Company to Refocus Operations in Oil & Gas and Mineral Sectors
Long Beach, CA, Sept. 10, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Demand Brands, Inc. (OTCPK:DMAN), (“Company” or “DMAN”), announced today that it has acquired a 100% interest in GEOEnhanced Technologies, Inc (“GEO”) in exchange for 100,000 shares of the Company’s Series A Preferred stock. In connection with this transaction, all previously issued and outstanding shares of Series A and Series C preferred stock, along with 200 shares of Series B preferred stock, were cancelled by the Company. The remaining shares of Series B preferred stock (163 shares) have been subjected to various lock up and leak out restrictions. This transaction is not expected to result in any immediate significant dilution to DMAN common shareholders. The share exchange with GEO resulted in a change in control of Demand Brands with the original shareholders of GEO becoming the controlling shareholders of Demand Brands. GEO has informed the Board of Directors that it intends to become the successor issuer to Demand Brands for reporting and accounting purposes and will eventually file to change the name and ticker symbol. Shannon Cravey was appointed to the Board of Directors of Demand Brands as Chairman and all other members of the Board together with the Company’s officers resigned as part of the transaction. Mr. Cravey appointed Craig Fischer to serve as Chief Executive Officer and to fill one of the vacated board seats. The remaining board seat was filled by Richard Barber, who was appointed Chief Financial Officer of the Company.
GEOEnhanced Technologies was founded in 2016 to develop and bring to market a 4D seismic imaging system for oil, gas, mineral and water exploration. The proprietary technology conducts subsurface analysis in order to locate, identify, and quantify liquid and gaseous hydrocarbons, water, and other minerals. The electro-seismic process can eliminate “dry hole” and other exploratory costs in both the energy industry and mineral exploration. Unlike other seismic imaging devices, GEO’s system works without drilling any holes and also gives a reading on porosity at depths up to 40,000 feet. In the case of subsurface liquids, the system is able to show not only the size, depth and composition of the material, but also the direction of flow. This information greatly reduces drilling and operating costs and increases well productivity.
GEO’s business is primarily a service model where they image property for third party exploration companies. Revenues are generated from a combination of flat fees charged per acre plus an override percentage on production that results from using the information provided. GEO also provides drilling consulting and management services. The Company is also acquiring existing oil, gas and mineral leases on which it will employ its technology and expertise to drill new wells and increase the production and value of those leases.
Bruce Hannan, outgoing CEO of Demand Brands, stated, “The opportunity to acquire GEO is something the Company could not pass up. This is an exciting business with excellent potential that combines both proven technology and one of the hottest industries out there today. This is not development-stage acquisition, but a company with existing assets that is just now entering its revenue cycle. Despite diligent efforts by management to roll out our cannabis consumables business, we found it challenging to compete in an over saturated, uncertain marketplace. The GEO deal adds immediate, substantive value to our shareholders with a huge upside and experience management.”
Craig Fischer, newly-appointed Chief Executive Officer, added, “GEO stands at the forefront of using technology to reduce energy and mineral exploration costs. With exploratory drilling and mining being one of the biggest cost factors involved in energy production, being able to significantly cut down on the risk of “dry holes” is a game changer for the industry. Our three-prong approach combining service revenues, ongoing royalties or overrides, and our own production agenda, positions GEO to be a significant player in not only the energy area, but also in valuable mineral mining. In the coming days we, as a management team, look forward to providing additional information about our company, our short-term plans for providing audited financial statements, up-listing our stock, and operational forecasts.”
About Geo Enhanced Technologies, Inc.
GEOEnhanced Technologies, Inc. is a South Dakota company headquartered in Gun Barrel City, Texas, and engaged in both oil and gas exploration as well as using a proprietary electro-seismic technology to facilitate subsurface mapping to depths of 40,000 vertical feet. The company is positioned as service provider to the energy and mineral exploration industries where it charges fees plus revenue overrides for employing its technology to create seismic mapping. In addition, GEO is actively acquiring oil and gas production leases which it intends to map using its technology, drill exploratory wells to confirm the mapping, then either resell or further develop and produce the properties. For additional information, see the Company’s website at www.geoenhanced.com.
https://www.otcmarkets.com/stock/DMAN/security
GEOenhanced Technologies was founded in 2016 to develop and bring to market a 4D seismic imaging system for oil, gas, mineral and water exploration. The proprietary technology conducts subsurface analysis in order to locate, identify, and quantify liquid and gaseous hydrocarbons, water, and other minerals. The electro-seismic process can eliminate “dry hole” and other exploratory costs in both the energy industry and mineral exploration. Unlike other seismic imaging devices, GEO’s system works without drilling any holes and also gives a reading on porosity at depths up to 40,000 feet. In the case of subsurface liquids, the system is able to show not only the size, depth and composition of the material, but also the direction of flow. This information greatly reduces drilling and operating costs and increases well productivity.
GEO’s business is primarily a service model where they image property for third party exploration companies. Revenues are generated from a combination of flat fees charged per acre plus an override percentage on production that results from using the information provided.
