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There seemed to be BID support on your inbetween buy there - good luck
Small float so any real buying pressure will send it flying
Yeah I bet they are restricted. Well they got most of the filing done and are still active on CO SOS. I will continue to add cheap ones and see how this turns out.
Who knows - the CEO had a chance to sell lots of shares of a company they had shares of on a major upward movement and appeared to not do so. Possibly restricted shares?
Could have made huge money per share had they
Since they are dark one was no idea whats really going on
Just a shell - seeming to become more inactive
Will they ever get a deal going?
If so with their OS it could rock
Any word yet on what they are doing?
Hey rrufff, good to see you.
I really don't know what if anything is up with this stock. I still have shares that are definitely seasoned by now.
Hey - just following up to see if there is anything new on this sleepy stock?
I picked up a bunch in the 4th Q of 2009 between .05 and .061.
Thanks in advance and best to all following this.
So if they sold 9.5M at .05 that would be $475K
With 695K out that is .68 cents per share
assumming ENCP was smart enough to sell their 9.5M CPVD at .04 to .05
LOL Bet they still hold them at .0035 now!
Worth a call to the CEO to see:
a) what they did
b) whether they even knew the stock made a move LOL
ENCP has 9.5M shares of CPVD which has been making a move of late - they were in at .0004 pps
Maybe ENCP is finally going to have a 100 to 1 FS and some kind of merger. About time.
ENCP .09 x .18 something must be coming - ALL I CAN SAY IS ABOUT TIME!
someone bought a 5% position yesterday
33k/695k = 4.75%
Maybe the company is finally starting to do something - way overdue
now a 60M market cap LMAO and POS ENCP cannot even uplist to the OTCBB or even do a forward split - POS $42,000 market cap.
Guess it is an opinion of MANAGEMENT
They will finally get off their ASS after I get done selling my POS shares
Had it with this POS company - sat on their ASS for 2 years now!
Call them and they haven't a clue. Inquire "you mean a reverse split" LMAO - right with an OS of 695K - sure.
Management at ENCP certainly need to get their act together. Shareholders are getting real tired of this POS
and now .096 going to bust through .11
meanwhile ENCP with an OS of 695,000 sits on their ass
LOL 33K at .11
Cant wait to see the 10K get out and say WE HADE ACCOMPLISHED ABSOLUTELY NOTHING IN THE LAST YEAR - NO PROGRESS ON ANY MERGER - NO FORWARD SPLIT - JUST SITTING AROUND DOING NOTHING FILING LATE SEC PAPERWORK.
HUGE VALUE FOR SHAREHOLDERS!
HOW ABOUT:
A) UPLISTING TO THE OTCBB FROM THE PINKS. SIMPLE. GET OFF UR BEHIND AND ACT.
B) HAVING A FORWARD SPLIT SO THE SPREAD IS NOT .041 X .18 - AGAIN ACT
BOTH OF THESE ITEMS ARE EASY TO DO AND WOULD BENEFIT THE COMPANY WHILE THEY SCREW AROUND TRYING TO COME UP WITH ANY KIND OF MERGER DEAL. LOOK, THAT'S NOT THAT HARD, PICK UP THE PHONE AND GET BUSY!
What is so lame here is the company is doing NOTHING!
Hey, uplist to the OTCBB - that would be EASY!!!
If there is a deal in the silly share exchange agreement which should be simple.
Meanwhile, if you cannot get that DONE then have a FORWARD split and get your market cap back to where it should be.
A market cap of $42,000 and a spread 6 billion miles wide - LMAO
.04 x .18
The CEO thinks there will be interest in the stock with that kind of spread. Give me a break.
Maybe it is time for a NEW CEO who can get something DONE!
UTAK 4.47M OS with a 60 to 1 FS at .113
Want to bet where it goes?
Bet you see it back to .10 with 60 times as many shares
AN ALMOST INSTANT 60 TIMES YOUR MONEY
Absolutely NO support here as management cannot even get filings done much less close deals, have a FS, or have any kind of PR.
Such a shame so little is being done to get this company moving.
Investors are tired of nothing happening and having their money tied up in a company that is dead money!
With 778M shares LFBG announced a 3 for 2 forward split and went from .025 to .052 in two weeks!
Crazy that someone would be doing a FS with almost a BILLION shares out!
