OTC Bulletin Board

S & P Company Insight for US NATURAL GAS CORP
 
 Profile

 
Business Summary: US Natural Gas Corp, an independent oil and natural gas company, engages in the exploration, development, and production of oil and gas in the Appalachian Basin, primarily in Kentucky and West Virginia.
 
Address
  33 6th Street South, Suite 600
  St. Petersburg , FL 33701
  Phone: 727-824-2800
  Fax: 815-846-0755
  Website: http://www.adventureenergy.com
Auditor
  LGG & Associates, PC
Transfer Agent
  Olde Monmouth Stock Transfer Co., Inc.
Employees:  2
ShareHolders:  58
Founded:  2008
Domicile:  Florida
 
  
 
 Background

 
US Natural Gas Corp, an independent oil and natural gas company, engages in the exploration, development, and production of oil and gas in the Appalachian Basin, primarily in Kentucky and West Virginia. It maintains leaseholds on mineral rights covering approximately 5,700 acres in addition to rights of way in Kentucky and 11,000 acres in West Virginia. The company is based in St. Petersburg, Florida.
History:  INCORPORATED in Florida Mar. 28, 2008. Name changed from Adventure Energy, Inc. to US Natural Gas Corp. Apr. 14, 2010.
 
 
 
 
  
 
 Management

 

Management
OfficersPosition
 Wayne  AndersonChairman, President, Secretary, Treasurer, Chief Financial Officer, Chief Accounting Officer & Chief Executive Officer

Directors
 Jim  Anderson
 Wayne  Anderson
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20092008
Revenue44,191-
Cost of oil and gas operations57,380-
Selling, general and administrative exps.333,14441,562
Stock issued for legal services125,851437,500
Stock issued for consulting and other services1,147,902272,090
Amortization21,661-
Net gain from marketable equity securities13,8591,602
Interest expense10,827-
Net income(1,638,715)(749,550)
Share earns. basic(0.10)(0.07)
Share earns. diluted(0.10)(0.07)
 
Balance Sheet
  20092008
ASSETS
CURRENT ASSETS
Cash and cash equivalents26,48820,299
Accounts receivable, other97,900-
Marketable equity securities-6,450
Materials and supplies15,000-
Prepaid expenses21,000-
Notes receivable, current50,000-
Total current assets210,38826,749
Oil and gas properties224,4746,000
Notes receivable1,225,000-
Debenture escrow99,190-
Investments72,900-
Other assets150,473-
Total assets1,982,42532,749
LIABILITIES AND STOCKHOLDERS EQUITY
CURRENT LIABILITIES
Accounts payable and accrued expenses282,745-
Advances due related entities, net86,752-
Notes payable, current595,868-
Loans payable-other23,000-
Loans payable-shareholders85,100-
Convertible debenture payable50,000-
Total current liabilities1,123,465-
Notes payable900,000-
STOCKHOLDERS EQUITY
Preferred stock Series A1,000-
Preferred stock Series B300-
Common stock22,18612,240
Additional paid in capital2,323,739770,059
Deficit accumulated during the development stage(2,388,265)(749,550)
Total stockholders equity(41,040)32,749
Total liabs.1,982,42532,749
 
  
 
 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
  2009   350,000
  2009   4(10,000)
  2009   Full Year 40,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2009   1(190,000)
  2009   2(950,000)
  2009   3(350,000)
  2009   4(140,000)
  2009   Full Year (1,640,000)
  2008   4(500,000)
  2008   Full Year (1,010,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2009   1(.02)
  2009   2(.07)
  2009   3(.02)
  2009   4(.01)
  2009   Full Year (.10)
  2008   2Nil
  2008   3(.04)
  2008   4(.04)
  2008   Full Year (.07)
 
  
 
 Stock Data

 
 
Capitalization as of 12/31/2009:
 
 Authorized SharesOutstanding Shares
Common $0.001 par50,000,00022,185,910
Preferred $0.001 par5,000,0001,300,000so2
 
LONG TERM DEBT: $900,000.
 
Common $0.001 par
 
Stockholders:  04/12/2010, 58.
Transfer Agent:  Olde Monmouth Stock Transfer Co., Inc.   Atlantic Highlands , NJ
 
OTC Bulletin Board( Primary): UNGS
 
ExchangeYearHighLow
OTC Bulletin Board20090.68000.0400
 
DIVIDENDS: Common $0.001 par: No cash. Common split 1,000-for-1, April 2008.
 
 
  so2Closely held. Consist of 1,000,000 Ser. A; and 300,000 Ser. B shares.