Polar Capital Holdings Plc (POLR)

Is this dead or what

One of the biggest stock selling scams in recent history. There was a time when the buy-in was in the .50 range and 3 weeks later we were selling at over $3.50 and above.

Lots of folks got cleaned out when the halt was placed on this one. I have checked back from time to time to see if anything ever came back here to POLR. It appears not.

That was the name I chose for my Santo Mining Corporation blog.

What happened to Polar Petroleum? There is no information on the Internet more recent than 2013. POLR doesn't even have a webpage anymore.

http://stockcharts.com/c-sc/sc?s=POLR&p=D&b=5&g=0&i=t31410422670&r=1390677203025

I wonder if they paid that note that was due dec 2??????? No filing as of yet or mabey it was extended????? Who knows

Current assets:      Cash $1,475   2,274 Prepaid expenses  20,233   10,230              Total current assets  21,708   12,504          Property and equipment, net  50,123   60,661 Unproved oil and gas properties, not subject to amortization  2,541,991   1,279,228              Total assets $2,613,822   1,352,393          LIABILITIES AND STOCKHOLDERS' EQUITY                 Current liabilities:        Accounts payable $43,878   28,895 Accrued expenses  33,302   - Related party payables  60,927   60,927 Current portion of long-term debt  1,850,000   475,000 Total current liabilities  1,988,107   564,822          Related party payables  74,441   - Long-term debt  -   500,000 Total liabilities  2,062,548   1,064,822

