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EX-31 - EXHIBIT 31.1 - NITRO PETROLEUM INC.ex31-1.htm
EX-32 - EXHIBIT 32.1 - NITRO PETROLEUM INC.ex32-1.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10 - Q

 

     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended April 30, 2014

OR

     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from __________ to __________

 

Commission File Number: 000-50932

  

Nitro Petroleum Incorporated

(Exact name of registrant as specified in its charter)

 

 

Nevada

 

 

98-0488493

 

 

(State or other jurisdiction of incorporation or organization)

 

 

(I.R.S. Employer Identification No.)

 

 

624 W. Independence, Suite 101

Shawnee, OK  74804

(Address of principal executive offices, including zip code)

 

(405) 273-9119

(Registrant’s telephone number, including area code)

 

  Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.  Yes    No

 

     Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes No       

 

     Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer   

Accelerated filer   

Non-accelerated filer   

Smaller reporting company   

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes    No

 

As of June 12, 2014, there were 7,429,898 shares of the registrant’s Common Stock outstanding.

 

 
 

 

 

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

 

This quarterly report on Form 10-Q contains forward-looking statements. All statements, other than statements of historical facts, are forward-looking statements. These forward-looking statements relate to, among other things, the following: our future financial and operating performance and results; our business strategy; market prices; and our plans and forecasts.

 

Forward-looking statements are identified by use of terms and phrases such as “may,” “expect,” “estimate,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “will,” “continue,” “potential,” “should,” “could” and similar words and phrases. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements. You should consider carefully the statements in the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended January 31, 2014, as well as other sections of this report, which describe factors that could cause our actual results to differ from those set forth in the forward-looking statements, including, but not limited to, the following factors:

 

 

our ability to generate sufficient cash flow from operations, borrowings or other sources to expand our business and fully develop our undeveloped acreage positions;

 

the volatility in commodity prices for oil and natural gas;

 

the possibility that the industry may be subject to future regulatory or legislative actions (including any additional taxes);

 

the presence or recoverability of estimated oil and natural gas reserves and the actual future production rates and associated costs;

 

the ability to replace oil and natural gas reserves;

 

lease or title issues or defects to our oil and gas properties;

 

environmental risks;

 

drilling and operating risks;

 

exploration and development risks;

 

competition, including competition for acreage in natural gas producing areas;

 

management’s ability to execute our plans to meet our goals;

 

our ability to retain key members of senior management;

 

our ability to obtain goods and services, such as drilling rigs and other oilfield equipment, and access to adequate gathering systems and pipeline take-away capacity, to execute our drilling program;

 

general economic conditions, whether internationally, nationally or in the regional and local market areas in which we do business, may be less favorable than expected, including that the United States economic slow-down might continue to negatively affect the demand for natural gas, oil and natural gas liquids;

 

continued hostilities in the Middle East and other sustained military campaigns or acts of terrorism or sabotage; and

 

other economic, competitive, governmental, legislative, regulatory, geopolitical and technological factors that may negatively impact our business, operations or pricing.

 

All forward-looking statements are expressly qualified in their entirety by the cautionary statements in this special note and elsewhere in this document. Other than as required under the securities laws, we do not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, changes in expectations or otherwise.

 

 
 

 

 

TABLE OF CONTENTS

 

PART I – FINANCIAL INFORMATION

 

 

Item 1. Financial Statements

 

Condensed Balance Sheets

 

As of April 30, 2014 (unaudited) and January 31, 2014

1

 

 

Condensed Statements of Operations (unaudited)

 

For the three months ended April 30, 2014 and 2013

2

 

 

Condensed Statements of Cash Flows (unaudited)

 

For the three months ended April 30, 2014 and 2013

3

 

 

Notes to Interim Condensed Financial Statements (unaudited)

4

   

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

5

Item 3. Quantitative and Qualitative Disclosures About Market Risk

8

Item 4. Controls and Procedures

8

 

 

PART II – OTHER INFORMATION

 

 

 

