Recently changed its name Don Marcos Trading Co. to Saga Energy Inc.
Good things in the latest 8K implies RM.
8K a.o 8/19/11- http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8111121
Item 5.01 Changes in Control of Registrant
(a) As of August 15, 2011, the Company has undergone a change in control related to a private transaction between shareholders.
As of August 15, 2011, owners of an aggregate of 30,900,000 shares of common stock of the Company selling in a private transaction 32,075,000 of the shares held by them to a group of approximately six purchasers for a total sales price of $325,000 originated from the purchasing group (the "Sale").
As a result of the Sale, Blue Sky Energy and Power, Inc., a Delaware corporation ("BSEP") has acquired 28,065,625 common shares representing 58.1% of the total issued and outstanding common shares.
Beneficial Ownership Info:
Title of Class Name of Beneficial Owner Amount of Beneficial Ownership Percent of Class:
Common Stock Blue Sky Energy and Power, Inc. 1 28,065,625 shares 58.1%
Common Stock Ilyas Chaudhary 28,065,625 shares 2 58.1%
Dading T. Soetarso 801,875 shares 1.7%
Common Stock George Djuhari 0 shares 0%
Common Stock Boedi Tjahjono 0 shares 0%
Common Stock Faisal Chaudhary 28,867,500 shares 3 59.8%
Common Stock Aamna Virk 28,867,500 shares 4 59.8%
Common Stock All directors and officers as a group (6 people) 30,471,250 shares 63.1%
As agreed between the shareholder groups, Ilyas Chaudhary, George Djuhari and Boedi Tjahjono will replace Earl T. Shannon, Steven W. Hudson, Scott W. Bodenweber, Peter Wright, and Mark E. Tupper on the Board of Directors of the Company. Ilyas Chaudhary shall be the Chief Executive Officer and President of the Company, Dading Soetarso shall be the Chief Financial Officer and Aamna Virk shall be the Secretary of the Company.
Info on CEO
Mr. Ilyas Chaudhary was appointed our President and Chief Executive Officer since August 2011 and was appointed a director of the Company to be effective as of ten days after the delivery of the Schedule 14f-1. Since November 2005, he has been acting as the President and Director of Pyramid Petroleum Inc., a Canadian corporation, where he acquired oil and gas assets in the Gulf of Mexico. Mr. Ilyas Chaudhary has served as the President of Blue Sky Langsa, Ltd., an Indonesian company ("BSL"), BSEP and BSIH since December 2009, March 2010 and September 2009, respectively, and has served as a director of BSEP since March 2010. He has also served as a Director and President of Capco Energy, Inc., fka Alfa Resources, Inc., from September 1999 through September 2007. Mr. Ilyas Chaudhary has 35 years experience in various capacities in the oil and gas industry.
The Company has not acquired any existing business. We remain a shell company as the term is defined in Rule 12b-2 under the Exchange Act. The disclosures regarding (i) the market price of and dividend on the Company's common stock and related stockholder matters; and (ii) recent sales of unregistered securities is incorporated by reference herein. We also incorporate by reference the disclosure contained in our Form SB-2/A filed October 3, 2007 and recent disclosure on Form 10-Q filed June 30, 2011 with the exception of the specific disclosures amended by or contained in this Form 8-K.
The Company intends to develop energy resources throughout the globe, placing an emphasis in petroleum in Indonesia. The Company currently has no current products, services, customers, patents, trademarks, licenses, franchises, concessions, royalty agreements or labor contracts. The Company expects limited competition in its business relating to petroleum resources, and anticipates requiring only limited government approval through its anticipated acquisitions of petroleum assets.
The Company may be required to plug and abandon wells in cases where wells the Company purchases or develops are located on concession lands to be returned to the government of Indonesia. The Company also anticipates being required to retain insurance for environmental matters regarding any wells it purchases or develops
Dading Soetarso, Chief Financial Officer. Mr. Soetarso was appointed our Chief Financial Officer since August 2011. Mr. Soetarso also has served as President Director of PT Arah Prana, an Indonesian oil exploration and production company ("PTAP"), beginning in February 2011, where he was responsible for the operation of PTAP's Floating Production Storage Off-shore located in North Sumatera, Indonesia. From 2006 through 2010, Mr. Soetarso was a consultant on banking strategy for Quest ontheFrontier, a Singapore financial consulting company, where he was appointed on various projects ranging from banking and coal mining energy companies. Prior to this, he had 17 years of banking experience working with Standard Chartered Bank and Citibank in Jakarta and Botswana in various corporate bank marketing and operational support functions.
George Djuhari, Director. Mr. Djuhari was appointed a director of the Company to be effective as of ten days after the delivery of the Schedule 14f-1. Mr. Djuhari has served as the Commissioner of PT Sinomast Mining, an Indonesia coal mining company, since January 2006. He has also served as the Commissioner of PT Pulau Seroja, a tug and barge company since January 2008. He has been the Chairman of PT Cigading International Bulk Terminal, a coal terminal company, since October 2010. Mr. Djuhari has also served as Commissioner of PTAP since January 2011. Mr. Djuhari is the founder in 1997 of George Djuhari Group, a group of Indonesian companies involved in the shipping of iron ore, coal, rock phosphates and grains in and out of Indonesia, with partnerships with a variety of other companies for the ownership of ships, chartering of cargo, the mining of coal, the trading of commodities such as ammonia, urea and coal, and shipping.
Mr. Ilyas Chaudhary is the father of Mr. Faisal Chaudhary and Ms. Aamna Virk, the Company's Secretary.
Boedi Tjahjono, Director. Mr. Tjahjono was appointed a director of the Company to be effective as of ten days after the delivery of the Schedule 14f-1. Mr. Tjahjono also has served as a Senior Advisor for PT Jogja Magasa Iron, an Indonesian iron industry company, where he obtained a 30-year contract for work in Iron Sand Mining in Jogja Province, Indonesia since December 2006. He also served as a Senior Advisor for PT Odira, an Indonesian gas plant company since 2005. Mr. Tjahjono is also an Advisor for Karang Taruna, and Indonesian NGO providing cheap and clean energy in support of urban populations.
On August 8, 2011, the Company paid off the officer/stockholder loans dated April 9, 2010, November 5, 2010, and March 28, 2011, including all interest accrued on those loans
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Note dated April 9, 2010 for $25,000. The note accrues interest at 1%, is unsecured and is due on October 9, 2011. (paid)
Note dated November 5, 2010 for $25,000. The note accrues interest at 1%, is unsecured and is due on October 9, 2011. (paid)
Note dated March 28, 2011 for $10,000. The note accrues interest at 1%, is unsecured and is due on March 28, 2012. (paid)
Note dated June 24, 2011 for $25,000. The note does not accrue interest, is unsecured and is due on demand.
The Company has relocated to new principal offices to Orange, California, where the Company is renting 800 square feet of space for $1,500 per month, on a month to month basis.