RECENT 10Q <========OverviewPolar Petroleum Corp. was incorporated in the State of Nevada on March 22, 2011 as Post Data, Inc.  We were previously a development stage company formed for purposes of decommissioning electronic data storage devices for permanent inoperability and unrecoverability of electronic data contained therein.  On July 30, 2012, our management changed and we entered into the oil and gas business to engage in the exploration, development and production of oil and gas properties primarily in the State of Alaska.On August 22, 2012, we formed a wholly-owned subsidiary, Polar Petroleum (AK) Corp. (the “Subsidiary”), in the State of Alaska for purposes of operating our oil and gas business in the State of Alaska. On October 30, 2012, our wholly-owned subsidiary, the Subsidiary entered into a purchase agreement (the “Hemi/Franklin Purchase Agreement”) with Daniel K. Donkel and Samuel H. Cade (together, the “Sellers”) pursuant to which the Subsidiary acquired 100% of the record title of the Sellers to 17 onshore oil and gas leases located in in the North Slope region of the State of Alaska, which include both the Hemi Springs Project and the Franklin Bluffs Project, while reserving a royalty of 16.67% for the State of Alaska and an overriding royalty of 4% for the Sellers, in exchange for a total purchase price of $1,250,000, with $150,000 of the purchase price paid in cash at closing and the remaining $1,100,000 payable under a promissory note from the Subsidiary to the Sellers (the “Hemi/Franklin Promissory Note”).  The Hemi/Franklin Promissory Note was due on October 31, 2014, and bears interest at 0.3% per annum (10% after a default).  We were obligated to pay $125,000.00 (plus accrued interest) every three months for the first twelve months, $100,000 (plus accrued interest) every three months for the 13th through 21st months, and $300,000 (plus accrued interest) by the maturity date.  The more detailed description of the Hemi/Franklin Purchase Agreement and related transactions set forth under the caption “Business—First Purchase of Oil & Gas Leases” in the 2013 Form 10-K is incorporated herein by reference.An installment payment under the Hemi/Franklin Promissory Note of $125,000.00 (plus accrued interest) was due on July 31, 2013, and a second installment payment of $125,000.00 (plus accrued interest) is due on October 31, 2013.  We requested that the Sellers grant us an extension on these payments. 12 On October 16, 2013, the Subsidiary entered into an amendment to the Hemi/Franklin Purchase Agreement with the Sellers, under which the Subsidiary will pay a $12,500 non-refundable extension fee, and Sellers will extend, until December 2, 2013, the payment of the installment amounts otherwise due on July 31 and October 31, 2013.  On December 2, 2013, the Subsidiary will be obligated to pay the entire outstanding principal balance due under the Hemi/Franklin Promissory Note, together with all accrued interest thereon, in the total sum of $865,229.On May 31, 2013, the Subsidiary entered into a purchase agreement (the “North Point Thomson Purchase Agreement”) with the same Sellers to acquire a 100% working interest in twelve offshore oil and gas leases in the property known as the North Point Thomson Property for an aggregate purchase price of $1,100,000, with $100,000 payable at closing and $1,000,000 evidenced by a promissory note from the Subsidiary to the Sellers (the “North Point Thomson Promissory Note”).  Seven of the leases are subject to a 12.5% royalty retained by the State of Alaska and the rest are subject to a royalty of 16.67% retained by the State of Alaska, and all of them carry an overriding royalty of 4% for the Sellers. The North Point Thomson Promissory Note was due on June 14, 2015, and bears interest at 0.3% per annum (12% after a default).  We were obligated to pay $125,000 (plus accrued interest) every three months during the term and on the maturity date.  The more detailed description of the North Point Thomson Purchase Agreement and related transactions set forth under the caption “Business—Second Purchase of Oil & Gas Leases” in the 2013 Form 10-K is incorporated herein by reference.An installment payment under the North Point Thomson Promissory Note of $125,000 (plus accrued interest) was due on September 14, 2013.  We requested that the Sellers grant us an extension on this payment.On October 16, 2013, the Subsidiary entered into an amendment to the North Point Thomson Purchase Agreement with the Sellers, under which the Subsidiary will pay a $12,500 non-refundable extension fee, and Sellers will extend, until December 2, 2013, the payment of the installment amount otherwise due on September 14, 2013.  On December 2, 2013, the Subsidiary will be obligated to pay the entire outstanding principal balance due under the North Point Thomson Promissory Note, together with all accrued interest thereon, in the total sum of $1,020,875.Our BusinessWe are an exploration stage company focused on exploration, production and development of oil and natural gas in the United States. We currently own interests in certain oil and gas drilling areas and land leases located in the North Slope region of the State of Alaska.Recent DevelopmentsOn October 16, 2013, we entered into amendments to the Hemi/Franklin Purchase Agreement and the North Point Thomson Purchase Agreement and the associated promissory notes, as described above.Effective September 6, 2013, we issued to US Energy Investments Ltd. (“US Energy”) a convertible promissory note in the principal amount of $75,000 evidencing a loan in that amount received by the Company from US Energy.  The note is due on September 5, 2016, and bears interest at 10% per annum, payable on the maturity date or earlier prepayment.  The Company may prepay all or any portion of the principal amount of the note without penalty.  Subject to a customary 4.99% “blocker” provision, US Energy may convert all or any portion of the outstanding principal amount of the note, together with accrued and unpaid interest thereon to the date of conversion, into shares of common stock of the Company, at a conversion price per share of common stock to be mutually agreed by the Company and US Energy, which in no event shall be less than $0.20 per share.  The note contains customary events of default and acceleration and customary representations by the Company.Effective October 16, 2013, we issued to US Energy a convertible promissory note in the principal amount of $50,000 evidencing a loan in that amount received by the Company from US Energy.  The note is due on October 15, 2016, and bears interest at 10% per annum, payable on the maturity date or earlier prepayment.  The Company may prepay all or any portion of the principal amount of the note without penalty.  Subject to a customary 4.99% “blocker” provision, US Energy may convert all or any portion of the outstanding principal amount of the note, together with accrued and unpaid interest thereon to the date of conversion, into shares of common stock of the Company, at a conversion price per share of common stock to be mutually agreed by the Company and US Energy, which in no event shall be less than $0.10 per share.  The note contains customary events of default and acceleration and customary representations by the Company.

In at 2,000,000 shares.

NEWS POLR....

I dont know what they going to accomplish with 75k???? The good thing is i dont see any signs of dilution yet.... POLR must not need funds yet....http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9507112

wow hope no one bought this at 6.25 it be a 98% loss lol

Heard that they are going to spend more money pumping this stock so it my do a short bounce up

100k dumps????? Not good

It's called tossing in the towel and taking the loss. For traders it's time to submit their quarterly profit-losses for the quarter. Believe one has to toss the towel 15 days before the quarter ends for wash purposes - unsure. Been awhile since I worried about such things.

You'll get more volume in December for end of year tax purposes. Then if it follows script it will wiggle around, before a huge sell off at the end of the 2nd year post suspension.

