C04488-2021 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common shares | 4,660,267,714 |
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Subject of the Disclosure |
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Results of Board Meeting -Declaration of Delinquency |
Background/Description of the Disclosure |
The Board of Directors of Basic Energy Corporation, in its regular board meeting held on June 24, 2021, at which a quorum was present, and on motion duly seconded unanimously approved to formally declare the delinquent status of 472,500,000 unpaid Private Placement shares as of June 11, 2021 and shall be subject to auction sale pursuant to Section 66 and 67 of the Revised Corporation Code. |
Other Relevant Information |
See attached SEC Form 17-C. This refers to the unpaid 472,500,000 Private Placement shares out of the 1,462,500,000 Private Placement shares earlier disclosed on May 3, 2021 on the Changes On Number of Issued and Outstanding Shares |
Name | Angel Gahol |
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Designation | Corporate Secretary |