27 Aug 2008substantial holder notice● Neutral
Viking Investments Group LLC disclosed a new substantial VIKING ENERGY GROUP, INC. shareholding (50.10% of votes).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
21 Aug 2008director interest notice● Neutral
Xu Richard became a VIKING ENERGY GROUP, INC. President, Treasurer & Sec'y and company insider (initial ownership filing).
21 Aug 2008director interest notice● Neutral
Simeo Tom became a VIKING ENERGY GROUP, INC. Chief Executive Officer and company insider (initial ownership filing).
30 July 2008debt financing▼ Bad
Synthenol again could not repay its Hokley Limited notes (now $15,000, $35,000 and $30,000) on schedule and extended all three to year-end with a further 10% penalty.
11 July 2008asset acquisition disposition● Neutral
Synthenol assigned its 6% stake in a medical-device company, Thermal Ablations Technology Canada, to lender Hokley Limited in exchange for cancelling a $30,000 note -- settling debt with an asset rather than cash.
14 Apr 2008substantial holder notice● Neutral
T. Baulch disclosed a new substantial VIKING ENERGY GROUP, INC. shareholding (5.47% of votes).
7 Apr 2008asset acquisition disposition● Neutral
The company, renamed Synthenol Inc., sold two dormant gambling-related subsidiaries (Casino Marketing S.A. and 564448 BC Ltd., carrying ~$70,500 in liabilities) to Ryerson Corporation for $1, shedding the last remnants of the original poker/gambling business.
7 Mar 2008substantial holder notice● Neutral
Knight Equity Markets, L.P., formerly Knight Securities, L.P reported a VIKING ENERGY GROUP, INC. shareholding of 82,541 shares (11.28% of votes) in a periodic institutional filing.
26 Feb 2008debt financing▼ Bad
LegalPlay missed the December 2007 due date on its $35,000 Hokley Limited note and again paid a 10% penalty to extend it, deepening the same debt-servicing pattern.
12 Feb 2008substantial holder notice● Neutral
Knight Equity Markets, L.P., formerly Knight Securities, L.P disclosed a new substantial VIKING ENERGY GROUP, INC. shareholding (7.96% of votes).
11 Jan 2008debt financing▼ Bad
LegalPlay again could not repay its consolidated Hokley Limited notes (now $50,000) on their due dates and negotiated a further extension with a 10% penalty -- the fourth such rescue in under two years.
12 Dec 2007debt financing▼ Bad
LegalPlay borrowed a further $60,000 at 10% interest, the largest of its recurring small promissory notes to date.
4 Oct 2007debt financing▼ Bad
LegalPlay borrowed a further $30,000, this time at a steeper 10% interest rate (versus 5% on earlier notes), reflecting rising perceived credit risk.
2 Aug 2007debt financing▼ Bad
LegalPlay again failed to repay its Hokley Limited notes on time and negotiated another extension with a 10% penalty, continuing the same liquidity strain.
24 July 2007debt financing▼ Bad
LegalPlay borrowed a further $30,000 note and separately had to ask lender Hokley Limited to extend two earlier notes it could not repay on schedule, paying a 10% penalty -- an early sign the company was overextended.
17 May 2007debt financing▼ Bad
LegalPlay borrowed another $30,000 on a 12-month, 5% note -- the debt-rollover pattern continued.
7 May 2007asset acquisition disposition▼ Bad
The original poker-tech business line wound down for good: the 2003 Blue Diamond patent purchase was unwound by default in 2005, and LegalPlay sold its Skill Poker.com Inc. subsidiary to an individual for $1 in March 2006.
1 Mar 2007debt financing▼ Bad
LegalPlay borrowed a further $35,000 on a 12-month note at 5% interest, continuing a multi-year run of small promissory notes used to keep the shell funded.
20 Feb 2007debt financing● Neutral
LegalPlay outsourced its own administration, hiring Pelican Financial Corp and Impulse Advertising Inc. for a combined $7,500/month to handle SEC compliance, investor relations and bookkeeping -- consistent with a company with no real operating staff of its own.
15 Aug 2006late filing notice▼ Bad
VIKING ENERGY GROUP, INC. notified the SEC that its quarterly report would be filed late.
14 Aug 2006auditor change● Neutral
LegalPlay dismissed Amisano Hanson and hired Dale Matheson Carr-Hilton Labonte as auditor, continuing the shell's pattern of frequent accountant turnover.
15 May 2006late filing notice▼ Bad
VIKING ENERGY GROUP, INC. notified the SEC that its quarterly report would be filed late.
31 Mar 2006late filing notice▼ Bad
VIKING ENERGY GROUP, INC. notified the SEC that its annual report would be filed late.
15 Nov 2005late filing notice▼ Bad
VIKING ENERGY GROUP, INC. notified the SEC that its quarterly report would be filed late.
31 Aug 2005debt financing▼ Bad
LegalPlay signed a CDN$33,000 note payable to its own former auditor, Pannell Kerr Forster, for unpaid audit fees -- another sign the shell was chronically short of cash.
10 Aug 2005asset acquisition disposition▲ GoodMajor
The poker.com domain and trademark dispute was resolved: Communication Services Inc. paid $435,000 into trust to settle with LegalPlay and Uninet, and LegalPlay received $42,000 cash plus 250,000 of its own shares back.
11 July 2005debt financing▼ Bad
LegalPlay borrowed $10,000 as an advance against its still-pending Ala Corp settlement, a sign of tight cash while the poker.com domain dispute dragged on.
21 Mar 2005listing compliance notice▼ BadMajor
VIKING ENERGY GROUP, INC. deregistered its securities, ending its obligation to file reports with the SEC.
16 Feb 2005auditor change● Neutral
LegalPlay dismissed its auditor Pannell Kerr Forster (no dispute cited) and hired Amisano Hanson -- the first of what became a recurring pattern of small-shell auditor turnover.
18 Jan 2005substantial holder notice● Neutral
UNINET TECHNOLOGIES INC., MICHAEL JACKSON disclosed a new substantial VIKING ENERGY GROUP, INC. shareholding (22.90% of votes).