               Time & SalesPriceSize   MktTime$0.1510,000   OTO15:32:44$0.153,000   OTO15:32:31$0.125,555   OTO15:32:15$0.1452,375   OTO15:26:07$0.1525,000   OTO15:26:07$0.1457,625   OTO15:25:49$0.1525,000   OTO15:25:49$0.151,500   OTO15:02:02$0.151,500   OTO15:02:01$0.1525,000   OTO15:01:14$0.151,000   OTO14:48:31$0.155,500   OTO14:17:08$0.149100,000   OTO14:15:38$0.151,000   OTO14:12:47$0.155,000   OTO14:12:44$0.151,000   OTO14:12:42$0.1510,000   OTO14:12:25$0.1611,000   OTO14:12:21$0.1610,000   OTO14:12:21$0.161,000   OTO14:12:21$0.1450,000   OTO14:11:30$0.1452,000   OTO14:11:28$0.1520,000   OTO13:57:55$0.15200   OTO13:57:54$0.15500   OTO13:57:53$0.155,000   OTO13:57:29$0.182,000   OTO13:11:38$0.1459,999   OTO12:47:13$0.15100,000   OTO12:47:13$0.182,500   OTO12:

100k dumps????? Not good

These Oil and Gas clowns don't have a barrel to claim

What at svu still there shorting at what 7.00 but before that it was 2.40 and shorts were 46% of the float

Whoa puppy. In looking at its chart SVU is a NYSE stock that was chugging along at 7, wiggled down to 5, and then suddenly crashed to below 2.50 on bad news - store closings? Whatever. So you are trying to compare a NYSE stock where if one had wanted to Short it at 5 for 1K shares, your broker would ask for you to be able to cover a margin of $5K, to Shorting POLR below the 2.50 minimum, requiring a margin of $2.5M to Short 1K shares?

Your svu example was a stock which by the numbers you tracked probably did have a large Short volume - bad news attracts Shorts. But is that the case for these penny stocks? You point to the Short interest reported for POLR. Where that Short interest could increase tomorrow. But how can it, when it's illegal to Short a non-marginable stock such as POLR? No broker or intervening MM helping to facilitate a trade is going to directly risk their business by allowing you the retail investor to illegally Short POLR. So why is it Short activity reported for these previously suspended non-marginable penny stocks changes?

Courtesy of poster BigBake1, who has worked in the financial sector, and understands the mechanics:

The scoop

I have 50,000 shares of CCTC for sale on the best ask, you want 25,000 of those shares. So you place an order with your broker, electronically your brokerage checks internally for shares for sale, but nothing matches the size or price. It is uplined to an ECN where it sits in que. Each broker has an MM quoting for them, your brokers MM sees the order in que and knows I have 50,000 shares for sale at that price.

Electronically it executes an immediate trade to your broker for 25,000 shares sold to your account. In accordance with SEC Rule 200 that trade must be “MARKED” short although it is in fact a long position trade, this is reported to the Daily Reg Sho. At the very same time on a different leg of the same transaction the MM then buys 25,000 shares from my best Ask to cover that open position, this gets reported as a NON TAPE TRANSACTION. This prevents doubling the reported volume of the actual trade that occured. Both consolidated tape and Non Tape Transactions are sent to FINRA and are balanced and reconciled for accuracy.

Even though a MM is no longer maintaining an electronic spread for POLR, they are still involved in helping the brokers hook up for grey trades. No ECN, but Rule 200 still holds. That is how you get Short interest going up and down in previously suspended stocks, where it's illegal for your broker to allow you to Short them. It's the mechanics of the trade. Nothing to do with actual Short interest, as might occur in SVU.

What at svu still there shorting at what 7.00 but before that it was 2.40 and shorts were 46% of the float it happens all the time my point was even thou it is grey scull and bones stock some are still shorting it very strange that no mms don't want to have it yet still shorting something still new I have learned out of this....

yea but shocking still shorts...

Why would any remaining trivial retail short shares be shocked?

it has dropped thou..

The lowest closing PPS for this stock I can find before the suspension is 0.75. And that was way earlier than the first time this stock had any consistent volume starting in 29-Apr-13. Difficult to have one's broker find shares to short, with few outstanding in the public float. Neither are brokers keen to allow retail investors such as us to Short a stock under $5. Sure, you can do it, but anything under $2.5 per share requires $2.5 per share as margin in your account. Want to Short 1M shares of a stock currently at 001? You need $2.5M deposited in your account to meet margin requirements.

