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SRGG registration revoked:
https://www.sec.gov/litigation/admin/2019/34-85594.pdf
SRGG SEC Suspension for delinquent Financials/Filings:
https://www.sec.gov/litigation/suspensions/2017/34-81299.pdf
Order:
https://www.sec.gov/litigation/suspensions/2017/34-81299-o.pdf
Admin Proceeding:
https://www.sec.gov/litigation/admin/2017/34-81298.pdf
YOU WRITE THAT ON EVERY SINGLE MESSAGE BOARD!! ARE YOU RETARDED???
Hola Surge, como esta? Esta lista a corra fuerte?
Good news!!!........
http://www.surgeenergy.ca/en/sgy_presentation_october_22_2013_final.pdf
What's the story here? Low float and volume? Big jump in PPS this month but no activity here?
Item 1.01 Entry into Material Definitive Agreements.
On August 1, 2013, the Company (“Surge”) concluded the purchase of a 32% working interest (27.20 net revenue interest) from Padgett Energy, LLC, as operator of the Padgett/Danco 2013-A Joint Venture. The purchase price of the acquisition was $211,300. The property consists of a 170.80 acre tract of land located in Muhlenberg County KY on which two producing oil wells are currently producing about 20 bbls of oil per day (gross) and about 5.4 bbls/day(net) to Surge’s net revenue interest. The purchase agreement provided that the purchase price of $211,300 paid by Surge includes the two producing wells, a third well to be drilled and completed within the next 30 days, and two additional wells to be drilled after well #3 is completed. Surge will be obligated for approximately $29,167 for the completion costs for wells #4 and #5 in the event that completion of one or both of these wells is warranted. Padgett Energy, LLC will be the operator of all five wells on the lease.
going to mod this one...I think it's getting close
when is this beast going to run? think ill put one in at .05 and see if i can get some
SRGGD Surge Global Energy, Inc. > SRGG Surge Global Energy, Inc.
a/o 3/22/13
What are your thoughts here brother? Didn't know they were going into an RS..... Where do you see this stock headed? I had this pop up on my radar and have not done a whole lot of DD. I HEARD THEY WERE GOING TO PARTNER OR GET BOUGHT OUT BY A PARTICULAR COMPANY. But why get a reverse split if they are going to,do that?
SRGG one for 20 reverse split:
http://www.otcbb.com/asp/dailylist_detail.asp?d=02/21/2013&mkt_ctg=NON-OTCBB
Very Interesting...
Happy Holidays Plano - I thought that you may have forgot about looking into this.
I appreciate it.
I've been holding SRGG for many moons - I think too many sometimes lol
At this point I think I'll just keep holding and hope that they roll a holdings company into this puppy.
The last couple months of trading has peaked my I interest to say the least.
Thanks again and please take care !
http://www.thefitzgroup.net/residential.php
The Fitzgerald Group, along with its clients, own, operate and manage over 150 million dollars worth of assets. Including but not limited to: hotels, office buildings, shopping centers, a cemetery and mausoleum, flea market, sand and gravel quarry, raw land, commercial and residential real estate, hospitality management and commercial developments. FYI :)
you recall correctly...clean. We know nothing about the new guys though...going to research more tommorow
After the hits there was 900,000 on the bid @ .008.
Clean shell with new owners if I recall correctly
is right
I's wait to till after the split.
ya, no idea what they are bringing in.
1-20 R/S increasing after the R/S and a increase in share structure afterwards?
interesting gamble
They paid off the liabilities so SRGG will be a clean shell. Unknown at this time what new assets (if any) may come in there with the new ownership.
they sold the company looks like...still reading...1-20 RS too comming
In addition, the Company used approximately $82,765 of such proceeds to extinguish its liability to Asher Enterprises, Inc. pursuant to the Convertible Promissory Note in the principal amount $60,000 issued on May 25, 2012 otherwise due in December 2012. The $100,000 balance will be used for payment of the Company’s operating expenses and for working capital on, and after, the initial closing date.
The Company intends to effect a 1 for 20 reverse split and a concurrent increase to 400,000,000 in the authorized and unissued shares of Common Stock of the Company in the near future. The Buyers have agreed to buy 3,216,260 additional shares of Common Stock of the Company for an aggregate purchase price of $100,000 thereafter (such date of purchase, the “subsequent closing date”). After the sale and issuance of these additional shares, the Buyers will own approximately 85% of the Company’s Common Stock. The additional funds will be available for payment of the Company’s operating expenses and for working capital.
On the initial closing date, each of Charles V. Sage, Edwin J. Korhonen, Warren M. Dillard and Steven L. Vanechanos resigned as a director of the Company and E. Jamie Schloss resigned as Chairman of the Board, President and Chief Executive Officer of the Company. In addition, on the initial closing date, Clark Morton II became a director, Chairman of the Board and Chief Executive Officer, William E. Fitzgerald became President, William A. Fitzgerald became Senior Vice President and Carol A. Fitzgerald became Secretary of the Company. It is expected that William E. Fitzgerald and William A. Fitzgerald will become directors of the Company.
The parties agreed that the Company would contribute approximately 2,886,000 shares of common stock of Andora held by it to its wholly-owned subsidiary, Cold Flow Energy ULC, an Alberta corporation (“Cold Flow”), or a newly-formed wholly-owned subsidiary, Surge Holding Co., a Delaware corporation (either or both, the “Holding Company”). The Buyers and the Company have agreed that the Holding Company and the Andora Shares will not be disposed of by the Company for any purpose until the later of (i) April 30, 2014 or (ii) 180 days after the subsequent closing date (the “Distribution Date”). This restriction on the time period for the disposition of the Andora Shares or of the Holding Company may be waived in the event that the value of the total non-cash assets of the Company exceeds the value of the Andora Shares. Three of the Company’s current directors, Charles V. Sage, Edwin J. Korhonen and E. Jamie Schloss, were appointed directors of the Holding Company and Messrs. Sage and Schloss were appointed officers of the Holding Company. The Buyers and the Company have agreed that such persons shall remain in such roles through the Distribution Date.
