going-concern warnings citing recurring losses; the filing reports no disagreements, and his letter was to follow by amendment.
14 Aug 2008late filing notice▼ Bad
VICTORY CLEAN ENERGY, INC. notified the SEC that its quarterly report would be filed late.
15 May 2008late filing notice▼ Bad
VICTORY CLEAN ENERGY, INC. notified the SEC that its quarterly report would be filed late.
28 Mar 2008late filing notice▼ Bad
VICTORY CLEAN ENERGY, INC. notified the SEC that its annual report would be filed late.
7 May 2007late filing notice▼ Bad
VICTORY CLEAN ENERGY, INC. notified the SEC that its quarterly report would be filed late.
2 Apr 2007late filing notice▼ Bad
VICTORY CLEAN ENERGY, INC. notified the SEC that its annual report would be filed late.
30 Mar 2007director interest notice● Neutral
Perrry R Mansell became a VICTORY CLEAN ENERGY, INC. director and company insider (initial ownership filing).
17 Nov 2006director interest notice● Neutral
Virgin Family Trust, Dtd became a VICTORY CLEAN ENERGY, INC. 10%+ owner and company insider (initial ownership filing).
17 Nov 2006director interest notice● Neutral
Carl Burhanan became a VICTORY CLEAN ENERGY, INC. director and company insider (initial ownership filing).
15 Nov 2006security holder rights change● NeutralMajor
Now called Victory Energy Corporation, the company carried out a 25-for-1 reverse stock split effective Nov 10, 2006: every 25 old shares became one new share. Options, warrants and convertible notes were adjusted proportionately, and fractional shares were rounded up. Shareholders hold fewer shares after the split; the filing does not say what it does to the value of their holdings.
11 Aug 2006late filing notice▼ Bad
VICTORY CLEAN ENERGY, INC. notified the SEC that its quarterly report would be filed late.
12 May 2006late filing notice▼ Bad
VICTORY CLEAN ENERGY, INC. notified the SEC that its quarterly report would be filed late.
29 Mar 2006late filing notice▼ Bad
VICTORY CLEAN ENERGY, INC. notified the SEC that its annual report would be filed late.