30 Dec Polar Petroleum Corp. (POLR) – hot enough to melt the ice?
PDAT has been on our radar for quite some time due to it being a James Parsons ticker. Recent corporate actions dictated that we put together a report to keep our members informed. Let's take a look:
S1 Attorney: James Parsons - Parsons/Burnett/Bjordahl/Hume LLP (NSRS, RARS, GWBU, DEWM, LEXG, NTEK, FHAI, TGRO, MKIT, CLSR, POLR, KORE, DTRO, TTXP, GREE, NMED)
Additional filing authors: rdickson, Anissa / Anissa Smith, Michelle Pride, Darryl (Darryl Mills)
nodummy shares thoughts in his GWBU report about Anissa Smith and Parsons/Burnett/Bjordahl/Hume.
All of the authors appear to be players in the Parsons network gang as all have authored multiple filings for the law group over the years.
rdickson authored filings for the 2012 Parsons ticker and mega mover Clear System Recycling, Inc (CLSR). CLSR went on to be attacked by infitialis with a hit piece on seeking alpha as well as promo tickers Delton, Inc (DTRO) and Kore Nutrition (KORE) amongst others.
Darryl Mills was original president and principal executive for the James Parsons shell, Project Development Pacific, Inc which went on to become current promo play, Trilliant Exploration (TTXP).
S1 CPA: BehlerMick PS
Original Director and Officer: Gerald O'Reilly
Bio for Gerald:
Mr. O'Reilly claimed to have many years of successful experience an educator, mentor and business manager. He appears to just have been your garden variety PE and Drivers Ed instructor much like the humble teacher I had for both when I was in high school. H
Mr. O'Reilly agreed to take the leading role in managing the Company, until the stock has been registered, the Company is fully operational and has retained full time professional management and staff.
Current Sole Director and Officer: Daniel Walker
Bio for Daniel
Mr. Walker claims to has over seven years of business management experience. From April 2011 to June 2012, Mr. Walker worked for Terrex Seismic, a seismic data collection company based in Brisbane, Australia.
From September 2008 to April 2011, Mr. Walker served as the general manager for E. F. M. Pty Ltd., an agricultural production company based in Cairns, Australia, where Mr. Walker managed the company’s day to day operations and marketing.
From January 2005 to September 2008, Mr. Walker was the Managing Director of DBI Freight Ltd., a mining logistics company based in North Yorkshire, England.
Mr. Walker supposedly was awarded a B.Sc. degree in Chemistry from an unnamed University in Great Britain in June 2004.
If it was real, why not say which school he went to?
POLR originally went public as Post Data, Inc., a Nevada corporation formed on March 22, 2011.
The address for Post Data, Inc. was 10160 – 114 Street, Suite 403 Edmonton, AB T5K 2L2 (780) 780-1433
Standard P&D action as they went public as a start-up stage company still in the development stage without revenues, zero cash, and without even the proverbial pot to **** **.
On March 25, 2011 PDAT sold 2,000,000 shares of its common stock to original CEO, Gerald O'Reilly at $.01 per share for a total of $20,000 cash to provide initial working capital.
The Company intended to market a service of decommissioning electronic data storage devices, making them inoperable, and thereby making the electronic data contained therein or on permanently un-recoverable.
No surprise here when that business plan never came to fruition. Not only that, but a guy downtown with a sledgehammer and an E Recycling truck could probably do a better job 😉
During August, 2011, the Company sold 2,845,000 shares at $0.01 per share for proceeds of $28,450.
[color]Adding a few officers to help the smokescreen:[/color]
On February 14, 2012, the Company appointed Bruce Hellinga as Secretary and Treasurer. On February 15, 2012, the Company appointed Monica McDermott as a Director.
Since 2002, Mr. Hellinga has lived in Edmonton where he works on machining and auto repair. He is expected to assist in the machining aspects of the Company’s business. Mr. Hellinga has never been an officer or director in any business. Mr. Hellinga was prepared to devote an astounding 10 hours per month to Post Data. Ms. McDermott was a bookkeeper and appears to have just been brought on board to make the business look as if it was actually doing something....
[color=red]Name, business and directors change:[/color]
Things ran status quo until July 30th when the pump and dump plan took it's next steps.
On July 30, 2012, Gerald O’Reilly resigned, Bruce Hellinga resigned, Monica McDermott resigned and Daniel Walker was appointed as the new President, Secretary, Treasurer and sole Director. Along with the resignation O'Reilly's 2,000,000 shares of common stock were transferred to Walker.
On July 30, 2012, PDAT's business address was changed to that of their registered agent in Nevada at 2248 Meridian Boulevard, Suite H, Minden, Nevada 89423, and phone number to (775) 345-3522.
