TexStar Oil Corp. (fka TEXS)

[Renee]

TEXS revoked:

https://www.sec.gov/litigation/admin/2016/34-77788.pdf

[sidedraft]

So there will be a hearing scheduled, sometime in the future, to determine:

B. Whether it is necessary and appropriate for the protection of investors to suspend for a period not exceeding twelve months, or revoke the registration of each class of securities registered pursuant to Section 12 of the Exchange Act of the Respondents identified in Section II hereof, and any successor under Exchange Act Rules 12b-2 or 12g-3, and any new corporate
names of any Respondents.

I don't recall a suspension for any ticker for longer than 10 days, do you?

[Renee]

TEXS: SEC Admin Proceeding for delinquent Financials:

http://www.sec.gov/litigation/admin/2016/34-77228.pdf

1. TexStar (CIK No. 0000814920) is a Nevada corporation headquartered in Dallas,Texas, whose common stock is registered with the Commission pursuant to Exchange Act Section 12(g). TexStar is delinquent in its periodic reports with the Commission. It has not filed any periodic reports since August 2014, when it filed a Form 10-Q for the quarterly period ended June 30, 2014. In the Form 10-Q, TexStar reported a net loss of $98,638 for the quarter. As of February 19, 2016, its common stock was quoted for sale publicly under the ticker symbol “TEXS” on OTC Pink, a securities marketplace operated by OTC Markets Group, Inc.

[scion]

SEC Charges Oil and Gas Company and Founder with Fraud

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 23473 / February 19, 2016

Securities and Exchange Commission v. Nathan Halsey and TexStar Oil Co., Ltd., Civil Action No. 3:16-cv-00450-B (N.D. Tex. filed February 17, 2016)

SEC Charges Oil and Gas Company and Founder with Fraud

The Securities and Exchange Commission charged Nathan Halsey and TexStar Oil, Ltd. in the United States District Court for the Northern District of Texas, with fraudulently offering securities through misleading investment materials and keeping funds from investors who believed they were investing in an entirely separate company.

The SEC's complaint, filed in the U.S. District Court for the Northern District of Texan [sic] on February 17, 2016, alleges:

TexStar and its founder and CEO Halsey raised at least $1.1 million from investors in China and Southeast Asia in fraudulent securities transactions and distributed false promotional materials in an effort to raise more funds.

These false promotional materials described a successful, asset-rich company that held no profitable oil-and-gas assets, never drilled or produced any wells, and never generated investor returns.

Halsey invited Chinese investors to Texas, showed them an operating oil well owned by another company, raised funds for an alleged investment in that well, and then kept that money for TexStar, without telling investors.
The SEC's complaint charges both defendants with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Section 17(a) of the Securities Act of 1933. The complaint also charges Halsey with violating Section 16(a) of the Exchange Act by failing to make required SEC filings. The SEC's complaint seeks permanent injunctions, civil penalties, disgorgement plus prejudgment interest, and other relief against both defendants, as well as a conduct-based injunction and an officer and director bar against Halsey.

The SEC's investigation was conducted by Rebecca Fike, Kimberly Cain, Carol Stumbaugh, and Michelle Lama, and supervised by Jim Etri of the Fort Worth Regional Office. The litigation will be led by Timothy McCole.

SEC Complaint
https://www.sec.gov/litigation/complaints/2016/comp23473.pdf


http://www.sec.gov/litigation/litreleases/2016/lr23473.htm

[Renee]

TEXS: failure to comply with Finra 6530, ie., delinquent financials. Moved from OTCBB to OTC:

http://www.otcbb.com/asp/dailylist_detail.asp?d=06/19/2014&mkt_ctg=OTCBB

[today32]

News from today... Now how about getting the DTC chill taken care of?

Harbinger Research Initiates Coverage on TexStar Oil Corporation

TexStar Oil Corporation, (OTCBB: TEXS) announced today that Harbinger Research LLC has initiated research coverage on the Company.