Item 1. Legal Proceedings

10

Item 1A. Risk Factors

10

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

10

Item 3. Defaults Upon Senior Securities

10

Item 4. Mine Safety Disclosure

10

Item 5. Other Information

10

Item 6. Exhibits

10

 

 
 

 

 

ITEM 1. FINANCIAL STATEMENTS

 

NITRO PETROLEUM INCORPORATED

CONDENSED BALANCE SHEETS

 

   

April 30, 2014

(Unaudited)

   

January 31, 2014

 

ASSETS

               

CURRENT ASSETS

               

Cash and cash equivalents

  $ 19,566     $ 190,827  

Accounts receivable

    526,143       411,803  

Total current assets

    545,709       602,630  

PROPERTY AND EQUIPMENT, NET

    37,025       37,713  

OIL AND GAS PROPERTIES, NET

    2,140,047       2,166,921  

Total assets

  $ 2,722,781     $ 2,807,264  

LIABILITIES AND STOCKHOLDERS' EQUITY

               

CURRENT LIABILITIES

               

Cash overdraft

  $ 77,803     $ 40,673  

Accounts payable

    462,471       508,057  

Accrued liabilities

    316,545       352,259  

Due to related party

    3,284       2,012  

Total current liabilities

    860,103       903,001  

ASSET RETIREMENT OBLIGATION

    31,905       31,203  

LONG TERM DEBT

    175,000       175,000  

Total liabilities

    1,067,008       1,109,204  

STOCKHOLDERS' EQUITY

               

Preferred stock, $0.001 par value

               
   Authorized: 10,000,000 shares, none issued or outstanding                
Common stock, $0.001 par value                
   Authorized: 20,000,000 shares                
   Issued: 7,335,348 shares at January 31, 2014 and 7,429,898 shares at April 30, 2014                

   Outstanding: 7,322,894 shares at January 31, 2014 and 7,417,444 shares at April 30, 2014

    7,429       7,335  

Common stock subscribed: 86,250 shares at January 31, 2014 and none at April 30, 2014

          86  

Additional paid-in capital

    8,616,116       8,613,635  

Treasury stock: 12,454 common shares at cost at January 31, 2014 and April 30, 2014

    (5,500 )     (5,500 )

Accumulated deficit

    (6,962,272 )     (6,917,496

)

Total stockholders' equity

    1,655,773       1,698,060  

Total liabilities and stockholders' equity

  $ 2,722,781     $ 2,807,264  

 

See accompanying notes to financial statements.

 

 
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NITRO PETROLEUM INCORPORATED

CONDENSED STATEMENTS OF OPERATIONS

(Unaudited)

 

   

Three Months Ended

April 30,

 
   

2014

   

2013

 

REVENUES

               

Oil and gas production

  $ 144,725     $ 105,332  

Production services

    22,440       17,160  

Total revenues

    167,165       122,492  
                 

COSTS AND EXPENSES

               

Lease operating expenses

    18,453       181,438  

General and administrative

    151,233       270,579  

Depletion, depreciation, amortization and accretion

    38,505       14,582  

Interest expense

    3,751        

Total expenses

    211,942       466,599  
                 

OPERATING INCOME (LOSS)

    (44,777 )     (344,107 )
                 
                 

INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES

    (44,777 )     (344,107 )

PROVISION FOR INCOME TAXES

           

NET INCOME (LOSS)

  $ (44,777 )   $ (344,107 )

Net income (loss) per common share, basic and diluted

  $ (0.01 )   $ (0.13 )

Weighted average common shares outstanding, basic and diluted

    7,354,410       2,597,022  


See accompanying notes to financial statements.

