Benz Energy Inc. Registration Statements Declared Effective by the SEC.HOUSTON--(BUSINESS WIRE)--Oct. 5, 1999-- Benz Energy Inc. (VSE See DOS/VSE. VSE - Virtual Storage Extended :BZG BZG Bristol Zoo Gardens (UK) ) today reports that the U.S. Securities and Exchange Commission ("SEC") has declared effective the Company's recently filed Registration Statement on Form SB-2. This action registers for resale under the Securities Act of 1933 all issued and outstanding shares of common stock, the Company's 8% Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". Series II ("Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. "), the common stock issuable on conversion of the Preferred Stock and common stock issuable upon the exercise of outstanding warrants. The SEC also has declared effective the Company's recently filed Registration Statement on Form 8-A, thereby registering its common stock and the Preferred Stock under section 12(g) of the Securities Exchange Act of 1934. Effective Sept. 30, 1999, the Company is subject to the reporting requirements of the Securities Exchange Act of 1934 and will begin filing regular quarterly and annual reports with the SEC. The Company's common stock is now eligible for trading in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and the Company anticipates seeking a listing on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. . Robert S. Herlin, the chief financial officer of Benz, stated "Our registration with the SEC is one of the final steps in the overall restructuring of Benz Energy. With this action, the Company is positioned to focus on developing its core properties." Benz Energy Inc. is an exploration and development company based in Houston focused on natural gas in the U.S. Gulf Coast of Texas, Mississippi and Louisiana. |
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