About Geo Enhanced Technologies, Inc.
GEOEnhanced Technologies, Inc. is a South Dakota company headquartered in Gun Barrel City, Texas, and engaged in both oil and gas exploration as well as using a proprietary electro-seismic technology to facilitate subsurface mapping to depths of 40,000 vertical feet. The company is positioned as service provider to the energy and mineral exploration industries where it charges fees plus revenue overrides for employing its technology to create seismic mapping. In addition, GEO is actively acquiring oil and gas production leases which it intends to map using its technology, drill exploratory wells to confirm the mapping, then either resell or further develop and produce the properties. For additional information, see the Company’s website at www.geoenhanced.com.
Texas Railroad Commission Oil & Gas Data Query (P-5)
P5 Compliance Flags
* TNR 91.114: NO
Mail Hold Flag: NO
Organization Detail Information
Operator Number: 300754
Operator Name: GEOENHANCED TECHNOLOGIES INC
Organization Status: Active
Organization Type: CORPORATION
Renewal Month: JULY
Location Address: 707 W CORSICANA ST ATHENS TX 75751
Mailing Address: 707 W CORSICANA ST ATHENS TX 75751
Organization Phone No.: (903) 264-7892
Emergency Phone No.: (903) 264-7892
Filing Fee Amount Paid: $750.00
Initial P-5 Filed Date: 07/15/2020
Last P-5 Filed Date: 07/15/2020
Gatherer Code:
Activity/Speciality Code(s):
Expiration Date:
P5 Inactive Date:
Financial Assurance Information
Option: OPTION-EXEMPT
Amount: $0
Type:
Officer Information
Name: Title: Mailing Address:
FISCHER, CRAIG STEVEN CEO/PRESIDENT 4700 W PARK HOLLYWOOD FL 33021
GARCIA, ADRIAN OSWALDO VP 13421 COUNTY RD 2858 EUSTACE TX 75124
BARBER, RICHARD RAY WRIGHT TREASURER 9106 COCHRAN BLUFF LANE DALLAS TX 75220
* Indicates whether the operator is subject to a final and unappealable Commission order or judgment. Pursuant to Tex. Nat. Res. Code §91.114, the Commission is prohibited from accepting a P-5 Organization Report filing, approving any permits, or issuing any P-4 Certificates of Compliance for an operator with an unsatisfied order/judgment of this type.
Demand Brands Subsidiary GEOEnhanced Technologies
Completes Technology Demonstration on Tribal Lands
Favorable Results to be Presented in September in Anticipation of Long Term Contract
Gun Barrel City, TX, Sept. 17, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Demand Brands, Inc. (DMAN), (“Company” or “DMAN”), announced today that its wholly-owned subsidiary, GEOEnhanced Technologies, Inc. (“GEO”), recently completed a series of tests using its proprietary electro-seismic technology in North and South Dakota on Native tribal lands. The test was conducted at the invitation of the tribal council to demonstrate the effectiveness of the GEO technology for imaging subsurface geology, including porosity.
Adrian Garcia, Vice President of Science and Development for GEOEnhanced, commented, “The tribal council is very interested in knowing what lies below the surface of their land and, in fact, has U.S. federal grant money allocated specifically for that purpose. Foremost on their list is finding new fresh water sources that can be tapped for crops and livestock as the tribe seeks to foster their burgeoning agricultural program. Our seismic imaging team recently spent several days shooting various sections of their land to show the effectiveness of the technology at depths up to 40,000 ft. This week we are returning to present our findings to the council. We have been working over the past months to secure a long-term contract to image all 1,500,000 acres of the tribe’s land. Showing the effectiveness of our technology in a limited test was a critical piece to completing this transaction.”
The company released details of the test indicating that a total of twelve test shots were performed at locations selected by the tribe and covering areas in both North and South Dakota. While not disclosing the results of the tests, Mr. Garcia indicated that he believed the council will be interested to know what lies beneath their land. “Just knowing what is down there is an important first step so that a plan can be developed to capitalize on their natural resources. We’re excited to share these initial results.”
Craig Fischer, company Chief Executive Officer, commented, “GEOEnhanced's forthcoming seismic drone application is ideally suited for this and other projects by avoiding environmental impacts of typical dynamite seismic shots. We are continuing to gain acceptance of our industry leading and proprietary 4-D seismic geologic imaging product in the oil and gas industry.”
GEOenhanced Technologies was founded in 2016 to develop and bring to market a 4D seismic imaging system for oil, gas, mineral and water exploration. The proprietary technology conducts subsurface analysis in order to locate, identify, and quantify liquid and gaseous hydrocarbons, water, and other minerals. The electro-seismic process can eliminate “dry hole” and other exploratory costs in both the energy industry and mineral exploration. Unlike other seismic imaging devices, GEO’s system works without drilling any holes and also gives a reading on porosity at depths up to 40,000 feet. In the case of subsurface liquids, the system is able to show not only the size, depth and composition of the material, but also the direction of flow. This information greatly reduces drilling and operating costs and increases well productivity.
