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AMSE registration revoked:
https://www.sec.gov/litigation/opinions/2019/34-86477.pdf
12(j)Registration Revoked by SEC
07/26/2019 09:06:00
DCDC
Digital Creative Development Corporation Common Stock
As warned, AMSE SEC Suspension for severely delinquent Financials/Filings:
https://www.sec.gov/litigation/suspensions/2018/34-84217.pdf
Order:
https://www.sec.gov/litigation/suspensions/2018/34-84217.pdf
Admin. Proceeding:
https://www.sec.gov/litigation/admin/2018/34-84216.pdf
AMSE is severely delinquent in filing the company's Financials. The stock is at risk of an SEC Suspension and subsequent stock registration revocation.
https://www.sec.gov/cgi-bin/browse-edgar?company=American+Sands+Energy&owner=exclude&action=getcompany
$AMSE recent news/filings
bullish
## source: finance.yahoo.com
Tue, 28 Apr 2015 14:59:00 GMT ~ American Sands Energy Corp. Receives Utah DEQ Permit
[PR Newswire] - SALT LAKE CITY, April 28, 2015 /PRNewswire/ -- American Sands Energy Corp. (OTCBB: AMSE, "AMSE" or the "Company"), an oil sands exploration and development company operating in Utah, is pleased to announce the publication for comment of its Ground Water Discharge Permit and its associated Construction Permit. "The publication of these permits by The Utah Department of Environmental Quality's Division of Water Quality demonstrates the lack of impact that American Sands will have on ground water in the Bruin Point area," stated William Gibbs, Company CEO. AMSE's groundbreaking, water-free extraction process is able to extract bitumen from the sands without using or discharging any water. "Once we are fully permitted, AMSE hopes to be producing bitumen within 18 months at the rate of up to 9,000 barrels per day.
read full: http://finance.yahoo.com/news/american-sands-energy-corp-receives-145900189.html
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Fri, 27 Mar 2015 16:05:00 GMT ~ American Sands Energy Corp. Signs Project Sourcing Agreement with 2020cg, LLC
[PR Newswire] - SALT LAKE CITY, March 27, 2015 /PRNewswire/ -- American Sands Energy Corp. (AMSE), ("AMSE" or the "Company"), an oil sands exploration and development company operating in Utah, is pleased to announce the signing of a project sourcing agreement with 2020cg, LLC ("2020cg"). Under the terms of the agreement, 2020cg, LLC has non-exclusive rights to source potential oil sands projects globally. "American Sands has developed leading edge technology for exploiting 'oil wet' oil sands. Our relationship with 2020cg will enable us to bring this world class technology to projects outside of Utah," said William C. Gibbs, Company CEO.
read full: http://finance.yahoo.com/news/american-sands-energy-corp-signs-160500806.html
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Fri, 13 Mar 2015 17:04:09 GMT ~ AMERICAN SANDS ENERGY CORP. Financials
read full: http://finance.yahoo.com/q/is?s=amse
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Fri, 13 Feb 2015 19:14:14 GMT ~ AMERICAN SANDS ENERGY CORP. Files SEC form 10-Q, Quarterly Report
read full: http://biz.yahoo.com/e/150213/amse10-q.html
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Tue, 10 Feb 2015 13:10:00 GMT ~ American Sands Energy Corp. Engages Stifel, Provides Update on Permitting
[PR Newswire] - SALT LAKE CITY, Feb. 10, 2015 /PRNewswire/ -- American Sands Energy Corp. (OTCBB: AMSE, "AMSE" or the "Company"), an oil sands exploration and development company operating in Utah, is pleased to announce the engagement of Stifel, Nicolaus & Company, Incorporated ("Stifel") as its exclusive investment banker and financial advisor. "We are excited to be working with Stifel," said William C. Gibbs, Company CEO.
read full: http://finance.yahoo.com/news/american-sands-energy-corp-engages-131000420.html
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$AMSE charts
basic chart ## source: stockcharts.com
basic chart ## source: stockscores.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$AMSE company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/AMSE/company-info
Ticker: $AMSE
OTC Market Place: OTCQB
CIK code: 0001432001
Company name: American Sands Energy Corp.
Company website: http://www.americansands.com
Incorporated In: DE, USA
Business Description: American Sands Energy Corporation is a development stage Delaware company with primary operations in Utah. The Company has acquired rights to oil sand ore covering approximately 1,800 private acres of prime oil sand deposits in the Sunnyside area of Utah. The Company has an extraction and recovery system using a licensed proprietary solvent that separates oil and other hydrocarbons from sand, dirt and other substances without creating tailing ponds and other environmental hazards. For more information, visit www.americansandsenergy.com.Less >>
$AMSE share structure
## source: otcmarkets.com
Market Value: $14,192,377 a/o May 15, 2015
Shares Outstanding: 33,393,828 a/o Feb 10, 2015
Float: Not Available
Authorized Shares: 200,000,000 a/o Jul 17, 2014
Par Value: No Par Value
$AMSE extra dd links
Company name: American Sands Energy Corp.
Company website: http://www.americansands.com
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=AMSE+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=AMSE+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=AMSE+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/AMSE/news - http://finance.yahoo.com/q/h?s=AMSE+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/AMSE/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/AMSE/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=AMSE+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/AMSE
DTCC (dtcc.com): http://search2.dtcc.com/?q=American+Sands+Energy+Corp.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=American+Sands+Energy+Corp.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=American+Sands+Energy+Corp.&x=0&y=0
WHOIS (domaintools.com): http://whois.domaintools.com/http://www.americansands.com
Alexa (alexa.com): http://www.alexa.com/siteinfo/http://www.americansands.com#
Corporate website internet archive (archive.org): http://web.archive.org/web/*/http://www.americansands.com
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/AMSE
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001432001&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/AMSE/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/AMSE/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=AMSE&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=AMSE
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/AMSE/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=AMSE+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=AMSE+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=AMSE
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=AMSE
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=AMSE+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/AMSE/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=AMSE+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/AMSE.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=AMSE
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/AMSE/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/AMSE/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/AMSE
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/AMSE
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/AMSE:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=AMSE
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=AMSE
$AMSE DD Notes ~ http://www.ddnotesmaker.com/AMSE
American Sands Energy Corp. to Present at EnerCom's The Oil & Gas
Sands Energy Corp. Aug 12, 2014 11:16 AM
SALT LAKE CITY, Aug. 12, 2014 /PRNewswire/ -- American Sands Energy Corp. (OTCBB: AMSE, "AMSE" or the "Company"), an oil sands exploration and development company operating in Utah, today announced that management will present at EnerCom's The Oil & Gas Conference® 19.
