The PIPE”s Report takes a look at the Securities Exchange Commission (SEC) investigation into Sun River Energy for potential securities fraud. The article also touches on some of the issues in Sun River Energy’s litigation with Nova Leasing, LLC.
Sun River Energy’s Auditor Resigns
Sun River Energy (SNRV), the PIPE issuer that is involved in multiple lawsuits to take back restricted stock from contractors and other investors, said its auditor LBB Associates Ltd.LP resigned on Dec. 21.
Micro-Cap Review Article – Performing Due Diligence on a Micro-Cap Oil & Gas Company
This is a reprint of the article “Performing Due Diligence on a Micro-Cap Oil & Gas Company” written by Erik Nelson, President of Coral Capital Partners, Inc. that was published in the Fall, 2011 edition of Micro-Cap Review Magazine. It takes a look at some of the essential items to consider when evaluating a micro-cap oil and gas company as a potential investment. It is an excellent primer on understanding the various terms and their definitions when looking at a potential oil and gas investment. This is the 2nd article authored by Erik Nelson to be published in Micro-Cap Review Magazine, and the 1st through Coral Capital Partners.
A Stock Pump and Dump with False Press Releases
Coral Capital Partners takes a look at an SEC enforcement action against a company and the individuals associated with it in an alleged stock pump and dump. This is a well written complaint by the SEC that is an interesting one to read.
FINRA’s Sanction of Broker/Dealers for Lack of Conducting Reasonable Due Diligence
FINRA recently issued Regulatory Notice 10-22 which requires broker/dealers to conduct or obtain reasonable due diligence on companies whose securities they sell in private placements through the Regulation D exemption. Coral Capital Partners looks at recent FINRA sanctions of broker/dealers, and their personnel for failure to conduct a reasonable due diligence review of companies for which they raised funds for through private placement sales under Regulation D.
Sun River Energy Pitches Investors on $39M to Fund Drilling Budget for 2012
Sun River Energy is attempting to raise $39 million