On October 12, 2012, pursuant to the Merger Agreement entered into by and between the Cellteck Inc.1, Eos Petro, Inc. (“Eos”), and Eos Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of Cellteck, Inc. (“Merger Sub”), dated July 16, 2012, Merger Sub merged into Eos, with Eos being the surviving entity and the Company the legal acquirer (the “Merger”). As a result of the Merger, Eos became a wholly-owned subsidiary of Cellteck, Inc.
Following the Merger, the Company’s principal focus has shifted to the business of Eos.
Eos has two subsidiaries which are also engaged in the oil and gas business: Plethora Energy, Inc., a Delaware corporation (“Plethora Energy”) and EOS Atlantic Oil & Gas Ltd., a Ghanaian limited liability company (“EAOG”, and collectively referred to with Eos and Plethora Energy as the Company’s “Subsidiaries”)
One customer accounts for 100% of oil sales for the three months ended March 31, 2013 and 2012.
The Company is presently focused on the exploration, development, mining, operation and management of medium-scale oil and gas assets. Eos's primary activities as of March 31, 2013, have centered on organizing activities but have also included the acquisition of existing assets, evaluation of new assets to be acquired, pre-development activities for existing assets and our reverse merger with Cellteck.
1Cellteck, Inc. (the “Company,” or “Cellteck”) was organized under the laws of the state of Nevada in 2007 to serve as a vehicle for the re-organization and spin-off of Safe Cell Tab, Inc.’s safe cell tab business from China Ivy School, Inc. The safe cell tab is a small, thin, oval shaped device designed specifically to help protect users of cell phones, cordless phones, laptops, microwaves and any other hand held devices from the potentially harmful and damaging effects of electromagnetic radiation or EMF’s, which are emitted from these electrical devices.
