Attached files
| file | filename |
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| EX-10.1 - EXHIBIT 10.1 - Sylios Corp | ex101.htm |
WASHINGTON,
D.C. 20549
FORM 8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
Date of
Report (Date of earliest event reported): November 6,
2009
Adventure
Energy, Inc.
(Exact
Name of Registrant as Specified in its Charter)
|
Florida
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333-154799
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26-2317506
|
|
(State
of Incorporation)
|
(Commission
File Number)
|
(IRS
Employer ID)
|
33
6th Street South, Suite 600, St Petersburg, FL 33701
(Address
of principle executive offices)
(727)
824-2800
(Registrant’s
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instructions A.2. below):
/_/
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
/_/
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
/_/
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
/_/
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c)
Item
1.01 Entry into a Material Definitive Agreement
On
November 6, 2009, Adventure Energy, Inc., a Florida corporation (the “Company”),
entered into an asset purchase agreement dated as of November 5, 2009 (the
“Agreement”) with KYTX Oil & Gas, LLC, a Kentucky limited liability company
(the “Seller”). The asset acquisition is more fully described under Item 2.01 of
this Form 8-K, and the entry into material definitive agreements that have
created direct financial obligations which are more fully described under Item
2.03 in this Form 8-K.
Item
2.01 Completion of Acquisition of Assets
In
accordance with the terms of the Agreement, on November 6, 2009, the Company
purchased 15 wells from the Seller; all of the Seller’s lease hold interests
approximating 2000 acres; and an additional 30 previously drilled wells; and a
majority of the equipment and supplies owned by Seller related to Seller’s oil
and gas business (the “Assets”). The total purchase price for the Assets was
$120,000 (the “Purchase Price”). Upon the execution of the Agreement the Company
paid Seventy Thousand Dollars ($70,000.00) of the Purchase Price. The
balance of the Purchase Price will be paid by the Company within 90 days after
the closing. Seller will receive a royalty interest of three percent (3%) of the
gross proceeds from any currently producing wells or any successful rework
wells, and any new wells drilled on the real property covered by the
leases.
Item
2.03 Creation of a Direct Financial Obligation
As
described more fully above in Item 2.01, pursuant to the Agreement the Company
is required to pay $50,000 to the Seller within 90 days of the closing of its
acquisition of Seller’s Assets.
Item
9.01 Financial Statements and Exhibits.
(a)
Exhibits.
10.1
Asset Purchase Agreement between Adventure Energy, Inc. and KYTX Oil & Gas,
LLC.
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SIGNATURE
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Adventure
Energy, Inc.
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Date:
November 11, 2009
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By:
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/s/ Wayne
Anderson
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Name:
Wayne Anderson
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Title:
President
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