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| | Business Summary: ECCO Energy Corp. develops, explores and produces oil and natural gas properties in the United States. The company owns a 69% working interest in the Wilson Lease, which is located in the Nueces County, Texas. | | | Address 3315 Marquart St Ste 206
Houston
, TX 77027-6027
Phone: 713-771-5500
Fax: 713-771-5556
Website: http://www.eccoenergy.com
| | Auditor |
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Malone & Bailey
Houston | | Transfer Agent |
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Atlas Stock Transfer Co.
| Employees: 2 ShareHolders: 233 | Founded: 1989 Domicile: Nevada | | | |
| | ECCO Energy Corp. develops, explores and produces oil and natural gas properties in the United States. The company owns a 69% working interest in the Wilson Lease, which is located in the Nueces County, Texas. ECCO Energy is based in Houston, Texas. | | History: Incorporated in Nevada in June 2006, as SEI Acquisition Corp., a wholly owned subsidiary of Samurai Energy Corp. (Parent). Adopted Parent's name following the merger July 12, 2006 with ECCO Energy Corp. (incorporated in Nevada Sept. 20, 2004) on the basis of one Common share of Parent for three Common shares of ECCO Energy. Name changed to ECCO Energy Corp. Sept. 1, 2006.
Parent was incorporated in Delaware Aug. 2, 1994, as J.R. Bassett Optical, Inc.; and on Sept. 23, 1994, merged Optical Express, Inc., a Utah corporation. Name changed to Samurai Energy Corp. Nov. 28, 2005.
Optical Express, Inc. was incorporated in Utah Mar. 8, 1989, as Bluefield Enterprises; name changed to Optical Express, Inc. July 14, 1992. | | | | | | | | | |
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Management
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| Officers | Position |
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| Samuel M. Skipper | Chairman, President & Chief Executive Officer | | N. Wilson Thomas | Chief Financial Officer<Person>
<FirstName>N.</FirstName>
<MiddleName>Wilson</MiddleName>
<LastName>Thomas</LastName>
<Titles><![CDATA[Investor Relations Contact | | N. Wilson Thomas | Chief Accounting Officer<Person>
<FirstName>Raymond</FirstName>
<LastName>Ward</LastName>
<Titles><![CDATA[Chief Operating Officer |
| | Directors |
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| Samuel M. Skipper | | Raymond Ward | | | |
| | | | Capitalization as of 03/31/2008: | | | | | Authorized Shares | Outstanding Shares |
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| Common $0.001 par | 75,000,000 | 9,399,754 | | Preferred $0.001 par | 10,000,000 | 1,963,936so2 |
| | | | LONG TERM DEBT: $63,714. | | | | Common $0.001 par | | | |
Stockholders:
03/01/2008,
233.
| | PRINCIPAL STOCKHOLDERS: March 1, 2008, Samuel M. Skipper owned and contolled 56.6% of the Common and Richard A. Bobigian 13.1%. | | | |
Transfer Agent: Atlas Stock Transfer Co.
Murray
, UT | | | | OTC Bulletin Board( Primary): ECCE | | | | Exchange | Year | High | Low |
|---|
| OTC Bulletin Board | 2008 | 1.0100 | 0.0500 | | OTC Bulletin Board | 2007 | 1.5800 | 0.1500 | | Over The Counter | 2006 | 1.2500 | 0.1000 | | Over The Counter | 2005 | 0.1000 | 0.1000 |
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| | | | DIVIDENDS: Common $0.001 par: None.
