You are right Trapper. My take on it is as follows. DISCLAIMER/SAFE HARBOR: This is my interpretation only. Others should read the actual filings and decide for themselves. Don't trust my numbers as there may be unintentional errors.
ECVI acquired all of these debts from insiders a few months back, then I think they sued the company for not paying them, and if the settlement agreement is approved by the Judge today, XNRG issues shares of the Company’s common stock to ECVI (the “3(a)(10) Stock Issuance”) for resale by ECVI, resulting in sale proceeds to ECVI of approximately $2,038,818. ECVI shall retain $203,883 of the sale proceeds and shall transfer and deliver the $1,834,935 balance to the Debt Assignors.
So insiders get a payday, and us shareholders get more dilution, as stated below. I am expecting a PR campaign to get the share price up a little to move those shares because by my calculations, there is not enough room under the current Authorized cap to handle all those new shares, if issued at the current price. Or possibly an increase in authorized. In my opinion, a reverse split will happen after the shares are dumped. The key, in my mind, is being able to move those settlement shares.
So some of the insiders get paid back salary and other monies owed. A,B,C,E,I and K, all share the same address and are connected to Jerry,the XNRG CEO.
J-The VP of Investor Relations, gets some owed monies.
H-Vencedor gets some money, which I was under the impression they had already been paid.
F,G- I believe are from the Kentucky days
D- An IR Firm, Not sure why they are involved, but Jerry signed a deal with them back in May I believe.
If Ok"d by the Judge today, XNRG has 5 days to start transferring shares to ECVI. From the sale of the shares by ECVI of approximately $2,038,818, ECVI shall retain $203,883 of the sale proceeds and shall transfer and deliver the $1,834,935 balance to the Debt Assignors.
"The plaintiff has acquired and owns all right and title to bona fide outstanding liabilities of the defendant in the total amount of one million eight hundred thirty four thousand nine hundred thirty five and 41/100($1,834,935.41)dollars, as itemized hereinafter, pursuant to the Claim Purchase Agreements between the plaintiff and the following:
a. Comtax Services Inc.- $107,570.85;
b. Comtax CPN#4Residual- $ 6,207.28;
c. Comtax CPN#5- $ 71.291.51;
d. CM Research LLC- $365,000.00;
e. Accurate Stock- $ 43,455.12;
f. Michael Grubb- $ 7,571.43;
g. Slaven Drilling & Well Service- $ 9,554.40;
h. Vencedor Energy Partners- $835,000.00;
I. Lighthouse Investments- $133,248.50;
j. Matousek Peter.- $ 62,500.00; and
k. Womack Holdings, Inc.- $150,000.00
On September 5, 2014, a complaint (the “Complaint”) was filed against the Company in the Superior Court of Connecticut, Judicial District of Danbury (the “Court”) by Equity Capital Ventures, Inc. (“ECVI”) for the Company’s failure to pay $1,834,935 in debt obligations (the “Debt”) which ECVI had acquired from 11 persons (the “Debt Assignors”) through the execution of Debt Claim Purchase Agreements.
The Debt Assignors consist of creditors of the Company including insiders of the Company that voluntarily assigned all or a portion of their receivable from the Company to ECVI subject to approval of a court. By a Stipulation between the Company and ECVI, the Company has agreed to settle the Debt in reliance on the 3(a)10 exemption from the Securities Act of 1933’s registration requirements pending a fairness hearing before the Court. The Stipulation, if approved by court order, provides for the issuance of shares of the Company’s common stock to ECVI (the “3(a)(10) Stock Issuance”) for resale by ECVI, resulting in sale proceeds to ECVI of approximately $2,038,818. ECVI shall retain $203,883 of the sale proceeds and shall transfer and deliver the $1,834,935 balance to the Debt Assignors.
Should this action be approved by the Court, there will be dilution to the Company’s stockholders. There are no assurances that the Court will approve the Stipulation and the 3(a)10 Stock Issuance. Further, there are no assurances that should the Court approve the 3(a)10 Stock Issuance that there will be a market for the common stock that will be issued to the ECVI.
News 
Market Data 
Discover 