Date: August 21, 2014 at 10:25 AM, ET
Location: Westin Denver Downtown, Denver, CO
Webcast: http://www.oilandgas360.com/togc-webcast/americansands/
Daniel Carlson, Company CFO, will be presenting at the conference, which will be webcast live and also archived for a year. For more information or to schedule a one-on-one meeting, please visit the conference website at http://www.enercominc.com/the-oil-and-gas-conference/.
This company looks interesting to me, as I see getting the permits and financing doable. As far as huge potential though that would depend on the expansion to the 50k bbd, with all the drilling being done in the uinta basin now to meet all the expanding needs of local refineries and the oil being bituman so pretty much limited to trucking it where would that much new supply be sold?
SALT LAKE CITY, June 10, 2014 (GLOBE NEWSWIRE) -- American Sands Energy Corp. (AMSE) ("AMSE" or the "Company"), an oil sands exploration and development company operating in Utah, is pleased to announce that William H. Champion, an experienced mining industry executive, has been appointed to the Company's board of directors.
Mr. Champion joins the board of directors having most recently spent over eleven years with Rio Tinto PLC, during which time he managed various mining subsidiaries. While at Rio Tinto, Mr. Champion's roles included:
Managing Director of Rio Tinto Coal Australia (2009-2013) where he was responsible for the operations of six open pit and one underground coal mine with annual revenues of approximately $ 4.5 billion, annual earnings exceeding $1 billion and over 4,500 employees,
Managing Director of Rio Tinto Diamonds (2007-2009) with responsibility for three diamond mines producing 35 million carats annually,
President and CEO of Kennecott Utah Copper Corporation (2002-2007), one of the largest open pit mines in the world, with revenue of approximately $2.5 billion and earnings of approximately $1.5 billion.
"I'm delighted to be joining the board of American Sands," said Mr. Champion. "AMSE has an exciting project at Sunnyside and a technology that has the potential to be game-changing in the unconventional heavy oil sector."
"We welcome the addition of a mining veteran of Mr. Champion's caliber to our board of directors," stated William Gibbs, AMSE's Chairman and CEO. "His years of successfully running Utah based mining facilities along with his significant experience managing mines, always with a focus on safety and sustainability, will be instrumental to developing our operations as we turn our focus towards commencing production."
AMSE has huge blue-sky potential. Of course, each investor should discount the ultimate upside in the stock based on his/her own view of the likelihood of reaching the blue-sky potential. But, the bull case is $10 per fully-diluted share, (pro forma for the $75 million capital raise coming early next year). Note, not all of that $75 million will be equity, there could be a debt component.
At first blush, $10 per fd share sounds wildly optimistic. It would probably take 2-3 years to get to $10/share, but if AMSE can 1) get permits issued 2) raise $75 million of equity + debt and 3) get oil flowing by 2h 2016, then the probability of the company being able to fund, build and ramp up a 50k bpd facility 4-5 years later goes way, way up. Since the permitting and funding hurdles are closer to 1 year away, I think the stock could comfortably double or triple within 12 months.
How much of a haircut should AMSE receive for it's funding and permitting risk? Well, those are important challenges for sure, but compare a raise of $75 million with a raise of billion(s) for some potash and iron ore juniors. Compare 2 years until 1st production with 5-15 years for some oil & gas, potash and uranium juniors. Compare infrastructure access in Utah to that of Africa or central Asia. Compare rule of law in Utah to that of frontier or emerging countries in Africa and elsewhere.
AMSE is highly speculative, but the KEY risks of permitting and funding for a project in Utah seem to me to be mild (on a relative basis) to the myriad of risks facing so many other natural resource companies. Yet, the BIG upside remains for both AMSE and those other high risk plays.
Wow, this one was looking good until I noted that they are handing out shares for debt at about a 50% discount. I will keep and eye here for an entry point more fitting to what management is valuing this position at.
Feature article on AMSE from SeekingAlpha....posted 4/17/14
http://www.au-wire.com/american-sands-energy-first-mover-in-the-emerging-u-s-oil-sands-industry/
Haha ncoulb1 has no idea what she talking about. AMSE up. Listen to ncoulb1 for major losses.
Haha everyone Oscar2000 was just hyping this stock up to the max on other boards xD pathetic
8-K Out
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): September 4, 2013
American Sands Energy Corp.
(Exact Name of Registrant as Specified in Charter)
Delaware 000-53167 87-0405708
(State or Other Jurisdiction of Incorporation) Commission File Number (IRS Employer Identification No.)
4760 South Highland Drive, Suite 341, Salt Lake City, Utah 84117
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code : (801) 699-3966
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
£ Written communications pursuant to Rule 425 under the Securities Act
£ Soliciting material pursuant to Rule 14a-12 under the Exchange Act
£ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
£ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
At the meeting of the Board of Directors immediately following the Annual Meeting disclosed below in Item 5.07, William C. Gibbs was reappointed as Chairman and Chief Executive Officer, Daniel F. Carlson was reappointed as Chief Financial Officer, and Robin L. Gereluk was reappointed as Chief Operating Officer. No changes were made to the committee assignments.
Item 5.07 Submission of Matters to a Vote of Security Holders.