During August 2012, the Company formed a wholly owned subsidiary, Polar Petroleum (AK) Corp. located in Juneau, Alaska. Polar's purpose is for oil and gas drilling and enables the Company to have a business license in Alaska.
Shares for Daniel Walker and Change of Control
On October 11, 2012, prior to the name change, Post Data, Inc. issued 1,000,000 shares of common stock to Daniel Walker, its sole officer and director as payment for services rendered and to give Walker control of the shell.
The issuance of Shares to Walker resulted in a change of control of the Registrant. As of October 11, 2012, Walker owned 3,000,000 shares of common stock , representing approximately 51.32% of the issued and outstanding.
On November 2, 2012, the Company effected a forward stock split of all issued and outstanding common stock on a 7 for 1 share basis. The Company’s stock was increased from 5,845,000 shares of common stock issued and outstanding to 40,915,000 million shares
Capital Change=shs increased by 7 for 1 split. Payable upon surrender.. Ex-date=11/06/2012.
[color=red]Name strikingly similar to a real business in Spokane, WA:[/color]
I wonder where they got the idea for Polar Petroleum?
Seeing that both James Parsons and MartinelliMick are based out of Spokane, WA...
and though it isn't a stretch to name a company out of Alaska "Polar", it also doesn't take a genius to see why they would steal the Polar Petroleum moniker also.
They are hoping to reel in a few fish with the name recognition of Polar Petroleum.
The pic at the beginning of the report is not to be mistaken as a petroleum tank for POLR by any means.
This 'real' Polar has a service center in Spokane, WA.
[color=red]The Oil Leases - Daniel K. Donkel and Samuel H. Cade ready for action once again[/color]
On November 5, 2012, Polar Petroleum (AK) Corp., closed a lease purchase agreement with Daniel K. Donkel and Samuel H. Cade where POLR acquired 100% of the record title of the Sellers to 17 oil and gas leases located in the State of Alaska, while reserving a royalty of 16.67% for the State of Alaska and a royalty of 4% for the Donkel and Wade, for a total purchase price of $1,250,000, with $150,000 of the purchase price due in cash at closing and the remaining $1,100,000 in the form of a promissory note.
As no surprise to me - Daniel Donkel and Samuel Cade have provided plenty of fodder for promotional campaigns before. Here in this filing by scam ticker Fox Petroleum (FXPT), Daniel and Samuel offered up their worthless leases for a previous promo campaign. Fox Petroleum was suspended by the SEC here. As usual, nodummy has great research about the unreal scam that FXPT is. Donkel and Cade have offered up their 'services' before that as well, here in this deal with another scam ticker, Bald Eagle Energy (BEEI).
In connection with the Purchase Agreement, the Subsidiary entered into a Promissory Note with the Sellers in the amount of $1,100,000.00. The Promissory Note bears an annual interest rate of 0.30% and is payable in installments of $125,000 due every three months for the first year, $100,000 due every three months thereafter and the final payment of $300,000 due on or before October 31, 2014. The Promissory Note is secured by terms and provisions of the Purchase Agreement. This brief description of the Promissory Note is only a summary of the material terms and is qualified in its entirety by reference to the full text of the form of Promissory Note as attached to this Current Report on Form 8-K as Exhibit 10.2.
Deal with unnamed foreign investor(s):
“I think the significance of this sale cannot be underestimated”
Donkel/Cade announced today that they have sold roughly 45,760 acres they had under lease from the state of Alaska to Polar Petroleum, a new independent oil and gas exploration and production company. Polar will now join the North Slope oil and gas companies both big and small to help stop the critical decline of the state's oil production.
Here is the full PR announcing their new deal with Polar Petroleum (AK) Corp.
as of November 14, 2012
OS: 40,915,000 (+1,500,000 PP shares not yet included in the most recent filing total will = 42,415,000)
Restricted (Daniel Walker): 21,000,000 (+ PP shares will = 22,500,000)
Seedholder free trading: [color=mediumblue]19,915,000[/color]
Polar Petroleum is a ticker on the fast track for a paid promotion. Just taken public in May of 2011, POLR has taken all of the steps necessary to launch a promotional campaign. We have promo giant and one of our top 10 attorneys, James Parsons, taking them public~ that in and of itself is enough reason to not let POLR get off your radar. We have Donkel and Cade on board providing their notorious promo fodder. With those 17 oil leases in place and seedholders holding the bounty in their icy palms - makes sense that they will be burning the midnight oil sooner than later. For those reasons we have placed POLR on our list of stocks on watch for future paid promotion.