GEO’s business is primarily a service model where they image property for third party exploration companies. Revenues are generated from a combination of flat fees charged per acre plus an override percentage on production that results from using the information provided.
https://vimeo.com/240018202
https://www.geoenhanced.com/about-us
https://cambridgehouse.com/video/8029/science-providing-informationgeoenhanced-technologies
CC CRAVEY CLAIMED THAT A THIRD PARTY VALUED GEOENHANCED AT APPROXIMATELY $17 PER SHARE
WATCH THE FOLLOWING FOR DETAILS:
https://youtu.be/XXNWnMepwts?t=305
https://www.geoenhanced.com
https://www.otcmarkets.com/stock/DMAN/news
https://backend.otcmarkets.com/otcapi/company/financial-report/235517/content
https://ih.advfn.com/stock-market/USOTC/demand-brands-inc-DMAN/trades
https://twitter.com/geoenhanced
https://twitter.com/Rel1Resources
connect@pacifictechnologiesgroup.com
http://www.pacifictechnologiesgroup.com
https://sec.report/otc/financial-report/269027
http://www.pacifictechnologiesgroup.com/
Supplemental Disclosure for Change of Control Events
Geoenhanced Technologies, Inc
707 W. Corsicana Street
____________Athens, TX 75751____________________
963-264-7892
WWW.GEOENHANCED.COM
info@geoenhanced.com
The goal of this disclosure is to provide information with respect to a company’s Change of Control
event. Please address each of the below items to the best of the company’s ability and to the extent
they are applicable to the company’s Change of Control event.
Disclosure of Change in Control and Other Material Events:
1. A description of event(s) and relevant date(s) resulting in the Change in Control.1
December 10, 2020 acquisition of Pacific Technologies Group, Inc.
2. The name(s) of person(s) who acquired control and person(s) from whom control was assumed.
For corporations or other business entities, please provide the name(s) of person(s) beneficially
owning or controlling such corporations or entities.2
Peter Erdekian President of Pacific Technologies Group, Inc. is new Officer/Director. Craig
Fischer, Richard Barber and Shawn Cravey of Geoenhanced Technologies, Inc. have resigned
3. A description of assets acquired or disposed of in connection with the Change in Control and
the names of the purchaser and seller of such assets (if applicable).
Geoenhanced Technologies, Inc. acquired Pacific Technologies Group, Inc.
4. Amount and form (e.g., cash, equity securities, promissory note) of consideration paid in
connection with the Change in Control.
100,000 shares of Series A Preferred Stock
1 A “Change in Control” shall mean any events resulting in:
i. Any "person" (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becoming the "beneficial owner" (as defined in
Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the
total voting power represented by the Company's then outstanding voting securities;
ii. The consummation of the sale or disposition by the Company of all or substantially all of the Company's assets;
iii. A change in the composition of the Board occurring within a two (2)-year period, as a result of which fewer than a majority of the
directors are directors immediately prior to such change; or
iv. The consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation
which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least fifty percent (50%) of
the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding
immediately after such merger or consolidation.
2 See, Securities Exchange Act Rule 13d-3 for determination of “beneficial owner.”
5. A description of any material agreements or other events related to the Change in Control.
Share Exchange and Asset Transfer Agreement dated December 10, 2020 by and between
Pacific Technologies Group, Inc. and Geoenhanced Technologies, Inc.
Certification:
January 19, 2021 [Date]
Peter Erdekian [Officer Signature]
(Digital Signatures should appear as “/s/ [OFFICER NAME]”)
Supplemental Disclosure for Court Appointed Custodian Events
[Insert Company Name]
[Insert Company Address]
________________________________
[Insert Company Telephone]
[Insert Company Website]
[Insert Company Email]
The goal of this disclosure is to provide information with respect to a company’s Court Appointed
Custodian.3 Please address each of the below items to the best of the company’s ability and to the
extent they are applicable to the company’s custodianship proceedings.
Disclosure of Court Appointed Custodian and Other Material Events:
1. Date of court order, name of court, case number, and name of custodian (if a corporate entity,
include name of controlling individual).
2. Number of securities held by custodian, voting power of the securities, and description as to
how the securities were acquired (e.g., open market purchases, compensation, loan
settlement).
3. A description of officer/director appointments, resignations or terminations made in connection
with the custodianship proceedings, including names and relevant titles.
4. A description of any opposition by former management or shareholders (if there was no
opposition, this should be stated).
5. A description of any other material transactions since grant of custody identified in item 1 above.
Certification:
[Date]
[Officer/Custodian Signature]
(Digital Signatures should appear as “/s/ [NAME]”)
3 “Court Appointed Custodian” means a custodian, receiver, agent or other person appointed for the Company or its parent in a proceeding
under federal or state law in which the court or government authority has assumed control over substantially all of the assets or business of
the company or its parent.
Peter Erdekian
2118 Wilshire Blvd.
Santa Monica, 90403
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