OTC Bulletin Board

S & P Company Insight for STAR ENERGY CORP
 
 Profile

 
Business Summary: Star Energy Corporation, in the development stage as of March 31, 2008, has shifted its focus from domestic energy operations to operations situated in the Commonwealth of Independent States that are considered emerging markets, with a particular focus on opportunities in Ukraine.
 
Address
  317 Madison Ave., 21st Floor
  New York , NY 10017-5208
  Phone: 212-500-5006
  Fax: 212-986-7691
  Website: http://www.starenergycorp.com
Auditor
  SF PARTNERSHIP, LLP
Transfer Agent
  Interwest Transfer Co. Inc.
Employees:  5
ShareHolders:  89
Founded:  1999
Domicile:  Nevada
 
  
 
 Background

 
Star Energy Corporation, in the development stage as of March 31, 2008, has shifted its focus from domestic energy operations to operations situated in the Commonwealth of Independent States that are considered emerging markets. In particular, Star Energy is seeking to capitalize on the opportunities it believes are available to the company in Ukraine. With the disposition of certain wells and the rescission of an acquisition in 2006 and 2007, the company (as of March 31, 2008) is not engaged in an active business. Although it was in discussions regarding potential acquisitions as of May 2008, Star Energy was not at that time a party to any agreement to acquire properties or rights with respect to oil or gas properties or production. Star Energy Corporation was founded in 1999 and is headquartered in New York, New York.
History:  INCORPORATED in Nevada Dec. 10, 1999, as Cairo Acquisitions, Inc.; name changed to Star Energy Corp. Nov. 21, 2002. October 6, 2006, acquired Volga-Neft Limited Company for 10,000,000 Common shares. Subsequently, the company decided to seek, and obtained, rescission of the transaction through a rescission agreement dated June 14, 2007. Under the rescission agreement, the company returned the shares of Volga-Neft it received to the former stockholders of Volga-Neft who, in turn, returned to the company the 10,000,000 shares of the company's Common stock that had been previously issued to them, and the company cancelled those shares. In addition, Volga-Neft issued a $4,200,000 promissory note in the company's favor to repay $3,000,000 of loans made to Volga-Neft since the acquisition and to reimburse the company for costs and damages incurred by the company. The company, in turn, sold the promissory note to a non-related third party on a non-recourse basis for $3,000,000.
 
Subsidiaries:
Anglo-Ukr-Energy LLC
Cosmonite Limited
 
 
 
 
  
 
 Management

 

Management
OfficersPosition
 Elena  FurmanInvestor Relations Contact

Directors
 F. Bryson Farrill
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20072006
Operating Expenses7,791,565493,873
Depreciation2,384--
Interest income22,270--
Costs associated with the rescission of the stock purchase agreement--650,000
Gain on sale of marketable securities9,678--
Gain on debt forgiven--30,000
Foreign exchange loss(1,369)--
Debenture interest1,120,928--
Income tax1,300--
Inc. fr. contng. opers.(8,885,598)(1,113,873)
Discontd. opers.--(56,138)
Net income (8,885,598)(1,170,011)
Share earns. fr. contng. opers. basic & diluted($0.30)($0.04)
Discontd. opers. per share basic & diluted--Nil
Net income per share basic & diluted($0.30)(0.04)
Average shares30,167,50030,734,375
 
Balance Sheet
  20072006
ASSETS
Current
Cash1,048,7201,703
Investment in Volga-Neft --11,700,000
Prepaid expenses and other current assets34,5561,080,890
Loan receivable from Volga-Neft --1,000,000
Total Current Assets1,083,27613,782,593
Equipment31,337--
Debt Issuance Costs 427,358--
Total Assets1,541,97113,782,593
Liabilities-
Current Liabilities:
Accounts payable60,859375,327
Accrued liabilities389,297665,000
Advance from related party--2,785
Loan payable--1,000,000
Total Current Liabilities450,1562,043,112
Convertible Debentures7,358,179--
STOCKHOLDERS' EQUITY
Common stock, par value $0.001 per share33,86638,738
Additional Paid-in Capital3,794,69012,910,065
Retained earnings(10,094,920)(1,209,322)
Total Stockholders' Equity(6,266,364)11,739,481
Total Liabilities and Stockholders' Equity1,541,97113,782,593
Common Shares33,865,50038,737,500
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2008   1Nil
  2008   2Nil
  2007   1Nil
  2007   2Nil
  2007   3Nil
  2007   4Nil
  2007   Full Year Nil
  2006   Full Year 30,000
  2005   Full Year 60,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2008   1N/A
  2008   2N/A
  2008   3N/A
  2007   1N/A
  2007   2N/A
  2007   3N/A
  2007   4N/A
  2007   Full Year (8,890,000)
  2006   Full Year (1,170,000)
  2005   Full Year (36,000)
  2004   Full Year 10,000
  2003   Full Year 10,000
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2008   1(.04)
  2008   2(.02)
  2008   3(.02)
  2007   1(.06)
  2007   2(.06)
  2007   3(.06)
  2007   4(.10)
  2007   Full Year (.29)
  2006   Full Year (.04)
  2005   Full Year N/A
 
  
 
 Stock Data

 
 
Capitalization as of 03/31/2008:
 
 Authorized SharesOutstanding Shares
Preferred $0.001 par5,000,000None
Common $0.001 par225,000,00033,865,500
 
LONG TERM DEBT: $7,374,864.
 
Common $0.001 par
 
Stockholders:  03/31/2008, 89.
Transfer Agent:  Interwest Transfer Co. Inc.   Salt Lake City , UT
 
OTC Bulletin Board( Primary): SERG
 
ExchangeYearHighLow
OTC Bulletin Board20080.23000.0100
OTC Bulletin Board20074.38000.1800
OTC Bulletin Board20064.08000.4900
 
DIVIDENDS: Common $0.001 par: No cash. Common split 5-for-1, Dec. 30, 2005.