So why would any remaining hypothetical Short who possibly shorted above 2.50 be worried or shocked about the PPS being at 0.22, or wiggling back to 0.40 for that matter?

Frankly IMO, the idea of shorting a penny stock even above $5 is extremely dangerous. Too easy for a false pump PR to be released torching the Short position. How much would you risk Shorting one of these stocks - maybe 1000 shares at 5 for a potential gain-loss of $5K? So with the PPS 0.22, or a gain of $4780, would you sit trying to squeeze out that remaining $220? This stock maybe has another year to go before the brokers in mass consider it worthless. Already having a 96% gain out of 100%, would you wait for at least a year for that remaining 4%, or just cover, and redeploy the gain elsewhere?

There's no worry on the Short side, because they are all gone. Any short shares to be listed from here on out is due to the mechanics of the market. That's why one can see Short interest go up and down, where by definition it's impossible for retail to Short a non-marginable stock as POLR.

yea but shocking still shorts... it has dropped thou.. well i will wait to get some cheapies... i still like this company...

Nope, no short squeeze

However, one could have the remaining Shorts which is now a tiny part of the float covering at the recent lows of 0.25.

15:33 0.40 0.40 0.25 0.25 407,065*
08/29/2013 0.45 0.47 0.25 0.40 423,693
08/28/2013 0.45 0.45 0.40 0.40 3,319
08/27/2013 0.40 0.41 0.40 0.41 6,500
08/26/2013 0.45 0.45 0.40 0.40 2,943
08/23/2013 0.40 0.47 0.40 0.40 9,336
08/22/2013 0.38 0.40 0.38 0.40 3,392
08/21/2013 0.40 0.48 0.35 0.38 72,131
08/20/2013 0.40 0.47 0.40 0.42 8,870

The sudden spike in volume are those taking the loss, and throwing in the towel, a month early for Q3? No messing around about it. Just a huge exit in volume, since the tapering off in August, with the resulting PPS dropping.

There's still a huge volume of shares which transpired during the pump run leading up to the SEC suspension back in May-Jun. Hibernating since the trading resumed? PPS during the pump period 2-->5.75. Volume averaged approx 500K per session for just over a month period.

Meanwhile a formal SEC investigation, with resulting SEC litigation to follow any time in the next 2 yrs.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9489139

horse shit Time & Sales
Price Size Mkt Time
$0.25 20,800 OTO 15:33:47
$0.25 20,800 OTO 15:33:46
$0.30 0 OTO 15:20:40
$0.30 5,000 OTO 15:20:06
$0.30 0 OTO 15:13:53
$0.30 1,000 OTO 15:13:36
$0.30 0 OTO 15:11:58
$0.30 8,000 OTO 15:11:56
$0.30 4,000 OTO 15:11:42
$0.25 35,000 OTO 14:43:28
$0.25 35,000 OTO 14:43:22
$0.26 15,000 OTO 14:43:07
$0.26 15,000 OTO 14:43:05
$0.28 1,000 OTO 14:29:26
$0.26 40,000 OTO 14:29:24
$0.28 0 OTO 14:29:18
$0.28 25,000 OTO 14:28:06
$0.28 100 OTO 13:30:44
$0.28 5,000 OTO 12:23:26
$0.30 219 OTO 12:22:27
$0.30 1,000 OTO 12:22:05
$0.30 5,000 OTO 12:21:56
$0.30 44,200 OTO 12:21:19
$0.30 0 OTO 12:21:02
$0.26 50,000 OTO 12:20:50
$0.301 346 OTO 12:13:56
$0.30 200 OTO 10:48:16
$0.29 20,000 OTO 10:30:24
$0.30 10,000 OTO 10:30:03
$0.31 3,000 OTO 10:29:56

http://shortsqueeze.com/?symbol=polr&submit=Short+Quote%99

Somebody keeps scratching out their orders and screwing around.... weird

To be straight I really don't care what

they did or if they even did anything wrong

You should care. If this were say Exxon, and the CEO had violated securities laws for his own profit what would happen? He would be fired, have to disgorge ill begotten gains, and fined by the SEC as he was run out of the market. The company would be fined for lack of proper oversight, and then life would go on. How does POLR survive having its one and only employee Walker run out of the market?

