21 May 2007capital raising announcement● NeutralMajor
On May 17, 2007 Unicorp signed a deal with Cornell Capital for up to $7,000,000 of loans, with a $3,500,000 secured convertible debenture issued at closing and another $3,500,000 possible later. The debenture converts at $0.50 per share (reset downward if shares are later sold lower) and matures November 2009. Cornell also received warrants over 8,121,500 shares at $0.55 to $0.90, and the company pledged a security interest in its assets. Late registration could trigger penalties of 1% a period up to 12%. Conversion and warrants could dilute shareholders (inference).
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15 Aug 2005capital raising announcement● NeutralMajor
On August 8, 2005 Unicorp agreed with Cornell Capital Partners to sell up to $10,000,000 of common stock over time at 96% of the lowest closing bid, with Cornell keeping 5% of each advance. Advances are capped at $2,000,000 per five business days and depend on an effective registration statement. Cornell received 322,222 shares ($300,000) as a commitment fee, and the placement agent Monitor Capital received 11,111 shares. Selling shares this way may dilute existing holders (inference).
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24 Sept 2004capital raising announcement● Neutral
On September 1, 2004, Unicorp (now Striker Oil & Gas) issued 5,900,000 new common shares to five accredited investors for $75,000 in cash, with no commissions paid. The buyers were K.M. Casey No. 1 LTD. (3,450,000 shares for $50,500), Tommy Allen (1,250,000 for $12,500), Trevor Ling (450,000 for $4,500), Scott Gann (500,000 for $5,000) and Carl A. Chase (250,000 for $2,500). This is a small cash raise that dilutes existing holders. The filing is signed by Kevan M. Casey as CEO, and the largest buyer's name is similar to his (inference: possibly related, the filing does not say). Carl A. Chase also appears as a buyer; he appears later in the company's history as CFO.
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