See post 3275 from KP and also the following from Registration statement filed with the SEC in August
'On December 31, 2006, we acquired the assets of Mobilestream Oil, Inc.
("Mobilestream")pursuant to a plan and agreement of reorganization dated
November 28, 2006 (the "Mobilestream Acquisition Agreement") between the Company
and Mobilestream. At the time of the Mobilestream acquisition, Mobilestream was
controlled by Frank G. Pringle, our Chairman, and at the time of the
acquisition, our President and CEO. No Mobilestream stockholder was a party to
the Mobilestream Acquisition Agreement. We issued to Mobilestream 11,145,225
shares of our Common Stock. We also issued 35,236,188 shares of our 2006 Series
of Convertible Preferred Stock to Mr. Pringle. Lastly, we issued to Mobilestream
common stock purchase warrants (the "Mobilestream Warrants") to purchase shares
of our common stock on the basis of 1 Mobilestream Warrant for each 3 shares of
either Mobilestream common stock or preferred stock exercisable at $4.75 per
share for a period ending on December 31, 2007. Subsequently, our Board of
Directors extended the exercise date of the Mobilestream Warrants to December
31, 2008. We also assumed Mobilestream's liabilities which were minimal.'
The December 31 date has now been extended to 120 days after the registration is declared 'effective' by the SEC
AI
