Indocan Resources Inc. (IDCN)

[UpstateChris]

Authorized Share Count / Corporate Update

For those that dont want to read - NO CHANGE in A/S.

For what it's worth I was curious so I called the Montana Secretary of State's office. As anyone who has every created a business knows, your Corp/LLC/etc must be registered with a state SOS, and your fillings and articles include the TOTAL share count. Now, does this mean there are not illegal ways to get MORE shares than this in the market? No, it does not - but I feel it is very unlikely. These numbers do NOT indicate a float - just the TOTAL authorized shares. Since we know the float was close to being the entire A/S anyhow, short of the frozen shares (that we do not know the status of), the float versus A/S is really not relevant here.

First, note that Jeff has three separate and current legal entities with the state of Montana.

https://app.mt.gov/cgi-bin/bes/besCertificate.cgi?action=list&bessearch=Indocan&trans_id=besa102171255040baf01

All three are Indocan Resources. One is a full Corporation, another a limited partnership and the third a limited liability corporation. Each is a separate legal entity under the law and there are both positive and negative reasons for having this structure. This is NOT uncommon for tax purposes (one organization selling management services to another, etc. to reduce the tax impact, as well as reducing the legal liability to the individuals that own the organization, etc.) Granted, there are also ways that these could be used in an evil manner, such as transferring resources from the publicly traded organization to the privately owned one, or creating contracts where one organization is entitled to X percentage of the profits of another). Since I never received an answer from 5 months ago to to CEO and to the IR, I have no idea how these are used here.

In any case, the main company:

Name: INDOCAN RESOURCES, INC.
ID #: D175133
Type: GENERAL BUSINESS
Jurisdiction State: MT
Status: ACTIVE
Status Reason: GOOD STANDING

Status Dates
Expiration Date:
Date of Incorporation: 10/05/2007
Last AR Filed: 03/31/2010
Suspension:
Inactive Date:
Diss/Widthdr/Revoke:

Additional Info
Term: PERP
Shares: 20000000.00
Purpose Code: ANY LAWFUL BUSINESS

Agent
Registered Agent: COLUMBIA CORPORATE SERVICES INC
Address 2: 2809 GREAT NORTHERN LP #100
City: MISSOULA
State: MT
Zip: 59808-0000

Principal Information

Position Name Address
DIRECTOR JEFFREY R BRUHJELL 2809 GREAT NORTHERN LP STE 100 MISSOULA MT 59808
DIRECTOR ANGELA K HARRISON 2809 GREAT NORTHERN LP #100 MISSOULA MT 59808
PRESIDENT JEFFREY R BRUHJELL 2809 GREAT NORTHERN LP STE 100 MISSOULA MT 59808
SECRETARY ANGELA K HARRISON 2809 GREAT NORTHERN LP #100 MISSOULA MT 59808

(My note: Angela is Jeff's wife, that is her maiden name - you can verify this by doing a search for her name on Facebook)

NOTE: Common shares are not shown on the web site. That is why I called. I asked that the info be emailed to me, and this is what I received:

Our records online are limited. There is another class (COMMON) of shares which include:

4,980,000,000.00 – Authorized
10.00 – issued
.001 – par value.

Joe DeFilippis
Annual Report Supervisor/Business Services
Montana Secretary of State's Office
[phone]
[e-mail]

So doesn't look like anything changed.

Also note that I did pay the $2 for each of these to see the principals. That is why they are shown here and not on the link above. Feel free to pay your $2 to see the same thing.

Next up the the LP:

Name: INDOCAN RESOURCES OIL & GAS, LP
ID #: L202701
Jurisdiction State: MT
Status: ACTIVE
Status Reason: GOOD STANDING
Status Dates
Filing Date: 03/15/2010
Creation Date: 03/15/2010
Renewal Date: 03/15/2015
Principal Office Address
Street: 2809 GREAT NORTHERN LOOP S 100
City: MISSOULA
State: MT
Zip: 59808-0000
Additional Info
Term: PERP
Description: ANY LAWFUL BUSINESS
Purpose Code: 200
Agent
Registered Agent: COLUMBIA CORPORATE SERVICES INC
Address 1: 2809 GREAT NORTHERN LOOP #100
City: MISSOULA
State: MT
Zip: 59808-0000
Principal Information

Position Name Address
GENERAL PARTNER INDOCAN RESOURCES OIL & GAS LL 2809 GREAT NORTHERN LOOP S 100
LIMITED PARTNER NONE LISTED

And finally the LLC

Name: INDOCAN RESOURCES OIL & GAS, LLC
ID #: C157761
Type: LLC MANAGED BY MANAGERS
Jurisdiction State: MT
Status: ACTIVE
Status Reason: GOOD STANDING

Status Dates
Expiration Date: 12/31/2056
Date of Organization: 06/15/2006
Last AR Filed: 03/31/2010
Inactive Date:
Involuntary Intent: 09/02/2008
Diss/Widthdr/Revoke:

Principal Office Address
Street: 2809 GREAT NORTHERN LP #100
City: MISSOULA
State: MT
Zip: 59808-0000

Additional Info
Purpose Code: NONE STATED

Agent
Registered Agent: COLUMBIA CORPORATE SERVICES, INC.
Address 1: 2809 GREAT NORTHERN LP #100
City: MISSOULA
State: MT
Zip: 59808-0000

Principal Information

Position Name Address
LLC MANAGER OR MEMBER DAVID H BJORNSON 2809 GREAT NORTHERN LP #100 MISSOULA MT 59808

I do not know who David is, I assume an attorney at the registered agent since these are all foreign entities.


I DID NOT pay the $15/each for a copy of the Annual Report - but these were filled in March of this year. Feel free to pay and post if you like.