PANTERA PETROLEUM INC. (Form: DEF 14C, Received: 11/17/2008 13:30:39)The approval of reverse split of the common stock of the Company on a one (1) for twenty (20) basis, a copy of which is attached hereto as APPENDIX C (the “Reverse Split”). As a result of the Reverse Split, the record date of which is November 7, 2008 (the "Record Date" ), every twenty (20) shares of Common Stock owned by any shareholder on the Record Date will be one share of Common Stock. The resulting share ownership interest including resulting fractional shares for each individual shareholder shall be rounded up to the first whole integer.
We have had negative cash flows from operations.
From 10Q
PANTERA PETROLEUM INC. (Form: 10-Q, Received: 10/20/2008 17:02:18)
To date we have had negative cash flows from operations and we have been dependent on sales of our equity securities and debt financing to meet our cash requirements and have incurred losses totaling $192,556 for the three month period ending August 31, 2008. As of August 31, 2008, we had working capital of $122,286. We do not expect positive cash flow from operations in the near term. There is no assurance that actual cash requirements will not exceed our estimates. In particular, additional capital may be required in the event that:
drilling and completion costs increase beyond our expectations; or
we encounter greater costs associated with general and administrative expenses or offering costs.
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