We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
WindGen Energy Inc (CE) | USOTC:WGEI | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.000001 | 0.000001 | 0.000001 | 0.000001 | 1,000 | 01:00:00 |
Utah
|
87-0397815
|
(State of Incorporation)
|
(I.R.S. Employer Identification No.)
|
Securities Registered Pursuant to Section 12(b) of the Act:
|
|
None
|
|
Securities Registered Pursuant to Section 12(g) of the Act:
|
|
Title of Each Class
|
Name of Each Exchange on which Registered
|
Common Stock, $0.001 par value
|
None
|
Large accelerated filer o | Accelerated filer o | Non-accelerated filer o | Smaller reporting company þ |
Page
|
|||
4
|
|||
5
|
|||
17
|
|||
17
|
|||
18
|
|||
18
|
|||
Item 4 | Mine Safety Disclosures | 18 | |
19
|
|||
22
|
|||
22
|
|||
24
|
|||
25
|
|||
44
|
|||
44
|
|||
45
|
|||
46
|
|||
48
|
|||
49
|
|||
50
|
|||
51
|
|||
52
|
|||
53
|
BUSINESS
|
•
|
Persistent, high energy costs;
|
•
|
Improved technology leading to significantly more efficient turbines;
|
•
|
Federal and state incentive programs;
|
•
|
Heightened consumer education and public awareness of the technology and its attributes; and
|
•
|
Increased public concern for environmental issues.
|
•
|
Big box stores
|
•
|
City road lighting
|
•
|
Community wind projects/companies
|
•
|
Industrial complexes
|
•
|
Islands
|
•
|
Large commercial farms and ranches
|
•
|
Manufacturing facilities
|
•
|
Marine and recreational
|
•
|
Mobile communication base stations
|
•
|
Municipal electric utilities
|
•
|
Offshore aquaculture and oil platforms
|
•
|
Public buildings and facilities
|
•
|
Remote monitoring sites
|
•
|
Rural electric co-ops
|
•
|
Schools
|
•
|
Sea water desalination
|
•
|
Small wind farms
|
•
|
Grid-Connected Systems
. A grid-connected wind turbine can reduce the consumption of utility-supplied electricity for lighting, appliances, and electric heat. If the wind speeds are below cut-in speed (7-10 mph) – the minimum speed to spin the blades – there will be no output from the turbine and all of the needed power is purchased from the utility. As wind speeds increase, turbine output increases and the amount of power purchased from the utility is proportionately decreased. When the wind system produces more electricity than the household or business requires, many utilities institute a policy called “net metering” which allows customers to connect renewable generation equipment to their utility power system. The utility takes any excess energy produced and credits it back to the customer on a net basis. The utility in essence banks your energy for free. With the interconnections available today, switching takes place automatically. There are no batteries in a modern, grid-connected small wind system.
|
•
|
Off-Grid Stand-Alone Systems
. Stand-alone wind energy systems operate somewhat differently and often charge batteries so electricity is available when the wind isn’t blowing. These systems can be appropriate for homes, farms, ranches, other purposes that require energy where there is no electric grid, or where the grid is unstable or even entire communities that are far from the nearest utility lines.
|
•
|
Canada:
|
•
|
Ireland:
|
•
|
United Kingdom:
|
•
|
The polyurethane blades are more durable than graphite composites and stand up better to the elements.
|
•
|
The blades do not hurt the ozone layer as they have zero emissions.
|
•
|
The blades use shorter towers, have less weight, and are easier to install.
|
•
|
The units use a simple direct drive, eliminating the need for complex, heavy, high maintenance gearing.
|
•
|
The units have a lower maintenance cost.
|
•
|
The units will have the best warranty in the industry, extendable to 10 years versus the industry standard of five years.