 

 
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NITRO PETROLEUM INCORPORATED

CONDENSED STATEMENTS OF CASH FLOWS

(Unaudited)

 

   

Three Months Ended April 30,

 
    2014     2013  

CASH FLOWS FROM OPERATING ACTIVITIES

               

Net income (loss)

  $ (44,777 )   $ (344,107 )

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:

               

Depletion, depreciation, and amortization

    37,803       13,142  

Share based compensation expense

    2,490        

Accretion on asset retirement obligation

    702       1,440  

Changes in operating assets and liabilities:

               

Accounts receivable

    (114,340 )     (153,573 )

Other current assets

          (2,600 )

Accounts payable

    (45,586 )     75,237  

Accrued expenses

    (35,714 )     78,545  

Lease development cost

          289,299  

Net cash used in operating activities

    (199,422 )     (42,617 )

CASH FLOWS FROM INVESTING ACTIVITIES

               

Purchases of oil and gas properties

    (10,241 )     (44,609 )

Net cash used in investing activities

    (10,241 )     (44,609 )

CASH FLOWS FROM FINANCING ACTIVITIES

               

Change in due to/from related party

    1,272       (17,782 )

Proceeds of issuance of common stock subscribed

          97,711  

Purchase of treasury stock

          (1,200 )

Change in cash overdraft

    37,130       (446 )

Net cash provided by financing activities

    38,402       78,283  

Net increase (decrease) in cash and cash equivalents

    (171,261 )     (8,943 )

Cash and cash equivalents at beginning of year

    190,827       160,460  

Cash and cash equivalents at end of year

  $ 19,566     $ 151,517  

SUPPLEMENTAL INFORMATION

               

Cash paid for interest

  $ 7,875     $  
                 

NON-CASH TRANSACTIONS

               

Change in estimate for asset retirement obligation

  $     $ 6,460  

Purchase of assets in exchange for receivables forgiveness

  $     $ 69,546  

 

See accompanying notes to financial statements.

 

 
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NITRO PETROLEUM INCORPORATED

NOTES TO THE INTERIM CONDENSED FINANCIAL STATEMENTS

(Unaudited)

 

 

Note 1

Interim Reporting

 

The accompanying financial statements of Nitro Petroleum Incorporated (the “Company”) have not been audited by independent public accountants. In the opinion of management, the accompanying financial statements reflect all adjustments necessary to present fairly our financial position at April 30, 2014, our results of operations for the three months ended April 30, 2014 and our cash flows for the three months ended April 30, 2014. All such adjustments are of a normal recurring nature. In preparing the accompanying financial statements, management has made certain estimates and assumptions that affect reported amounts in the financial statements and disclosures of contingencies. Actual results may differ from those estimated. The results for interim periods are not necessarily indicative of annual results.

 

 

Note 2

Nature and Continuance of Operations

 

The Company was incorporated in October 2003 in the State of Nevada and has established its corporate offices in Shawnee, Oklahoma. The Company is engaged primarily in the acquisition, development, production, exploration for, and the sale of oil, gas and natural gas liquids. All business activities are conducted in Texas and Oklahoma and the Company sells its oil and gas to a limited number of domestic purchasers.

 

These financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next fiscal year. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments to the carrying values and classifications of assets and liabilities that would be necessary should the Company be unable to continue as a going concern. At April 30, 2014, the Company had not yet achieved profitable operations, has accumulated losses of $6,962,272 since its inception, had a working capital deficiency of $314,394 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management has no formal plan in place to address this concern but believes that the Company will be able to obtain additional funds through equity financing and/or related party advances; however there is no assurance of additional funding being available.

 

 

Note 3

Oil and Gas Properties

 

The Company follows the full cost method of accounting for oil and gas operations whereby all costs of exploring for and developing oil and gas reserves are initially capitalized on an aggregate (one cost center) basis. Such costs include land acquisition costs, geological and geophysical expenses, carrying charges on non-producing properties, costs of drilling and overhead charges directly related to acquisition and exploration activities.

 

Costs of acquiring and evaluating unproved properties are initially excluded from depletion calculations. These unevaluated properties are assessed annually to ascertain whether impairment has occurred. When proved reserves are assigned or the property is considered to be impaired, the cost of the property or the amount of the impairment is added to costs subject to depletion calculations. 