Strong case for a 100 to 1 FS here with ENCP - that would only take the OS up to under 70 MILLION. If ENCP did a 100 to 1 FS their stock would go to $1 within a day or two once people found out. Heck maybe even $5!!
That is one tenth the OS of LFBG prior to their FS!
Here is a company that can help ENCP do a merger - give them a call
http://www.galencc.com/
Anything is better than sitting around and waiting indefinitely for a lame share exchange deal
Why RS are no good - 5,205,000,000 shares reduced to 347,000,000 or so with a 15 to 1 RS. Given "Previous" price they RS'd it at .05 cents to get the .75
Now right back to where it started at .07 cents in ONE day!
Before this tanked 90% this had a market cap of $260M and yet their financials show they only have $850K of assets.
Ha If ENCP had that market cap each share would be trading for $374,000
AcumedSpa Holdings Inc - AMSZ:OTO
0.07 -0.68 -90.67%
Stock History Next
Date Open Day High Day Low Close Volume
9/25/2009 0.06 0.10 0.06 0.07 160,000
7/14/2009 0.75 0.75 0.75 0.75 17
5/26/2009 0.0105 0.0105 0.0105 0.0105 8
5/18/2009 0.0105 0.0105 0.0105 0.0105 333
4/27/2009 0.0105 0.0105 0.0105 0.0105 8
4/14/2009 0.075 0.075 0.075 0.075 667
4/7/2009 0.15 0.15 0.15 0.15 2,000
3/30/2009 0.15 0.15 0.15 0.15 667
2/13/2009 0.12 0.15 0.12 0.15 765
1/29/2009 0.12 0.12 0.12 0.12 658
1/28/2009 0.12 0.12 0.12 0.12 333
1/27/2009 0.15 0.15 0.15 0.15 2,031
1/21/2009 0.15 0.15 0.15 0.15 3,302
1/20/2009 0.30 0.30 0.30 0.30 667
1/16/2009 1.20 1.20 0.45 0.45 2,667
1/9/2009 1.50 1.50 1.50 1.50 18
1/6/2009 3.75 3.75 3.00 3.00 667
12/23/2008 3.75 3.75 3.75 3.75 115
7/29/2008 7.80 7.80 7.80 7.80 27
7/9 2008 15.15 15.15 15.15 15.15 10
4/22/2008 7.80 7.80 7.80 7.80 53
3/13/2008 7.80 7.80 7.80 7.80 34
3/4/2008 7.80 7.80 7.80 7.80 107
1/25/2008 7.80 7.80 7.80 7.80 133
1/15/2008 15.15 15.15 15.15 15.15 107
12/28/2007 26.25 26.25 26.25 26.25 20
10/30/2007 7.80 7.80 7.80 7.80 8
10/4/2007 7.80 7.80 7.80 7.80 200
10/3/2007 15.15 15.15 15.15 15.15 33
9/11/2007 15.15 15.15 15.15 15.15 33
AMSZ — AcumedSpa Holdings, Inc.
Class Common Stock
Par Value: 0.01
QuoteNewsChartsCompany InfoFilingsResearchShort InterestInsider Trans.Best Bid Best Ask Time of Last Inside Change
0.06 (5000 shares) 0.07 (5000 shares) 3:05 PM
Inside Quote
Last Sale 0.07 Change -0.68
% Change -90.6667 Tick Down
Daily High 0.10 Daily Low 0.06
Opening Price 0.06 Volume 160,000
52 wk. High 0.25 52 wk. Low 0.0007
Prev Close 0.75 Dividend 0.00
Yield 0.00 Beta Coefficient 0.56
Trade data delayed 15 minutes.
FS's are good for the most part......et z
Look at IJJP 21M OS not current on their filings have a 10 to 1 FS and go from .003 to .22 - after the FS they are three times higher than where they started and with 10 times as many shares. They increased their market cap by a factor of THIRTY. Heck maybe they should go the route of SWBC and have 18,000 shares and a $500 spread and trade 20 shares a year!
Two scenarios - clearly the FS results in value for shareholders and after all - ENCP officiers should be doing things to benefit their shareholders.
