bayfisherii, you are misunderstanding the document. The shares owned by SEO as listed in the filing and the shares owned by Chrome are the same shares.
SEO owns Chrome OilServices and Chrome Energy, so he is listed as owning those 306,091,433 shares and apparently another 4,205,000 in a personal account to total 310,296,433. See footnote 3.
Name and Address Shares of common stock
Beneficially Owned(1) Percentage
Of Voting Power
Principal Shareholders
Chrome Oil Services LTD 202,785,727 (1) 27.6 %
c/o No 22 Lobito, Wuse II
Abuja, Nigeria
Chrome Energy, LLC 103,305,706 (2) 14.0 %
c/o No 22 Lobito Crescent, Wuse II,
Abuja, Nigeria.
First Atlantic Bank 60,641,821 8.2 %
4/6 Adetokunboh Ademola Street
Victoria Island, Lagos
Sir Emeka Offor 310,296,433 (1)(2) 42.1 %
Directors and Named Executive Officer
Nicolae Luca(5) 235,000 *
Andrew Uzoigwe(5) 265,000 *
Howard Jeter(5) 265,000 *
Clement Nwizubo(5) 205,000 *
Peter Ntephe(5) 388,889 *
James Ledbetter(4) 1,000,000 *
All directors and named exectuvie officer as a group (5 persons) 2,358,889 0..3 %
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Table of Contents
* Less than one percent.
(1) The number of shares beneficially owned by each person or group as of November 30, 2008 (except where another date is indicated) includes shares of common stock that such person or group had the right to acquire on or within 60 days after that date, including, but not limited to, upon the exercise of options and vesting and release of restricted stock units. To our knowledge, except as otherwise indicated in the footnotes to this table and subject to applicable community property laws, each stockholder named in the table has sole voting and investment power with respect to the shares set forth opposite such stockholder’s name.
(2) Includes warrants to purchase 2,500,000 shares of the Company’s common stock, of which 1,500,000 expire in October 2008 and have a $0.25 per share exercise price, and 1,000,000 expire in April 2009 and have a $0.25 per share exercise price.
(3) Sir Emeka Offor is the beneficial owner of the shares held of record by Chrome Oil Services, Ltd., and Chrome Energy, LLC as the sole voting and investment power over these shares.
(4) Includes 1,000,000 stock options with an exercise price of $0.43 per share that expire on December 18, 2009.
(5) c/o Suite 1440, 5444 Westheimer Road, Houston, TX 77056
