updated: Tuesday, February 24, 2004 5:34 pm EST
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| NNCO 0.0195 +0.0024 +14.04% 4:00 pm 2/24/04 3.1M vol |
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Nannaco Inc.
Andrew DeVries, III, CEO of Nannco Inc., announced a new
business strategy to be effective January 1st, 2004. NANNACO will
direct all its efforts to building a holding company which combines
accretive acquisitions of development stage firms in its areas of
expertise, mainly environmentally friendly manufacturing and production
companies, fuel production and manufacturing companies, and cleaning
services companies. This change is expected to dramatically increase
operational performance, and bring NANNACO to a break even monthly run
rate by June 2004. NANNACO recently announced a joint venture with
Innovation Energy and Technology, LLC (IE&T).
As of September 30, 2003 there were 33M shares of common stock outstanding (as per the 10Q filed feb 9, 2004 All NNCO Sec filings |
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Nannaco Incorporated
Address: 935 Thousand Oaks Suite 6, San Antonia, TX 78247 Phone: 210-545-3570 210-496-7566 Company Website: www.nannaco.com Officers: Andrew Devries III PR/CEO/CB Linda Morton SEC/TR/DIR Mark A. Triesch DIR The Joy Foundation BO Shares Outstanding: ??? Estimated Market Cap: ??? State of Incorporation: TX Transfer Agents (T/A):??? |
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| PR List | AQFS to Purchase Surety Bond: Valued $6 M | up / down |
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SAN ANTONIO, Feb 11 10:45am EST /PRNewswire-FirstCall/
-- NANNACO, Inc. (BB:NNCO) today announced that its wholly-owned subsidiary, American Qualified Financial Services (AQFS) will purchase a discounted Guaranteed Surety Bond from a private company in Houston, TX. The value of the purchase after initial collateralization will exceed $6,000,000.00 (six million).
"We have been looking for this initial opportunity for quite some time," said Andrew DeVries, III, President and CEO of NANNACO, Inc. "Allen Mullins (President of AQFS) has truly outdone himself in orchestrating this transaction." The acquisition of the Surety Bond is intended for future collateralizations as AQFS (a recently chartered Texas Corporation) moves forward in its plans to offer higher yielding alternatives to non-securities based savings plans, both qualified and non-qualified. NNCO 0.021 (Unchanged) "We truly were fortunate to discover this opportunity when we did," said Mullins. "Andrew has focused so intently on NANNACO, Inc. and recent filing logistics. The timing of this instrument will also serve in our ability to keep on track with our own schedules regarding the development of this project." NANNACO, Inc. currently has 8 project development, joint venture, and consultancy agreements for emerging companies. Source: NANNACO, Inc. |
| PR List | SEC Filing Requirements Completed;
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SAN ANTONIO, Feb. 11 9:40am EST /PRNewswire-FirstCall/
-- NANNACO Inc. (BB:NNCO) today announced that it has completed the filing requirements of the SEC, and is ready to commence with its new area of core business concerns.
"It's like waking up from a nightmare and realizing that you've been awake the whole time ... and it REALLY wasn't a dream," said Andrew DeVries, III, President and CEO of NANNACO, Inc. "The undertaking of a new area of work, a change of Auditors, and some of the weirdest circumstantial events I've ever experienced ... like your key bookkeeper falling down a flight of stairs and injuring himself with the filing date looming overhead, or an envelope critical to completion grounded on a courier plane during a blizzard ... I need a vacation ... the kind where you are pampered by time and you can get accomplished the things you've set out for the supporters of the Company and the long-term goals that will effect everyone involved with NANNACO. NNCO 0.021 (Unchanged) "Scott Salberg and his team did a great job of getting this done; he deserves a great deal of appreciation for anyone concerned with our future. I fully expect Scott and his group to keep us ahead of the curve in terms of efficiency and timely filings from here on out," DeVries further stated. "I'm ready to get back to the work I'm best at, and now we are able to do just that." NANNACO, Inc. currently has 8 project development, joint venture, and consultancy agreements for emerging companies. Source: NANNACO, Inc. |
| PR List | New Consultant: Bartholomew International Investments And John Hartley to Advise in Logistics of $150M L/C Transaction | up / down |
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SAN ANTONIO, Jan. 29 10:27am EST /PRNewswire-FirstCall/ -- NANNACO, Inc. (OTC Bulletin Board: NNCOE - News) today announced that it has retained the services of John Hartley and Bartholomew Investments, London to aid and further negotiate the transactions required to fulfill its obligations pertaining to a $150M Stand-by Letter of Credit (SBLC) that is now set for its initial draw- down.