On September 4, 2013, the Company held its annual meeting of stockholders (the “Annual Meeting”). The matters voted upon were: (i) the re-election of William C. Gibbs, Daniel F. Carlson, Edward P. Mooney, Gayle McKeachnie, Justin Swift, and Mark F. Lindsey as directors, and (ii) the ratification of the appointment of Tanner LLC as the Company's independent registered public accounting firm for the fiscal year ending March 31, 2014. There were no abstentions or broker non-votes for either matter voted upon at the Annual Meeting.
Each of the nominees for director was reelected at the Annual Meeting and the results of the voting for the members of the Board of Directors are set forth below:
Nominees Votes For Withheld
William C. Gibbs 10,300,34 0
Daniel F. Carlson 10,300,34 0
Edward P. Mooney 10,300,34 0
Gayle McKeachnie 10,300,34 0
Justin Swift 10,300,34 0
Mark F. Lindsey 10,300,34 0
The proposal to ratify the appointment of Tanner LLC as the Company's independent registered public accounting firm for the fiscal year ending March 31, 2014, was approved. The results of the voting were as follows:
Votes For Votes Against Abstain
10,300,34 0 0
Item 8.01 Other Events
On September 4, 2013, the Board of Directors set the date for the 2014 Annual Shareholders’ Meeting for September 3, 2014.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
American Sands Energy Corp.
Date: September 5, 2013 By /s/ William C. Gibbs
William C. Gibbs, Chief Executive Officer
Nice volume week. Volume seems to be steadily increasing. Getting shares into stronger hands. Now that summer is over, this is ready to start going up.
Water-Free Process Could Revolutionize Extraction of Crude Oil From Oil Sands, an Industrial Info News Alert
6:30 AM ET 8/26/13 | Marketwire
Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- American Sands Energy Corporation (OTCBB:AMSE) (Salt Lake City, Utah) is "a mining company that wants to produce oil," William Gibbs, chairman and chief executive, told investment analysts at an Oil & Gas conference this month in Denver. The company is unusual in another respect: it claims it can produce heavy crude oil from oil sands without using water and with a minimal environmental impact.
Other companies featured: Chevron (NYSE:CVX)
For details, view the entire article by subscribing to Industrial Info's Premium Industry News at http://www.industrialinfo.com/news/abstract.jsp?newsitemID=237722&refer=mw, or browse other breaking industrial news stories at www.industrialinfo.com.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle(TM), provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the www.industrialinfo.com "Contact Us" page.
Contact:
Joe Govreau
713-783-5147
SOURCE: Industrial Info Resources
8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): August 20, 2013
American Sands Energy Corp.
(Exact Name of Registrant as Specified in Charter)
Delaware 000-53167 87-0405708
(State or Other Jurisdiction of Incorporation) Commission File Number (IRS Employer Identification No.)
4760 South Highland Drive, Suite 341, Salt Lake City, Utah 84117
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code : (801) 699-3966
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
£ Written communications pursuant to Rule 425 under the Securities Act
£ Soliciting material pursuant to Rule 14a-12 under the Exchange Act
£ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
£ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
Item 1.01 Entry into a Material Definitive Agreement.
On August 20, 2013, the Company entered into a Convertible Promissory Note (the “Note”) with Bleeding Rock, LLC, an entity managed by William C. Gibbs, our Chief Executive Officer (the “Note Holder”) for a total of $53,000. The Note bears interest at 6%, is due by August 31, 2014, and will convert into the Company’s common stock upon the completion of a financing of $2,000,000 or more (the “Financing”). The conversion rate will be at the same rate as that of the Financing. Any amount which is not paid when due will bear interest at a rate of 12% per annum commencing 15 days after the due date until paid. The Note is included as an exhibit to this report.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The disclosure set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.
Item 3.02 Unregistered Sales of Equity Securities.
The disclosure set forth in Item 1.01 of this Current Report on Form 8-K regarding the Note is incorporated by reference in this Item 3.02. The Note was issued pursuant to the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, and Rule 506 promulgated thereunder. At the time of the Issuance of the Note, the Company had a reasonable belief that the Note Holder was an accredited investor as defined in Regulation D and obtained such securities without a view to distribution of the same. No selling commissions or underwriting fees were paid in connection with any of these transactions.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Bleeding Rock Promissory Note dated August 20, 2013
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
American Sands Energy Corp.
Date: August 22, 2013 By: /s/ William C. Gibbs
William C. Gibbs, Chief Executive Officer
2
Exhibit 99.1
CONVERTIBLE PROMISSORY NOTE
Amount: US $ 53,000 Date: August 20, 2013
FOR VALUE RECEIVED, American Sands Energy Corp. (the “Debtor” or “Company”), hereby promises to pay in lawful money of the United States to the order of BleedingRock LLC, or its successors or assigns (“Lender”) at such place as the holder hereof may from time to time designate in writing, the principal sum of Fifty Three Thousand Dollars ($53,000), together with interest on the unpaid principal balance hereof from the date hereof until paid in full.
1. PAYMENTS OF PRINCIPAL AND INTEREST .
Unless converted as provided below, Debtor will pay this Note in full, together with interest, on the earlier of June 30, 2014 (“Due Date”), together with all accrued and unpaid interest. This Note shall bear interest at the rate of six percent (6%) per annum. Debtor will pay Lender at such place as Lender may designate in writing. Unless otherwise agreed or required by applicable law, payments will be applied first to interest and then to principal.
2. EVENT OF DEFAULT .
The occurrence of the following shall be deemed to be an event of default (an “Event of Default”) hereunder: (a) Company fails to convert this Note, as provided below, or fails to pay when due any sums payable hereunder; (b) Company files a voluntary petition in bankruptcy or a petition or answer seeking liquidation, reorganization or an arrangement with its creditors; (c) Company applies for, or consents to, the appointment of a receiver, trustee or liquidator, admits in writing its inability to pay its debts or makes a general assignment for the benefit of its creditors; (d) Company defaults in the performance under any term, covenant, condition, or obligation contained herein; (e) Company fails to perform any other obligation under this Note, or (f) the representations of the Company under this Note prove to be untrue.
