Empire Petroleum Corporation (EMPR)

[KingOfSpades]

Mulacek father&son cross-manipulation between EMPR&EEF

The sales of shares by President and CEO of Empire at $ 0.75, reported earlier, have suddenly disappeared from the Bloomberg page showing the major shareholders.

But the latest information filed by Empire about Energy Evolution Master Fund (EEF) is quite revealing (see SEC link at bottom).

"To incentivize Phil Mulacek to lend money to EMPR an executive officer agreed to sell 600'000 shares at $ 0.75 to Phil, who assigned such right to EEF. EEF exercised such rights on May 27, 2021". But failed to report it, or the executive officer failed to report it.

What a generous guy this Phil Mulacek must be! He assigned 100'00 shares at $ 0.10 of EMPR, then another 255'000 shares at $ 0.141, then 300'000 shares and 300'000 wts at 0.50 to EEF.

Then he assigns 600'000 wts at $ 0.50 to EEF. Obviously he needs to improve the performance of EEF which is managed by Sterling Mulacek, his son.

It gets even better, in May 2021 Phil converted a note of $ 1,2 million and contributed the 1,2 million shares to EEF. In June 2021 "third parties" transferred 2,1 million shares to EEF on the basis of $ 0.75 per share (way below the market price at the time). Again, this obviously has to do with the sales earlier reported by some members of management. But the dates don't jive.

All in all, an intricate and tangled web of strange transactions showing very low or no transparency. Manipulated by Phil Mulacek. Getting a stock to rise on almost no volume with trades between one tight knit group of shareholders you control and then using that to generate track record in a fund your son manages, presumably with the aim of pulling some real money into supporting this charade

EEF is incorporated in Cayman Islands and we remind everybody of all the offshore companies used by Phil Mulacek to hide his investments and controls of public companies. Think of SPI, his earliest company in 1996. One was in Bahamas, one in Cayman Islands, then he issued 5,1 million shares of SPI to CTI Bahamas which he controlled, and later converted those into shares of Interoil, the public company, piecemeal, and then those shares slowly disappeared. Then in 2007 Phil gets sued for fraud and breach of fiduciary duties by his partners who laid the foundation for the very Interoil in 1996. Phil settles. And his cousin, Gerard Jacquin, a French citizen residing at Enghien-Les-Bains, pops up everywhere. Suing Exxon in 2016 together with Phil Mulacek, as large investor in Kina Petroleum, large investor in EMPR

https://www.sec.gov/Archives/edgar/data/887396/000107261322000036/energyevolution_13d-18583.htm