Common $0.001 par was split 3-for-1, ex-Aug. 1, 2006. | | | | | |
so2Closely held. Consists of 100,000 shares of Series A; 1,000,000 shares of Series B; 660,000 shares of Series C; and 303,936 shares of Series D. | |
| | Annual Report |
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| | | Income Statement | |
| 2007 | 2006 |
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| Revenues | 469 | 486 | | Cost & exps. | 570 | 587 | | Oper. income as calculated | (101) | (101) | | Depr. & depl. | 83 | 96 | | Other exps. | 41 | -- | | Interest exp. | 16 | 38 | | Net income | (241) | (235) | | Share earns. basic | ($0.04) | ($0.03) | | Share earns. diluted | ($0.04) | ($0.03) |
| | | | Balance Sheet | |
| 2007 | 2006 |
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| Assets: |
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| | Cash and cash equivalents | 80 | 2 | | Accts. rec. | 35 | -- | | Total current assets | 115 | 2 | | Net property | 10,963 | 789 | | Deposits | -- | 2 | | Total assets | 11,079 | 793 | | Liabilities: |
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| | Curr debt. mat. | 706 | 81 | | Accts. pay. | 83 | 165 | | Accruals | 125 | 10 | | Tot. curr. liabs. | 913 | 257 | | Other liabs. | 63 | 41 | | Pfd. stk. p.$0.001 | 2 | 1 | | Com. stk. p.$0.001 | 9 | 9 | | Paid-in cap. | 10,821 | 874 | | Retained earns. | (730) | (389) | | Total liabs. | 11,079 | 793 |
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* On July 12, 2006 Samurai Energy Corp. (?Samurai?), ECCO Energy Corp., (?ECCO?), and SEI Acquisition Corp., (?Samurai Sub?) completed the transactions contemplated by the Agreement and Plan of Merger (?Agreement?), dated June 30, 2006. Under the terms and subject to the conditions set forth in the Agreement and in accordance with Nevada Law, Samurai Sub merged with and into ECCO. As a result of the Merger, each three shares of ECCO common stock issued and outstanding converted into the right to receive one fully paid non-assessable share of Samurai common stock, the separate corporate existence of Samurai Sub ceased, and ECCO was the surviving corporation in the Merger. Samurai issued 1,415,999 shares to ECCO shareholders. After completion of the transaction, ECCO became a wholly-owned subsidiary of Samurai and Samurai merged with and into ECCO, for the sole purpose of reincorporating into Nevada. On August 28, 2006, the reincorporation became effective resulting in Samurai continuing its corporate existence in the State of Nevada under the name ECCO Energy Corp. The acquisition has been accounted for as a business combination between entities under common control similar to a pooling of interests. | | | |
| | Interim Report
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| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2008 |
1 | 120,000 | | 2008 |
2 | 130,000 | | 2008 |
3 | 100,000 | | 2008 |
4 | 80,000 | | 2008 |
Full Year
| 430,000 | | 2007 |
1 | 130,000 | | 2007 |
2 | 120,000 | | 2007 |
3 | 90,000 | | 2007 |
4 | 140,000 | | 2007 |
Full Year
| 470,000 | | 2006 |
1 | 80,000 | | 2006 |
2 | 60,000 | | 2006 |
3 | 120,000 | | 2006 |
4 | 120,000 | | 2006 |
Full Year
| 490,000 | | 2005 |
4 | 240,000 | | 2005 |
Full Year
| 240,000 | | 2004 |
4 | 160,000 |
| | | | | | Quarterly Net Income, US$ |
|---|
| Year | Quarter | Revenue | | 2008 |
1 | Nil | | 2008 |
2 | Nil | | 2008 |
3 | Nil | | 2008 |
4 | Nil | | 2008 |
Full Year
| (1,150,000) | | 2007 |
1 | (30,000) | | 2007 |
2 | (40,000) | | 2007 |
3 | (50,000) | | 2007 |
4 | (160,000) | | 2007 |
Full Year
| (240,000) | | 2006 |
1 | 20,000 | | 2006 |
2 | (30,000) | | 2006 |
3 | (110,000) | | 2006 |
Full Year
| (235,000) | | 2005 |
Full Year
| 22,000 | | 2004 |
Full Year
| (8,000) | | 2003 |
Full Year
| (10,000) |
| | | | | | Quarterly EPS, US$ |
|---|
| Year | Quarter | Revenue | | 2008 |
1 | (.03) | | 2008 |
2 | (.04) | | 2008 |
3 | (.05) | | 2008 |
4 | (.10) | | 2008 |
Full Year
| (.22) | | 2007 |
1 | Nil | | 2007 |
2 | Nil | | 2007 |
3 | Nil | | 2007 |
4 | (.03) | | 2007 |
Full Year
| (.04) | | 2006 |
1 | Nil | | 2006 |
2 | (.02) | | 2006 |
3 | (.01) | | 2006 |
4 | Nil | | 2006 |
Full Year
| (.03) | | 2005 |
1 | Nil | | 2005 |
2 | Nil | | 2005 |
4 | .01 | | 2005 |
Full Year
| (.01) | | 2004 |
2 | Nil | | 2004 |
3 | Nil | | 2004 |
4 | Nil | | 2004 |
Full Year
| N/A | | 2003 |
1 | Nil | | 2003 |
2 | Nil | | 2003 |
3 | Nil | | 2003 |
4 | Nil | | 2003 |
Full Year
| Nil |
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