3. ACCELERATION AND LATE CHARGE .
3.1 Upon the occurrence of an Event of Default and without further notice to Debtor, all unpaid principal, plus all accrued interest and other amounts due hereunder, shall become immediately due and payable.
3.2 Any amount which is not paid when due hereunder shall thereafter, in addition to the other amounts payable hereunder by reason thereof, bear interest at a rate equal to twelve percent (12%) per annum (or such lesser rate as is the maximum rate permitted by applicable laws) commencing the date fifteen (15) days after the due date until paid.
1
4. ATTORNEYS FEES .
Should suit be brought to enforce, interpret or collect any part of this Note, the Lender shall be entitled to recover, as an element of the costs of suit and not as damages, reasonable attorneys’ fees and all other costs of enforcement and collection.
5. CONVERSION .
5.1 Conversion Right . The Lender shall convert this Note in connection with an equity or debt financing of $2 million or more (“Bridge Financing”). Lender shall convert all, but not less than all, of the principal amount of the Note and accrued interest thereon (the “Note Value”) into (a) the number of shares of common or preferred stock or (b) the debt instruments (collectively referred to as the “Conversion Securities”) of the Company equal to (a) in the case of common or preferred shares, the Note Value divided by the price of a common or preferred shares in the Bridge Financing (subject to adjustment as provided in the Notes) or (b) in the case of a debt offering, an amount equal to the outstanding balance of the Note due hereunder. In either case, the Conversion Securities shall be of the same class and/or series, and shall entitle the Lender to the same rights and privileges, as the equity or debt issued in the Bridge Financing.
5.2 No Fractional Shares . No fractional shares of the Company’s Common Stock will be issued upon conversion of this Note. In lieu of any fractional share to which the Lender would otherwise be entitled upon conversion of this Note, the Company shall round such share up to a whole share.
5.3 Mechanics and Effect of Conversion . Upon conversion, the Lender shall (a) surrender this Note, duly endorsed, at the principal offices of the Company, and (b) execute a subscription agreement and all other documents required to executed by other investors in such financing round ( the “Subscription Agreement”) with typical investor representations, including representations required to establish Lender’s status, or any assign, as an “Accredited Investor,” as defined in Rule 501 of Regulation D promulgated pursuant to the 1933 Act. At its expense, the Company will, as soon as practicable thereafter, and in any event within thirty (30) business days thereafter, issue and deliver to Lender, the type of Conversion Securities into which this Note converts which Lender is entitled to receive upon such conversion (bearing the securities legend set forth on this Note and any other legends that may be required by applicable state or federal securities law in the opinion of legal counsel for Company), together with any other securities or property to which the Lender is entitled upon such conversion under the terms of this Note, including a check payable to the order of the Lender for any cash amounts payable as provided above as a result of the conversion of this Note into a fractional share of Equity Stock. Upon full conversion of the entire unpaid balance of this Note, the Company will be released from all its obligations and liabilities under this Note.
5.4 When Conversion Effected . A conversion of the unpaid balance of this Note shall be deemed to have been effected immediately prior to the close of business on the business day on which the Note and the Subscription Agreement are surrendered to the Company as provided above, and at such time, the person in whose name such Conversion Securities are issued as provided herein shall be deemed to be the record holder of such securities as of such date for all purposes.
2
6. NO DILUTION OR IMPAIRMENT . The Company will not, by amendment of its Articles of Incorporation or bylaws or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Note, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate in order to protect the rights of the Lender against dilution or other impairment. Without limiting the generality of the foregoing, the Company (a) will not increase the par value of any shares of stock receivable on the exercise of this Note above the amount payable therefor on such exercise, (b) will at all times reserve and keep available a number of its authorized shares of Equity Stock or such other securities as may be issuable on conversion of this Note (and on the conversion or exercise of such other securities), free from all preemptive rights thereon, which will be sufficient to permit the full conversion of this Note, and (c) shall take all such action as may be necessary or appropriate in order that said shares of Equity Stock (or such other securities) that may be issued pursuant to the conversion of this Note will, upon issuance, be duly and validly issued, fully paid and nonassessable and free from all taxes, liens and charges with respect to the issue thereof.
7. REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The Company hereby represents and warrants to Lender that:
7.1 Authorization . All corporate action on the part of the Company, its officers, directors and shareholders necessary for the authorization, execution and delivery of this Note, the performance of all obligations of the Company hereunder, and the authorization, issuance (or reservation for issuance) and delivery of the shares to be issued upon conversion of the Note has been taken.
7.2 Valid Issuance of Stock . The Equity Stock, when issued, sold and delivered in accordance with terms of this Note, will be duly and validly issued, fully paid and nonassessable.
8. SENIOR NOTE. This Note will be senior to all outstanding obligations of the Company.
9. LOSS OR MUTILATION . On receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Note and, in the case of any such loss, theft or destruction of this Note, on delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company or, in the case of any such mutilation, on surrender and cancellation of such Note, the Company at its expense will execute and deliver, in lieu thereof, a new Note of like tenor.
10. NO RIGHTS OR LIABILITY AS A STOCKHOLDER . This Note does not by itself entitle the Lender to any voting rights or other rights as a stockholder of the Company. In the absence of affirmative action by the Lender to purchase Equity Stock by conversion of this Note, no provisions hereof, and no enumeration herein of the rights or privileges of the Lender shall cause the Lender to be a stockholder of the Company.
3
11. NOTICES . All notices referred to in this Note shall be in writing and shall be deliverable personally or by certified or registered mail, return receipt requested, postage prepaid and will be deemed, to have been given when so delivered or mailed (i) to the Company, at its principal executive offices and (ii) to the Lender, at such address as appears in the records of the Company (unless otherwise indicated by Lender).
In Witness Whereof, the Company has executed this Note as of the date first above written.
American Sands Energy Corp.
By /s/ Daniel F. Carlson
Its: Chief Financial Officer
BleedingRock LLC
By /s/ William C. Gibbs
Its: Manager
4
Sounds like the CEO is putting his money where his mouth is. Very good sign.
