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EX-10.1 - EXHIBIT 10.1 - Native American Energy Group, Inc.v314814_ex10-1.htm
EX-99.1 - EXHIBIT 99.1 - Native American Energy Group, Inc.v314814_ex99-1.htm


Washington, D.C. 20549







Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934



Date of Report: May 29, 2012
(Date of earliest event reported)


Native American Energy Group, Inc.

(Exact name of registrant as specified in its charter)



Delaware 000-54088 65-0777304
(State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification Number)


108-18 Queens Blvd., Suite 901 Forest Hills, NY   11375
(Address of principal executive offices)   (Zip Code)


(718) 408-2323
(Registrant's telephone number, including area code)


Not Applicable
(Former Name or Former Address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




Item 1.01. Entry into a Material Definitive Agreement


The information set forth in Item 8.01 is incorporated herein by this reference.


Item 8.01. Other Events


On May 29, 2012, we entered into a Debt Settlement Agreement (the “Agreement”) with Assetia FOG, LLC (“Assetia”) under which the Company settled a debt liability in the amount of $245,000 owed to Assetia since November 2007.


As per the Agreement, we agreed to issue 122,500 restricted shares of our common stock (based on $2.00 per share) and reimburse Assetia for legal fees totaling $10,000 in exchange for full satisfaction of the debt, due to Assetia, from the Company.


A copy of the press release issued by the Company announcing the Settlement Agreement is attached hereto as Exhibit 99.1.


The foregoing description does not purport to be complete and is qualified in its entirety by reference to the Settlement Agreement, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 which is incorporated herein by reference.


Item 9.01. Financial Statements and Exhibits

(d) Exhibits


The following exhibits are being filed with this Current Report on Form 8-K:



Exhibit No. Description
10.1 Debt Settlement Agreement dated May 29, 2012
99.1 Press Release issued by Native American Energy Group, Inc. on May 30, 2012.






Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



  By: /s/ Raj S. Nanvaan  
    Raj S. Nanvaan  
    Chief Financial Officer