38 unchanged sentences
Jones was one of the early investors in U.S.
−Removed: For approximately the past eight (8) years, Mr.
+Added: For approximately the past nine (9) years, Mr.
Jones has served, and continues to serve, as the Chief Executive Officer of Fairwood Peninsula Energy Corporation (“Fairwood”), a midstream liquefied natural gas company.
52 unchanged sentences
The Board encourages, but does not require, its directors to attend the Company’s annual meeting of stockholders.
−Removed: The Company did not hold an annual meeting last year.
+Added: The Company did not hold an annual meeting in 2022.
EXECUTIVE COMPENSATION
23 unchanged sentences
Delfin Midstream Inc.(1)
+Added: These shares are owned directly by Delfin Midstream Inc.
+Added: Delfin Midstream Inc’s address is 5949 Sherry Lane, Suite 950, Dallas, TX 752285.
Securities Authorized for Issuance Under Equity Compensation Plans as of December 31, 2022
3 unchanged sentences
The following is a summary of transactions, since December 31, 2018, to which we have been a party, in which the amount involved exceeded the lesser of $120,000 or 1% of the average of our total assets at December 31, 2022 and December 31, 2021, and in which any of our directors, executive officers, beneficial holders of more than 5% of our capital stock or certain other related persons had or will have a direct or indirect material interest.
−Removed: In March 2018, the Company executed a Promissory Note with Delfin, which was amended and restated in May 2018 to $150,000, in November 2018 to $350,000, in June 2019 to $465,000, in November 2019 to $554,100, in August 2020 to $600,000, in February 2021 to $637,500, in June 2021 to $675,000, in October 2021 to $705,000 and then again in January 2022 to increase the principal amount to up to $750,000 to pay certain accrued expenses, accounts payable and to allow the Company to have working capital.
+Added: In March 2018, the Company executed a Promissory Note with Delfin, which was amended and restated in May 2018 to $150,000, in November 2018 to $350,000, in June 2019 to $465,000, in November 2019 to $554,100, in August 2020 to $600,000, in February 2021 to $637,500, in June 2021 to $675,000, in October 2021 to $705,000, in January 2022 to $750,000, in April 2022 to $791, 000, in June 2022 to $826,000, in September 2022 to $861,000 and then again on December 23, 2022 to increase the principal amount up to $906,000 to pay certain accrued expenses, accounts payable and to allow the Company to have working capital.
+Added: The additional principal amounts associated with the December 23, 2022 note amendment were received on January 4, 2023.
Interest accrues on the unpaid principal balance at a rate of 8% per annum, calculated on a 365/66 day year, as applicable.
1 unchanged sentence
It may be prepaid in whole or in any part at any time prior to demand.
−Removed: Management anticipates continued funding from Delfin over the next twelve months as it determines the direction of the Company.
+Added: Management anticipates continued
+Added: funding from Delfin over the next twelve months as it determines the direction of the Company.
For more information, see the section in this annual report entitled “Item 7.
30 unchanged sentences
Form of Indemnification Agreement between the Company and each of its Directors and Executive Officers (incorporated by reference from our Form S-1 filed July 24, 1998 (Registration No.
−Removed: $750,000 Ninth Amended and Restated Bridge Promissory Note dated January 2022 by and between Delfin Midstream LLC and the Company).
+Added: $906,000 Thirteenth Amended and Restated Bridge Promissory Note dated December 23, 2022 by and between Delfin Midstream LLC and the Company).
Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a).*
7 unchanged sentences
X BRL Taxonomy Extension Presentation Linkbase Document
−Removed: Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)
+Added: Cover Page Interactive Data File - The cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document
*Filed herewith
7 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.