IDNG - IDGlobal Corp. SECURITY DETAILS
Independence Energy Corp. is a fully reporting SEC company, publicly traded on the OTC Market under the symbol, "IDNG", and within the OTCQB market tier. As such, Business, Operational, and Financial information on IDNG is fully transparent and available to public view. Visit: http://www.otcmarkets.com/stock/IDNG/company-info
to see complete details. Independence Energy Corp. is Active on the Nevada Secretary of State site: http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=CBwSAwKRC3a4pW%252bE3xV7Sw%253d%253d&nt7=0 A/S:
375 Million - per state of Nevada active status O/S:
345 Million - as of 4/28/14 Float: 60 Million
Insiders Own 280 Million.
8-k April 2nd, 2014 - http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9899825
8-k April 15th, 2014 - http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9920411
From 8-K April 2nd: Asset Purchase Agreement with American Medical Distributors, LLC
On March 31, 2014, Independence Energy Corp. (“we”, “us”,“our”) entered into and closed an Asset Purchase Agreement (the “Agreement”) dated for reference March 31, 2014 with American Medical Distributors, LLC (“AMD”). Pursuant to the agreement we have acquired from AMD all right, title and interest of AMD in and to a certain distribution contract (the “HuBDIC Agreement”) dated November 27, 2013 with HuBDIC Co. Ltd. (“HuBDIC”), a Korea corporation, pursuant to which AMD has been granted the exclusive right to distribute in the Americas certain professional and consumer grade non-touch thermometers known as the FS700 Pro and FS-700 (retail version), and any future versions.
The material terms of the HuBDIC Agreement are as follows: (a) term of 5 years from November 7, 2013; (b) subject to FDA approval of the HuBDIC products, which is anticipated, we are required to purchase a minimum of 3,000 product units for re-sale during year 1 of the distribution period, 8,000 during year 2, and 15,000 during each subsequent year; (c) a $10,000 distribution fee paid to HuBDIC by AMD will be credited toward the first product order; and (d) the deposit is refundable to us at our election, and we may terminate the HuBDIC Agreement in the event FDA approval is not granted by April 26, 2014. The maximum HuBDIC may charge IEC for the product is $19.99 per unit.
THIS ASSET PURCHASE AGREEMENT (this " Agreement
") made as of March 31, 2014 (the " Effective Date
"), by and between American Medical Distributors, LLC, an New York limited liability company, with an address at 265 Sunrise Highway, Ste. 62, Rockville Centre, New York 11570 (“ AMD
”), and Independence Energy Corp., a Nevada corporation, with an address at 3020 Old Ranch Parkway, Ste 300, Seal Beach CA 90740 (“ IEC
AMD FINANCIAL STATEMENTS. AMD acknowledges that IEC shall be required, within 71 days of the Closing Date, to file with the Securities and Exchange Commission consolidated and pro-forma financial information
of IEC incorporating the financial information of AMD. Accordingly, AMD shall provide to IEC, within 35 days following the Closing, financial statements
of AMD prepared in accordance with GAAP, and which shall include the audited balance sheet of AMD dated as of the most recent fiscal year end of AMD
, together with related statements of income, cash flows, and changes in shareholder’s equity for the most recent fiscal year end of AMD and the unaudited balance sheet of AMD dated as of the end of the most recently completed financial quarter of ARM (the “ AMD Accounting Date
”), together with related statements of income, cash flows, and changes in shareholder’s equity for the interim period ended on the AMD Accounting Date.
Company Overview Website
In General... 1. An 8-K disclosing AMD's financials is anticipated to come out based on the 8-K on April 2nd.
This "Asset Purchase Agreemtent" looks more like a reverse merger. Read it and draw your own conclusion.
2. Through the AMD distribution contract, IDNG is to buy a minumum of 56,000 devices.
3. These divices retail at $130. That means IDNG stands to gross $7,280,000 and make a net 550.3% gain on money spent.
There is a lot more to this filing, read it and see.
In order to create optimum potential for exploratory drilling and future growth, we are working to create a technical group of experts within the industry of oil and gas.
This group will find leads for profitable investments including producing wells and income-generating properties. By capitalizing on long withstanding relationships with producers of oil and gas, in conjunction with drawing on the knowledge of our partners and advisors in financial and energy markets, we plan to build a vast portfolio of proven oil and natural gas assets. We plan to emerge as a top US energy company. Management
- http://www.independenceenergycorp.com/management Projects Quinlan Wells Read More
The Quinlan #1 was originally open hole completed in the 1st Wilcox Sandstone from 4,778' to 4,782' (T.D). for 334 BO in 15 hours and no water. The Simpson Dolomite from 4,742' to 4,750' and the Viola Limestone from 4,726' to 4,732' were tested several years later.
Later production from the Quinlan #1 was documented producing an oil cut from 8 - 15%, (i.e. 100 barrels of total volume = 8 to 15 barrels are oil) on a daily basis from the 1st Wilcox Sandstone (Primary Objective), Viola Limestone and Simpson Dolomite (Second Objective). Finally, the Hunton Limestone formation was perforated and produced on a forty acre spacing pattern and was also perforated in the Quinlan #2.
Since November 2009 when the well was purchased by Nitro Petroleum Inc., the Quinlan #1 has produced 13,946 barrels of oil from the Hunton Limestone. Several other fields in the area producing from the Hunton Limestone would alone in this wellbore produce enough oil to pay out the complete project. Montcrest Drill Project Read More
Independence Energy has a turnkey 5% Working Interest in the highly prospective MontCrest Energy Drilling Program #3 in Coleman County, Texas (the "MontCrest Drill Program").
Coleman County has a long history of oil and gas production. The oil was first discovered there in 1908, near the town of Trickham. In 1948, oilfields in Coleman County produced over 1,000,000 barrels.
The MontCrest Drill Program consists of a turnkey participation in two exploration wells targeting multiple oil bearing sand formations currently productive in the region. MontCrest Energy Inc. ("MEI"), the project operator, has significant exploration experience in the immediate area.
(Please note the share structure posted is what we have gathered but can change on a daily basis. Contact the Company or Transfer agent to get the most current information.) Their latest 10-Q Quarterly Report:
Filed on 12/17/12 ~ For the period ending 10/31/12 http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8972652 Incorporated In:
Nevada in 2012 Transfer Agent:
Holladay Stock Transfer
2939 N. 67th Place
Scottsdale, AZ 85251
Phone: 480-481-3940 Disclaimer
- The following Press Releases have not been investigated by Sizzling Stock Picks, therefore we have no idea if the content of this news is based on Fact or Fiction. Although the links for the following press releases may be from a familiar and reputable company, you should NOT assume that a press wire hosted by a website you are familiar with is accurate just because it is on their site. Sizzling Stocks Picks will not be held responsible for any news release including and not limited to misleading or non-factual content, or the accuracy of the identity of the given source of the press release. Marketwire - (March 5) Independence Energy Set to Complete Large-Scale Oil and Gas Exploration Land Acquisition in Texas http://finance.yahoo.com/news/independence-energy-set-complete-large-133000601.html Marketwire - (July 12) UPDATE: Independence Energy Corp. Announces Additional Upgrades at Quinlan Lease Oil Property in Oklahoma http://finance.yahoo.com/news/independence-energy-corp-announces-additional-133800637.html Marketwire - (July 12) Independence Energy Corp. Announces Additional Upgrades at Quinlan Lease Oil Property in Oklahoma http://finance.yahoo.com/news/independence-energy-corp-announces-additional-100000423.html Contact Us:
Independence Energy Corp.
3020 Old Ranch Parkway
Seal Beach, CA 90740