Business Context and Reporting Period
This Form 8-K is a current report filed by GoEnergy, Inc. (not Prairie Operating Co.) on January 14, 2011. The filing addresses corporate governance changes, specifically the appointment of a new director to the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel and governance matters rather than financial performance.
Material Changes
The primary material change reported is the appointment of Mr. Vadim Mats as a member of the Board of Directors, effective January 14, 2010 (as stated in the text, though the report date is January 14, 2011). This appointment was approved by unanimous written consent of the directors and stockholders holding a majority of voting equity.
Guidance, Outlook, and Management Commentary
Management commentary highlights Mr. Mats' background, noting his role as Chief Financial Officer of FWS Capital Ltd. and prior experience at Eton Park Capital Management and The Bank of New York Mellon. The filing states that his experience in finance, accounting, and investment funds will be a significant asset to the Company's operations as a public company. No financial guidance or outlook is provided.
Compensation Terms: Under the Director Agreement dated January 18, 2011, Mr. Mats will receive 10,000 restricted shares of the Company's common stock for each quarter he serves on the Board.
Important Facts for Investor Verification
- Verify the effective date of the director appointment, as the text states "January 14, 2010" while the report date is "January 14, 2011."
- Confirm the total number of restricted shares issued to Mr. Mats based on the quarterly accrual terms.
- Review the attached Exhibit 10.2 (Director Agreement) for additional terms and conditions not summarized in the main text.
- Note that this filing contains no financial data; investors should refer to recent 10-K or 10-Q filings for financial metrics.