starboy: the geometry is changing again today:
"...shareholders of record as of January 2, 2007 will receive 1(one) WW Oil and Gas Inc. restricted common share for every 19(nineteen) Biogenerics shares held. The shares will be paid out on January 30, 2007. The special dividend shares will be mailed out to qualified shareholders of record without any action(s) required by eligible recipients." BIGN 12/22/06 Press Release
The geometry has changed once already:
"...shareholders to be paid 1 (one) Tyche Energy Inc. restricted share for every 30 (thirty) Biogenerics Ltd. shares held. Shares are payable March 24, 2006 to shareholders on record December 20, 2005." PR of 01/20/06 and "the new record date for the Special Dividend will be on May 19, 2006 with a payment date of June 2, 2006." 05/03/06 PR
The Geometry could change again in the future as to Royal Pet. Co.:
Oct 20, 2005 10:30:10 AM
TORONTO, Oct 20, 2005 (PRIMEZONE via COMTEX) --
Biogenerics Limited (Pink Sheets:BIGN) is pleased to announce that it is currently finalizing arrangements, and expects to soon commence trading BIGN in Europe via an exchange listing in the United Kingdom... In addition, Biogeneric's management reiterated the impact of this Tuesday's Press Release whereby Royal Petroleum has agreed to provide traditional debt-based financing for Biogeneric's upcoming schedule of oil and gas re-completion projects. Terms announced for the financing include an 8.5% credit facility to support wellhead completion expenses for hydroslotting, secured by current cash flow of the Company's existing portfolio of producing oil & gas properties. Biogeneric's Paul Smith stated, "This is tremendous news for the company and for our shareholders. The Company already has well over $1 million in reserve cash on its balance sheet to support our current hydroslotting schedule, which we knew was going to allow us to leverage our growth without raising additional equity financing and diluting our capital structure. The credit facility we have now put in place with Royal Petroleum is going to allow the Company to step to the plate with an even more aggressive re-completion schedule on a non-dilutive basis, and provides the catalyst for us to hyper-grow the Company's resource production and income streams. Over the past 6 months, we have been aggressively locating and securing additional dormant energy properties that fit the hydroslotter criteria for re-development. Now that the company has secured an almost inexhaustible 'war chest' to bring the remainder of our existing, as well as target properties into production, our growth will now only be limited by how quickly we are able secure new properties, move hydroslotter equipment to the sites, and commence re-completion operations."...
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Why are BIGN shareholders getting these shares in Tyche and WWO&G?
WWO&G: BIGN's interest in WWO&G came to light on August 23, 2006:
TYLER, Texas, Aug 23, 2006 (PRIMEZONE via COMTEX News Network) --
Biogenerics Limited (Pink Sheets:BIGN) announced that WW Oil & Gas Inc. has signed a letter of intent and forwarded a initial deposit to acquire the oil and gas lease rights to properties located in East Texas. Biogenerics Limited shares a 50% interest with WW Oil & Gas Inc.
TYCHE:
2004.12.08 - 2021877 Ontario Inc. name change
TORONTO, Dec 8, 2004 (BUSINESS WIRE) -- Biogenerics Inc. (the Company), (OTC:BIGN) announces that 2021877 Ontario Inc. will file Articles of Amendment to change the name of the company to Tyche Energy Inc.
Tyche Energy Inc. has advised the Company that it plans to drill an exploratory well on a new Silurian sandstone play in Southwestern Ontario. Recent developments in this play have led to the discovery and development of a significant gas reservoir exceeding 10 bcf recoverable sweet gas reserves. Flow rates from wells completed within the "type" reservoir had initial flow rates in the 2 to 4 mmcf/d range.
Drilling of the previously announced development well at the Charring Cross project has been deferred and negotiations are under way to pool lands necessary to create a production spacing unit for the RPI #7 Harwich 1-1-18-IV WCR well. This well tested gas at a stabilized rate of 465 mcf/d from a shallow Devonian reservoir. Construction of a sales gas pipeline at the Charring Cross project is nearing completion. Engineering design and sourcing of sweetening facility necessary to deliver pipeline quality sales gas is currently under review.
Eric David & Sons Interview
With Jean Claude Bonhomme Of Ontario Inc.
Eric David & Sons:
Can you explain exactly how Biogenerics will profit from the assets acquired from Ontario Inc.?
Claude Bonhomme: Biogenerics will profit by receiving an interest in the oil and gas property that we are developing. In other words, when they put up money they will get their money back from the production we are able to get. Secondly, they will retain a percentage interest from the on-going production. Let us say that a well produces for example $20,000 a month and we spend $60,000 in developing the well. They will receive that money firstly, the $60,000 they put up. Then they will retain an interest in the on-going production for as long as the well produces, for five, ten years, whatever the term it will be able to produce.