Didn't the CEO tell you the company was dependent on selling stock to raise capital in its last 10Q? Didn't he tell you there is a $746K accumulated deficit? Didn't he tell you future annual lease payments averaged $200K+, and long term debt would be at least $1.85M by 2015?

You have a company which in the past sold stock to the market to pay for its operating expenses, and past debt notes. It no longer has that capability. There is a high probability the entire suspension was about stock issuance. It's to be questioned whether the SEC would allow the company to keep issuing stock, while being under a formal investigation. It's just another reason why these microcaps suspended don't survive after a suspension. Their entire existence depends on being able to sell stock to the market.

but what they have... Theres only one thing i am concearned and we will find out in time...

What they have are the leases that no big, mid, or even small cap oil company wanted. My guess is long before POLR, long before Cade and friend arrived, one of the large oil companies did a quick 2D seismic, and found the geology showing no promise. Else they would have jumped on it decades ago. No, I have no interest in digging through the last 20 yrs of seismic reports generated by all adjacent past and present owners to the POLR leases.

Along comes the twosome from Texas who bought the leases from ... whoever. They either find Walker or he finds them. Either way the twosome get what they want - a lease agreement, and money. Walker now has something to peddle to the market - stock in a start up oil company. Didn't matter if he went through the motions and actually drilled dry holes one after another. While it lasts Walker gets a salary, while selling more stock to the market. Only problem is he ran afoul of the SEC early on.

To be straight I really don't care what they did or if they even did anything wrong but what they have... Theres only one thing i am concearned and we will find out in time...

You might actually learn something if you compare it and read it...

Then teach us. What do you think you have here with POLR as an "investment".

Here is what I see:

A one man drilling exploration company holding leases the big boys of oil had no interest in. Where this one man company with insufficient funds must obtain funding to drill within the specified period of time or lose their leases. Off to the penny stock market we go. The one man company has no collateral, and thus is reduced to giving out chunks of stock to some fly by night penny stock financing outfits. Then the big plan is after issuing stock to pay for seismic reports (i.e. which could come back negative), the one man company must outfarm all actually drilling activities. Which of course would be paid for by more stock dilution.

Somewhere along the line the CEO one man company felt it necessary to pump out PRs like wild in May 2013. Up cranked 3rd party promotions. Volume which previously had a high of 11K shares, suddenly exploded with an average of a couple hundred shares or more per session. Volume eventually approached 28% of the issued shares, where most of the issued shares were suppose to be restricted. The PPS also soared increasing nearly 575%. Somewhere in the trading flurry the SEC detected unregistered shares being dumped involving insiders and affiliates. Result was a suspension.

What is known is the SEC has launched a formal investigation of the CEO and company, per the 10Q. This suggests the SEC has evidence the CEO was directly involved in the Jun P&D which led to the suspension. Most likely the SEC will file litigation, and then offer the CEO an out of court settlement, running him out of the stock market. The only unusual thing is how open the CEO is in the 10Q telling the stockholders about the SEC problem. Most try to hide or downplay it. Although most I've followed are non-reporters, not bound to 10Q transparency.

What you have is a company which willingly or unknowingly violated securities laws. Any ill begotten profits from the P&D will be disgorged with fines. A public company with no financial means to incur this expense, and survive. Their only previous source of revenue of selling their own stock is now unappetizing to the fly by night penny stock financiers. Their CEO the "one man company" likely to be banned from the market by the SEC. Who's left to turn out the lights? Answer: Leftover stockholders. A couple of years from now the SEC will get around to revoking POLR's stock registration.

this is a scam i got solicited mail from some 3rd party had a 50 page pamphlet on why i need to invest in polr so i took a look but was already on down side lol

lol. I just thought you would know. sorry. my mistake.

You might actually learn something if you compare it and read it...

I don't know which ones. what did they change in the amended filing? i'm not going to waste I second of time reading it. this scam is over.