"We will keep our first orders located nearby," said Andrew DeVries, III, President and CEO of NANNACO, Inc. "The logistics here are familiar and we are able to deal with trusted colleagues that will ensure accuracy, efficiency, and nothing less than the complete perfection we expect in this undertaking." "John Hartley's experience is far greater than most in terms of handling the financial and transportation issues involved in these types of transactions. We can all rest assured that every base is covered as we move forward in exceeding the expectations of our client and our shareholders. I have no doubt that his contributions to our efforts will expedite the confidence in our client to maintain the L/C value and invoke its scalability to higher denominations in the very near future," said DeVries. NANNACO, Inc. currently has 8 project development, joint venture, and consultancy agreements for emerging companies. Statements in this news release that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results are forward-looking. Forward-looking statements involve risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from those expressed. These uncertainties and risks include changing consumer preferences, lack of success of new products, loss of the Company's customers, competition and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission. For more information, please contact the Company at (210) 496-7566, or send correspondence to: NANNACO, Inc., 2935 Thousand Oaks, #261, San Antonio, TX 78247. Source: NANNACO, Inc. |
| PR List | New Auditor Expects Timely Completion of Required Filings | up / down |
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SAN ANTONIO, Jan. 23, 11:59am EST /PRNewswire-FirstCall/ -- NANNACO, Inc. (BB:NNCO and NNCOE) today announced that it has retained the services of a new auditor, Salberg and Company, P.A. of Boca Raton, Florida, to act as auditors for the company's financial filings. According to NANNACO, Inc. CEO Andrew DeVries, the change to a larger, more highly visible accounting firm became necessary because of the company's intended objectives as a diverse holding company. "Our business has become much more complicated," said DeVries. "The hand-off between auditors has been a challenge, but it's a move that we really needed to make at this time. In the long run, our shareholders will definitely benefit from the efficiency and expertise that Salberg and Company will bring to our organization. A firm like this one has the experience and resources we must rely upon as we move into a new area of endeavor." DeVries further stated that the new auditors will have NANNACO's Annual Report (10-KSB) completed in the very near future. "After this transitional period, we foresee smooth sailing for our future filings and audited reports," he concluded. "I'd sure like to see a long, successful relationship with this firm. I think it is a good fit for both companies."
NANNACO, Inc. currently has 8 project development, joint venture, and consultancy agreements for emerging companies. source |
| PR List | NANNACO, Inc. Offered $11M/Yr. in Crude Order Fill; Forecasts $4M in Revenues | up / down |
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SAN ANTONIO, Jan. 21 , 09:30am ET /PRNewswire-FirstCall/ -- NANNACO, Inc. (BB:NNCO) today announced a third supply source for its purchase and management agreement concerning the acquisition of raw materials, petrochemical, and primary derivative sales. NANNACO has begun and expects to finalize an agreement today with Tony Aguilera of Gryphon Partners, LLC to negotiate and acquire crude and other petrochemical product materials from non-domestic production points, beginning with Venezuela, where an offer to fill an allotment equal to approximately $11M/yr. of a previously-reported Primary Beneficiary SBLC has been tendered to the company.
