Annual report pursuant to Section 13 and 15(d)

4. SHAREHOLDER'S EQUITY

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4. SHAREHOLDER'S EQUITY
12 Months Ended
Mar. 31, 2016
Notes to Financial Statements  
SHAREHOLDER'S EQUITY

Acquisition of FFIN

 

On November 23, 2015, BMBM and Mr. Turlov entered into the Acquisition Agreement, pursuant to which BMBM acquired FFIN in exchange for 224,551,913 shares of BMBM’s common stock, which constituted approximately 80.1% of its 280,339,467 shares of common stock issued and outstanding after giving effect to such acquisition.

 

Shareholder Distributions

 

Following the sale for cash in September 2011 of BMBM’s oil and gas assets in operations in Kazakhstan, BMBM distributed the net proceeds to its shareholders. Distributions aggregating $8,533,566 have not been completed to certain shareholders pending the completion of necessary documentation of such shareholders’ ownership of the stock on which the distribution is based.