Friday, February 15, 2013

STDR From $.02 to $.30 in Less Than Two Days

An 8k out yesterday brought in the buyers and they continue to buy the stock today.  The stock is up from $.02 yesterday to $.30 today only an hour into the trading session.

Share Exchange Agreement Between Standard Drilling, Inc. and The E-Factor Corp.

On February 1, 2013, we entered into an Acquisition and Share Exchange Agreement (the Exchange Agreement ” ) by and among (i) Standard Drilling, (ii) EFactor, and (iii) certain shareholders of EFactor, pursuant to which 20 holders of approximately 70% of the outstanding common stock of EFactor transferred to us 6,580,250 of the common stock of EFactor in exchange for the issuance of 50,000,000 shares (the “ Shares ” ) of our common stock and 5,000,000 shares of a yet to be created series of preferred stock to be entitled the “ Series A Convertible Preferred Stock ” (such transaction, the “ Share Exchange ” ). This transaction closed on February 11, 2013.  As a result of the Share Exchange, EFactor became our majority-owned subsidiary.  We are now a holding company with all of our operations conducted through EFactor, which primarily consist of owning, operating and administering certain assets related to a social media network, on- and offline content and interests in a subsidiary that conducts business operations such as EQMentor and certain other intellectual property, as more fully discussed herein.

1 comment:

Peggy Stoffel said...

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