NNCO 0.032 (Unchanged) "I've known Tony for a number of years. His experience in international trade, contract negotiations, and I.C.C. regulations will be invaluable to any and all non-domestic Seller-side sources regarding our $150M Standby Letter of Credit (SBLC)," said Andrew DeVries, NANNACO, Inc.'s president and CEO. "Gryphon Partners is exactly the organization we need at this time. It looks as if we will be fielding many offers from sources outside the U.S. Tony and his team are more then capable of validating these sources." NANNACO, Inc. currently has 8 project development agreements, joint venture and consultancy agreements for emerging companies. source |
| PR List | Nannco Announces Supplier Agreement:
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SAN ANTONIO, Jan. 20, 12:30pm ET /PRNewswire-FirstCall/ -- Today, NANNACO, Inc. (BB:NNCO) CEO Andrew DeVries, III announced an agreement with Mr. Tan Peng Koon of Corporate Exchange of the World, Inc. for the purpose of supplying the crude oil and primary derivatives in the $150M Letter of Credit announced on January 15, 2004. The terms of the agreement, if met by Mr. Koon, would produce revenues of $30M-plus for the Company. "Our contacts are very reliable and experienced in the oil brokerage business, and they will be able to perform the required tasks. We have no doubt that we will fulfill all requirements for this renewable SBLC project at least two times this year," Said Mr. Koon. "We anticipate our relationship with NANNACO to flourish in the coming months as our other suppliers come online with more and more products available." NNCO 0.032 +0.008 (33.33%) "Everything is moving as expected on this project, this accord was unexpected and a pleasant surprise as we head forward to our ultimate goal of complete and utterly flawless execution of our responsibilities under this transaction. We have found a reliable supply chain in Mr. Koon's organization. We see his experience and contacts as invaluable far beyond the scope of this initial purchase," said DeVries. NANNACO's expected earnings from should reach $30M over the next 12 months, and should grow upward to around $50M/yr. over the next 3 years as the Letter of Credit is renewed upon successive favorable transactions. The company currently has seven project development, JV, and Consultancy agreements for developing companies. NANNACO recently announced a change in its business strategy beginning January 1, 2004. source |
| PR List | Nannco in Receipt of $150M Letter of Credit | up / down |
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SAN ANTONIO, Jan. 15, 9:45 am ET /PRNewswire-FirstCall/ -- NANNACO, Inc. (OTC Bulletin Board: NNCO - News) today announced that it is in receipt of a much anticipated Standby Letter of Credit (SBLC) in the amount of $150M. The purpose of the SBLC is to facilitate for the issuer an avenue of energy purchasing (raw materials and primary derivatives) that is rather unprecedented in the industry. Instead of the larger terminals normally sought in this size transaction, NNCO plans to aggregate product directly from smaller, individual producers in the South, Southwest, and Coastal production fields of Texas. "With the invaluable assistance of IRC (previous release) and longtime colleague Allen Mullins, we've developed a method that places a benefit squarely on the bottom line of all parties in this arrangement," said Andrew DeVries, III, NNCO's President and CEO. "Volume for the small producer plus a fair price to the end buyer that helps in offsetting transport costs; this is the type of idea that spurs development on a community and even regional scale." The company intends to escrow the Letter of Credit as soon as possible and will begin the logistical procedures for initial tranches of the agreements in as few as ten (10) days. NANNACO, Inc. currently has 5 project development agreements, joint venture and consultancy agreements for emerging companies. source |
| PR List | Receives Commitment for $150M Credit Line | up / down |
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SAN ANTONIO, Jan. 14, 10:00am ET /PRNewswire-FirstCall/ -- Today NANNACO, Inc. (BB:NNCO) announced that International Resource Consultants (IRC) has been selected as the Production-side/Seller for the implementation and management of a $150MM Stand-by Purchase Letter of Credit issued (SBLC) to NNCO for the purchase of discounted energy resources (crude or primary derivatives). The L.O.C. issued by a Geneva based resources financing firm will arrive upon delivery of the first filled order. "I know we have the right supply side on our team now," said Andrew DeVries, III, President and CEO. "IRC has the experience in this type of operation that we've been looking for from the start. I feel strongly that IRC is the right fit to manage ongoing extensions of the SBLC and also the future expansions beyond this initial amount." NNCO 0.025 (Unchanged) The SBLC will be issued immediately upon the delivery by IRC of the product and information necessary to finalize a full transaction. The expected time frame for this is 3-5 business days. NANNACO, Inc. currently has 5 project development agreements, joint venture and consultancy agreements for emerging companies. Statements in this news release that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results are forward-looking. Forward-looking statements involve risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from those expressed. These uncertainties and risks include changing consumer preferences, lack of success of new products, loss of the Company's customers, competition and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission. For further information, please contact Andrew DeVries, III at (210) 496-7566, or send correspondence to 2935 Thousand Oaks, #6-261, San Antonio, TX 78247. source |
| PR List | Nannco Announces New Financial Service | up / down |
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SAN ANTONIO, Jan. 13, 12:03pm ET /PRNewswire-FirstCall/ -- NANNACO, INC. (BB:NNCO) today announced its intention to form a new subsidiary, AMERICAN QUALIFIED FINANCIAL SERVICES (AQFS). The purpose of the new company will be to provide higher-yielding rollover alternatives to Qualified Benefit Programs, individual investors, and participants in Non- Qualified Benefit Packages. "We have completed all the necessary Accounting and Legal requirements, and we are today filing with the State of Texas for a Charter as a C-Corporation," said Andrew DeVries III, NANNACO, Inc. CEO and President. "This arm of our intended holdings has a potential beyond anything we've endeavored previously. This market is virtually untouched, and the product is comprised of some of the world's most productive and time honored assets."