 

 
- 4 -

 

 

Note 3

Oil and Gas Properties- Continued

 

Future net cash flows from proved reserves using average monthly prices, non-escalated and net of future operating and development costs are discounted to present value and compared to the carrying value of oil and gas properties.

 

At April 30, 2014 and January 31, 2014, the producing and undeveloped oil and gas properties were as follows:

 

   

April 30, 2014

   

January 31, 2014

 

Cost of properties

  $ 2,587,949     $ 2,577,708  
                 

Less: Accumulated depletion

    (447,902 )     (410,787 )
                 

Oil and gas properties net

  $ 2,140,047     $ 2,166,921  

 

 

Depletion expense for the three months ended April 30, 2014 and 2013 was $37,115 and $11,356, respectively.

 

Note 4

Common Stock

 

On March 14, 2014, the Company issued an aggregate of 8,300 shares of the Company’s common stock to certain related parties of the Company. Shares were valued at $2,490 for services to the Company.

 

Note 5

Related Party Transactions

 

The Company discontinued management fees for the quarter ended April 30, 2014. During the quarter ended April 30, 2013, the Company paid management fees to various companies under the common control of executive officers of the Company, totaling $63,000. The management fees are included in general and administrative expenses. The officers of the Company do not receive cash compensation. From time-to-time officers receive stock-based compensation, as determined by the Board of Directors. No stock-based compensation was awarded during the three months ended April 30, 2014 or 2013.

 

ITEM 2.  MANAGEMENT’S DISCUSSION AND ANALYSIS AND RESULTS OF OPERATIONS

 

The following discussion and analysis is intended to help the reader understand our business, financial condition, results of operations, liquidity and capital resources.  This discussion and analysis should be read in conjunction with our financial statements and the accompanying notes included in this report, as well as our audited financial statements and the accompanying notes included in our Annual Report on Form 10-K for the year ended January 31, 2014.  The following discussion contains forward-looking statements that are dependent upon events, risks and uncertainties that may be outside our control.  Our actual results could differ materially from those discussed in these forward-looking statements.  Factors that could cause or contribute to such differences include, but are not limited to, market prices for natural gas and crude oil, economic and competitive conditions, regulatory changes, estimates of proved reserves, potential failure to achieve production from development projects, capital expenditures and other uncertainties, as well as those factors discussed below and elsewhere in this report and in our Annual Report on Form 10-K for the year ended January 31, 2014, all of which are difficult to predict.  In light of these risks, uncertainties and assumptions, the forward-looking events discussed may not occur.

 

 
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The financial information with respect to the three month periods ended April 30, 2014 and 2013 that is discussed below is unaudited.  In the opinion of management, this information contains all adjustments, consisting only of normal recurring accruals, necessary to state fairly the unaudited financial statements.  The results of operations for the interim periods are not necessarily indicative of the results of operations for the full fiscal year.

 

The Company intends to continue to acquire high quality oil and gas properties, primarily “proved producing and proved undeveloped reserves” in the United States.  The Company sees significant opportunities in acquiring properties with proved producing reserves and undeveloped acreage in fields that have a long history of production.  The Company will also explore low-risk development drilling and work-over opportunities with experienced, strong operators.  The Company will attempt to finance oil and gas operations through a combination of privately placed debt and/or equity.  There can be no assurance that the Company will be successful in finding financing, or even if financing is found, that the Company will be successful in acquiring oil and/or gas assets that result in profitable operations.

 

As oil and gas properties become available and appear attractive to the Company’s management, funds, when they become available, will be spent on due diligence and research to determine if said prospects could be purchased to provide income for the Company.  Established oil companies continue to strive to reduce costs and debt.  The Company believes that this results in significant market opportunities for the Company to possibly position itself with sellers that wish to divest themselves of production or proved undeveloped properties in order to provide liquidity.  The Company’s management believes that current market conditions are creating situations that could result in the opportunity for such acquisitions.

