Empire Petroleum Corporation (EMPR)

[KingOfSpades]

Phil Mulacek given three Empire directors as gift from son

In case you still didn’t believe that Phil Mulacek controls Empire Petroleum lock, stock and barrel have a read of their 8-K report :-

“On March 8, 2022, the Company filed the Certificate of Designation with the Secretary of State of the State of Delaware and immediately thereafter the Company issued the Series A Voting Preferred Stock to Phil Mulacek”

What exactly is the Series A Voting Preferred Stock? Well read below from the 8-K. Phil got this Stock ostensibly because of his son Sterling’s fund investing almost all its money in Empire (was it a fathers day gift?). Gives Phil no less than THREE directors in his pocket! This in a company whose shareholder roster consists largely of his friends, family or cronies, mostly via their offshore trusts or nominees

“As partial consideration for a strategic investment in the Company by Energy Evolution (Master Fund), Ltd. (the “Fund”), the Board announced that it intends to issue six shares of Preferred Stock (the “Series A Voting Preferred Stock”) with the exclusive right to vote for election of three Directors (the “Series A Directors”), and to issue the Series A Voting Preferred Stock to Phil Mulacek, one of the principals of the Fund, as the Fund’s designee pursuant to a Certificate of Designation of Series A Voting Preferred Stock (the “Certificate of Designation”).”