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MAVO revoked:
http://www.sec.gov/litigation/admin/2013/34-69022.pdf
Checking this out for potential shell / merger deals. Let me know if anyone is hearing anything.
Been on this since open at .03 at first I was the only one on the bid, sold to someone at my bid .0315 passed me by and even though I have had my bid in over the bid it keeps skipping me. It jumped from .03 to .30 from .06 to 30 and now it's at .10 bid .095 ask .20 I'm at .12 and still nothing. Would have been a nice gainer, oh well, must be an MM in training.
This Information Statement has been filed with the Securities and Exchange Commission and is being furnished to the holders (the “Stockholders”) of the common stock, par value $0.001 per share (the “Common Stock”), of Maverick Oil and Gas, Inc., a Nevada corporation (the “Company”), to notify the Stockholders that on or about March 27, 2008, the Company received written consents in lieu of a meeting of stockholders from the holders of 59,334,286 shares of Common Stock (representing approximately 50.2% of the outstanding shares of capital stock of the Company having voting power) (the “Majority Stockholders”) approving a reduction in the number of issued and outstanding shares of the Company's Common Stock on a 1 for 50 basis (the “Reverse Split”). Once the Reverse Split becomes effective, each 50 shares of Common Stock held by a Stockholder will be reduced to 1 share, with fractional shares being rounded up to the next highest number of whole shares. The Reverse Split will not change the total number of shares of Common Stock and preferred stock the Company is authorized to issue.
On March 26, 2008, the Company's Board of Directors approved the Reverse Split, subject to stockholder approval. Since the Reverse Split has been approved by the Majority Stockholders, your consent is not required and is not being solicited in connection with the approval of the Reverse Split.
STRONG HOLD and strongest buy!!!!! LOOK Chart
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
yeeep
Yes and I always have right having been still and 500%;
make and becomes 50000%
WEEEEEEEEEEEEEEEEEEEEEEE
YEEEEEEEEEEEEP
You've been saying this for the last 3 months !!!
MVOG is *ready to move*check Chart!!!
next big run comming soon!!!
yeeeeeeep
Is this company still in business? I really like the chart but was wondering why the big drop from dollar range to pennies? Whats your take on this?
What amazes me is that I can't find one board anywhere talking about MVOG...
Interesting, well there has been some healthy accumulation going on for sure...
Haven't looked at this company for years,but I do remember maverick as having significant Fayette Shale leases although if I remember right they were drilling dry holes.
I also seem to remember that the owner of the Dallas Cowboys was once a principal in the company.lol
futrcash
buy this shake--time tu buy$$$$$$$$$$$$
i am loading!!!
yeeeeeeeeeeeep
i am not Ubberbiggly qualified,only have 110,000
The shares that would have cost you $3,000 at .003 are now worth $75,000 - congratulations if you own em!
NOTE 7. DISCONTINUED OPERATIONS
● Foreclosure of our Fayetteville Shale Project interests.
Effective January 8, 2008, our interest in the Fayetteville Shale Project were foreclosed upon through assignment of our interest in Maverick Woodruff County, LLC (which held our leasehold interests in the Fayetteville Shale Project), Maverick Operating, LLC (the licensed operator of our Fayetteville Shale Project) and miscellaneous seismic data and files related to our Fayetteville Shale Project. In consideration of the transfers evidenced by the Strict Foreclosure Agreement, our obligations under the 2007 Debentures were extinguished and certain mutual releases were provided. The balances and results related to our former subsidiaries Maverick Operating, LLC and in Maverick Woodruff County, LLC together with the related debt and interest obligation extinguished with foreclosure, are being reported as part of discontinued operations in the accompanying financial statements. We recognized a gain of approximately $3.9 million for the quarter and six months ended February 29, 2008 related to the disposal.
8
--------------------------------------------------------------------------------
· Barnett Shale Project:
On April 26, 2007, we completed the sale of our interests in the Barnett Shale project for net proceeds of approximately $22.5 million. The sale of our interest in the project was required as part of the terms of the secured convertible debentures. The cash received from the buyer was subject to post-closing adjustments based upon the net of total revenues and capital expenditures for the period January through April 2007. Our final settlement took place during November 2007.
· Whitewater Project:
During November 2007, we sold our interest in our Colorado-based Whitewater project. We initially sold a 30% interest in the project for $600,000, plus the pro rata assumption of all unpaid project costs since May 2006. Thereafter, we sold the remaining 70% interest in the project to one of our Fayetteville Shale project partners for $200,000, the discharge of approximately $1.4 million owed to this partner, and the assumption of the remaining unpaid project costs since May 2006. This asset was impaired to its expected realizable value of $2,000,000 in anticipation of a cash sale. The combination cash and discharge of debt transaction ultimately resulted in a gain of approximately $450,000 for the quarter ended February 29, 2008.