 

The Company may also hedge price risk by selling forward a portion of future production acquired under fixed-price contracts to minimize risk associated with commodity prices.  In some cases the future value of such fixed-price contracts may be greater that the initial investments, thereby hedging the inherent acquisition risk, without limiting the upside available the stockholders and investors.  There can be no assurance, however, that any of these methods of financing will be successful in helping fund the Company.

 

Operating expenses will increase as the Company undertakes its plan of operations.  The increase will be attributable to the continuing geological exploration and acquisition programs and continued professional fees that will be incurred.

 

 
- 6 -

 

 

Financial Condition and Results of Operations

 

Revenues

 

The Company has three main revenue streams, including oil and gas production, production services, and sales of oil and gas properties.

 

Oil and gas production

 

For the three months ended April 30, 2014, the Company’s revenues from oil and gas production were $144,725, an increase of $39,393 compared to oil and gas production during the three months ended April 30, 2013 of $105,332. This increase was attributable to increased production from Branch #1, Crown #3, Giant #1-21, Giant #2, and improved production from the Quinlan properties. Gross production for the three months ended April 30, 2014 increased by 2,617 BOE (barrel of oil equivalent) from the same three months in 2013; the increase in production contributed to the increase in revenue.

 

Production services

 

For the three months ended April 30, 2014, revenues from production services increased over the same period in the prior year by $5,280, as a result in administrative charges for operator fees on additional properties: Branch # 1, Quinlan # 3, Thompson 2-18 and Giant # 1.

 

Lease operating expenses

 

For the three months ended April 30, 2014, the Company’s lease operating expenses were $18,453, a decrease of $162,985 compared to the three months ended April 30, 2013 of $181,438. This decrease was a result of prior operating costs associated with additional producing properties: Branch # 1, Quinlan # 3, Thompson 2-18 and Giant # 1.

 

General and administrative expenses

 

For the three months ended April 30, 2014, the Company’s general and administrative expenses were $151,233, a decrease of $119,346 over the three months ended April 30, 2013 of $270,579. This decrease in general and administrative expenses is primarily a result of decreased management fees paid to companies under the control of executive officers of the Company of $63,000. Salary expense decreased by $52,538; the Company did not have any salaried employees during the current period, thus no expense was incurred. Geology type expenses have also decreased by $3,695.

 

Liquidity and Capital Resources

 

As of April 30, 2014 and January 31, 2014, the Company’s cash balances were $19,566 and $190,827, respectively. This decrease in cash as of April 30, 2014 relates primarily to continued operating activities. Net cash used in the Company’s operating activities was $199,422 for the three months ended April 30, 2014, compared to net cash used in operating activities of $42,617 during the comparable period in 2013. This change was primarily attributable to the increase in accounts receivable and decrease in accounts payable and accrued liabilities for the quarter ended April 30, 2014.

 

The Company is continuing to reduce general and administrative expenses. The Company expects to improve net cash flow in the next 3 to 12 months through cost control measures.

 

The net cash used in investing activities is attributable to the purchase of oil and gas properties of $10,241 during the three months ended April 30, 2014.

 

 
- 7 -

 

 

Cash generated from the Company’s financing activities was $38,402 for the three months ended April 30, 2014, compared to $78,283 during the comparable period in 2013. This decrease was primarily attributable to proceeds from the sale of common stock of $97,711, during the three months ended April 30, 2013. The decrease was partially offset by an increase in bank overdraft of $37,130.

 

The Company will continue to utilize the labor of its directors and a stockholder until such time as funding is sourced from the capital markets. At the present time, these directors and stockholder are not being paid cash compensation, but have been compensated in the form of equity grants, and through management fees paid to related party management firms. It is anticipated that additional funding for the next twelve months will be required to maintain the Company’s operations.

 

Going Concern

 

The Company has not attained profitable operations and is dependent upon obtaining financing to pursue any acquisitions and exploration activities. These conditions raise substantial doubt about our ability to continue as a going concern without further financing.

 

Future Financings

 

The Company will continue to rely on sales of the Company’s common shares in order to continue to fund the Company’s business operations. Issuances of additional shares will result in dilution to existing stockholders. There is no assurance that the Company will achieve any additional sales of its equity securities or arrange for debt or other financing to fund planned acquisitions and exploration activities.