|
LEGAL PROCEEDINGS
|
MINE SAFETY DISCLOSURES
|
MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES
|
Bid Price
|
||||||||
Quarter Ended
|
High
|
Low
|
||||||
March 31, 2010
|
$
|
.205
|
$
|
.06
|
||||
June 30, 2010
|
.12
|
.08
|
||||||
September 30, 2010
|
.195
|
.06
|
||||||
December 31, 2010
|
.14
|
.08
|
||||||
March 31, 2011
|
.013
|
.076
|
||||||
June 30, 2011
|
.085
|
.05
|
||||||
September 30, 2011
|
.09
|
.06
|
||||||
December 31, 2011
|
.085
|
.066
|
SELECTED FINANCIAL DATA
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
|
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
|
Page
|
|
26
|
|
27
|
|
|
|
28
|
|
|
|
29
|
|
|
|
30
|
|
32
|
|
Certified Public Accountants
|
||||
A PROFESSIONAL CORPORATION
|
||||
David O. Seal, CPA
|
||||
W. Dale Westenskow, CPA
|
||||
Barry D. Loveless, CPA
|
||||
Stephen M. Halley, CPA |
|
|
/s/ Robison, Hill & Co. | |
Certified Public Accountants | |||
December 31, | ||||||||
2011
|
2010
|
|||||||
ASSETS
|
||||||||
Current Assets:
|
||||||||
Cash
|
22
|
33,278
|
||||||
Other Receivable
|
24,464
|
20,355
|
||||||
Prepaid Expenses and Other
|
2,502
|
50,601
|
||||||
Total Current Assets
|
26,988
|
104,234
|
||||||
Licensing Rights - Wind Sail Receptor, Inc.
|
–
|
190,000
|
||||||
TOTAL ASSETS
|
26,988
|
294,234
|
||||||
LIABILITIES AND STOCKHOLDER’S EQUITY (DEFICIT)
|
||||||||
Current Liabilities:
|
||||||||
Related Party Consulting Fees Payable
|
162,750
|
125,500
|
||||||
Accounts Payable
|
38,061
|
3,987
|
||||||
Note Payable
|
26,048
|
–
|
||||||
Convertible Note Payable, net of debt discount of $12,572 and $27,273
|
49,412
|
23,451
|
||||||
Preferred Stock Dividends Payable
|
19,860
|
17,969
|
||||||
TOTAL LIABILITIES
|
296,131
|
170,907
|
||||||
STOCKHOLDERS’ EQUITY (DEFICIT):
|
||||||||
Preferred Stock, 10,000,000 shares authorized; Series A Cumulative convertible preferred stock, 8% cumulative, $4.50 par value, 1,000,000 shares designated, 5,254 shares outstanding at December 31, 2011, (aggregate liquidation preference of $43,504); 5,254 shares outstanding at December 31, 2010 (aggregate liquidation preference of $41,613)
|
23,644
|
23,644
|
||||||
Common Stock, $0.001 par value: 100,000,000 shares authorized, 42,188,390 and 41,238,429 shares outstanding at December 31, 2011 and 2010, respectively
|
42,188
|
41,238
|
||||||
Additional Paid-In Capital
|
9,430,409
|
9,429,263
|
||||||
Stock Subscription Receivable
|
(10,000
|
)
|
(10,000
|
)
|
||||
Accumulated Deficit
|
(9,755,384
|
)
|
(9,360,818
|
)
|
||||
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)
|
(269,143
|
)
|
123,327
|
|||||
|
||||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
|
26,988
|
294,234
|
|
For Years Ended December 31,
|
|||||||
2011
|
2010
|
|||||||
REVENUES
|
$
|
–
|
$
|
–
|
||||
OPERATING EXPENSES:
|
||||||||
General and Administrative
|
144,607
|
158,831
|
||||||
Legal and Professional Fees
|
62,262
|
59,532
|
||||||
Related Party Consulting Fees
|
120,000
|
120,000
|
||||||
Related Party General and Administrative
|
–
|
10,000
|
||||||
Total Operating Expenses
|
326,869
|
348,363
|
||||||
INCOME (LOSS) FROM OPERATIONS
|
(326,869
|
)
|
(348,363
|
)
|
||||
OTHER INCOME (EXPENSE):
|
||||||||
Amortization of debt discount
|
(61,497
|
)
|
(13,636
|
)
|
||||
Interest Income (Expense)
|
(4,309
|
)
|
(1,225
|
)
|
||||
Total Other Income (Expense), Net
|
(65,806
|
)