NNCO 0.025 -0.001 (3.84%) Co-founder Allen Mullins, who will serve as President of the corporation has already contacted several interested clients for AQFS. "The potential market for this type of instrument is are nearly mind-boggling in scope. This instrument meets the qualifications of most any type of fund, or can be utilized by individuals who are looking for safe higher-yield programs for cash accounts, IRA's, and other plans. I foresee no issues that could prohibit gross sales in the $2BB dollar range over the next 24 month period," said Mullins. "We already have received numerous inquiries from organizations interested in making our products available to their clients." Although highly proprietary in the distributor contract, DeVries said that the process and description of the instrument is based on proven financial fundamentals. "AQFS will provide price-certain assets at a discount to the purchaser with a time-certain payout date. Safety, high rate-certain yield, and the financial stability of those who issue these instruments are a great combination in any market, but particularly with today's uncertainty." Statements in this news release that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results are forward-looking. Forward-looking statements involve risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from those expressed. These uncertainties and risks include changing consumer preferences, lack of success of new products, loss of the Company's customers, competition and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission. For further information, please contact Andrew DeVries, III at (210) 496-7566 source |
| PR List | Seller to Initiate $150M Credit | up / down |
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SAN ANTONIO, Jan. 12, 10:30am ET /PRNewswire-FirstCall/ -- NANNACO, INC. (BB:NNCO) today announced that it has identified a Seller that meets the requirements to initiate and execute a $150MM Standby Letter of Credit placed under its management. The issuance of the SBLC was dependent upon NNCO's ability to find a seller in energy production raw materials.
"We expect this transaction to finalize within the current business week," said DeVries. "The Seller has agreed to the conditions of the Terms of the Issuer and has shown the ability to meet the capacity, price, and delivery requirements of the Purchaser, and we are moving forward with our recommendation to have the SBLC issued and drawn upon through NNCO on behalf of the Buyer. NNCO 0.021 -0.006 (22.22%) Revenues should total $6-9MM upon completion of the entire transaction, and the Seller side has initially agreed to a 30-60 day time frame to meet all of its obligations within this initial order fulfillment. Upon the satisfactory completion of the initial transaction between the two parties, the Purchaser has extended a Status of Renewal of the SBLC and an increase of the credit line of up to 300% if NNCO can demonstrate its ability to fulfill the requirements of both parties to their satisfaction. "We can look forward to a long and prosperous relationship with this situation," said DeVries. NANNACO, Inc., headquartered in San Antonio, Texas, is a holding company, which currently trades on the Over the Counter Bulletin Board, and is presently extending its holdings in various diverse sectors of the economy through mergers, acquisitions, and joint ventures. "Our ultimate goal is to take advantage of our position as a publicly traded company and build a consortium comprised of like-minded businesses in diverse markets," said DeVries. Statements in this news release that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results are forward-looking. Forward-looking statements involve risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from those expressed. These uncertainties and risks include changing consumer preferences, lack of success of new products, loss of the Company's customers, competition and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission. For further information, please contact Andrew DeVries, III at nannaco@sbcglobal.net source |
| PR List | Pending Receipt of $150M Credit | up / down |
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SAN ANTONIO, Jan. 8, 10:00am ET /PRNewswire-FirstCall/ -- Today, C.E.O. of NANNACO, Inc. (BB:NNCO), Andrew DeVries, III announced that negotiations were finalized with an investment banking firm in New York and a Private Lender to obtain a one hundred and fifty million dollar ($150,000,000.00) Stand-by Letter of Credit (SBLC) for management and disbursement as purchasing capital within the energy industry. The initial SBLC will involve the selection of an advisory bank to maintain verification status of the credit line and monitor transactions as they meet satisfactory terms for the funding group. Successful utilization of the instrument and ongoing verification of seller-side performance should result in revenues in excess of $15-20MM dollars to the company before the SBLC is increased to a higher amount. "Our client has very graciously offered us a performance-based opportunity to increase our presence in their procurement objectives. We intend to utilize every available resource to not only meet the requirements of our client's expectations, but to exceed them," said DeVries.