EDS: Once the oil field is completely utilized, will it produce enough to effect oil and gas prices?
CB: No. There are millions and millions of barrels of oil and cubic feet of gas being produced by major companies. We would have to be like a Texaco or a Petro Canada or Esso to have any effect on the gas or oil prices.
EDS: Where are the wells located? Are they on land or in the water?
CB: The majority of the wells are on land. We have some locations and we have an interest in some leases that are off shore, but we do not drill on the water. We drill from on shore and drill in horizontal wells. We take a location on shore and access those reserves by drilling underneath the lake at a horizontal basis so that we can get access to them without creating a problem of pollution or anything on surface of the water.
EDS: Does Ontario Inc. have in place any procedures or special measures to protect the environment? Have there been any problems with the locals or environmentalists in the past?
CB: No, we have not had any problems with the environmentalists in the past. In Ontario, there are strict procedures that we have to follow to protect the environment. Besides that, we have drilling insurance in case something does happen so that we do not get into any problems financially if there is a problem, it might happen. There could be an accident no one is perfect, but we are well protected with insurance. Secondly, we follow all of the rules and regulations that are applicable to the environment in compliance with the Ontario Natural Resource Department. They have certain policies and procedures that have to be followed and we do. If we did not they would shut us down.
EDS: Does Biogenerics hold a seat on the board at Ontario Inc. and do they hold any of the companies stock in addition to the assets?
CB: Yes, they do. [And] They have an interest directly in the stock of Ontario Inc.
EDS: What other companies are Biogenerics currently investing in and are there any other contracts in the works?
CB: There is a contract in the works that has not been made public yet. It is concerning a new technology to improve secondary recovery production in wells. It has been tested already and has been successful. Now we are going to elaborate further and develop more wells to prove that the technology does work in more than one location. We have tried it in California and Kansas and it worked. Now we are coming to New York to see if it will work there. If it does work then we know that we have something quite substantial.
EDS: How many shares are outstanding and how many are in the public trade-able float?
CB: There are thirty million shares out. There is a ten million share float.
EDS: How many shares do insiders hold?
CB: Company insiders hold nine million shares.
EDS: When will the company report audited financials and move to another exchange?
CB: The target is to have their first audited report on September 30, 2005. That is when they plan to move to another exchange. If things progress faster, which could be, if we get very successful with this drilling and this new technology we are developing, we could accelerate that. Right now that is when it is planned.
EDS: How will the company finance current and future investments?
CB: The company is financing by private placement, by venture loans, and by the current cash flow they are getting through these wells.
EDS: What industries will the company be focusing on for 2005?
CB: The industry will be mainly in the resource energy projects. In other words, anything related to oil and gas and technology related to oil and gas production.
Interview conducted by Kristin Huffner, an Independent Consultant for Eric David & Sons. November 29, 2004.
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Are TYCHE, ROYAL and BIGN just JV partners?
Who might merge and/or acquire whom?
More than half of BIGN's shares are still in its treasury. Control of BIGN is there for the taking. Meanwhile, BIGN keeps spinning off its TYCHE and WWO&G assets to CURRENT shareholders. Have you ever wondered who the majority are that owns the current OUTSTANDING SHARES? Why, I bet it is the venture capitalists who started this company! And so they are giving themselves stock gifts as well as the publis share holders.
From the BIGN website:
We invest in two things: People and true Intellectual Property. With these two components in place, we can help you build your company.
We make decisions quickly and act on them quickly.
When we receive a business plan, we review it, and if we share your vision, we'll contact you to arrange a meeting to discuss the plan in detail and get to know each of your team members. If we reach a sense of business and personal synergy over a few meetings, we'll discuss the terms of investment, and produce a draft term sheet. We like simple structures that are fair to all parties concerned.
We then perform due diligence, evaluating the market, the products or services, the competition and the strategy, in order to develop an in-depth understanding of the business dynamics. We'll check references, and talk to customers and other industry sources.
In parallel with due diligence, we'll start the legal process, and unless significant problems arise, we'll finalize the terms of investment - often within 30 to 60 days of our first meeting.
We want to be the first professional money to invest in your company, and typically take a 20-40% equity stake. This gives us significant influence, but not control, in the company. We usually want a seat on the Board, and full access to company records and information. We're non-invasive, but we're not passive money partners. A good sense of chemistry between Biogenerics and our prospective investees is a crucial factor in whether or not we become partners.