You are saying lies... which one????

so which lies did they attempt to correct.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9461012

Polar Petroleum Corp. Provides Update on the Company's Exploration Work to Date & Project Plans for Its 3 Alaska-Based Oil & Gas Projects

Press Release: Polar Petroleum Corp. – Fri, Aug 9, 2013 9:00 AM EDTEmailPrint

RELATED QUOTES

SymbolPriceChangePOLR0.48+0.02ANCHORAGE, Alaska, Aug. 9, 2013 (GLOBE NEWSWIRE) -- Polar Petroleum Corp. (POLR; herein after "Polar Petroleum", "Polar" and/or "the Company") is pleased to provide an update on the Company's exploration work to date and its current business plans for its 3 Alaska-based oil and gas projects in the prolific North Slope region: the Hemi Springs Project, the Franklin Bluffs Project and the North Point Thomson Project.Polar Petroleum Corp.'s President and CEO, Daniel Walker, commented: "While we have already completed initial exploration work on 2 of our projects, the plans outlined here include all the potential stages and conditional outcomes we are currently considering to undertake for our 3 Alaska projects. With these plans spanning from preliminary exploration right through to potential drilling and production and/or deciding whether to retain lease acreage, it's understandable that these plans may be altered along the way or may not ultimately be executed."Polar Petroleum's exploration plans are forward-looking in nature; are dependent on the Company's ability to raise the necessary capital to fund the work and operations outlined below; and there can be no assurance Polar will be able to do so.HEMI SPRINGS PROJECT1. Initial technical assessment.2. Magnetic data purchase and interpretation (completed; Fugro).3. Well log analysis and interpretation (in progress; Waters Petroleum, LLC).4. Begin well permitting process (surface and target locations to be revised/amended later).5. Seismic data acquisition, interpretation, and structural mapping (in discussions).6. Decide if more data required to define exploration well location. If more data required, then (a), if not, then (b).(a) Acquire and interpret additional data, then (b) and (c).(b) Define exploration well location(s).(c) Obtain petroleum engineer's assessment of reserves for well's target-horizons (independent third party).7. Decide to pursue drilling by Polar alone (a), by seeking an outside drilling partner (b), or forego drilling at this time (c).(a1) Finalize well permit for drilling.(a2) Go to tender for well.(a3) Spud well, drill and test. If well is not successful, then (a4), otherwise (a5).(a4) Evaluate alternative well locations and run the stages (a1-a4) again, or go to (b), or go to (c).(a5) Fully define a field development plan, unitize the leases, and go into production.(b) Identify prospective drilling partner companies and engage in discussions, with the objective of pursuing steps (a1-a3) above.(c) Decide whether to retain lease acreage.[For Hemi Springs Project flow chart, see URL below.]FRANKLIN BLUFFS PROJECT1. Initial technical assessment.2. Magnetic data purchase and interpretation (completed; Fugro).3. Well log analysis and interpretation (completed; Waters).4. Evaluate cost/benefit of applying for 3-year lease extension on ADL 390939.5. Decide to pursue extension (a), or drop the lease (b).(a) Continue as below (6).(b) Terminate the lease and end the project.6. Apply for lease extension, and if granted continue as below (7), if not then (5b).7. Define target-horizons; obtain petroleum engineer's assessment of well reserves; begin well permitting process (surface and target locations to be revised/amended later).8. Decide to pursue drilling by Polar alone (a), by seeking an outside drilling partner (b), or forego drilling at this time (c).(a1) Finalize well permit for drilling.(a2) Go to tender for well.(a3) Spud well, drill and test. If well is not successful, then (a4), otherwise (a5).(a4) Evaluate alternative well locations and run the stages (a1-a4) again, or go to (b), or go to (c).