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chimera energy corp (CHMR) Snapshot

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09/3/13 - $0.03
52 Week Low
09/27/13 - $0.0001
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chimera energy corp (CHMR) Details

Chimera Energy Corporation, a development stage company, supplies equipment and components that are used in the exploration and production of oil and gas in the United States. It markets and sells polycrystalline diamond compact cutters for use in coal mining, geological exploration, and oil and gas drilling. The company was founded in 2011 and is headquartered in Houston, Texas.

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chimera energy corp (CHMR) Key Developments

SEC Files Fraud Charges Against Houston Energy Company

The Securities and Exchange Commission is charging the now-defunct Houston-based Chimera Energy Corp. and its founders with alleged fraud. Going back to 2012, the SEC alleges Chimera was falsely touting contracts with state-owned Pemex in Mexico and was claiming it had developed revolutionary and environmentally friendly extraction technology that would replace hydraulic fracturing, or fracking. The SEC court filing alleges that Andrew I. Farmer was behind the act, creating Chimera as a shell company and secretly obtaining control of all shares issued in an initial public offering in 2011, then launching an aggressive promotional campaign midway through 2012 to hype the stock to investors. Chimera issued more than 30 press releases in a two-month period about its supposed revolutionary technology and contracts.

Chimera Energy Corporation Deleted From OTCBB

Chimera Energy Corporation’s common stock has been deleted from OTC Bulletin Board (OTCBB) effective October 31, 2012, on account of ineligible for quotation on OTCBB due to quoting inactivity under SEC Rule 15c2-11.

Charles Grob Resigns from All Positions Held with Chimera Energy Corporation

Effective October 10, 2012, Charles Grob resigned from all positions held with Chimera Energy Corporation, including resigning as Chairman of the Board of Directors. There was no disagreement between the Company and Mr. Grob at the time of his resignation from the Board of Directors.


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