Business
Eagle Oil Holding Company Inc. (EGOH:OTC) discusses the Financing of the Company.
Eagle Oil Holding Company Inc. (EGOH:OTC) discusses the Financing of the Company..
About this update from Green Stream Holdings Inc.
[{"type":"text","content":"\n \n Normal\n 0\n \n \n \n \n \n \n MicrosoftInternetExplorer4\n \n\n\nAugust 14, 2013 \n\nConnie Helwig, sole\ndirector of Eagle Oil Holding Company Inc. is pleased to update shareholders on\nits fundraising initiatives. \n\n \n\nUpon Ms. Helwig's\nappointment as a director last month, the company had very\nlittle cash and a disproportionate amount of liabilities. However, because\nof the acquisition of the Frank Farm lease, the consultant for the company was willing to invest funds that\nwere used to pay some overdue bills and to send monies to the operator to\nbegin work on the lease. Ms. Helwig convinced the consultant to accept the use of convertible debt as consideration since the company now had\nan asset and, in the event that the cash flow from operations was not\nenough to pay back the money borrowed; he could convert his debt into\nshares as an exit strategy. \n\n \n\nEagle Oil is now in talks\nwith other parties that want to invest monies into the company in the same manner. This should allow the company to bring both\nleases into production so that additional financing will not be needed in the\nfuture. Development costs for the remainder of the\nlease should be self-financed once a good portion of the wells are reworked due to the cash flow\nprovided by oil production.\n\n \n\nFurther updates will be\nforthcoming.\n\n \n\nForward- Looking\nStatements\n\nSafe Harbor Statement: This press release contains\nforward-looking statements that reflect the Company's current expectation\nregarding future events. Actual events could differ materially and substantially\nfrom those projected herein and depend on a number of factors. Certain\nstatements in this release, and other written or oral statements made by Eagle\nOil Holding Co. are ?forward-looking statements? within the meaning of Section\n27A of the Securities Act of 1933 and Section 21E of the Securities Exchange\nAct of 1934. You should not place undue reliance on forward-looking statements\nsince they involve known and unknown risks, uncertainties and other factors\nwhich are, in some cases, beyond the Company's control and which could, and\nlikely will, materially affect actual results, levels of activity, performance\nor achievements. The Company assume...