 

Off-Balance Sheet Arrangements

 

The Company has no significant off-balance sheet arrangements that have, or are reasonably likely to have, a current or future effect on the Company’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to stockholders.

 

ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

Not applicable.

 

ITEM 4.  CONTROLS AND PROCEDURES

 

Evaluation of Disclosure Controls and Procedures

 

The Company maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed by it in the reports that it files or submits to the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified by the Securities and Exchange Commission’s rules and forms, and that information is accumulated and communicated to the Company’s management, including its principal executive and principal financial officer (referred to in this periodic report as the Certifying Officer), as appropriate to allow timely decisions regarding required disclosure. The Company’s management evaluated, with the participation of its Certifying Officer, the effectiveness of the Company’s disclosure controls and procedures as of April 30, 2014, pursuant to Rule 13a-15(b) under the Securities Exchange Act. Our Certifying Officer concluded that, as of April 30, 2014, our disclosure controls and procedures were not effective. We are taking steps to remedy these deficiencies as quickly as possible.

 

 
- 8 -

 

 

Changes in Internal Controls

 

There were no changes in the Company’s internal control over financial reporting that occurred during the quarter ended April 30, 2014, that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.  Management has concluded that the design and operations of our internal controls over financial reporting at April 30, 2014 were not effective due to lack of segregation of duties and did not provide reasonable assurance that the books and records accurately reflected our transactions. We have taken, and are continuing to take steps to remedy these deficiencies as quickly as possible.

 

 
- 9 -

 

 

PART II

 

ITEM 1.   LEGAL PROCEEDINGS

 

The Company is party to lawsuits arising in the normal course of business. In the normal course of our business, title defects and lease issues of various degrees will arise and, if practicable, reasonable efforts will be made to cure any such defects and issues. The Company is not currently a party to any legal proceedings and, to the knowledge of the Company’s management, no such proceedings are threatened or, to the knowledge of the Company, contemplated.

  

ITEM 1.A.   RISK FACTORS

 

Not applicable. 

 

ITEM 2.   UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

On March 14, 2014, the Company issued 8,300 shares of common stock for services rendered to the Company. These shares were issued by the Company in reliance upon an exemption from registration set forth in Regulation D under and/or Section 4(2) of the Securities Act of 1933, as amended, which exempts transactions by an issuer not involving a public offering.

 

ITEM 3.   DEFAULTS UPON SENIOR SECURITIES

 

None.

 

ITEM 4.   MINE SAFETY DISCLOSURES

 

Not applicable.

 

ITEM 5.   OTHER INFORMATION

 

None.

 

ITEM 6.   EXHIBITS

 

Exhibit No.

Description of Exhibit

31.1

Rule 13a-14 Certification of Chief Executive Officer and Chief Financial Officer

32.1

Section 1350 Certification of Chief Executive Officer and Chief Financial Officer

101.INS *

XBRL Instance Document

101.SCH *

XBRL Taxonomy Extension Schema Document

101.CAL *

XBRL Taxonomy Extension Calculation Linkbase Document

101.LAB *

XBRL Taxonomy Extension Label Linkbase Document

101.PRE *

XBRL Taxonomy Extension Presentation Linkbase Document

101.DEF *

XBRL Taxonomy Extension Definition Linkbase Document

 

 

  * Furnished herewith. In accordance with Rule 406T of Regulation S-T, the information in these exhibits shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liability under that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.

 

 
- 10 -

 

 

SIGNATURES

 

In accordance with the requirements of the Exchange Act, the registrant caused this report to signed on its behalf by the undersigned, thereunto duly authorized.

 

NITRO PETROLEUM INCORPORATED

 

 

 

By:      /s/ James G. Borem

 

 

 

James G. Borem,

 

President, Chief Executive Officer and

 

Interim Chief Financial Officer

 

 

 

Date:  June 12, 2014

 

 

 

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