NNCO 0.042 up 0.0242 (+135.95%) The company currently has nine project development agreements, and four Agent/Facilitator appointments that range from large block transactions of financial instruments through bonded escrow accounts to JV and Consultancy agreements for developing companies. All of these projects and appointments are documented by signed Contracts, Formal Offering Memorandums, and other Agreements that have vetted out the integrity of each enterprise. NANNACO, Inc. intends to move forward with each project to a successful and profitable result. "I've told everyone that the move to Project Development and Consultancy would be in the best interest of our shareholders," said DeVries. "I'm in a position to prove my point, and that's all anyone could ask for. We will see this through, I am certain." Statements in this news release that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results are forward-looking. Forward-looking statements involve risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from those expressed. These uncertainties and risks include changing consumer preferences, lack of success of new products, loss of the Company's customers, competition and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission. For further information, please contact Andrew DeVries, III at (210) 496-7566, or send correspondence to 2935 Thousand Oaks, #6-261, San Antonio, TX 78247. source |
| PR List | Joint Venture With EORC Specialties, LLC of South Africa | up / down |
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SAN ANTONIO, Jan. 6, 1:25pm EST /PRNewswire-FirstCall/ -- NANNACO, Inc. (BB:NNCO), San Antonio, Tx, January 6, announced today that it has signed a strategic advisory contract with EORC Specialties, LLC (EORC), a Nevada based Limited Liability Company for the purpose assisting EORC in establishing a small cap focused investment firm in Johannesburg, South Africa.
The contract, structured as a joint venture, stipulates that upon completion of services, NANNACO, Inc. will retain 75% controlling ownership of EORC Specialties, LLC as payment for services rendered. Abiola Olatinwo, the president of EORC, Specialties, LLC said, "With the consulting and management offered by the leadership of NANNACO, we will be able to move forward in extending the reach of America's Wall Street to my native country. In the 1950s, Morgan Stanley's motto was to 'take Wall Street to Main Street' now I want to take it to my street, and offer alternative US investment opportunities to South Africans, as well as bring new sources of investment capital to emerging American businesses." NNCO 0.032 (Unchanged) The implementation of this strategy will prove to be one of the only, small cap focused investment firms in South Africa with a specific expertise in capital raising, US traded small cap stocks and US equity options. "With South Africa growing to be the center of commerce for the entire continent, the relative strength of the Rand, and the focus on small cap US companies and US equity options, we see great opportunity for a successful venture of significant magnitude," said Andrew DeVries, III of NANNACO. "We know it won't be easy, and that it is a long term project, but the potential upside for NANNACO and its shareholders may become quite significant." The Company did not offer guidance as to the potential revenues of the venture. "It simply would not be responsible for us to speculate given the early stages of the project. We will endeavor to update our shareholders on the project as well as on our other existing joint ventures at the end of this quarter." For further information, please contact Andrew DeVries, III at (210) 496-7566, or send correspondence to 2935 Thousand Oaks, #6-261, San Antonio, TX 78247. source |
| top | SEC Filing ExcerptsS-8 (Sept 29) 5M shares for employees and consultantsS-8 (Oct 3) 10M shares for employees and consultants S-8 (Nov 21) 65M shares for employment and consulting services S-8 (Jan 13) 45M shares for employment and consulting services S-8 (Nov 21) The New Law Firm 10KSB/A (Jan 20) Nannco changes auditors (Jan 5) Oct 3 letter to shareholders Re: 1:5 reverse stock split | up / down |
| SEC List | S-8 (Sept 29) registering 5M for employees and consultants