IJJP open high low close change volume
09/25/09 0.0116 0.0150 0.0100 0.0120 +0.0000 11,872,031
09/18/09 0.0191 0.0200 0.0110 0.0120 -0.0080 4,914,821
09/11/09 0.0200 0.0360 0.0162 0.0200 +0.0030 6,342,318
09/04/09 0.0300 0.0300 0.0160 0.0170 -0.0160 6,764,136
08/28/09 0.0150 0.1000 0.0070 0.0330 +0.0210 13,152,644
08/21/09 0.0400 0.0400 0.0100 0.0120 -0.0330 2,292,500
08/14/09 0.0700 0.0700 0.0450 0.0450 -0.0050 188,435
08/07/09 0.0525 0.0695 0.0300 0.0500 -0.0025 232,280
07/31/09 0.0800 0.1400 0.0400 0.0525 -0.0375 296,535
07/24/09 0.0900 0.1450 0.0600 0.0900 +0.0100 323,411
07/17/09 0.0030 0.2200 0.0030 0.0800 +0.0775 1,141,045
http://pinksheets.com/pink/quote/quote.jsp?symbol=ijjp
I agree. ENCP should do a forward split. This would increase the total value for shareholders, and add much needed liquidity to the stock.
99% of the time when a company does a FS, the share price will increase immediately afterwards.
Plus, investors that watch the OTC Daily list will perk up their ears when they see a company do a FS.....z
I agree 100000% MRB great post lets hope they listen!
agreed would be ideal for management to do a FS here with this OS/float..and get this trading with some nice liquidity imo! Coinciding with some nice PRage and possible uplist then wed have all the makings of a solid stock that can make a big move up imo.))
ABSOLUTELY NO EXCUSE THAT ENCP DOES NOT DO THE MINIMAL PAPERWORK REQUIRED TO MOVE TO THE OTCBB WHILE THEY WORK ON GETTING A MERGER DEAL/STOCK SWAP OF SOME KIND DONE.
THE HARD PART OF ACCOMPLISHING THIS IS GETTING ALL OF YOUR FILINGS UP TO DATE.
HOPEFULLY MANAGEMENT WILL READ THIS BOARD AND UNDERSTAND THE BENEFITS ASSOCIATED WITH:
a) UPLISTING TO THE OTCBB SINCE THE COST IS MINIMAL BUT IT BRINGS IN A WHOLE NEW SET OF INVESTORS - WHEN YOU DO THIS PUT OUT A PRESS RELEASE AND BE SURE TO SHOW YOUR CURRENT MARKET CAP, THE LOW 695K OS, AND THE PENDING MERGER AND OR FORWARD SPLIT
b) UNDERSTAND THE VALUE THAT PRESS RELEASES BRING TO YOUR STOCK - IT BRINGS IN A LARGER COMMUNITY OF INVESTORS AND GETS YOUR NAME OUT THERE
c) UNDERSTAND THAT A FORWARD SPLIT WOULD BRING IN A WHOLE NEW SET OF LONG TERM INVESTORS AS WELL. SOME MIGHT WHEN THERE WAS A NICE RUN UP AFTER THE FORWARD SPLIT, BUT HEY THAT IS THEIR RIGHT IF THEY ARE A SHARE HOLDER.
HOPEFULLY MANAGEMENT UNDERSTANDS THAT INVESTORS ARE GETTING QUITE TIRED OF THE SAME CRAP MONTH AFTER MONTH, YEAR AFTER YEAR, WE ARE WORKING ON IT.
*** THAT JUST DOES NOT GET IT ***
ENCP could even do a 500 to 1 FORWARD SPLIT here
GLDY 100 to 1 FORWARD SPLIT with OS already at 5 MILLION shares
Watch what GLDY does in the next month!
Currently pre 100 to 1 FS at:
PENA .10 x SQUAT
LAFC .02 x SQUAT
LMAO MMs continue to manipulate this stock - will management do anything to address it?
Have a FS abnd press MM's to trade your stock fairly!
Clearly POS MM "bought" 2K shares above the ask at .066 and "SOLD" 1951 shares - right - POS liars!
Guess they are really short since they needed to keep/steal 49 shares
ENERCORP INC - Nasdaq: ENCP
Time & Sales most recent next page
Rec. Time Action Price Volume
10:45:57 AM Trade 0.0605 1951
10:45:57 AM Trade 0.066 2000
Majlinda - go look at ATNO - it has 185,000,000 shares - perhaps even more!
