Been reading several years filings and I'm coming to the conclusion that this isn't about MXSV/James Anderson & Drage, it's about the former Chairman M.O. Rife III/MorOil to Portsmith Partners of Nevada with 49,135,815 shares as the 53% shareholder in MXSV, some convertable note holders and Drage.
James Anderson according to filings has no shares and seems no more than figurehead.
From 10K:
The Company currently operates from the office of the Company's legal counsel and pays no rent or expenses.
NOTE 5: GOING CONCERN
The accompanying financial statements have been prepared assuming the company will continue as a going concern. As of September 30, 2007, the Company has a working capital deficit, of $329,745 and an accumulated deficit of $47,255,161. Based upon the Company's plan of operation, the Company estimates that existing resources will not be sufficient to fund the Company's working capital deficit. The Company is actively seeking additional equity financing. There can be no assurances that sufficient financing will be available on terms acceptable to the Company or at all. If the Company is unable to obtain such financing, the Company will be forced to further scale back operations, which would have an adverse effect on the Company's financial condition and results of operation.
NOTE 6: COMMON STOCK
On October 25, 2007, subsequent to the balance sheet date, the Company’s Board of Directors authorized a 1-for-1,000 reverse stock split and reduced the par value of its common stock from $.002 to $.001 effective September 14, 2007. Accordingly, all references to number of common shares and per share date in the accompanying financial statements have been adjusted to reflect the reverse stock split on a retroactive basis.
From 06/28/2005 8-K:
Item 5.01 Changes in Control of the Registration
Effective June 16, 2005, Portsmith Partners of Nevada, Inc. ("Portsmith") acquired 49,135,815 shares of Matrix Energy Services Corporation' s, ("the Company"), common stock from MorOil, Inc. The Company and Portsmith do not have any officers or directors in common. As a result of this transaction, James Anderson has been appointed to serve as President and Director of the Company. There are no related transactions between Portsmith and Mr. Anderson.
Mark Zouvas has indicated he intends to step down as a director and officer of the Company, and accordingly, has appointed James Anderson to the board of directors of the Company. Mr. Anderson currently owns James Corporation which has two subsidiaries, a golf company and a computer company. Prior to that, he was the owner and operator of a restaurant and gaming club and owned a retail computer store all located in Salt Lake City, Utah and has been involved in other start up ventures. During the year ended September 30, 2004, the operator of the Company's oil and gas wells foreclosed on the Company's oil and gas properties due to two years of non-payment of operating and related expenses. Currently the Company is actively seeking possible merger and acquisition opportunities. The Company has had no operations since September 9, 2004, other than certain general and administrative expenses. At this time, there has been no business identified which will be acquired or started
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
The Board appointed James Anderson to the Board of Directors and as CEO on June 2, 2005 to fill the vacancies created by the resignations of M. O. Trey Rife, III and Joe Bill Bennett as officer and directors, subject to the closing of escrow June 16, 2005. Mark Zouvas will resign as director and officer on June 30, 2005. Mr. Zouvas has no disputes with the company and is leaving to pursue other ventures. Mr. Anderson will remain the sole director of the Company.
James Anderson, Director and CEO. Mr. Anderson owns James Corporation which has two subsidiaries, a golf company and a computer company. Prior to that, he was the owner and operator of a restaurant and gaming club and owned a retail computer store all located in Salt Lake City, Utah. Mr. Anderson also has over 22 years experience in the computer industry. He has owned and operated his various business interests for the last 24 years. He spent 6 years in the U.S. Army.
Mr. Anderson is a director of one other public company at this time. There is no employment contract between Mr. Anderson and the Company at this time.
From 12/21/2004 8K
Item 8.01 - Other Events
On September 9, 2004, at a meeting of the Board of Directors of the Registrant,
Matrix Energy Services Corp., the Directors elected to accept two compromise
settlement agreements converting its outstanding debt to shares of its common
stock. Specifically, the Registrant agreed to issue 25,245,586 shares of its
common stock to Business Exchange Investments, inc. in lieu of canceling
$378,683.79 of outstanding notes payable. Additionally, the Registrant agreed to
issue 16,650,229 shares of its common stock to MOROIL, Inc. in lieu of canceling
$249,753.43 of outstanding notes and accounts payable. MOROIL, Inc. is solely
owned by the Chairman of the Board of Matrix Energy Services Corp., M.O. Rife
From 10/14/2004 3 for MATRIX ENERGY SERVICES CORP
MorOil Inc- 16,650,229 shares, direct.
There's more but I'm tired-
Nutshell: Anderson doesn't give a crap, MXSV can't pay Drage,
Rife and the note holders want their money and I am going to get
500 shares of MXSV.
