Empire Energy Corporation Intl. (fka EEGC)

[BobSinCA]

I'm for whatever allows EEGC to drill Bellevue before the lease runs out, to see if it is commercial.

So, it is worth understanding more about Grand Monarch Holdings and whether it can help. For those interested, I recommend reading its most recent 10-K:

http://www.faqs.org/sec-filings/100415/Grand-Monarch-Holdings-Inc_10-K/

. It shows 200K of cash on hand at the end of 2009, and NO revenues in 2008 and NO revenues in 2009.

Item 7 of the 10-K is very clear about Grand Monarch's business objective:

Our current principal business activity is to seek a suitable reverse acquisition candidate through acquisition, merger or other suitable business combination method.

and

We are in the development stage and currently have no full-time employees.

(PS. If I have somehow found the wrong Grand Monarch Holdings, please advise; but it does have the Villarreals 'in charge,' and this is a reverse acquisition announcement).

Net: sounds like Grand Monarch may help EEGC gain NASDAQ BB status, but its impact on the all important ability to drill is less clear. With a pps increase today of 3%, on only 150% of normal volume, the market is not expecting a lot.

As a potential caveat: Per the 10-K, American Union Financial Services, controlled by Mr. David Villarreal, Jr., does own 1% of Grand Monarch Holdings, and does provide credit cards and mortgages of various sorts. And, the AUFS website does say (Feb 9, 2010) that GMH is negotiating to buy AUFS, but does not say that the acquisition has been completed. There is no information on the AUFS website about the business size of AUFS; but if the acquisition has happened and hasn't been posted, doesn't speak well for the 'activity level' of AUFS.

BTW, not clear at all what Mr. David Villarreal, Jr., Chairman of Grand Monarch, has done in his career to believe he would add value as Chairman of EEGC, an oil exploration company, replacing Clive Burrett, esteemed geologist and founder of GSLM, who currently holds that role. I could not find anything relevant when Googling Mr. Villarreal. Perhaps another IHub member can advise and give links? Or, do IHub members believe it is time for a new Chairman, given the performance of the current one, regardless of background?? I don't have enough data to have an opinion.