The crap stock is doing a 10 to 1 FORWARD SPLIT and was up 100% today!
Now they will have 1.85 BILLION shares
Hit .024 today with 185,000,000+ shares
That is a MARKET CAP of $4,440,000.00 for a company that does almost nothing - VOIP technology - like there is not too much competition already there LOL - their filings are not even up to date!
IF ENCP HAD THAT MARKET CAP SHARES WOULD BE $6.38
ATNO TRADED 12 MILLION SHARES TODAY ALONE JUST ON "WE ARE DOING A FORWARD SPLIT" AND ENDED UP 87%
still here..patience key imo..nice to see .18s again!))
Come on Majlinda go acquire some company and do a forward split!
If this other deal is going to drag on forever look around for other alternatives.
YOUR INVESTORS ARE GETTING RESTLESS AND TIRED OF WAITING FOREVER FOR WHAT SHOULD BE A SIMPLE DEAL AND EASILY DOABLE - AND QUICKLY DOABLE - IE THE SHARE EXCHANGE
GET ON WITH IT ALREADY
Here is a company you could go after - your stock would go crazy
http://www.witricity.com/pages/company.html
Offer then 95% of the OS by issuing them 13.3M shares
Then follow that up with a 5 to 1 forward split and have 100M shares out
The price would still be near a DOLLAR even after the FS occurred
ENERCORP INC - Nasdaq: ENCP
Time & Sales most recent next page
Rec. Time Action Price Volume
10:22:39 AM Trade 0.18 3500
10:22:33 AM Trade 0.179 1848
10:22:32 AM Trade 0.175 450
10:22:14 AM Trade 0.089 5000
LMAO having to scrape at .18 to find their shares LOL
Ready to reload and do it to you again
Hey Ahole MM fill my order at .089 before you walk away from the bid!
MM choking on my .089 buy order LMAO - wonder how long it will take for a fill - been 5 minutes now
please Mr Buyer go away LMAO - NO - give me my fill LOL
Ha POS MM is trapped - cannot find shares and does not want to fill my order for 7750 ENCP @ .089
LMAO POS gave me 5K at .089 and ran and bought some shares at .18 to try to cover LMAO
they are still short from last time!
Majlinda wake up! Go check out SUGO which had an OS of almost 10M before they had a 5 to 1 FS back on Aug 3rd 2009. People found out about the FS as well as their upcoming acquisitions and it ran from .07 cents to $5. It is now moving back over $2 tomorrow. At 1.40 this would be 20 times it's trading price but add the 5 to 1 FS and people have made 100 times their money! Why the interest? The merger and the FS! People are still interested today!
ENCP can do the same!
Get the MERGER wrapped up and have a 20 to 1 to 50 to 1 FS
SUGO went from an OS of 10M and a price of .07 cents to an OS of 50M and a price of $2
http://bigcharts.marketwatch.com/interchart/interchart.asp?symb=sugo&time=8&freq=1
LMAO ENCP - someone had to wait for 40 minutes to get their fill from near open!
Had manipulated it down to .075 with a sell 5 seconds before close friday!
MM's are even more short now
What kind of FS can ENCP have with a 700K OS?
GELV 15-1 FS with 37M OS already
GELV — Green Energy Live, Inc.
Class Common Stock
Par Value: 0.0001
QuoteNewsChartsCompany InfoFilingsResearchShort InterestInsider Trans.Best Bid Best Ask Time of Last Inside Change
1.30 (500 shares) 1.65 (500 shares) 3:39 PM
Inside Quote
Last Sale 1.50 Change +0.25
% Change +20.00 Tick Down
Daily High 1.65 Daily Low 1.47
Opening Price 1.51 Volume 82,700
52 wk. High 3.00 52 wk. Low 0.10
Prev Close 1.25 Dividend 0.00
Yield 0.00 Beta Coefficient 0.00
Earnings/Share 0.00 P/E Ratio
Trade data delayed 15 minutes.
Trade Data / Last Trade 3:38 PM Refresh All Data
Contact Information Business Description
Green Energy Live, Inc.
1740 44th St.
