In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Legend Oil & Gas Ltd. (OTCMKTS:LOGL) reported that Hillair Capital Investments Lp has picked up 1,182,128,550 of common stock as of 2017-04-04.
The acquisition brings the aggregate amount owned by Hillair Capital Investments Lp to a total of 1,182,128,550 representing a 79.10% stake in the company.
For those not familiar with the company, Legend Oil and Gas, Ltd. is a crude oil hauling and trucking company. The Company has principal operations in the Bakken region of North Dakota. The Company’s segments include Corporate, Trucking and Services. The Company holds interests in Black Diamond Energy Holdings, LLC (Maxxon). Maxxon is a trucking and oil and gas services company that operates in North Dakota. The Company performs hauling services for institutional drilling and exploration companies, as well as crude oil marketers. The Company offers hauling operations in the Bakken in North Dakota, as well as in Colorado. The Company intends to serve the Permian basin of Texas. The Company held interests in oil and gas properties located in the United States.
A glance at Legend Oil & Gas Ltd. (OTCMKTS:LOGL)’s key stats reveals a current market capitalization of 1.99 Million based on 942.08 Million shares outstanding and a price at last close of $0.0013 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-05-01, Hillair picked up 604,155,998 at a purchase price of $0.03. This brings their total holding to 604,155,998 as of the date of the filing.
On the sell side, the most recent transaction saw Vandeberg unload 106,000 shares at a sale price of $0.02. This brings their total holding to 16,511,007.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Legend Oil & Gas Ltd. (OTCMKTS:LOGL) as things move forward to see if its progress aligns with these transactions.
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