Past year: ▲ 142%(4.02 – 10.41 USD)
Each one in plain English, with the numbers worked through for a shareholder.
25 Mar 2005material agreement● NeutralMajor
Entered a management services agreement under which Tower Colombia provides HR, asset management and accounting for $30,000 a month, effective January 17, 2005. Tower is owned by O'Brien (American's chairman and CEO), Tholstrom (a director) and Bob Solomon, and the company announced a letter of intent to acquire it.
28 Sept 2004capital raising announcement▲ GoodMajor
Completed a private placement of 3 million shares at $1.50, raising $4.5 million gross and about $4.4 million net. The shares went to six institutional accredited investors.
What it means for a shareholder
3.0m new shares at $1.50 to raise about $4.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
19 May 2003auditor change● Neutral
On May 8, 2003 the board dismissed auditor Clyde Bailey and appointed Wheeler Wasoff as auditor for 2003. The filing says the reason was that management and the office location had changed, and it reports no disagreements and no adverse opinions from Bailey, who sent the SEC a letter agreeing. This amends an earlier May 2003 8-K on the same change.
13 May 2003auditor change● Neutral
Replaced auditor Clyde Bailey with Wheeler Wasoff after management changed and the head office moved to Casper, Wyoming; there was no disagreement over the accounts. Housekeeping that follows the change of control, not a warning sign.
5 May 2003asset acquisition disposition● Neutral
An amendment to the earlier 8-K confirms that on April 28, 2003 the company paid the remaining $415,365 to Tower Colombia and North Finn under the January 17, 2003 agreement, completing the 50% working interest purchase in undeveloped Montana and Wyoming leases (total $815,365 on the pro forma balance sheet). It also adds that the company agreed to buy 100% of the sellers' interest in certain leases including up to ten coalbed methane wells, and holds an option on 28% of a Minnelusa oil prospect in Campbell County, Wyoming. The assets are non-producing, so no separate financials were given; the filing includes unaudited pro forma statements showing no revenue and a 2002 net loss of $149,216.
5 Mar 2003asset acquisition disposition▲ GoodMajor
Paid $815,000 - only $400,000 of it at closing - for half of three Rocky Mountain prospects: Bear Creek coalbed methane in Montana, the Krejci oil and gas leases in Wyoming, and Powder River coalbed methane acreage. The sellers, Tower Colombia Corporation and North Finn LLC, become this company's two defining partners.