Suite 5-230
Wyoming, MI 49519
Phone: 866-460-7336
OTC Market Tier
Pink Quote/OTCBB
Primary SIC — Industry Classification
2860 - Industrial Organic Chemicals
Business Stage
Shell Company
State Of Incorporation
NV
Jurisdiction Of Incorporation
United States
Company Officers
Karen E. Clark, CEO
SEC Reporting Status
SEC Reporting Company
CIK
0001422341
Fiscal Year End
12/31
Estimated Market Cap
$46,143,938 as of Aug 11, 2009
Outstanding Shares
36,915,150 as of Dec 31, 2007
Wow HUGE $7 trade - 120 shares at .0602
Hey Mr MM why did ti take 20 minutes for that 5K fill at .0765 yesterday?
LMAO - Ouch bet you will end up paying on that one!
curious - bid up tick to .09 all day and then .10 at the end of the day. 2500 shares went off at .10 and bid stayed firm. Things looking up IMO
Thanks for the update, Bill.
someone grabbed another 5K shares of ERCHF
I wonder if these ERCHF stock buys are in anyway related to the pending ENCP stock swap or whether it is just a buyer acquiring shares independantly. Have seem some large volume days on ERCHF in the past!
Sounds good to me!
and on 3000 shares - wait until there is real volume!
Interesting indeed. .09 is quite a step.
ENCP up to .09 x .18 on 3K shares at .13
Probably right. Will be nice when it happens. Thanks for all the DD.
Suspect the share exchange merger is still under way just delayed. ENCP did not go through the effort of getting all of the filings up to date for nothing.
ERCHF- NEWS
Holding in Company
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii Eden Research plc
2. Reason for notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights Yes
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the notification obligation: iii J. M. FINN & CO. LTD
4. Full name of shareholder(s) (if different from 3.):iv J. M. FINN NOMINEES LTD
5. Date of the transaction and date on which the threshold is crossed or reached: v 2nd July 2009
6. Date on which issuer notified: 2nd July 2009
7. Threshold(s) that is/are crossed or reached: vi, vii 10%
8. Notified details:
A: Voting rights attached to shares viii, ix
Class/type of shares
if possible using the ISIN CODE Situation previous to the Triggering transaction Resulting situation after the triggering transaction
Number of Shares Number of Voting Rights Number of shares Number of voting rights % of voting rights
Direct Direct xi Indirect xii Direct Indirect
GB0001646941 5611971 5611971 5631971 5631971 10.02%
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument Expiration date xiii Exercise/ Conversion Period xiv Number of voting rights that may be acquired if the instrument is exercised/ converted. % of voting rights
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi
Resulting situation after the triggering transaction
Type of financial xix, instrument Exercise price Expiration date xvii Exercise / Conversion period xviii Number of voting rights instrument refers to % of voting rights xx
Nominal Delta
Total (A+B+C)
Number of voting rights Percentage of voting rights
5631971 10.02%
9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:
Proxy Voting:
10. Name of the proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:
13. Additional information:
14. Contact name: Tim Griffiths, Chief Executive, Eden Research
15. Contact telephone number: Tel: 01993 868844
ERCHF- NEWS
Spider Mite Trial Data Update
Eden is pleased to announce the first results from its series of field trials conducted by Anadiag S.R.L looking at control of spider mite (Tetranychus urticae) in protected vegetable crops in Southern Europe. This pest causes millions of dollars of lost crops every year.
Following application, the leading Eden encapsulated terpene product gave similar levels of control of spider mite compared to the commercial standard product used in the trials. Eden will commence registration trials later in 2009 with the objective of developing a product to control this very damaging pest in high value protected vegetable crops such as Tomato, Cucumber and Aubergine.
For trial data results please visit http://www.edenresearch.co.uk/html/products/trial-data/spider-mites.asp
Tim Griffiths the Chief Executive of Eden Research plc said:-
"These are important results as they confirm the efficacy of the Eden product in this complex and valuable market. To reduce insect resistance, predatory beneficial insects are often used in glasshouse production but the damaging effects from synthetic compounds generally means that integrated programmes cannot always be implemented.
Eden's leading compounds have shown good efficacy against a range of mites species whilst being well tolerated by the other beneficial insects used in such integrated programmes. Further trials will be undertaken later this year."