|
(14,861
|
)
|
||||
NET INCOME (LOSS) FROM CONTINUING OPERATIONS
|
(392,675
|
)
|
(363,224
|
)
|
||||
DISCONTINUED OPERATIONS (Note 9):
|
||||||||
Net Income (Loss) from operations of MicroCor, Inc. (including gain on disposal of $355,000)
|
–
|
343,488
|
||||||
NET INCOME (LOSS)
|
(392,675
|
)
|
(19,736
|
)
|
||||
PREFERRED STOCK DIVIDENDS
|
(1,891
|
)
|
(6,147
|
)
|
||||
NET INCOME (LOSS) APPLICABLE TO COMMON STOCKHOLDERS
|
$
|
(394,566
|
)
|
$
|
(25,883
|
)
|
||
NET INCOME (LOSS) PER COMMON SHARE (BASIC AND DILUTED):
|
|
|
|
|
|
|
||
Continuing Operations
|
$ | (0.01 | ) | $ | (0.01 | ) | ||
Discontinued Operations
|
(0.00 | ) | 0.01 | |||||
Net Loss
|
$ | (0.01 | ) | $ | (0.00 | ) | ||
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
|
||||||||
BASIC
|
42,952,975
|
37,518,066
|
||||||
DILUTED
|
44,383,027
|
38,662,311
|
Additional
|
Stock | |||||||||||||||||||||||||||||||
Preferred Stock
|
Common Stock
|
Paid-in
|
Subscription |
Accumulated
|
||||||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
Receivable |
Deficit
|
Total | |||||||||||||||||||||||||
Balance, December 31, 2009
|
21,016
|
94,573
|
33,629,493
|
33,629
|
8,668,749
|
$ | (10,000 | ) |
(9,334,935
|
)
|
$ | (547,984 | ) | |||||||||||||||||||
Contributed capital from debt discount
|
–
|
–
|
–
|
–
|
40,909
|
–
|
–
|
40,909 | ||||||||||||||||||||||||
Preferred stock dividends
|
–
|
–
|
–
|
–
|
–
|
–
|
(6,147
|
)
|
(6,147 | ) | ||||||||||||||||||||||
Stock issued for cash
|
–
|
–
|
4,222,969
|
4,223
|
312,200
|
–
|
–
|
316,423 | ||||||||||||||||||||||||
Stock issued for conversion of preferred stock
|
(15,762
|
)
|
(70,929
|
)
|
246,834
|
247
|
108,169
|
–
|
–
|
37,487 | ||||||||||||||||||||||
Stock issued for expenses
|
–
|
–
|
985,000
|
985
|
90,515
|
–
|
–
|
91,500 | ||||||||||||||||||||||||
Stock issued for licensing rights
|
–
|
–
|
1,900,000
|
1,900
|
188,100
|
–
|
–
|
190,000 | ||||||||||||||||||||||||
Stock issued for notes payable
|
–
|
–
|
120,800
|
121
|
10,754
|
–
|
–
|
10,875 | ||||||||||||||||||||||||
Stock issued for related party payable
|
–
|
–
|
133,333
|
133
|
9,867
|
–
|
–
|
10,000 | ||||||||||||||||||||||||
Net loss
|
–
|
–
|
–
|
–
|
–
|
–
|
(19,736
|
)
|
(19,736 | ) | ||||||||||||||||||||||
Balance, December 31, 2010
|
5,254
|
$
|
23,644
|
41,238,429
|
$
|
41,238
|
$
|
9,429,263
|
$ | (10,000 | ) |
$
|
(9,360,818
|
)
|
$ | 123,327 | ||||||||||||||||
Contributed capital from debt discount
|
–
|
–
|
–
|
–
|
46,796
|
–
|
–
|
46,796 | ||||||||||||||||||||||||
Preferred stock dividends
|
–
|
–
|
–
|
–
|
–
|
–
|
(1,891
|
)
|
(1,891 | ) | ||||||||||||||||||||||
Stock issued for cash
|
–
|
–
|
1,077,331
|
1,077
|
79,723
|
–
|
–
|
80,800 | ||||||||||||||||||||||||
Stock issued for expenses
|
–
|
–
|
150,000
|
150
|
12,350
|
–
|
–
|
12,500 | ||||||||||||||||||||||||
Stock issued for notes payable
|
–
|
–
|
1,622,630
|
1,623
|
50,377
|
–
|
–
|
52,000 | ||||||||||||||||||||||||
Stock previously issued for licensing rights returned to treasury and cancelled
|
–
|
–
|
(1,900,000
|
)
|
(1,900
|
)
|
(188,100
|
)
|
–
|
–
|
(190,000 | ) | ||||||||||||||||||||
Net loss
|
–
|
–
|
–
|
–
|
–
|
–
|
(392,675
|
)
|
(392,675 | ) | ||||||||||||||||||||||
Balance, December 31, 2011
|
5,254
|
$
|
23,644
|
42,188,390
|
$
|
42,188
|
$
|
9,430,409
|
$ | (10,000 | ) |
$
|
(9,755,384
|
)
|
$ | (269,143 | ) |
For the Years Ended
December 31,