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NANNACO, INC., a Texas corporation, (the "Company"), hereby adopts this 2003 Non-Qualified Stock Option Plan (the "Plan") this 29th day of September, 2003, under which Incentive Stock Options, Non-Qualified Stock Options, Restricted Stock Awards, and Common Stock in Lieu of Cash Compensation Awards ("Awards") of the Company may be granted from time to time to employees and consultants of the Company or its subsidiaries, if any. In addition, at the discretion of the board of directors, awards may from time to time be granted under this Plan to other individuals who contribute to the success of the Company or its subsidiaries, if any, and are not employees of the Company, all on the terms and conditions set forth herein. SECTION 1. The Plan is intended to aid the Company in maintaining and developing a management team, attracting qualified officers and employees capable of assisting in the future success of the Company, and rewarding those individuals who have contributed to the success of the Company. It is designed to aid the Company in retaining the services of executives and employees and in attracting new personnel when needed for future operations and growth and to provide such personnel with an incentive to remain employees of the Company, to use their best efforts to promote the success of the Company's business, and to provide them with an opportunity to obtain or increase a proprietary interest in the Company. It is also designed to permit the Company to reward those individuals who are not employees of the Company but who are perceived by management as having contributed to the success of the Company or who are important to the continued business and operations of the Company. The above aims will be effectuated through the granting awards, subject to the terms and conditions of this Plan. The following terms shall be defined as set forth below: more ... SECTION 3. RECAPITALIZATIONS; MERGERS; SUBSTITUTE AWARDS (a) STOCK ISSUABLE. The maximum number of shares of Stock reserved and available for issuance under the Plan initially shall be 5,000,000 shares of Stock. In addition, (a) the number of shares of Stock reserved and available for issuance under the Plan will be increased each year after 2003 by a number of shares of Stock not to exceed 300,000 shares, (b) as Awards consisting of Stock Options are exercised, the shares of Stock underlying such previously outstanding portion of the Award shall be added back to the Shares available for issuance under the Plan; however, this amount shall not exceed 100,000 shares of Stock in any given year, and (c) if any portion of an Award is forfeited, cancelled, or reacquired by the Company, satisfied without the issuance of Stock or otherwise terminated, the shares of Stock underlying such portion of the Award shall be added back to the shares of Stock available for issuance under the Plan. Subject to such overall limitation, shares of Stock may be issued up to such maximum number pursuant to any type or types of Award; PROVIDED, however, that an individual recipient can receive Stock Options with respect to no more than 625,000 shares of Stock during any one calendar year. The shares available for issuance under the Plan may be authorized but unissued shares of Stock or shares of Stock reacquired by the Company. more ... |
| SEC List | S-8 (Nov 19) 65M shares for employment and consulting | up / down |
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(1) The engagement agreement (the "Engagement Agreement") between The Otto Law
Group, PLLC ("OLG") and NANNACO, Inc., a Texas corporation (the "Company" or the
"Registrant"), provides for legal services to be rendered by OLG to the Company
on a periodic basis. The Company has chosen to compensate OLG for legal services
rendered, in part, by issuing ten million (10,000,000) shares of the Company's
common stock to OLG pursuant to this Form S-8. The general nature and purpose of
the Engagement Agreement is to provide for legal services for the Company and,
at the same time, compensate OLG for said legal services. The Engagement
Agreement does not provide for a specific term, but remains in effect until
terminated by either party. The Engagement Agreement qualifies as an Employee
Benefit Plan as defined under Rule 405 of Regulation C.