For further information:
Tim Griffiths, Chief Executive
Eden Research plc
Tel: 01993 868844
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OS 695,897
Float 208,000 to 540,000
FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
May 25, 2011
Enercorp, Inc.
(Exact Name of Registrant as specified in its charter)
COLORADO 0-9083 84-0768802
(State or other jurisdiction (Commission file number) (I.R.S. Employer
of incorporation, or organization)) or Identification Number)
3509 Auburn Rd.
Auburn Hills, MI 48326
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (248) 683-4600
Item: 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
Effective May 12, 2011, the Board of Directors of Enercorp elected James Jeszke in the position of Director, replacing Gene Nowak whose decision to resign from his duties was voluntary which the Board of Directors accepted. There were no disagreements between Mr. Nowak and the Board of Directors.
Mr. Jeszke is a Senior Vice President, Special Asset Group, of Michigan Commerce Bank. In this position he is responsible for restructuring, preservation and or liquidation of troubled loans in the bank's portfolio. Before assuming the loan work out position, Mr. Jeszke was the Group Loan Manager of Ann Arbor Commerce Bank which is now the main office for Michigan Commerce Bank. Jeszke received his B.S. from Michigan State University where he majored in Accounting. He passed the C.P.A. exam and is a graduate of the School of Banking, Madison, Wisconsin. Mr. Jeszke is deemed to be a disinterested director.
Effective May 12, 2011, the Board of Directors of Enercorp elected Fabian Ciavaglia in the position of Director replacing James Bedsworth whose decision to resign from his duties was voluntary which the Board of Directors accepted. There were no disagreements between Mr. Bedsworth and the Board of Directors.
Mr. Ciavaglia is the Director of Supply Chain, Commercial Aircrafts with Bombardier Aerospace, Inc. since September 2010. He has over 20 years of global experience in the automotive industry. He served as a Business Unit Manager at Valiant International, Inc., where he managed the overall automotive sector revenue strategies, and prior to this position he served as Senior Program Manager at Magna Steyr Corporation. From 1998 to 2008 he worked at Comau, Inc a subsidiary of FIAT, where held several managing positions. Ciavaglia's formal education includes achieving a BS in Electrical Engineering from Lawrence Technological University and an MBA from Northwestern University's Kellogg School of Management. Mr. Ciavaglia is deemed to be a disinterested director.
In addition, the Board of Directors appointed Mr. William Salatino in the position of the President and Chief Operating Officer of Enercorp. Mr. Salatino has over 20 years of diversified Sr. Executive, Operational and Team Building experience. Mr. Salatino was Group Vice President of Valiant Corporations North American Manufacturing, Production and Tooling Divisions. Headquartered in Ontario Canada, Valiant operates a number of businesses globally. Salatino was the founding member and President/CEO of VPTECH, LLC in Auburn Hills, Michigan. Before founding VPTECH, Mr. Salatino was President/CEO of MOCO Thermal Industries, Inc. (a.k.a, Michigan Oven Company) and President of Acco Systems Inc. Mr. Salatino gained his operational and general management experience during his eight years with the General Electric Company ("GE"), where he accelerated through increased operational managing positions. Mr. Salatino holds a BS degree in Industrial Engineering from the University of Massachusetts at Lowell, and is a graduate of GE's highly acclaimed two year corporate, Manufacturing Management Program.
Item 8.01 Other Events
The Board of Directors of Enercorp intends to raise up to $1.5 million of new capital in the form of equity by issuing shares of common stock at $0.30 per share to accredited investors. Concurrent with this transaction, the Board of Directors intends to complete the conversion of most of the debt carried by Enercorp into shares of its common stock at $0.20 per share, as provided by the conversion agreements dated June 30, 2009.
Proceeds from the new capital will first be used to complete the necessary steps to bring Enercorp into full compliance with all applicable rules and regulations. Currently, Enercorp is past due with its SEC filings. In addition, the Board of Directors intends to invest the proceeds in eligible companies in order to build a solid investments portfolio.
Enercorp is in the process of negotiating with qualified placement agents to raise some or all of the $1.5 million. As of the day of this report, no agreements or letters of intent have been signed or entered into with any placement agents.
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 thereunto duly authorized.
Date: May 23, 2011
ENERCORP, INC
By: /s/Majlinda Xhuti
Majlinda Xhuti
Chairman of the Board of Directors
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