American Sands Energy Corp. Converts $2.8 Million in Related Party Debt Into Equity
GlobeNewswirePress Release: American Sands Energy Corp. .
SALT LAKE CITY, Aug. 22, 2013 (GLOBE NEWSWIRE) -- American Sands Energy Corp. (AMSE) ("AMSE" or the "Company"), an oil sands exploration and development company operating in Utah, announced today that certain shareholders and related parties, including the Company's Chairman and CEO, have notified the Company they are commencing actions to convert or exchange into equity approximately $2.8 million in Related Party Debt as disclosed on the Company's most recent financial statements filed in the Report on Form 10Q filed August 19, 2013.
The terms and conditions were not announced but will include conversion and/or exchange of certain notes representing substantially all the related party debt into equity. The net number of shares to be issued in conjunction with these actions will be consistent with the Company's previous disclosures regarding fully-diluted shares outstanding based on the convertibility features of the Notes.
Daniel Carlson, the Company's Chief Financial Officer, said, "These actions by management and certain related parties are important elements to our overall corporate finance strategy to focus our cash and financial resources now and in the future on accelerating development of our oil sands project in Utah. They also demonstrate a belief in the Company's business plan, future prospects, and long-term shareholder value."
About American Sands Energy Corp.
American Sands Energy Corporation is a development stage Delaware company with primary operations in Utah. The Company has acquired rights to oil sand ore covering approximately 1,800 acres of prime oil sand deposits in the Sunnyside area of Utah. The Company has an extraction and recovery system using a licensed proprietary solvent that separates oil and other hydrocarbons from sand, dirt and other substances without creating tailing ponds and other environmental hazards. For more information, visit www.americansandsenergy.com.
Forward-Looking Statements
This release contains forward-looking statements regarding AMSE's future plans and expected performance based on assumptions the Company believes to be reasonable. A number of risks and uncertainties could cause actual results to differ materially from these statements, including, without limitation, the success rate of business development efforts, exploration efforts and the timeliness of development activities, the ability to place the project into full production; the ability to secure all necessary mining permits in a timely manner, fluctuations in energy prices, confirmation of estimated resources, and other risk factors described from time to time in the Company's reports filed with the SEC. In addition, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the Company's control. American Sands Energy Corp. undertakes no obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.
People need to check out the video from the conference. This sounds like a very promising future.
http://media.oilandgas360.com/2013-american-sands-energy-will-gibbs/
New Executive Interviews from EnerCom's The Oil & Gas Conference® 18 Now Posted
PR NewswirePress Release: EnerCom, Inc. – 6 hours ago..
DENVER, Aug. 22, 2013 /PRNewswire/ -- EnerCom, Inc. today posted video interviews with executives on Oil & Gas 360®, the company's one-stop source of oil and gas news, information and analysis from the professionals at EnerCom, Inc.
The interview series conducted at EnerCom's The Oil & Gas Conference® 18 includes a total of 18 interviews covering a variety of topics. All the interviews can be found on Oil & Gas 360® or by clicking the individual links below.
Interview Participants:
•William Gibbs, Chairman and CEO at American Sands Energy (AMSE)
•Myron Stadnyk, President and CEO at ARC Resources (ARX)
•Douglas Brooks, Chief Executive Officer at Aurora Oil & Gas Limited (ticker:AEF and AUT)
•Dan Lanskey, Managing Director at AusTex Oil (ticker:ATO and AOK)
•Mel Riggs, Chief Operating Officer at Clayton Williams Energy (CWEI)
•David Demshur, Chairman and Chief Executive Officer at Core Lab (CLB)
•Steve Jumper, President and Chief Executive Officer at Dawson Geophysical (ticker DWSN)
•McAndrew Rudisill, President at Emerald Oil (EOX)
•John Schiller, Chairman and Chief Executive Officer at Energy XXI (EXXI)
•Russ Porter, President and Chief Executive Officer at Gastar Exploration (GST)
•Gary Evans, Chairman and Chief Executive Officer at Magnum Hunter Resources (MHR)
•Chuck Wilson, Chief Operating Officer at Nighthawk Energy (HAWK)
•David Preng, Founder and President at Preng & Associates
•Jeff Ventura, President and Chief Executive Officer at Range Resources (RRC)
•James Bennett, President and Chief Executive Officer at SandRidge Energy (SD)
•Neal Dingmann, Managing Director at SunTrust Robinson Humphrey
•Malone Mitchell, Chairman and Chief Executive Officer at TransAtlantic Petroleum (TAT)
•Steve Lucado, Chairman at Trans Energy Inc. (TENG)
Global sponsors of Oil & Gas 360® are Credit Agricole Corporate & Investment Bank, Netherland Sewell & Associates, Preng & Associates, and Hein and Associates.
About EnerCom, Inc.
Founded in 1994, EnerCom, Inc. is a nationally recognized investor communications consultancy firm advising and serving energy-centric clients on corporate strategy, investor relations, media and corporate communications, and visual communications design. The Company's professionals have more than 180 years of industry and business experience and a proven track record of success. Headquartered in Denver, EnerCom uses the team approach for delivering its wide range of services to public and private companies large and small, operating in the global exploration and production, drilling, OilService, and associated advanced-technology industries. The Company annually hosts three oil and gas investment conferences:
•The Oil & Gas Conference® 18 – Denver, Colorado – August 11-15, 2013
•The Oil & Services Conference™ 12 – San Francisco, California – February 18-19, 2014
•EnerCom's London Oil & Gas Conference™ 5 – June 12, 2013
For more information about EnerCom, its services, Conferences and Oil & Gas 360® please call +303-296-8834
About Oil & Gas 360®
EnerCom's Oil & Gas 360® is a one-stop source of news, information and analysis from the professionals at EnerCom, Inc. The website is dedicated to all things oil and gas: people, technologies, transactions, and macro-economic trends that impact commodity prices. Our goal with Oil & Gas 360® is to be a trusted source of information and analysis for portfolio managers, equity research analysts, private equity capital providers, private investors, oil and gas executives and professionals, and government officials involved in the oil and gas industry.