(1) The employment agreement, as amended (the "Employment Agreement"), between Andrew DeVries, III ("DeVries") and the Company provides for services to be rendered by DeVries to the Company as President and C.E.O. The Company has chosen to compensate DeVries with a stock bonus for services rendered, in part, by issuing fifteen million (15,000,000) shares of the Company's common stock, all of which are being registered herein. The general nature and purpose of the Employment Agreement is to provide for executive officer services for the Company and, at the same time, compensate DeVries for said services. The Employment Agreement is has a term of five (5) years. The Employment Agreement qualifies as an Employee Benefit Plan as defined under Rule 405 of Regulation C. (1) The consulting services agreements (collectively, the "Consulting Agreements") between the Company and (1) The consulting services agreements (collectively, the "Consulting Agreements") between the Company and
The term of each of the Consulting Agreements is one (1) year. The Consulting Agreements may be renewed only by the mutual written agreement of the Parties. The Consulting Agreements may be terminated at any time by the Company or the Consultants by providing written notice to the other party. The Consulting Agreements qualify as Employee Benefit Plans as defined under Rule 405 of Regulation C. source | ||||
| SEC List | S-8 (Jan 13) 45M shares for employment and consulting | up / down |
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(1) The engagement agreement (the "Engagement Agreement") between The Otto Law
Group, PLLC ("OLG") and NANNACO, Inc., a Texas corporation (the "Company" or the
"Registrant"), provides for legal services to be rendered by OLG to the Company
on a periodic basis. The Company has chosen to compensate OLG for legal services
rendered, in part, by issuing 10,000,000 shares of the Company's common stock to
OLG pursuant to this Form S-8. The general nature and purpose of the Engagement
Agreement is to provide for legal services for the Company and, at the same
time, compensate OLG for said legal services. The Engagement Agreement does not
provide for a specific term, but remains in effect until terminated by either
party. The Engagement Agreement qualifies as an Employee Benefit Plan as defined
under Rule 405 of Regulation C.
(1) The consulting services agreements, as amended, where applicable (collectively, the "Consulting Agreements") between the Company and
The general nature and purpose of the Consulting Agreements are to provide for information technology, financial consulting, legal and marketing consulting services for the Company and, at the same time, compensate the Consultants for said consulting services. The term of each of the Consulting Agreements is one (1) year. The Consulting Agreements may be renewed only by the mutual written agreement of the Parties. The Consulting Agreements may be terminated at any time by the Company or the Consultants by providing written notice to the other party. The Consulting Agreements qualify as Employee Benefit Plans as defined under Rule 405 of Regulation C. 2) Estimated solely for the purposes of determining the registration fee pursuant to Rule 457. On January 12, 2004, the fair market value of the Company's common stock, determined from its closing price on the Over-the-Counter Bulletin Board was $.026 per share. On this basis, the maximum aggregate offering price for the shares being registered hereunder is $1,170,000, (45M x .026) and this is the basis for computing the filing fee in accordance with Rule 457(h) and at a rate of the aggregate offering price multiplied by .00008090. source | ||||
| SEC List | Nannco Inc engages The Otto Law Group | up / down |
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(1) The engagement agreement (the "Engagement Agreement") between The Otto Law
Group, PLLC ("OLG") and NANNACO, Inc., a Texas corporation (the "Company" or the
"Registrant"), provides for legal services to be rendered by OLG to the Company
on a periodic basis. The Company has chosen to compensate OLG for legal services
rendered, in part, by issuing ten million (10,000,000) shares of the Company's
common stock to OLG pursuant to this Form S-8. The general nature and purpose of
the Engagement Agreement is to provide for legal services for the Company and,
at the same time, compensate OLG for said legal services. The Engagement
Agreement does not provide for a specific term, but remains in effect until
terminated by either party. The Engagement Agreement qualifies as an Employee
Benefit Plan as defined under Rule 405 of Regulation C. This Engagement Agreement confirms the principal terms under which NANNACO, Inc. (the "Company"), agrees to engage The Otto Law Group, PLLC ("Otto Law"). Under this Engagement Agreement, Otto Law will assist the Company with various matters including, without limitation, the following:
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| SEC List | Nannco changes auditors | up / down |
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On January 5, 2004, NANNACO dismissed James J. Taylor, C.P.A.
