Attached files
| file | filename |
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| EX-99.1 - ADINO ENERGY CORP | v196448_ex99-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
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): September 10, 2010
ADINO
ENERGY CORPORATION
(Exact
Name of Registrant as Specified in Charter)
|
Montana
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333-74638
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82-0369233
|
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(State
or Other Jurisdiction of Incorporation)
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(Commission
File Number)
|
(I.R.S.
Employer Identification Number)
|
|
2500 City West Boulevard, Suite
300
Houston, Texas
77042
|
|
(Address
of principal executive offices)
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(281) 209 – 9800
(Registrant's
telephone number, including area code)
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:
|
o
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
o
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
|
|
o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
8.01 Other
Events
On
September 10, 2010, Adino Energy Corporation (“Adino” or the “Company”)
completed its acquisition of all of the membership interests of PetroGreen
Energy, LLC and AAC3M, L.L.C. d/b/a Petro 2000 Exploration. Adino and the
shareholders of these entities agreed to the purchase in July; however, Adino
and the sellers agreed to delay closing pending the completion of certain due
diligence matters.
The terms
of the purchase call for Adino to issue 10,000,000 shares of Adino common stock
to the sellers; however, these shares will remain in escrow until Adino’s stock
price closes at $0.25 or above. If this condition is not met within three years,
then the sellers have the option to repurchase the assets currently within the
companies for $1.00.
PetroGreen
Energy currently operates 11 wells on two leases covering approximately 300
acres in Coleman County, Texas. Petro 2000 Exploration owns a drilling rig, two
service rigs and associated tools and equipment, which will be used to drill and
develop additional wells. The Company also acquired the operator license held by
the principal of PetroGreen and Petro 2000 Exploration, Alex
Perales.
Attached
is a press release providing further information about this acquisition and
Adino’s future plans with respect to PetroGreen and Petro 2000
Exploration.
Item
9.01 Financial
Statements and Exhibits
(d) Exhibits
Press
release dated September 13, 2010
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this Form 8-K to be signed on its behalf by the undersigned hereunto
duly authorized.
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Adino Energy Corporation
(Registrant)
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By:
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/s/ Timothy G. Byrd, Sr. | |
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Timothy
G. Byrd, Sr.
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CEO
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Dated: September
13, 2010