On December 4, 2007, we received notices of default from the holders of our senior Secured Convertible Debentures. Subsequently, on December 17, 2007, we entered into a Strict Foreclosure Agreement with the holders of our Secured Convertible Debentures under which they, effective as of January 8, 2008, foreclosed upon our interest in the Fayetteville Shale Project through foreclosure upon our interest in Maverick Woodruff County, LLC our wholly owned subsidiary (which holds our leasehold interests in the Fayetteville Shale Project), Maverick Operating, LLC (our wholly owned subsidiary, that is the licensed operator of our Fayetteville Shale Project) and miscellaneous seismic data and files related to our Fayetteville Shale Project. In consideration of the transfers evidenced by the Strict Foreclosure Agreement, our obligations under the Secured Convertible Debentures were extinguished and certain mutual releases were provided.
Following the foreclosure process, we terminated most of our personnel and ceased all oil and gas related operations as we will now attempt to identify business opportunities and financing that may be suitable for the Company. However, our remaining cash assets will only be sufficient to sustain us as an inactive company for the short-term. There can be no assurances that we will be able to identify a suitable business opportunity or the financing necessary to complete a transaction, or that any business we may acquire will generate profits or increase the value of the Company. If we are unable to execute on our business plan within the short-term, we will be forced to suspend all public reporting with the SEC and possibly liquidate.
Simply huge move here and not a peep on IHUB... Crazy, makes me think it might go even further...
1 left at .07
I sent an email in but probably won't get a responce, i might try calling tomorrow...
LOL....I saw it on Panetta's board on the 24th and jumped in.
Pure chart play for now. Maybe they hit something big..
Time will tell and green is good.
Something must be up here, I can't wait to find out what the hell it is!
Correct....STEW is new to me but I like their profile.
Only other stock I have noticed STEW on is SRSR...
http://www.collins-stewart.com/USBusiness/
Hmmm, indeed...:)
Maverick to sell Barnett Shale Properties for $22.5 million
Dallas, Texas — March 2, 2007
Maverick Oil and Gas, Inc. (OTCBB:MVOG) today announced that it has signed a Purchase and Sale Agreement for the sale of its interest in Barnett Shale properties for $22.5 million. These properties are located in Wise County, Texas.
Approximately $20 million of the proceeds of the sale of these properties will be used to repay a portion of our outstanding debentures and the remainder will be used for capital programs and working capital. Closing is expected to occur in early April 2007 following normal due diligence which is currently ongoing. This sale was required as part of the company’s earlier financings. The holders of our outstanding debentures originally required the closing to occur on or before February 28, 2007. They have agreed to extend this timeframe until the actual closing date without any penalties. The company is in discussions with these debenture holders to restructure the remainder of our outstanding indebtedness.
James A. Watt, Chief Executive Officer of the Company stated, “This sale allows us to reduce our overall debt and increase our operating flexibility. We will now be seeking new properties with near term cash flow to support our operations and complement our long term resource play in the Fayetteville shale of Woodruff County, Arkansas.”
About Maverick Oil and Gas, Inc.
We are an early stage independent oil and gas company engaged in exploration, exploitation, development and production. We currently participate in these activities through the interests we hold in oil and gas exploration and development projects in Arkansas, Texas and Colorado. We will seek to acquire other exploration and production properties and from time to time sell or trade interests in properties in an effort to maximize value for our shareholders. For more information about the Company, please visit our website at www.maverickoilandgas.com
I noticed an old property that might have sold for $22.5 million, maybe a cash divey...
That one is a stretch but the buying sure has been strong...
I bought into this, but I smell a P&D. The 10Q is dismal reading. There could be a reverse merger brewing, but I would also expect a reverse split.
MVOG very little chatter on ihub for this one but what a solid move, somebody is accumulating nice and quiet like...
What do you base that on?
MEGA EXPLOSION comming very soon 0,043
Maverick is the Hit 08/09
yep
Updated the Ibox too
Here is some interesting old news here...
Maverick to sell Barnett Shale Properties for $22.5 million
Dallas, Texas — March 2, 2007
Maverick Oil and Gas, Inc. (OTCBB:MVOG) today announced that it has signed a Purchase and Sale Agreement for the sale of its interest in Barnett Shale properties for $22.5 million. These properties are located in Wise County, Texas.
Approximately $20 million of the proceeds of the sale of these properties will be used to repay a portion of our outstanding debentures and the remainder will be used for capital programs and working capital. Closing is expected to occur in early April 2007 following normal due diligence which is currently ongoing. This sale was required as part of the company’s earlier financings. The holders of our outstanding debentures originally required the closing to occur on or before February 28, 2007. They have agreed to extend this timeframe until the actual closing date without any penalties. The company is in discussions with these debenture holders to restructure the remainder of our outstanding indebtedness.
James A. Watt, Chief Executive Officer of the Company stated, “This sale allows us to reduce our overall debt and increase our operating flexibility. We will now be seeking new properties with near term cash flow to support our operations and complement our long term resource play in the Fayetteville shale of Woodruff County, Arkansas.”
About Maverick Oil and Gas, Inc.
We are an early stage independent oil and gas company engaged in exploration, exploitation, development and production. We currently participate in these activities through the interests we hold in oil and gas exploration and development projects in Arkansas, Texas and Colorado. We will seek to acquire other exploration and production properties and from time to time sell or trade interests in properties in an effort to maximize value for our shareholders. For more information about the Company, please visit our website at www.maverickoilandgas.com
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