The research report provides an investment rating, price target, and earnings model, in addition to a summary of the Company as an investment opportunity, an overview of its businesses, its sales and marketing strategy, and a discussion of the company’s industry. To read the report please visit: www.harbingerresearch.com

Harbinger Research was contracted by the company to author the research report for the purpose of increasing investor awareness and informing both institutional and individual investors of the investment potential of the Company.

About TexStar Oil Corporation:

TexStar Oil Corporation (“TEXS”) is a publicly listed (OTCBB) oil and gas company. The Company is focused on Indonesia and the North Sea, with existing prospects targeting exploration and exploitation of high impact oil and gas projects located near infrastructure and existing discoveries. For additional information log on to www.texstaroil.com

TexStar Oil Corporation
Glenda Lopez, 214-865-6589
[e-mail]

[today32]

Not sure how I missed this news, originally released on 12/10/13:

TEXSTAR OIL CORPORATION EXECUTES LOI ON INDONESIA BIMA SAKTI AREA - NORTH LAMPUNG

TexStar Oil Corporation (OTCBB: TEXS) announced today that the Company has executed a Letter of Intent (LOI) with PT Bima Sakti Energy for the purchase of drilling and exploration rights of Bima Sakti Area - North Lampung field in Indonesia.

"We are very pleased to be moving forward with our plans of making a long term investment into the exploration and development of on-shore and off-shore oil & gas prospects in Indonesia. Our management's operations experience in the region, combined with our local partner's relationships and knowledge of the target fields, makes this an ideal business case for years to come," said Nathan Halsey, Chairman of TexStar Oil Corporation.

[kranthikumar]

TEXS is up by 133%

[today32]

We got some upward movement today... $1.60 x $1.70

[today32]

Sure would be nice to get the DTC chill removed.

[kranthikumar]

TEXS is smells like a winner

[harbecu]

This is interesting......see below

This project TexStarOil is still a great ground floor opportunity! It is only launched 4+ weeks ago and there is still plenty of rooms. We are looking for local agents. Do write to us: [e-mail].

TexStarOil has no border as its product - stock - can be mailed over to your mailing address anywhere in the world. You have a worldwide opportunity!

Furthermore, sign up is very easy. It can be done online using any credit card - VISA, MASTER, AMEX, DINERS. The pay out is also very easy through MASTER debit card. You can withdraw from any ATM machine any part in the world, and you can also spend it at any retail shop any part in the world!

We are buying the share @ US$1.00 only. Current price traded in the open market is at US$1.90. Our potential is 400% minimum, and it can go up to 900% or more. At the same time, we still have monthly dividend of 5%-8%.

Don't miss TexStarOil opportunity!

TexStarOil stock quote on Yahoo Finance! :

[loss-pro]

13:01 12/3/2012 BONP Bonamour Pacific, Inc. Common Stock TEXS TexStar Oil Corporation Common Stock **

[today32]

Name Change: TexStar Oil Corporation (http://www.texstaroil.com/)

http://sec.gov/Archives/edgar/data/814920/000101054912001185/bonpacdef14c110812.htm

[today32]

Agreed...

[loss-pro]

only 77,500 shares O/S, should be $5+

[ottoman]

there is no "they", it's one guy.

I wouldn't expect a call back.

[enzo2]

Will do.

[today32]

Let us know what they have to say...

[enzo2]

Thanks. I left a message at the company as well to answer several questions. Odd that it trades more often post split with such a small float

[today32]

Yes, DTC still has a chill on it as of today.

[enzo2]

Anyone have an update on the DTC chill?

[enzo2]

That is the way I see it. Looks like people are selling their original shares

[mrhenry123]

symbol change they have no clue...... going to get corn-holed....

[enzo2]

Why is someone selling this at .003 pre-split?

[ottoman]

the D comes off tomorrow. Let's see if the dtc chill comes off soon after

[today32]

Bid is jumping all over the place... .10 to .50 to 1.00 to 3.00 to 1.50 to 2.00 crazy

[enzo2]

The person who paid 2.5 pre will not be too pleased

[mrhenry123]

no float.. would sell at 10 cents pre split equivalent

[enzo2]

Apparently no one has their shares yet. Symbol drops the "d" later this week so maybe a true market will appear. I am not selling my shares. yourself?

