Replies to post #20493 on Savoy Energy Corporation (SNVP)

[TRAPPER JIM]

From the 2012 filings
State the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 109.383,796 common shares as of November 8, 2011, which number does not include 100,000,000 shares which the Company has agreed to issue to its Chief Executive Officer, Arthur Bertagnolli (as described in greater detail under “Item 2. Unregistered Sales of Equity Securities and Use of Proceeds” below) as the Company does not currently have sufficient authorized, but unissued shares to affect such issuance .
At the bottom of page 1 https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8885612

And down at the bottom of this form. https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9107267


ITEM 8.01 OTHER EVENTS.

Effective February 21, 2013, Savoy Energy Corporation (the “Company”) and ASL Energy Corp. (“ASL”) mutually agreed to not renew a services agreement previously in place between the parties. ASL will remain a creditor and shareholder of the Company moving forward.

The Company also committed to ASL to become current with its required filings with the Secretary of State of Nevada and to bring the Company into “good standing” not later than close of business on February 21, 2013 (which action has been completed to date), such that certain corporate actions could occur, including but not limited to, beginning a process, with shareholder approval, to increase the authorized shares of the Company in order to provide sufficient authorized but unissued shares of common stock to allow for the issuance of shares in connection with exercise and conversion, as applicable, of outstanding warrants and convertible securities, as well as allowing for other corporate actions. The Company also agreed to provide ASL priority to the Company’s currently available authorized but unissued shares of common stock.




The Company and Mr. Bertagnolli (who holds Series A Preferred Stock providing him majority voting control over the Company as described below) agreed to execute those documents necessary to authorize the increase provided that the Company will need to seek funding from other sources for any costs associated with this corporate action and other matters. ASL has no obligation to provide additional funding to the Company for this or any purpose.




The Company would like to thank ASL for its service to the Company over the past year and compliment ASL on the level of service provided.