Marc Alan Bruner, Oil & Gas Tycoon

Bruner has some shady history and as far as billionaire goes Sir Terry Matthews , billionaire ran MCC into the ditch and shareholders wound up without so much as a penny. Billionaires can do stupid crap too. I think you are a little high with your numbers re value of lithium recovered per barrel but either way it makes no economic sense. Watch for gap fill at 50 cents.

Marc Alan Bruner, Chief Executive Officer of Paltar Petroleum, is the same Marc Bruner that was CEO of Falcon Gas and Oil in 2010 who went on tour with Wealth Masters International CEO Kip Herriage to promote Wealth Masters in Canada. Wealth Masters filed for an IPO which triggered the SEC to launch a full-blown investigation into Wealth Masters’ business activities which, apparently, wanted to know why Falcon Gas and Oil was doing in this.

The connection to Wealth Masters is one thing which immediately raises a “NEGY is due to get pumped” flag and a little bit of due diligence reveals:

In two separate court cases, Bruner has been accused of making misrepresentations, committed fraud, aiding and abetting a scheme to defraud, conspiring to defraud, Negligence/ Negligent Misrepresentation/ Negligent Nondisclosure, fraudulent concealment, unjust enrichment, vicarious liability, fraudulent transfer and breach of fiduciary duty.

Ouch!

Dig down one 8K deeper than the deal with Paltar and you discover : On November 18, 2014, the British Columbia Securities Commission revoked the cease trade order issued against the Company on August 21, 2009. Layman translation: the skull and crossbones was removed.

So we got a UK based sole director with a shell corp. based out of Vancouver B.C. doing an acquisition of an Australian oil and gas explorer run by a guy who’s had his own run in with the SEC in the past. Adding a little fuel to the fire, one of the numerous Form 3 filings from the beginning of October includes Jayco Investments Inc. of Barbados with the digi sig of David G. Csumrik, President of Biologix Hair Science Ltd. and Founder, Chairman and Chief Executive Officer of Longview Associates.

http://www.aimhighprofits.com/oil-may-be-down-but-nation-energy-negy-is-perking-up-2015-32803

Sweeney Litigation

On December 5, 2008, a lawsuit was filed in state court in Cook County, Illinois (“Sweeney litigation”) by eleven individual plaintiffs and Griffin Asset Management, LLC. The lawsuit alleges that defendants Richard N. Jeffs (“Jeffs), Marc Bruner (“Bruner”) and the Company through its agency with Bruner, made misrepresentations, committed fraud, aided and abetted a scheme to defraud, and conspired to defraud in connection with the plaintiffs’ investment in Brek Energy Corporation (“Brek”). The complaint alleges that plaintiffs’ relied on various misrepresentations and omissions by the individual defendants when making the decision to invest in Brek, which merged into the Company in December of 2007. Plaintiffs sought unspecified damages in an amount in excess of $50,000, punitive damages, attorneys’ fees, and costs. The Company removed the case to the United States District Court for the Northern District of Illinois, Eastern Division, on January 7, 2009 and answered the complaint, denying all liability, on February 13, 2009. A scheduling conference was held on April 1, 2009. The judge ordered fact discovery in the case to be completed by December 15, 2009 and set the trial for June 7, 2010. Following the scheduling conference, Jeffs was served with the complaint and filed a motion to dismiss all counts against him on the grounds that certain claims are barred by limitations, that plaintiffs lack standing to bring other claims, and that plaintiffs have failed to join an indispensable party (Brek).

During the fall of 2009, the parties began to engage in the early stages of discovery and numerous depositions were scheduled for late November and the first half of December, 2009. Prior to the start of depositions, however, on November 25, 2009, the parties reached an agreement in principle to settle the claims made against the Company and Bruner in the Sweeney litigation.

On December 4, 2009, while counsel for the Company was documenting the partial settlement, counsel for Jeffs sent a letter to the Company demanding that the Company (1) reimburse Jeff's for his defense costs to date in the Sweeney litigation; and (2) indemnify Jeff's for any judgment entered (or settlement made) in the Sweeney litigation. Jeffs' counsel claimed that Jeffs was entitled to such reimbursement and indemnification under the bylaws of Brek Energy Corporation that were in effect at the time of Brek’s merger into a wholly-owned subsidiary of the Company.

On December 9, 2009, Jeffs also filed an action in Colorado federal district court to obtain a declaration that the 550,000 shares of the Company’s stock being held in escrow under an agreement between the Company and Jeffs belong to, and should be released to, Jeff's pursuant to the terms of the escrow agreement (“Jeffs litigation”).

On or around December 18, counsel for the Company, Bruner, Jeffs, and plaintiffs reached an agreement in principle to settle all claims in both the Sweeney litigation and the Jeffs litigation. This global settlement was documented and finalized in February, 2010.

On February 5, 2010, counsel for the Company, Bruner, Jeffs, and plaintiffs filed an Agreed Motion for Dismissal with Prejudice of the Sweeney litigation. On February 9, 2010, the United States District Court for the Northern District of Illinois, Eastern Division entered a docket entry granting the parties’ Agreed Motion and dismissing the Sweeney litigation with prejudice. On February 10, 2010, a settlement payment was made to the Sweeney plaintiffs in connection with this dismissal with prejudice. On February 16, 2010, counsel for Gasco and Jeffs filed an Agreed Motion for Dismissal with Prejudice of the Jeffs litigation. On February 17, 2010, the United States District Court for the District of Colorado entered an Order of Dismissal with Prejudice. A settlement payment, which was accrued in the accompanying financial statements as of December 31, 2009, was made on February 17, 2010, following this dismissal with prejudice.

Source:

http://www.siliconinvestor.com/readmsgs.aspx?subjectid=58047&msgnum=46068&batchsize=10&batchtype=Next