SEC Form 5 · accession 0001698003-17-000001
BAKKEN RESOURCES INC · BKKN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Allan G. Holms
Officer — President · Director · 10% Owner
Period of report
Dec 31, 2016
Accepted (ET)
Feb 13, 2017 · 6:09 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001450390
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Aug 1, 2016 | P | 13,117,500 | $10,000.00 | A | 26,590,000 | I | 2 |
| Common StockF3,F4 | Dec 10, 2016 | P | 13,117,500 | $1,088,000.00 | A | 26,590,000 | I | 4 |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1(1) Mr. Holms acquired 13,117,500 shares of Issuer Common Stock from Val Holms pursuant to a representation agreement by and among Allan Holms, Val Holms, Mari Holms and Doubek, Pyfer, & Fox, LLP dated August 1, 2016 (the "Representation Agreement") and Irrevocable Stock/Bond Power Forms executed by Val Holms for the stock certificates dated December 10, 2016 (the "Stock Powers"). Pursuant to the Representation Agreement, Allan Holms received the shares in exchange for payment to legal counsel of a $10,000 retainer and agreeing to pay legal fees incurred by Val, and agreeing to split with Val and Mari Holms any recovery in the case of Bakken Resources, et al. vs. Holms, et al. and related litigation, which final amount has not yet been determined.
- F2(2) See Footnote #1.
- F3(3) Allan Holms acquired an additional 13,117,500 shares of Issuer Common Stock previously held by Val Holms pursuant to an Assignment Agreement by and between Val Holms and Allan Holms dated December 10, 2016 (the "Assignment Agreement") and Stock Powers executed by Val Holms on December 10, 2016 in consideration for Allan Holm's agreement to a global release of all Val Holm's obligations to Allan Holms, including obligations as of December 10, 2016 valued at $1,088,000 plus a release of any past and future claims that may arise in the future, including payment of future legal fees incurred by Val in the case of Bakken Resources, et al. vs. Holms, et al. and related litigation, which final amount has not yet been determined.
- F4(4) See Footnote #3.