(a5) Fully define a field development plan, unitize the leases, and go into production.(b) Identify prospective drilling partner companies and engage in discussions, with the objective of pursuing steps (a1-a3) above.(c) Decide whether to retain lease acreage.[For Franklin Bluffs Project flow chart, see URL below.]NORTH POINT THOMSON PROJECTPolar Petroleum is currently in discussions with Fugro/CGG regarding obtaining magnetic and gravitational data and interpretation for the North Point Thomson project; the geologists have started their initial technical assessment. The Company is also working with WesternGeco about the availability to purchase seismic data from ConocoPhillips and BP for the North Point Thomson project (as well as for the Hemi Springs Project).1. Initial technical assessment (in progress).2. Gravity and Magnetic data purchase and interpretation (in discussions).3. Well log analysis and interpretation (in discussions).4. Begin well permitting process (surface and target locations to be revised/amended later).5. Seismic data acquisition, interpretation, and structural mapping (in discussions).6. Decide if more data required to define exploration well location. If more data required, then (a), if not then (b).(a) Acquire and interpret additional data, then (b) and (c).(b) Define exploration well location(s).(c) Obtain petroleum engineer's assessment of reserves for well's target-horizons (independent third party).7. Decide to pursue drilling by Polar alone (a), by seeking an outside drilling partner (b), or forego drilling at this time (c).(a1) Finalize well permit for drilling.(a2) Go to tender for well.(a3) Spud well, drill and test. If well is not successful, then (a4), otherwise (a5).(a4) Evaluate alternative well locations and run the stages (a1-a4) again, or go to (b), or go to (c).(a5) Fully define a field development plan, unitize the leases, and go into production.(b) Identify prospective drilling partner companies and engage in discussions, with the objective of pursuing steps (a1-a3) above.(c) Decide whether to retain lease acreage.[For North Point Thomson Project flow chart, see URL below.]http://media.globenewswire.com/cache/24266/file/21361.pdfFOR ADDITIONAL INFORMATIONRead more about the Hemi Springs Project, the Franklin Bluffs Project and the North Point Thomson Project on Polar Petroleum's official website, as well as further information about the Company and its latest news releases at http://www.polarpetro.com.ABOUT POLAR PETROLEUM CORP.Polar Petroleum (POLR) is an independent American oil and gas company based in Anchorage, AK. The Company is focused on securing domestic energy solutions through the exploration, development and production of oil and natural gas in Alaska's proven North Slope region: home to the 2 largest oil fields in North America, over 10 other producing fields, and established infrastructure. The Company's Franklin Bluffs Project overlies the 3 source rocks thought to represent potential unconventional shale oil on the North Slope. Test drilling in the vicinity has met expectations for finding oil in the source rocks.* The Company's Hemi Springs Project is estimated to potentially represent recoverable petroleum reserves of ~558 million barrels of oil.** The Company's North Point Thomson Project lies along the northern border of ExxonMobil's Point Thomson Unit and is 8 miles northeast of the producing Badami Unit.Polar's projects comprise 29 leases and ~66,061 acres, and are strategically positioned between many of the major players of the oil and gas industry and the necessary infrastructure to bring hydrocarbons to market.* Petroleum News, Sept. 23, 2012; ** Geologic Study and Initial Evaluation of the Potential Petroleum Reserves of the Hemi Springs Project, North Slope, Alaska (D. T. Gross & D. W. Brizzolara, Mar. 25, 2013).ON BEHALF OF THE BOARD OF DIRECTORS,Polar Petroleum Corp.Daniel Walker, President & CEO4300 B StreetSuite 505Anchorage, AK99503USAINVESTOR RELATIONS:Toll Free: 1-888-765-2773E-mail: ir@polarpetro.comPOLR

