So what does that mean for the shares you own here? You do own shares right? Regardless, there is only 3.5% of the commons available if the company can issue 96.5% of the commons for acqusition.
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.
Security Ownership of Certain Beneficial Owners and Management
The following table sets forth certain information concerning the number of shares of the Company’s common stock owned beneficially as of October 31, 2013 by: (i) each person (including any group) known to the Company to own more than five percent of any class of its voting securities; (ii) each of its directors; (iii) each of its named executive officers; and (iv) the executive officers and directors as a group. Shares of common stock relating to options, warrants or convertible securities currently exercisable, or exercisable within 60 days of January 31, 2013 are deemed outstanding for computing the percentage of the person beneficially owning such securities but are not deemed outstanding for computing the percentage of any other person. Except as otherwise indicated, each person or entity named in the table has sole voting and investment power with respect to all shares of the Company’s common stock shown as beneficially owned, subject to applicable community property laws.
Shares Beneficially
Percentage
Name and Address of Beneficial Owner
Owned
Ownership
5% or more beneficial owners:
John Rhoden
31,500,000
29.3% New World Petroleum Investments, Inc.
27,439,051
25.3%
Directors and Executive Officers
Alvaro Vollmers- President, Treasurer, Secretary and sole Director
4900 California Avenue, Tower B-210
Bakersfield, California 93309
10,500,000
9.8%
Executive Officers and Directors as a Group (1 person)
Just the above holdings is 74.2% of the commons (Which I believe we're the shares that was just retired back to the company from my perspective). There was 14+ million WARRANTS (Balance) issued @.16.
Note 3 Common Stock
On June 28, 2012, the Company completed a private placement of 1,176,471 Units to New World consisting of one share of the Company’s Common Stock and a warrant to purchase one share of the Company’s Common Stock at a price of $0.27 per share for a period of three years from the date of issuance of the Units. Gross proceeds from the sale of the Units were $200,000. The relative fair market value of the warrant on the date of issuance was $93,500. These shares were issued on December 28, 2012.
On December 28, 2012, the Company issued 25,000 shares of Common Stock to each of James E. Melland and Alfred H. Pekarek for serving on the Company’s Advisory Board. The aggregate fair market value of those shares was $2,000 on the date of grant.
On December 28, 2012, the Company issued 100,000 shares of Common Stock to Vincent R. Ramirez, as compensation for consulting services. The shares were authorized for issuance during the year ended October 31, 2012.
On June 3, 2013, the Company issued 100,000 shares of Common Stock to Vincent R. Ramirez, as compensation for consulting services. The grant date of these shares was April 12, 2013. The aggregate fair market value of those shares was $1,531 on the date of grant.
On June 3, 2013, the Company issued 25,000 shares of Common Stock to each of James E. Melland and Alfred H. Pekarek for serving on the Company’s Advisory Board. The fair market value of the total shares on the grant date was $1,000.
None of the securities issued in transactions described in this Note 3 to the Financial Statements were registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws, and accordingly will be subject to all applicable restrictions on sale under such laws.
A summary of warrant activity for the year ended October 31, 2013 is presented below:
Weighted
Weighted
average
average
remaining
Aggregate
exercise
contractual
intrinsic
Warrants
price
life (years)
value
Outstanding October 31, 2012
26,851,551
$0.18
1.24
$2,683,373
Granted
Exercised
Forfeited
Expired
12,250,000
Outstanding October 31, 2013
14,601,551
$0.16
2.27
$2,169,961
Which are the same owners of commons in the first quotation.
Transactions with Related Persons
The following is a description of transactions since November 1, 2012 to which the Company has been a party in which the amount involved exceed or will exceed $120,000 and in which any of the person who serves as our director and executive officer or with any beneficial owners of more than 5% of our common stock, or entities affiliated with them, had or will have a director or indirect material interest.
On February 2, 2012, the Company completed a private placement of 300,000 Units to New World Petroleum Investments (“New World”) consisting of one share of the Company’s Common Stock and a warrant to purchase one share of the Company’s Common Stock at a price of $0.65 per share for a period of three years from the date of issuance of the Units. The gross proceeds from the issuance of the Units were $150,000. The relative fair market value of the warrant on the date of issuance was $75,000. These shares were issued on February 2, 2012.
On April 23, 2012, the Company completed a private placement of 198,413 Units to New World consisting of one share of the Company’s Common Stock and a warrant to purchase one share of the Company’s Common Stock at a price of $1.89 per share for a period of three years from the date of issuance of the Units. The gross proceeds from the issuance of the Unites were $250,000. The relative fair market value of the warrant on the date of issuance was $131,925. These shares were issued on May 2, 2012.
On June 28, 2012, the Company completed a private placement of 1,176,471 Units to New World consisting of one share of the Company’s Common Stock and a warrant to purchase one share of the Company’s Common Stock at a price of $0.27 per share for a period of three years from the date of issuance of the Units. Gross proceeds from the sale of the Units were $200,000. The relative fair market value of the warrant on the date of issuance was $93,500. These shares were issued on December 28, 2012.
OREO Security Details Share Structure Market Value1 $3,339,799 a/o Oct 03, 2014 Shares Outstanding 107,389,051 a/o Feb 12, 2014 Float Not Available Authorized Shares 450,000,000 a/o Feb 12, 2014 Par Value 0.00001
Shareholders Shareholders of Record 8 a/o Feb 12, 2014
What am I missing here? The shareholders of record are listed here in this 10Q and it appears via commons & warrants, the commons rather converted or free are owned by 8 entities. If 96.5% can be used for acqusition, then those shares will be held for that reason and 96.5% is not trading at the moment, no? So what about my shares? I purchased on the open market and hold 1.2%. What about all the other open market owners here? It appears to me that the commons here are LOCKED!! Is there a short here? IMO, YES and a large one.....
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