BB's Stock Haven

[Robza73]

$500 mill firm is taking control of CEGX

CEGX (Cardinal Energy Group) had a huge Filing out at the close today (15:59)

https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11768738

On December 29, 2016, Cardinal Energy Group, Inc. (the “Company”) filed a Form 8-K in which it reported, in part, that it had 95,429,557 shares of common stock issued and outstanding. On or about December 30, 2016, the Company issued to each of Meyers Associates, L.P. (“Meyers”) and to Gregory R. Traina (“Traina”) 150,000,000 shares of its restricted common stock in connection with placement agent and other services rendered to the Company, resulting in a total issuance of 300,000,000 shares of restricted common stock.

Who is Gregory R. Traina? Greg Traina is managing director at Meyers Associates, L.P.
Throughout Greg’s employment, he has been responsible for raising more than $2 billion for emerging growth companies.

http://www.meyersassociateslp.com/page/management

Who is the firm taking control of CEGX?
Meyers Associates, L.P.

Meyers Associates, L.P. is a full-service investment banking and securities brokerage firm that focuses on building trusted partnerships with our clients, and throughout the investment community.

High net worth clients rely on us to meet their objectives by providing tailored financial solutions and seizing the right opportunities at the right moment. We work alongside corporate clients to help them meet short- and long-term capital market needs.

http://www.wallstreetoasis.com/company/meyers-associates

We see 3 impressive things on that link for Meyers:

1/ they have 50-299 employees
2/ they have revenues of more than $10 million
3/ they have an AUM (Assets Under Management) between $500 million and $999 million, which means their total assets are VERY impressive!


The issuance of the 300,000,000 million shares of common stock described in Item 3.02 above results in Meyers and Traina, collectively acquiring voting control of the Company, holding 59.36% of the voting power of all shares of capital stock outstanding.

After the issuance of the new 300,000,000 shares of common stock, the Company has 395,429,557 shares of common stock and 1,000,000 shares of Series A Preferred Stock issued and outstanding, respectively. Each share of Series A Preferred Stock has voting rights equal to 110 votes per share. As a result of the transaction, the total outstanding voting power of the Company is 505,429,557 shares, with the new 300,000,000 shares of common stock representing 59.36% of the voting power of all shares of capital stock outstanding.

Recent deals Meyers has done:
http://www.meyersassociateslp.com/page/recent-deals
Noteworthy are the $25mill public offering for Stem Cells, Inc.(STEM), the $25 million offering for Vical Inc (VICL), the $24 million offering for Ligand, the $24 million offering for Capstead


With a super low float of 24 million, CEGX could very well be tomorrow's biggest gainer.....