[enzo2]

good question and it almost looks like ETRF is making a market regardless of whether or not they have the shares. Delivery will be the problem on their end. Good luck and god speed

[mrhenry123]

anybody have stock post split that they are selling ?

[ottoman]

even if/when the DTC drops the chill, it seems a guarantee that the $250 nscc illiquid fee will be charged.

simply looks like apex-cleared brokers are no-go for penny stocks now. fine, let them lose hundreds of millions of dollars. idiots.

[enzo2]

I assume that many investors are in the same predicament. With only 4k on the float I am still curious about where the $10 seller found 1,000 shares. Looks like more for sale behind it so something is not matching up. confusing situation

[today32]

Not surprising...

[ottoman]

lol, I just talked to another trader at zecco, and she said that the sale of BONPD would ALSO incur a ADDITIONAL $250 fee for the following new policy:


Potential Buy-In Following Sales Triggering the NSCC Illiquid Requirement

The National Securities Clearing Corporation (NSCC) is a subsidiary of DTC which provides clearing,
settlement, risk management, central counterparty services and a guarantee of completion for certain
transactions for virtually all broker-to-broker trades involving equities, corporate and municipal debt,
exchange-traded funds, and other securities. The NSCC Illiquid Requirement is applied to Apex when one
customer (or more than one customer in the aggregate, across the totality of customers of Apex’s
correspondents) whose account is carried by Apex sell a variable range starting at more than 10 %,
sometimes triggering at more than 25%, of the average daily trading volume of a security over the last
rolling 20 business days. The amount of this requirement depends on the percentage of the ADV
(Average Daily Value) represented by the open sales. The requirement has very little relation to the
value of the trade, and is generally at least ten times the trade value and may be as high as one hundred
times the trade value, or even more. This requirement is incurred even if the customer owns the shares
and even when Apex has these shares long in its DTC account.

[today32]

It was Penson... There were multiple fees that added up to close to $300. If i recall correctly, several of the fees are standard and one of them is subjective and I think they kept this fee to the minimum because the value of the trade was only $55. They did me a "favor". Not sure what they would charge you on this one, but I wouldn't be surprised if it's closer to the middle or upper part of the $200-$700 range. If they see that you can pay it, they'll charge it.

[ottoman]

may I ask which stock and which broker/clearing firm charged you a fee for chilled/non-dtc eligible securities?

I assume it was penson (apex clearing)

How much was the fee?

[ottoman]

could be holding it for a long time, and by time the chill is off, the pps could be 10 cents lol.

like I said, I've never had problems with chilled stocks before, so this is all very weird to me.

The only way to find out if its still chilled is to call the broker and have them contact apex directly.

[today32]

I'm not willing to pay the fee.... And they WILL charge it, I've been hit with it before. I'll be holding mine.

[ottoman]

Apex-cleared brokers received shares, but it's still chilled, so it's minimum $200 fee up to $700 fee.

I called the TA, and Rosaria? told me she had no clue if it was still chilled or not (gee, very helpful), so I called Zecco, and one of the traders told me that a few people have inquired about the chilled status of BONPD already today, and he said that as of about 15 minutes ago (they contacted APEX clearing) it's still chilled.

apex sucks. I may just take the $200 fee if I can sell for 10 bucks.

I've never seen this happen before

[ottoman]

what makes you say that?

[mrhenry123]

looks like the mkt is getting cornered on this one

[enzo2]

With only a 4k float who is selling these shares? Probs with the T/A yet plenty of shares are for sale around $10. today 25% of the float traded. Isn't somebody going to be squeezed big time after reorg? Would be scared to be a seller. Curious if any of the longs will shed some light. thanks

[today32]

Yea, it could be a shorter...

[GaryS]

very possible a moass is coming,if they sold short

[enzo2]

do you think someone is selling his pre-reverse shares?

[mrhenry123]

GARY - traded with MSCO....15 offer

[enzo2]

ditto

[mrhenry123]

i show float of 4,000