This thing has gone straight down since these guys involved. Company should put out an update.
FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response... 0.5
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
1. Name and Address of Reporting Person *
GIBBS WILLIAM C 2. Issuer Name and Ticker or Trading Symbol
American Sands Energy Corp. [ AMSE ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
__ X __ Director __ X __ 10% Owner
__ X __ Officer (give title below) _____ Other (specify below)
Chief Executive Officer
(Last) (First) (Middle)
2610 HILLSDEN DRIVE 3. Date of Earliest Transaction (MM/DD/YYYY)
8/20/2013
(Street)
HOLLADAY, UT 84117
(City) (State) (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 8/20/2013 S 464300 D $0.25 9835700 I By LLC (1)
Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 8. Price of Derivative Security
(Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Options $1.15 6/15/2012 (2) 6/15/2017 Common Stock 75000 2050000 D
Options $0.5 7/31/2012 (3) Common Stock 2098699 4148699 D
Convertible Note $0.5 8/20/2013 J $214281 8/20/2013 6/30/2014 Common Stock 535704 $0.5 2893102 (4) I By LLC (4)
Convertible Note (5) 8/20/2013 P $53000 8/20/2013 6/30/2014 Common Stock, Preferred Stock or Debt Instrument (5) (5) (5) 2893102 (5) I By LLC (1)
Explanation of Responses:
( 1) Mr. Gibbs is the Managing member of Bleeding Rock, LLC, a Delaware limited liability company that beneficially owns 9,835,700 shares of common stock of the Issuer. William C. Gibbs disclaims beneficial ownership of such shares of common stock except to the extent of his pecuniary interest therein.
( 2) 1/3 of options exercisable immediately; 1/3 exercisable 06/15/2013; remaining 1/3 exercisable 06/15/2014.
( 3) Pursuant to Mr. Gibbs' employment agreement dated August 1, 2007, commencing July 31, 2012, Mr. Gibbs has the right to convert unpaid salary into equity of the Company at $0.50 per share. As of July 31, 2012, Mr. Gibb's accrued unpaid salary was $1,049,349.54.
( 4) Mr. Gibbs is the Managing member of Hidden Peak Partners, LLC, a Utah limited liability company that beneficially owns 2,893,102 shares of common stock issuable upon conversion of a note of the Issuer. William C. Gibbs disclaims beneficial ownership of such shares of common stock except to the extent of his pecuniary interest therein.
( 5) The convertible promissory note provides that the holder will convert the Note in connection with an equity or debt financing of $2 million or more by the issuer (the "Bridge Financing") and that the note holder will convert all but not less than all, of the principal amount of the note and accrued interest thereon (the "Note Value")into (a) the number of shares of common or preferred stock or (b) the debt instruments (collectively referred to as the "Conversion Securities") or the of the issuer equal to (a) in the case of common or preferred shares, the Note Value divided by the price of common or preferred shares in the Bridge Financing (subject to adjustment as provided in the Note) or (b) in the case of a debt offering, an amount equal to the outstanding balance of the note. In either case, the Conversion Securities will be of the same class and/or series, and will entitle the note holder to the same rights and privileges, as the equity or debt issued in the Bridge Financing.
Remarks:
Promissory Note of the Issuer; transferred by Bleeding Rock, LLC, of which Mr. Gibbs is the managing member, to Paul Moore, a consultant of the Issuer.
Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
GIBBS WILLIAM C
2610 HILLSDEN DRIVE
HOLLADAY, UT 84117 X X Chief Executive Officer
Signatures
/s/ William C. Gibbs 8/20/2013
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
Volume seems to be picking up lately. Hopefully one day this pops.
American Sands Energy Corp. to Present in Denver at EnerCom's "The Oil & Gas Conference 13"
10:00 AM ET 7/17/13 | GlobeNewswire
American Sands Energy Corp. (OTCBB:AMSE) ("AMSE" or the "Company"), an oil sands exploration and development company operating in Utah, announced today that it will participate at EnerCom's The Oil & Gas Conference 13, which will be held Aug. 11-15 in Denver, Colorado. The Company will present August 15 at 8 am (MST).
"We have the industry's only water-free solution to oil sands mining, and we look forward to telling our unique story at the conference," said William Gibbs, Chairman and CEO of the Company, noting the event hosts one of the largest gatherings of oil and gas executives and investors in the world (see link).
http://enercominc.com/the-oil-and-gas-conference/
About American Sands Energy Corp.
American Sands Energy Corporation is a development stage Delaware company with primary operations in Utah. The Company has acquired rights to oil sand ore covering approximately 1,800 acres of prime oil sand deposits in the Sunnyside area of Utah. The Company has an extraction and recovery system using a licensed proprietary solvent that separates oil and other hydrocarbons from sand, dirt and other substances without creating tailing ponds and other environmental hazards. For more information, visit www.americansandsenergy.com.
Building a nice base down here. Any good news and this will explode. Six months from now this price will look like a steal. Mark this post. As always do your own DD.
American Sands Energy Corp. Retains Merriman Capital as Capital Markets Advisor
Thomson Reuters ONEPress Release: Merriman Holdings Inc. – Wed, Jul 10, 2013 9:02 AM EDT..
SAN FRANCISCO - July 10, 2013 - Merriman Capital, Inc. ("Merriman"), a wholly owned subsidiary of Merriman Holdings, Inc. (MERR), announced today that it has been retained as Capital Markets Advisor to American Sands Energy Corp. (the "Company" or "American Sands") (AMSE). Merriman will advise American Sands management on various strategic initiatives focused on increasing shareholder value and assist the company with its involvement with shareholders and capital markets participants. Merriman provides its advisory clients with Corporate Services and Capital Markets advice on the effective engagement of a potentially broader institutional shareholder base, financing solutions, and strategies for organizing their capital structure while helping to increase trading liquidity. Merriman`s Capital Markets Advisory Group clients also benefit from access to unique capital solutions and the implementation of various capital markets initiatives.
