Capital Stock and Additional Paid-in Capital
|6 Months Ended|
Jun. 30, 2018
|Notes to Financial Statements|
|Note 6 - Capital Stock and Additional Paid-in Capital||
The Company is authorized to issue 5,000,000 shares of Preferred Stock, par value $0.001 per share (the “Preferred Stock”), of which 50,000 have been designated as Series C Preferred Stock (the “Series C Preferred Stock”).
On December 4, 2017, Viking Energy Group, Inc. (the “Company” or “Viking”) filed with the State of Nevada an amendment to the Certificate of Designation for the Company’s Series C Preferred Stock, pursuant to which each share of Series C Preferred Stock would entitle the holder thereof to 10,000 votes on all matters submitted to the vote of the stockholders of the Company.
Each share of Series C Preferred Stock shall be convertible, at the option of the holder, at any time after the date of issuance into one share, at the office of the Corporation or any transfer agent for such stock, into one share of fully paid and non-assessable common stock. (the “Conversion Rate”).
On June 11, 2018, the Company filed a Schedule 14C Information Statement with the SEC regarding a prospective amendment to our Articles of Incorporation to increase the number of authorized shares of our common stock from one hundred million (100,000,000) shares to five hundred million (500,000,000) shares of common stock, par value $0.001 per share. Such amendment has not yet been filed but will be filed during the three months ended September 30, 2018.
During January 2018, the Company issued 250,000 common shares for services pursuant to a one-year consulting agreement.
During February and March 2018, the Company issued 668,500 common shares for services.
During the quarter ended March 31, 2018, pursuant to a private placement for debt and equity, the Company issued 4,110,000 common shares.
During April 2018, the Company issued 60,312 common shares in a cashless exercise of 402,084 warrants to purchase the common stock of the Company.
During the quarter ended June 30, 2018, the Company issued 2,363,248 common shares for services.
During the quarter ended June 30, 2018, pursuant to a private placement for debt and equity, the Company issued 3,664,856 common shares.