BARON ENERGY, INC. (OTCMKTS:BROE) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities.
Inc. (“our, “us”) authorized the issuance of 2,661,290
shares of our common stock to our Chairman, President, and CEO,
Ronnie L. Steinocher, in lieu of $33,000 of cash compensation,
leaving $63,000 owed through September 30, 2016. The price per
share of $0.0124 was based on the average closing price of our
common stock for the last five trading days in September 2016.
Inc. (“our, “us”) authorized the issuance of 2,395,161
shares of our common stock to our Executive Vice President and
CFO, Lisa P. Hamilton, in lieu of $29,700 of cash compensation,
leaving $72,900 owed through September 30, 2016. The price per
share of $0.0124 was based on the average closing price of our
common stock for the last five trading days in September 2016.
4(2) of the Securities Act for transactions by an issuer not
involving a public offering. The recipient of our securities is
an “accredited investor” and he took them for investment
purposes without a view to distribution. Furthermore, he had
access to information concerning us and our business prospects;
there was no general solicitation or advertising for the
purchase of our securities; and the securities are restricted
to Rule 144.
| Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
on Form 8-K is incorporated herein by reference.
About BARON ENERGY, INC. (OTCMKTS:BROE)
Baron Energy, Inc. is an independent oil and natural gas production company. The Company is engaged in the acquisition, operation and exploitation of producing oil and gas properties in Texas. The Company is involved in acquiring and operating producing properties in South Texas. The Company’s focus area includes over 20 counties with approximately 12,000 producing leases, 122,500 wells drilled, and 1.6 million barrels of oil equivalent per day of production. BARON ENERGY, INC. (OTCMKTS:BROE) Recent Trading Information
BARON ENERGY, INC. (OTCMKTS:BROE) closed its last trading session down -0.00110 at 0.00690 with 17,728 shares trading hands.