On the Distribution Date, the Company will distribute the shares of the Holding Company (or the Andora Shares) or a liquidating dividend to the shareholders of the Company other than the Buyers and their affiliates and transferees and any other holders of the Common Stock issued subsequent to the closing dates (including any purchaser of Common Stock of the Company in any private placement subsequent to the closing dates but excluding holders who have obtained shares in the public markets); provided, however, that such a dividend can be paid pursuant to applicable corporate laws and in compliance with all securities laws. The mechanism for such distribution shall be agreed between the Company and the majority of the directors of the Holding Company.
The Buyers and the Company acknowledged and agreed that the Company and the Holding Company may use a portion of the Andora shares to pay any and all costs or legal fees associated with the distribution of the stock of the Holding Company (or the Andora Shares) as a dividend to the Company’s existing shareholders.
The parties agreed that if the Buyers transfer any purchased shares to a third party or if the Company issues shares of Common Stock in a private placement subsequent to the closing dates, the Company will obtain the written agreement of such transferees to waive their entitlement to the distribution of the stock of the Holding Company (or the Andora Shares) as a dividend to the Company’s shareholders.
Definitely. And imo they are worth double what they are priced at now, with positive news (merger, acquisition) only adding to that.
SRGG - From 10q filed 5/15/12 (add $60,000 to the liabilities for the recent Asher note):
"Total assets $2,929,341"
"Total liabilities "348,235"
And we have a market cap of $1,262,009 (at .035)?
Changes coming:
"We are, and have historically been, an oil and gas exploration and development company. However, at this time because of our lack of working capital, our primary objective is to pro-actively seek to monetize our investment in Andora Energy Corporation at a reasonably acceptable price, and then to invest the proceeds into one or more attractive business opportunities, without being specifically confined to oil and gas exploration. Since we have not been able to date to sell our Andora shares, we are also trying to maximize shareholder values by seeking a merger partner and/or to acquire an oil and gas property through a leveraged buyout. In order to maximize shareholder value, the Company will consider business opportunities that are not confined to oil and gas exploration so long as the Company would be in compliance with the Investment Company Act of 1940, as amended."
Another Asher note...for what? Must be planning something
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8678819
SRGG - From 10q filed 5/15/12:
"Total assets $2,929,341"
"Total liabilities "348,235"
And we have a market cap of $937,492 (at .026)?
Changes coming:
"We are, and have historically been, an oil and gas exploration and development company. However, at this time because of our lack of working capital, our primary objective is to pro-actively seek to monetize our investment in Andora Energy Corporation at a reasonably acceptable price, and then to invest the proceeds into one or more attractive business opportunities, without being specifically confined to oil and gas exploration. Since we have not been able to date to sell our Andora shares, we are also trying to maximize shareholder values by seeking a merger partner and/or to acquire an oil and gas property through a leveraged buyout. In order to maximize shareholder value, the Company will consider business opportunities that are not confined to oil and gas exploration so long as the Company would be in compliance with the Investment Company Act of 1940, as amended."
They have the ability to do a leveraged buyout with such a strong balance sheet
And they paid off their convertible note from Asher Enterprises. Asher won't get any discounted shares :)
"The Company paid the outstanding Note in full, including interest and a 40% prepayment penalty, on February 20, 2012."
I agree, very much liking the possibilities here.
nice moves today...got a few more recently...anything under .02 will pay off nicely imo
I'm patiently waiting as well. I've tried for some at .02, without success
Still have some shares here...Will buy more if it goes under .02
not getting my shares...I am trying to get more but this thing is thin...lol
it's funny how some keep tapping the bid, trying to provoke people into selling. but no one is taking the bait. lol
indeed. looking really good here.
Yep... I saw that... rare move on the OTCBB's!
That's not all. They sold a loan they had due them and immediately used the money to pay off their convertible toxic debt, leaving them with very little debt on the books. They paid almost a 50% premium in order to prevent the finance company from owning any of their shares. Major changes coming to SRGG, imo.
Canada
The Company's 53.4%-owned subsidiary Andora Energy Corporation ("Andora") holds interests ranging from 10% to 100% in 85.5 contiguous sections of heavy oil sands leases in the Sawn Lake Property which lies within the central Alberta Peace River Oil Sands area.
Sawn Lake Contingent Resources at Dec31, 201
14 MMbbl 2C contingent resources
attributed to Pan Orient’s 53.4% ownership
of Andora
• Process underway to enhance shareholder
value with all options considered:
– Outright or partial sale
– IPO
– Strategic investment/partne
http://www.panorient.ca/images/stories/file/presentation.pdf
p. 32
Wrong...worth a hell of a lot more than .10 per SRGG share. Just need Pan Orient energy to get of their butts and drill swan lake
As of December 31, 2011, we owned a total of 3,198,166 shares in Andora valued at $2,878,350 for financial statement purposes ($0.90 per share) after taking temporary write downs of $381,402 in fiscal 2011 due to temporary market conditions.
The $.90 is for the Andora shares not SRGG, but still looks like its worth about $.10/share. Nice!
SRGG owns a interest in a private company called Andora Energy. They are in turn majority owned by another larger oil and gas company. These shares that srgg ownes are worth millions if they can monitize them. Millionas dude!! At least .90 per share of SRGG. Read the 10-k
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