ToucanYoucan
4 days ago
Ch 7 Bankruptcy discharged 6/26/19
$REOS
This is from the Form 1-SA filed for 6/30/24
NOTE 1 β ORGANIZATION AND DESCRIPTION OF BUSINESS
Reostar Energy Corporation, formerly known as Gold range Resources Inc. (the βCompanyβ) was incorporated in the State of Nevada on November 29, 2004. The Company operated as Gold range Resources The company is an operating company whose purpose is to aggregate existing US based oil and gas production, develop proven undeveloped oil and gas reserves, and incorporate alternative clean energy sources. the US. The Company filed for bankruptcy on 11/01/2010 under Chapter 11 with the United States Bankruptcy Court, Northwest District of Texas, Fort Worth Division, under Caso No. 10-47176-MXM. The case was converted to a Chapter 7 filing on 04/15/2013. The case was open for 74 months. The Bankruptcy was discharged on 06/26/2019 leaving the Company at the time of discharge with no assets and no liabilities.
ToucanYoucan
2 years ago
$REOS - I see REOS is taking a dive this morning. I was thinking of picking up some.
At 12/31/21, the Outstanding Shares totaled 80,743,919.
At 2/13/23, per otcmarkets.com, it's at 88,343,919 - An increase of 7,600,000 shares.
Still a great share structure imo. Were the 7,600,000 shares issued as part of an acquisition or for a note?
It would be nice to see some current financial statements.
https://www.otcmarkets.com/stock/REOS/security
ToucanYoucan
2 years ago
$REOS - If we get more "news", we'll be below a penny! lol
But, seriously, it's just a LOI, so we'll see what happens.
If they are trying to put together a portfolio, it's actually a good idea to start out with some solid companies that have been around a while and produce some steady cash flow.
Or, put another way, you don't want to start out by acquiring a business that will suck cash out the company.
Remember, REOS has a totally clean balance sheet after the bankruptcy was administered for many years and finally discharged. The Balance sheet was basically zeroed out.