|
||||||||
2011
|
201
0
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
||||||||
Net Loss
|
$
|
(392,675
|
)
|
$
|
(19,736
|
)
|
||
Adjustments to reconcile net loss to net cash used in operating activities:
|
||||||||
Interest expense from debt discount
|
61,497
|
13,636
|
||||||
Related party consulting fee payable
|
37,250
|
65,500
|
||||||
Gain on deconsolidation of MicroCor
|
–
|
(355,000
|
)
|
|||||
Write-down of other receivable
|
–
|
21,119
|
||||||
Common stock issued for services
|
12,500
|
44,250
|
||||||
Prepaid expense
|
48,099
|
(3,151
|
)
|
|||||
Accounts payable
|
34,074
|
(30,701
|
)
|
|||||
Related party payable
|
–
|
(24,510
|
)
|
|||||
Accrued interest payable
|
4,309
|
1,225
|
||||||
Other receivable
|
(4,110
|
)
|
(433
|
)
|
||||
Net cash provided by (used in) Continuing Activities
|
(199,056
|
)
|
(287,801
|
)
|
||||
Net cash provided by (used in) Discontinued Activities
|
–
|
7,120
|
||||||
Net cash provided by (used in) Operating Activities
|
(199,056
|
)
|
(280,681
|
)
|
||||
CASH FLOWS FROM INVESTING ACTIVITIES:
|
||||||||
Net cash provided by Investing Activities
|
–
|
–
|
||||||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||||||
Proceeds from sale of stock
|
80,800
|
316,423
|
||||||
Proceeds from notes payable
|
85,000
|
50,000
|
||||||
Proceeds from stock subscription receivable
|
–
|
7,500
|
||||||
Payments for conversion of preferred stock
|
–
|
(15,000
|
)
|
|||||
Payments on notes
|
–
|
(11,939
|
)
|
|||||
Payments on notes related party loan
|
–
|
(47,143
|
)
|
|||||
Net cash provided by Financing Activities
|
165,800
|
299,841
|
||||||
NET INCREASE (DECREASE) IN CASH
|
(33,256
|
)
|
19,160
|
|||||
CASH AT BEGINNING OF PERIOD
|
33,278
|
14,118
|
||||||
CASH AT END OF PERIOD
|
22
|
33,278
|
||||||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW:
|
||||||||
Cash paid during the year for interest
|
$
|
–
|
$
|
5,418
|
||||
Cash paid during the year for income taxes
|
$
|
150
|
$
|
150
|
For the Years Ended
December 31,
|
||||||||
2011
|
201
0
|
|||||||
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES:
|
||||||||
Stock Subscription Receivable for Exercise of Stock Options
|
$
|
10,000
|
$
|
10,000
|
||||
Related Party Payables Converted to Common Stock
|
$
|
–
|
$
|
10,000
|
||||
Notes Payable Converted to Common Stock
|
$
|
52,000
|
$
|
10,875
|
||||
Conversion of Preferred Stock and Accrued Dividends to Common Stock
|
$
|
–
|
$
|
108,416
|
||||
Common Stock Issued for Licensing Rights
|
$
|
(190,000
|
)
|
$
|
190,000
|
Equipment and Furniture consist of the following:
|
December 31,
|
|||||||
2011
|
2010
|
|||||||
Equipment
|
$
|
6,555
|
$
|
6,555
|
||||
Furniture
|
–
|
–
|
||||||
6,555
|
6,555
|
|||||||
Less accumulated depreciation
|
(6,555
|
) |
(6,555
|
)
|
||||
Total
|
$
|
–
|
$
|
–
|
December 31, | ||||||||
2011
|
2010
|
|||||||
Net operating loss carry forwards
|
$
|
498,100
|
$
|
409,339
|
||||
Future deductions temporary differences related
to compensation, reserves, and accruals
|
–
|
–
|
||||||
Less valuation allowance
|
(498,100
|
) |
(409,339
|
)
|
||||
Deferred income tax assets
|
$
|
–
|
$
|
–
|
December 31,
|
||||||||
2011
|
2010
|
|||||||
Net Income (Loss)
|
$
|
(392,675
|
) |
$
|
(19,736
|
)
|
||
Less: preferred dividends
|
(1,891
|
) |
(6,147
|
)
|
||||
Income (Loss) available to common stockholders used basic EPS
|
$
|