("Taylor") as the Corporation's independent auditor. Taylor's reports on the
Corporation's financial statements for each of the years ended September 30,
2002 and 2001, and all subsequent interim periods, did not contain an adverse
opinion or disclaimer of opinion, and were not qualified or modified as to
uncertainty, audit scope or accounting principles. The decision to dismiss
Taylor was approved by the Corporation's Board of Directors. During each of the
two (2) years ended September 30, 2002 and 2001, and all subsequent interim
periods, there were no disagreements on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedures,
which disagreements, if not resolved to Taylor's satisfaction would have caused
them to make reference in connection with their opinion to the subject matter of
the disagreement. During each of the two (2) years ended September 30, 2002 and
2001, and all subsequent interim periods, Taylor did not advise the Corporation
of any "reportable events" as described in Item 304(a)(1)(v) of Regulation S-K.
The Corporation requested Taylor to furnish a letter addressed to the
Commission, stating whether he agrees with the statements made by the
Corporation, and, if not, stating the respects in which it does not agree. A
copy of this letter, dated as of January 12, 2004, was filed as Exhibit 16.1 to
the Current Report on Form 8-K filed on January 12, 2004.
On January 5, 2004, the Corporation engaged Salberg & Company, P.A. ("Salberg") as its principal accountant to audit the Corporation's financial statements. During each of the two (2) years ended September 30, 2002 and 2001, and all subsequent interim periods, the Corporation did not consult Salberg on any matters described in Item 304(a)(2)(i) of Regulation S-K. During each of the two (2) years ended September 30, 2002 and 2001, and all subsequent interim periods, the Corporation did not consult Salberg on any matters described in Item 304(a)(2)(ii) of Regulation S-K. source |
| SEC List | Oct 3 letter to shareholders RE: 1:5 reverse stock split | up / down |
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Oct 3, 2003
To Our Stockholders: The purpose of this letter is to inform you that we intend to take the following action by written consent of our stockholders: To amend our Articles of Incorporation to effectuate a reverse split of the Company's common stock on a 1:5 basis. As such, the total number of shares of the Company's common stock, par value $.001 per share, shall be reduced from 33,957,600 shares to 6,791,520 shares of common stock. Notice is hereby given that the holders of more than 50% of the outstanding shares of Common Stock of Nannaco, Inc. ("NNCO") have agreed to take action by written consent to approve an amendment to NNCO's Certificate of Incorporation to effect a 1-for-5 reverse stock split. The reverse stock split will have the effect of reducing the total number of shares of Common Stock issued and outstanding from 33,957,600 to 6,791,520. Details of the reverse stock split are described in the information Statement accompanying this Notice. The reverse split will be effected by the filing of an amendment to the Company's Amended Certificate of Incorporation with the Secretary of State of the State of Texas (the "Amendment"). The record date for the reverse split is October 3, 2003. Holders of a majority of our outstanding common stock owning approximately 55.5% of the outstanding shares of our Common Stock (the "Majority Stockholders"), have executed a written consent in favor of the actions described above. This consent will satisfy the stockholder approval requirement for the proposed action. Pursuant to Rule 14c-2 under the Securities Exchange Act of 1934, as amended, the proposals will not be adopted until a date at least 20 days after the date on which this Information Statement has been mailed to the stockholders. The Company anticipates that the actions contemplated herein will be effected on or about the close of business on November 5, 2003. The Company has asked or will ask brokers and other custodians, nominees and fiduciaries to forward this Information Statement to the beneficial owners of the Common Stock held of record by such persons and will reimburse such persons for out-of-pocket expenses incurred in forwarding such material. WE ARE NOT ASKING FOR YOUR PROXY. Because the written consent of the Majority Stockholders satisfies any applicable stockholder voting requirement of the Texas Law and our Articles of Incorporation and By-Laws, we are not asking for a proxy and you are not requested to send one. The accompanying Information Statement is for information purposes only and explains the terms of the amendment to our Amended Articles of Incorporation. Please read the accompanying Information Statement carefully. By Order of the Board of Directors |
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