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XTOG > SEC Filings for XTOG > Form 8-K on 12-Sep-2013All Recent SEC Filings

Show all filings for XTREME OIL & GAS, INC.

Form 8-K for XTREME OIL & GAS, INC.


Changes in Control or Registrant

Item 5.01 Changes in Control of Registrant.

On September 6, 2013, Willard G. McAndrew, III resigned as a director, officer, and employee of the Registrant. Mr. McAndrew is the sole holder of the Registrant's Nontransferrable Preferred Stock, and the aggregate number of votes to which the Nontransferable Preferred Stock is entitled to vote is equal to the number of shares of Common Stock or Common Stock equivalent of the Corporation issued and outstanding at the time of such vote multiplied by 1.1. Accordingly, the holder of such shares has voting control of the Registrant.

However, if the holder of Nontransferable Preferred Stock voluntarily ceases to become an employee of the Company, all such shares then held by such person shall be deemed, without further act on the part of any person, cancelled, and stock certificates formerly representing such shares of Nontransferable Preferred Stock shall thereupon and thereafter be deemed to be cancelled and returned to the Corporation. Accordingly, Mr. McAndrew no longer has control of the voting stock of the Registrant.

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