(394,566
|
) |
$
|
(25,883
|
)
|
||
Weighted average number of common shares used in basic EPS
|
42,952,975
|
37,518,066
|
||||||
Effect of dilutive securities:
|
||||||||
Convertible preferred stock
|
7,881
|
7,881
|
||||||
Convertible notes payable
|
1,422,171
|
1,136,364
|
||||||
Options
|
–
|
–
|
||||||
Weighted average number of common shares and dilutive potential
common stock used in diluted EPS
|
44,383,027
|
38,662,311
|
December 31,
|
||||||||
2011
|
2010
|
|||||||
Sales
|
$
|
–
|
$
|
–
|
||||
General and administrative
|
–
|
–
|
||||||
Legal and professional
|
–
|
–
|
||||||
Interest Expense
|
–
|
–
|
||||||
Gain on deconsolidation of MicroCor
|
–
|
355,000
|
||||||
Net Income (Loss) attributable to non-contolling interest
|
–
|
(11,512
|
)
|
|||||
Net Income (Loss) from discontinued operations
|
$
|
–
|
$
|
343,488
|
United States (a)
|
2008 – Present
|
|
__________
|
||
(a) Includes federal as well as state or similar local jurisdictions, as applicable.
|
CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
|
ITEM 9A. |
CONTROLS AND PROCEDURES
|
(i)
|
pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company;
|
(ii)
|
provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with U.S. generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and
|
(iii)
|
provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company’s assets that could have a material effect on the financial statements.
|
ITEM 9B. |
OTHER INFORMATION
|
ITEM 10. |
DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
|
Name
|
Age
|
Position
|
||
Ronald Conquest
|
67
|
Chairman of the Board, Chief Executive Officer and Director since January 30, 2009; Secretary/Treasurer and Chief Financial Officer from March 18, 2010 until April 21, 2010
|
||
David P. Martin
|
69
|
President and Director since April 29, 2009
|
||
Wendy Carriere
|
42
|
Secretary/Treasurer, Chief Financial Officer and Director since April 21, 2010
|
ITEM 11. |
EXECUTIVE COMPENSATION
|
Executive Compensation Table
|
||||||||||||||||||
Annual Compensation
|
||||||||||||||||||
Name and Principal Position
|
Fiscal
Year
|
Salary
($)
|
Bonus
($)
|
All Other
Compensation
($)
|
Total
($)
|
|||||||||||||
Ronald Conquest
|
2011
|
$
|
60,000
|
(1)
|
$
|
–
|
$
|
–
|
$
|
60,000
|
||||||||
Chief Executive Officer
|
2010
|
$
|
60,000
|
(1)
|
$
|
–
|
$
|
–
|
$
|
60,000
|
||||||||
since January 30, 2009
|
2009
|
$
|
30,000
|
(1)
|
$
|
–
|
$
|
–
|
$
|
30,000
|
||||||||
Chief Financial Officer from March 18, 2010
|
||||||||||||||||||
until April 21, 2010
|
||||||||||||||||||
David P. Martin
|
2011
|
$
|
60,000
|
(2)
|
$
|
–
|
$
|
–
|
$
|
60,000
|
||||||||
President
|
2010
|
$
|
60,000
|
(2)
|
$
|
–
|
$
|
–
|
$
|
60,000
|
||||||||
since April 21, 2009
|
2009
|
$
|
30,000
|
(2)
|
$
|
–
|
$
|
–
|
$
|
30,000
|
||||||||
Christopher R. Miller
|
2010
|
$
|
–
|
$
|
–
|
$
|
7,500
|
(3)
|
$
|
7,500
|
||||||||
Chief Financial Officer
|
2009
|
$
|
–
|
$
|
–
|
$
|
–
|
$
|
–
|
|||||||||
from January 30, 2009 until March 18, 2010
|
||||||||||||||||||
Wendy Carriere
|
2011
|
$
|
–
|
$
|
–
|
$
|
7,500
|
(4)
|
$
|
7,500
|
||||||||
Chief Financial Officer
|
2010
|
$
|
–
|
$
|
–
|
$
|
–
|
$
|
–
|
|||||||||
since April 21, 2010
|
(1)
|
Commencing July 1, 2009, the Company has accrued, but not paid, a consulting fee of $5,000 per month for Mr. Conquest. To date a total of
$122,250
has been paid.
