You mean this:
On November 18, 2013, Ruben Alba and Ryan Estis resigned from the Board of Directors of Petro River Oil Corp. (the "Company"), effective immediately. Mr. Estis was also a member of the Audit Committee at the time of his resignation. The resignations were not due to any disagreement with the Company or its management on any matter relating to the Company's operations, policies, or practices.
On November 20, 2013, Daniel Smith resigned from the Board of Directors of the Company, effective immediately. His resignation was not due to any disagreement with the Company or its management on any matter relating to the Company's operations, policies, or practices.
On November 20, 2013, the Company and Scot Cohen, the Company's Executive Chairman, entered into an amendment (the "Amendment") to the employment agreement between the Company and Mr. Cohen, dated April 23, 2013 (the "Agreement"). Under the terms of the Amendment, the Company substituted a stock option grant of 41,666,667 fair market value stock options under the Company's 2012 Equity Compensation Plan, at the exercise price of $0.059 per share, for cash-settled restricted stock units representing 66,340,597 shares of the Company's common stock, which the Company had previously agreed to grant Mr. Cohen under the terms of the Agreement. These options will vest in five equal installments, with the first 20% vesting immediately upon grant, and the remaining options vesting in four equal installments on the anniversary of the grant date.
This is a sign of a SCAM especially considering somebody paid for a huge stock promotion on the same day Cohen got 66m shares.