American Sands Energy Corp. is an oil exploration and development company. American Sands utilizes a unique solvent-based extraction process that could enable it to extract significant oil reserves over time, from ore of inorganic insoluble material, such as sand, rock and clay. The Company`s extraction and recovery system separates oil and other hydrocarbons from sand, dirt and other substances without the use of water and without creating tailing ponds and other environmental hazards. The Company anticipates that its principal operations will include the mining of oil sands, the separation of oil products and the sale of oil and oil by-products.
"We are pleased to announce the addition of American Sands to our rapidly expanding portfolio of corporate advisory clients," said Jon Merriman, Chief Executive Officer of Merriman Capital, Inc. "Providing our clients with market insight, corporate brokerage services and strategic advisory for public markets and capital solutions are central components of Merriman`s advisory and corporate services platform. We look forward to working with the American Sands management team in our capacity as their Capital Markets Advisor."
About Merriman Capital, Inc.
Merriman Capital, Inc. is a corporate advisory-focused registered investment bank that provides equity and options execution services, market making, and differentiated research for high growth companies. The firm also provides capital formation, advisory, and M&A services. Merriman Capital, Inc. is a wholly owned subsidiary of Merriman Holdings, Inc. (MERR) and is the leading investment banking firm for unique high-growth companies. For more information, please go to http://www.merrimanco.com.
Merriman Capital, Inc. is a registered broker-dealer and member of The Financial Industry Regulatory Authority (FINRA) http://www.finra.org/ and the Securities Investor Protection Corporation (SIPC) http://www.sipc.org/.
About American Sands Corp.
American Sands Energy Corporation is a development stage Delaware Company with primary operations in Utah. The Company has acquired rights to oil sand ore covering approximately 1,800 acres of prime oil sand deposits in the Sunnyside area of Utah. The Company has an extraction and recovery system using a licensed proprietary solvent that separates oil and other hydrocarbons from sand, dirt and other substances without creating tailing ponds and other environmental hazards. For more information, visit www.americansandsenergy.com.
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K-A filed on April 30, 2013 and the Form 10-Q filed on May 15, 2013. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K-A filed on April 30, 2013 and the Form 10-Q filed on May 15, 2013, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com. Please click on "Investor Relations."
# # #
At Merriman:
Douglas Rogers
Managing Director
Merriman Capital, Inc.
(415) 248-5612
Will Febbo
Chief Operating Officer
Merriman Capital, Inc.
(415) 248-5603
Howard Bernstein
Chief Compliance Officer
Merriman Capital, Inc
(415) 262-1377
--------------------------------------------------------------------------------
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Merriman Holdings Inc. via Thomson Reuters ONE
HUG#1715407
Looks like the start of something good.
Lets hope for a good week. I think this could be back above a buck soon.
Nice press release! This company looks like it has great potential.
American Sands Energy Corp. Announces Water-Free "Environmental Solution" to Oil Sands Mining in Utah
8:30 AM ET 6/4/13 | PR Newswire
American Sands Energy Corp. (OTCBB: AMSE, "AMSE" or the "Company"), an oil sands exploration and development company operating in Utah, said today it has developed an "environmental solution" with its proprietary oil sands extraction technology.
"Continued testing of our extraction process at our pilot facility confirms that our technology is scalable and environmentally friendly, recovering over 99 percent of our proprietary extraction solvent without the use of any water," said William Gibbs, CEO of the Company. "This is a first in our industry. Our solution results in no tailing ponds or associated environmental hazards as compared to traditional oil sands extraction methodologies. We have also completed initial engineering and mining feasibility studies and, based on those studies, estimate our targeted production cost at $49 per barrel or less, which is very compelling. We are continuing work to further define these costs."
The Company explained that it has now successfully run oil sands through its pilot facility from a number of different locations, including its site at Sunnyside, Utah, in addition to oil sands from deposits at Asphalt Ridge, Utah, and Africa, in each case producing clean, dry sand and bitumen, a heavy oil. "These results confirm that our process not only works well on the oil sands from our large resource deposit at Sunnyside, but also on other 'oil wet' deposits from other locations. This significantly expands the potential for us to deploy our technology on similar oil sands deposits both in the United States and other locations around the world," Gibbs said.
Justin R. Swift, a Company director and former U.S. Department of Energy official noted, "American Sands is to be commended for developing this new technology. This clean technology is good for the state and its economy and will help the United States become energy independent, while not harming the environment." Swift is the founder and principal of Swift Global Results, a private consulting firm in the clean energy field. From 2005 through 2009 he served as Deputy Assistant Secretary for International Affairs in the Office of Fossil Fuel, U.S. Department of Energy.
American Sands also announced that it is in the process of completing the environmental studies and other requirements to file for its large mine permit for 1,800 acres of private land. Robin Gereluk, Chief Operating Officer, commented, "We have completed most of the environmental work and mine planning and anticipate filing for the permit within the next 90 days."
About American Sands Energy Corp.
American Sands Energy Corporation is a development stage Delaware company with primary operations in Utah. The Company has acquired rights to oil sand ore covering approximately 1,800 acres of prime oil sand deposits in the Sunnyside area of Utah. The Company has an extraction and recovery system using a licensed proprietary solvent that separates oil and other hydrocarbons from sand, dirt and other substances without creating tailing ponds and other environmental hazards. For more information, visit www.americansandsenergy.com.
Forward Looking Statements
This release contains forward-looking statements regarding AMSE's future plans and expected performance based on assumptions the Company believes to be reasonable. A number of risks and uncertainties could cause actual results to differ materially from these statements, including, without limitation, the success rate of business development efforts, exploration efforts and the timeliness of development activities, the ability to place the project into full production; the ability to secure all necessary mining permits in a timely manner, fluctuations in energy prices, confirmation of estimated resources, and other risk factors described from time to time in the Company's reports filed with the SEC. In addition, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the Company's control. American Sands Energy Corp. undertakes no obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Phil Allen 303.898.0625
SOURCE American Sands Energy Corporation
Anything new going on here? Look like the selling dried up. Nice share structure.
Nice video. Stock looked primed to run.
Good volume day for AMSE. Strange bid bang at end of day to get low of day close.
Take a look at AMSE, American Sands Energy Corp. Per their website they have 200 million barrels of PROVEN reserves. Typically these oil sand deals are valued at $1 per barrel of proven reserves in the ground, which in this case would put the valuation around $200 million. Given that there are 28.8 million shares outstanding, that would put a vauation of approximately $6.94 per share.
This is one seriously undervalued stock. On September 7, 2012, AMSE President Andrew Rosenfeld purchased 350,000 shares of AMSE @ $1.15/share for a total of $402,500 per his filing. This is a serious purchase that needs to be noted.
This is one of the most undervalued stocks I have ever seen. Take a look at the Company's website and the filings and do your own due diligence as one should always do. This is only down here because this isnt on anyones radar yet.
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American Sands Energy Corp.
Executive Interviews from EnerCom's The Oil & Gas Conference® 18
http://media.oilandgas360.com/2013-american-sands-energy-will-gibbs/
Corporate Video:
http://www.youtube.com/watch?v=Pz1-3z__A8o&noredirect=1
Corporate Website:
http://www.americansands.com/
American Sands Energy Corp. (a Delaware corporation) is committed to the efficient extraction of oil and other naturally occurring hydrocarbons contained in oil sands, shale and similar types of geologic structures prevalent in the Mountain West region of North America using a proprietary technology.
ASEC has the rights to mine oil sand ore and extract bitumen from private property located near Price, Utah (the Sunnyside Lease). The Sunnyside Lease area contains some of the prime oil sands deposits in Utah. We have the rights to approximately 1,800 acres with estimated net P50 resources of 200 million barrels of recoverable bitumen to the Company.
ASEC’s proprietary process extracts bitumen from oil sands at a low cost with no expected long term effect to the environment. The process uses NO water and produces only bitumen and clean sand.
There are no tailings or hazardous byproducts. We expect all solvent used in the extraction process to be recycled.
"We are pleased that Merriman Capital, Inc. will be acting as our dedicated capital markets advisor," said William Gibbs, CEO of the Company. "We know the firm well, and management and key shareholders know the personal commitment its CEO Jon Merriman and his entire team make to their clients. As our pace of business development is accelerating, we will benefit from Merriman's track record of advising emerging growth public companies from development stage to operations. This engagement is one element in our expanded corporate finance strategy that will include enhanced corporate and shareholder communications and additions to our leadership team focused on accessing public and private capital to implement our business plan."
In particular, Merriman Capital will review the Company's current financing arrangements, analyze the Company's operating projections and market conditions, and provide the Company management with recommendations regarding the proper positioning of the Company with potential investors and methods of addressing the Company's financing needs.
About American Sands Energy Corp.
American Sands Energy Corporation is a development stage Delaware company with primary operations in Utah. The Company has acquired rights to oil sand ore covering approximately 1,800 acres of prime oil sand deposits in the Sunnyside area of Utah. The Company has an extraction and recovery system using a licensed proprietary solvent that separates oil and other hydrocarbons from sand, dirt and other substances without creating tailing ponds and other environmental hazards. For more information, visit www.americansandsenergy.com.
Forward Looking Statements
This release contains forward-looking statements regarding AMSE's future plans and expected performance based on assumptions the Company believes to be reasonable. A number of risks and uncertainties could cause actual results to differ materially from these statements, including, without limitation, the success rate of business development efforts, exploration efforts and the timeliness of development activities, the ability to place the project into full production; the ability to secure all necessary mining permits in a timely manner, fluctuations in energy prices, confirmation of estimated resources, and other risk factors described from time to time in the Company's reports filed with the SEC. In addition, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the Company's control. American Sands Energy Corp. undertakes no obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Phil Allen 303.898.0625
SALT LAKE CITY, Aug. 22, 2013 (GLOBE NEWSWIRE) -- American Sands Energy Corp. (AMSE) ("AMSE" or the "Company"), an oil sands exploration and development company operating in Utah, announced today that certain shareholders and related parties, including the Company's Chairman and CEO, have notified the Company they are commencing actions to convert or exchange into equity approximately $2.8 million in Related Party Debt as disclosed on the Company's most recent financial statements filed in the Report on Form 10Q filed August 19, 2013.
The terms and conditions were not announced but will include conversion and/or exchange of certain notes representing substantially all the related party debt into equity. The net number of shares to be issued in conjunction with these actions will be consistent with the Company's previous disclosures regarding fully-diluted shares outstanding based on the convertibility features of the Notes.
Daniel Carlson, the Company's Chief Financial Officer, said, "These actions by management and certain related parties are important elements to our overall corporate finance strategy to focus our cash and financial resources now and in the future on accelerating development of our oil sands project in Utah. They also demonstrate a belief in the Company's business plan, future prospects, and long-term shareholder value."
About American Sands Energy Corp.
American Sands Energy Corporation is a development stage Delaware company with primary operations in Utah. The Company has acquired rights to oil sand ore covering approximately 1,800 acres of prime oil sand deposits in the Sunnyside area of Utah. The Company has an extraction and recovery system using a licensed proprietary solvent that separates oil and other hydrocarbons from sand, dirt and other substances without creating tailing ponds and other environmental hazards. For more information, visit www.americansandsenergy.com.
Forward-Looking Statements
This release contains forward-looking statements regarding AMSE's future plans and expected performance based on assumptions the Company believes to be reasonable. A number of risks and uncertainties could cause actual results to differ materially from these statements, including, without limitation, the success rate of business development efforts, exploration efforts and the timeliness of development activities, the ability to place the project into full production; the ability to secure all necessary mining permits in a timely manner, fluctuations in energy prices, confirmation of estimated resources, and other risk factors described from time to time in the Company's reports filed with the SEC. In addition, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the Company's control. American Sands Energy Corp. undertakes no obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.
Market Value1 | $15,944,893 | a/o Jun 10, 2013 |
Shares Outstanding | 28,990,715 | a/o Feb 07, 2013 |
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