|
(2)
|
Commencing July 1, 2009, the Company has accrued, but not paid, a salary of $5,000 per month for Mr. Martin. To date a total of $15,000 has been paid.
|
(3)
|
On
June 1, 2010
, the Board of Directors awarded 100,000 shares of the Company’s restricted common stock to Mr. Miller, valued at $0.075 per share, in payment for his services for fiscal year ended December 31, 2010.
|
(4)
|
On January 6, 2012, the Board of Directors awarded 100,000 shares of the Company’s restricted common stock to Ms. Carriere, valued at $0.075 per share, in payment for her services for fiscal year ended December 31, 2011.
|
ITEM 12. |
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT
|
Name, Address and Position of Beneficial Owner
|
Amount and Nature of
Beneficial Ownership (1)
|
Percent of
Class
|
||
Principal Stockholders
:
|
||||
Law Investments CR, S.A.
8432 E. Shea Blvd., Suite 101
Scottsdale, Arizona 85260
|
3,178,573 (2)
|
7.3%
|
||
Officers and Directors
:
(3)
|
||||
Ronald Conquest,
Chairman, Chief Executive Officer
and Director
|
3,178,573 (4)
|
7.3%
|
||
David P. Martin
President and Director
|
3,251,273
|
7.7%
|
||
Wendy Carriere
Secretary/Treasurer,
Chief Financial Officer
and Director
|
100,000 (5)
|
*
|
||
All Executive Officers and Directors as a
group (3 persons)
|
6,529,846
|
15%
|
*
|
Less than 1%.
|
(1)
|
Except as otherwise indicated, we believe that the beneficial owners of the common stock listed above, based on information furnished by such owners, have sole investment and voting power with respect to such shares, subject to community property laws where applicable. Beneficial ownership is determined in accordance with the rules of the Securities and Exchange Commission and generally includes voting or investment power with respect to securities. Shares of common stock subject to options or warrants currently exercisable, or exercisable within 60 days, are deemed outstanding for purposes of computing the percentage ownership of the person holding such option or warrants, but are not deemed outstanding for purposes of computing the percentage ownership of any other person. The inclusion herein of such shares listed as beneficially owned does not constitute an admission of beneficial ownership.
|
(2)
|
Assumes the issuance of 1,333,333 shares upon payment of the $10,000 balance due on the promissory note from Law Investments CR, S.A. See
“Item 13. Certain Relationships and Related Transactions, and Director Independence”
below.
|
(3)
|
The address of our officers and Directors is c/o WindGen Energy, Inc., 8432 E. Shea Blvd., Suite 101, Scottsdale, Arizona 85260.
|
(4)
|
These shares represent the shares currently issued and the 1,333,333 shares to be issued to Law Investments CR, S.A. upon payment of the $10,000 balance due on the promissory note from Law Investments CR, S.A., of which Ronald Conquest is a Director and President. See
“Item 13. Certain Relationships and Related Transactions, and Director Independence”
below.
|
(5)
|
Includes 100,000 shares granted to Ms. Carriere on January 6, 2012 in payment for her services for fiscal year ended December 31, 2011.
