Thursday, March 30, 2017 11:07:36 AM
Oil Exploration International has a convoluted history. After its 1965 incorporation in Delaware, it became one of many subsidiaries of Adatom, which was taken to federal court by the Securities Exchange Commission in 2009.
SEC charged that Adatom’s subsidiaries “were typically shell companies with no assets or business operations” and that Adatom, “used the spinoffs to create a trading market in the stocks of the Subsidiaries without providing the public disclosure that registration requires.”
Adatom had ceased operations in 2001 – but moved its incorporation from Delaware to Oregon (2002), then to Ontario, Canada (2003), changing its name to First Canadian American Holding Corporation. The company again moved its incorporation to Wyoming (2004) and changed its name to Blackout Media Corporation in 2006.
http://aoghs.org/stocks/old-oil-stocks-progress-m-2/
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