United Energy Corp (UNRG)

[DWillie]

The articles of incorporation filed in Wyoming for Rigworx, dated 1/31/2018, is signed by Samuel Smith, Chairman of the Board of Directors. He's also listed as President. Not sure if they had a CEO as a private corp. But either way, he was there at the founding, which is my point.

https://wyobiz.wy.gov/business/FilingDetails.aspx?eFNum=193209018077103237183217165194157213047135035183

The CEO typically owns a large number of shares of their company. The 5M Class A and 45M common shares were exchanged 1:1. That means Sam owned that amount shares of Rigworx and they were swapped for shares of United Energy. Even exchange. He owned them before and owns them now. Nothing's changed except the name. It's not dilution as they should be locked up and probably restricted as management shares typically are. He'd need approval of the Board to sell them. Granted, the Board is just 3 guys including Sam right now, but that's what it is. (I think I'm right on this interpretation, but please correct me if not.)

Also, you don't have any idea if they plan on issuing shares to raise capital. You need to put an "IMO" on that if you believe they will. So far, there's no indication of that happening whatsoever.