|
ITEM 13. |
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE
|
ITEM 14. |
PRINCIPAL ACCOUNTING FEES AND SERVICES
|
Service
|
2011
|
2010
|
||||||
Audit Fees
|
$ | 27,974 | $ | 19,221 | ||||
Audit-Related Fees
|
– | – | ||||||
Tax Fees
|
1,480 | 1,000 | ||||||
All Other Fees
|
– | – | ||||||
Total
|
$ | 29,454 | $ | 20,221 |
ITEM 15. |
EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
|
Exhibit No.
|
Description
|
|
3.1 | Certificate of Amendment filed with the Nevada Secretary of State on December 16, 2009 (1) | |
10.1(a) | Option to Purchase Common Stock between Synergistic Equities Ltd. and Chi Lin Technologies Co., Ltd., dated January 28, 2010 (2) | |
10.1(b) | Proxy dated January 28, 2010 between Chi Lin Technology Co., Ltd., Larry Clark and Richard Bruggeman (3) | |
10.2
|
Joint Development Agreement Amendment between the Company, Chi Lin Technology Co., Ltd., MicroCor, Inc., and Wescor, Inc.
(4)
|
|
10.3
|
Proxy dated July 20, 2010 between Chi Lin Technology Co., Ltd., Larry Clark and Richard Bruggeman (5)
|
|
10.4(a) * |
Dealer Agreement between the Company and Wind Sail Receptor, Inc. dated March 20, 2012
|
|
10.4(b) * |
Royalty Agreement between the Company and Wind Sail Receptor, Inc. dated March 20, 2012
|
|
21 *
|
Subsidiaries of the Company
|
31.1 *
|
Certification by Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act
|
|
31.2 *
|
Certification by Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act
|
|
32.1 *
|
Certification by Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act
|
|
32.2 *
|
Certification by Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act
|
101.INS * | XBRL Instance Document ** | |
101.SCH * | XBRL Taxonomy Extension Schema Document ** | |
101.CAL * |
XBRL Taxonomy Extension Calculation Linkbase Document **
|
|
101.DEF * |
XBRL Taxonomy Extension Definition Linkbase Document **
|
|
101.LAB * |
XBRL Taxonomy Extension Labels Linkbase Document **
|
|
101.PRE *
|
XBRL Taxonomy Extension Presentation Linkbase Document **
|
*
|
Filed herewith.
|
**
|
In accordance with Rule 406T of Regulation S-T, this XBRL-related information shall be deemed to be “furnished” and not “filed.”
|
(1)
|
Incorporated by reference to Exhibit 3.1 of the Annual Report on Form 10-K filed by the Company on April 15, 2010.
|
(2)
|
Incorporated by reference to Exhibit 10.1(e) of the Annual Report on Form 10-K filed by the Company on April 15, 2010.
|
(3)
|
Incorporated by reference to Exhibit 10.1(f) of the Annual Report on Form 10-K filed by the Company on April 15, 2010.
|
(4)
|
Incorporated by reference to Exhibit 10.1 of the Current Report on Form 8-K filed by the Company on on June 30, 2010.
|
(5)
|
Incorporated by reference to Exhibit 10.1 of the Quarterly Report on Form 10-Q filed by the Company on August 13, 2010.
|
WINDGEN ENERGY, INC. | ||
|
|
|
Date: April 13, 2012 | By: | /s/ Ronald Conquest |
|
||
Ronald Conquest
Chairman of the Board
and Chief Executive Officer
(Principal
Executive Officer)
|
Signature
|
Date
|
|||
By: | /s/ Ronald Conquest |
April 13, 2012
|
||
|
||||
Ronald Conquest
Chairman of the Board,
Chief Executive Officer
and Director
(Principal
Executive Officer
)
|
By: | /s/ David P. Martin |
April 13, 2012
|
||
|
||||
David P. Martin
President, Chief Operating
Officer
and Director
(Principal Operating Officer)
|
By: | /s/ Wendy Carriere |
April 13, 2012
|
||
|
||||
Wendy Carriere
Secretary/Treasurer,
Chief Financial Officer and Director
(
Principal Accounting Officer)
|
1 Year WindGen Energy (CE) Chart |
1 Month WindGen Energy (CE) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions