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UNRG Previous CEO passed then it went Dark,

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HDOGTX   Tuesday, 09/10/19 12:59:23 PM
Re: Laster post# 1236
Post # of 3267 
UNRG Previous CEO passed then it went Dark, No one to contest...Last 8k 10-3-2011
On October 1, 2011, Ronald Wilen the Chief Executive Officer, President and a Director of United Energy Corp. (the “Company”) passed away.
https://www.otcmarkets.com/filing/html?id=8171796&guid=d_eIUHutqUKnmth

When two years pass without an entity paying its business taxes at the state level, the entity becomes revoked. This opens the door for control of the public Issuer to be taken over by an interested party (a shareholder or debt holder for example) through a custodianship petition.

The interested party can file a petition with the local court requesting that the court approve a motion to let the interested party (or an individual of their choosing) take over control of the abandoned shell “in the best interest of the shareholders“. The only real concerns the court will have is that there is no objections to the motion and that the custodian has a clean background. The petitioner has to prove to the court that they have made a legitimate effort to contact the former control people and they have to convince the court that the custodian is a respectable choice with a clean background that will act in the best interest of the existing shareholders. That usually isn’t hard to do so most custodianship petitions will be granted by the court.

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