BigSur25 and all my other fellow shareholders:
Post# of 39368
Posted On: 08/22/2015 8:55:55 PM
BigSur25 and all my other fellow shareholders:
I summarize the keypoints of the 8K in bold below. When Chris was posting on the Secure FB page he described a reorg scenario to all. I responded to him and described TECO as a "shell company". The idea of a TECO shell and the merger with a private company. Chris' response was "your close". It has taken an act of God and much time for this to come about. I commend the new BOD for this reorganization. I'm hopeful they change the ticker symbol and CUSIP number. I'm not 100% sure but I believe it is the ticker symbol and CUSIP number that requires share counts and certificate accountability.
The CUSIP first six characters are known as the base (or CUSIP-6), and uniquely identify the issuer. Issuer codes are assigned alphabetically from a series that includes deliberate built-in "gaps" for future expansion. The 7th and 8th digit identify the exact issue. The 9th digit is an automatically generated checksum (some clearing bodies ignore or truncate the last digit). The last three characters of the issuer code can be letters, in order to provide more room for expansion.
• Treaty Energy (stock issuer) changed it's name to Trimerica Energy Corp
• Trimerica Energy Corp is now successor issuer to Trimerica Services Inc.
• Trimerica Services Inc merged with and into Trimerica Energy Corp with Trimerica Energy Corp the surviving company as a subsidiary of holding company (holding company only required to avoid the need for shareholder voting in the state Delaware). In my opinion this increased the speed at which all this could take place versus the need for shareholder votes. In my opinion shareholder votes could have been very expensive to accomplish and time consuming.
• All common stock and preferred stock was converted into identical shares of TECO on a 1/1 basis.
• In connection with the Holding Company Reorganization, the Predecessor changed its name from “Trimerica Energy Corporation” to “Trimerica Services, Inc.” and the Holding Company changed its name from “Trimerica Energy Holdings, Inc.” to “Trimerica Energy Corporation”
• On May 14, 2015. On that date, those new directors (Oral Glasco, John J. (“Sean”) Hickey and David Taylor) met for its first Board Meeting since the foregoing change of control, joining the two existing Board members (Christopher Tesarski and Andrew Kramer). All five Directors participated in such Board Meeting constituting, among other activities, an Organizational Meeting, engaging in a number of housekeeping details (selection of officers, auditor, bank, counsel, transfer agent, etc.) and received reports from its officers (Messrs. Tesarski and Kramer), counsel and management’s contracted outside accountant and outlining, among other matters, needed actions to affirmatively address litigation, funding and regulatory issues facing the Company.
I summarize the keypoints of the 8K in bold below. When Chris was posting on the Secure FB page he described a reorg scenario to all. I responded to him and described TECO as a "shell company". The idea of a TECO shell and the merger with a private company. Chris' response was "your close". It has taken an act of God and much time for this to come about. I commend the new BOD for this reorganization. I'm hopeful they change the ticker symbol and CUSIP number. I'm not 100% sure but I believe it is the ticker symbol and CUSIP number that requires share counts and certificate accountability.
The CUSIP first six characters are known as the base (or CUSIP-6), and uniquely identify the issuer. Issuer codes are assigned alphabetically from a series that includes deliberate built-in "gaps" for future expansion. The 7th and 8th digit identify the exact issue. The 9th digit is an automatically generated checksum (some clearing bodies ignore or truncate the last digit). The last three characters of the issuer code can be letters, in order to provide more room for expansion.
• Treaty Energy (stock issuer) changed it's name to Trimerica Energy Corp
• Trimerica Energy Corp is now successor issuer to Trimerica Services Inc.
• Trimerica Services Inc merged with and into Trimerica Energy Corp with Trimerica Energy Corp the surviving company as a subsidiary of holding company (holding company only required to avoid the need for shareholder voting in the state Delaware). In my opinion this increased the speed at which all this could take place versus the need for shareholder votes. In my opinion shareholder votes could have been very expensive to accomplish and time consuming.
• All common stock and preferred stock was converted into identical shares of TECO on a 1/1 basis.
• In connection with the Holding Company Reorganization, the Predecessor changed its name from “Trimerica Energy Corporation” to “Trimerica Services, Inc.” and the Holding Company changed its name from “Trimerica Energy Holdings, Inc.” to “Trimerica Energy Corporation”
• On May 14, 2015. On that date, those new directors (Oral Glasco, John J. (“Sean”) Hickey and David Taylor) met for its first Board Meeting since the foregoing change of control, joining the two existing Board members (Christopher Tesarski and Andrew Kramer). All five Directors participated in such Board Meeting constituting, among other activities, an Organizational Meeting, engaging in a number of housekeeping details (selection of officers, auditor, bank, counsel, transfer agent, etc.) and received reports from its officers (Messrs. Tesarski and Kramer), counsel and management’s contracted outside accountant and outlining, among other matters, needed actions to affirmatively address litigation, funding and regulatory issues facing the Company.
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