secwatch.observer — SEC 8-K summary
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Issuer:     SILVERTON ENERGY, INC. (—)
CIK:        0001508786
Form:       8-K/A
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001683168-24-003170
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 101.1, 2.01, 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Silverton Energy acquires AHIC and Agrawal oil & gas leases; $81M and $3.5M notes
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- Acquired AHIC Oklahoma oil & gas leases for $81M via 20-year non-interest bearing promissory note secured by assets; credit for investor intros.
- Acquired Agrawal working/royalty interests for $3.5M via convertible note into Class A common at market value within 13 months; $150K due in 6 months.
- Corrected ownership: CEO Samuel Smith 32,003,266 Class A shares (33.6%), COO John Long 30,000,000 (31.5%); total issued 95,100,000 shares.
- Assets held in escrow until full payment; AHIC can foreclose or convert $81M to preferred stock after 2044 default.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1508786/000168316824003170/0001683168-24-003170-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1508786/000168316824003170/silverton_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-003170

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