Savoy Energy Corporation (SNVP)

[TRAPPER JIM]

Looks like they raised the A/S for an acquisition.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9471311
The Company is currently considering a number of strategic business alternatives and believes that it may not have sufficient authorized, but unissued, shares of its Common Stock to facilitate the issuance of additional shares in connection with such alternatives and as required by the Company’s covenants in certain of its senior convertible debt instruments. As of this date, no new strategic business alternatives have been adopted or finalized. In order to facilitate any strategic business alternative, which may be essential to the Company’s continued operations, the Company's Board of Directors believes that the proposed increase in authorized capital is beneficial to the Company because it provides the Company with the flexibility it needs to adopt any such alternatives and continue to comply with its senior convertible debt covenants. At this time, the Company has not made any commitments with respect to any new strategic business alternative. The Board of Directors intends to implement the increase in the Company’s authorized capital twenty days following the mailing of this Information Statement to the Company’s shareholders.