News out...

I cannot believe they are still circulating the same garbage, all they did was change 9billion in valuation to 5 billion. This is the same scam. They think toning down 9billion to 5 billions will change anything

http://polarpetro.com/pdf/Hemi-Springs-Project-Geological-Report-2013.pdf

 Level 2 is onlyavailable in Real-Time                           Time & SalesPriceSize   MktTime$0.701,000   OTO16:01:19$0.65380   OTO15:57:20$0.65500   OTO15:42:43$0.541,000   OTO15:37:53$0.55800   OTO15:11:36$0.55200   OTO15:02:10$0.55100   OTO14:42:33$0.682,000   OTO12:08:00$0.512,160   OTO10:46:11$0.50232   OTO10:06:14$0.701,000   OTO09:56

Annual ReportITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.Our Business OverviewPolar Petroleum ("Polar") was incorporated in the State of Nevada on March 22, 2011 as Post Data, Inc. We were previously a development stage company formed for purposes of decommissioning electronic data storage devices for permanent inoperability and unrecoverability of electronic data contained therein. On July 30, 2012, our management changed and we entered into the oil and gas business to engage in the exploration, development and production of oil and gas properties primarily in the State of Alaska. The Company has selected March 31 as it fiscal year end.Results of Operations for the fiscal years ended March 31, 2013 and March 31, 2012RevenuesThe Company has not generated any revenues for the fiscal years ended March 31, 2013 and 2012.Operating ExpensesThe Company expenses for fiscal years ended March 31, 2013 and 2012 were $374,807 and $52,421, respectively. Operating expenses increased in 2013 due to directors' salaries, consulting expenses, and increased operational activities with the purchase of the Alaska Oil and Gas Property Leases as well as the issuance of stock for services. We anticipate incurring further increased expenses once we begin exploration activities and will require additional funding to support our working capital needs.Net loss for the year ended March 31, 2013 and 2012 was $375,442 and $52,437, respectively.Financial ConditionTotal assets. Total assets at March 31, 2013 and 2012 were $1,352,393 and $0, respectively. Total assets consist of cash, prepaid expenses and deposits, equipment, website, and oil and gas properties.Total liabilities. Total liabilities at March 31, 2013 and 2012 were $1,064,822 and $3,487, respectively. Total liabilities at March 31, 2013 consist of account payables and accrued expenses of $28,895, shareholder loans of $60,927, current portion of note payable of $475,000 and long term portion of note payable of $500,000 due under the Oil and Gas Lease Purchase Agreement.Liquidity and Capital ResourcesThe accompanying financial statements have been prepared assuming that the Company will continue as a going concern which contemplates, among other things, the realization of assets and satisfaction of liabilities in the ordinary course of business.The Company has a net loss from operations for the fiscal year ended March 31, 2013. Because of the absence of positive cash flows from operations, the Company will require additional funding for continuing the development and marketing of products. These factors raise substantial doubt about the Company's ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.We are not presently able to meet our obligations as they come due. At March 31, 2013 we had working capital deficit of $552,318 or the amount by which our current liabilities exceed our current assets. Our working capital deficit was due to the results of purchases of oil and gas properties.Net cash used in operating activities for the fiscal year ended March 31, 2013 was $191,004. Net cash used in investing activities for the year ended March 31, 2013 was $365,555. Net cash provided by financing activities for the year ended March 31, 2013 was $550,552, generated primarily from proceeds of sales of our common stock.

And all this time the sec has been

on them but the company denies all of it...

Then the next logical step is to have their lawyers go to court, and seek an injunction against the SEC action. Not happening is it?

funny that the sec just doesn't shut it down if it really is true...

What SEC regulation gives them that power? The SEC can not pronounce them guilty, and shutdown the trading of the stock beyond the 10 day suspension. Only a civil court can determine guilt. As previously posted, that could be up to 2 yrs+ away. If the company stops filing, the SEC can eventually delist the stock. The only other thing the SEC can do if management engages in another P&D while waiting for the legal process to play out, is to hit the stock with a second suspension. I've not seen any examples of that occurring with any of these microcap frauds. Wonder why.


we will see in the meantime sell man I will buy cheaper... they will keep filing just as they should...

Buy all you want. Not for me to say, you must buy, must sell, must hold. Maybe some pump gang will arrive, where you can do a trade flip for profit? At least with the management and affiliates essentially locked out of the market, it becomes a retail trading game. Where rumors can become more powerful than non-existent fundamentals ever were.

And all this time the sec has been on them but the company denies all of it... funny that the sec just doesn't shut it down if it really is true... we will see in the meantime sell man I will buy cheaper... they will keep filing just as they should...

That's my point why file a 8k????

But I guess will see in the meantime there looking to get off the greys and get on a diffrent market...

And what would they need to get off the greys?...

A MM willing to sponsor a 211 filing. A Termination Notice from the SEC indicating the investigation has been closed. Else no MM will even think about sponsoring a 211. The 8K just told you there is a formal SEC investigation underway. Far from an investigation possibly ending, it's just getting started.

The next step you will see is a SEC litigation notice, outlining the case they are prepared to go to court with. Only problem, you may have to wait 2 yrs for it to happen. Prediction: In the coming months you will see posts claiming the SEC investigation is over, and a 211 is coming, because nothing more has been heard from the SEC. In the meanwhile in the background the clock keeps on ticking towards litigation. After litigation it might be months or a year before a SEC Administrative notice appears, where both sides have agreed to a settlement: disgorgement of funds, fines, CEO barred from the market. Believe it's called due process of the law.

Why file a 8K? IMO, it's management attempting to show full cooperation with the SEC, in an attempt to later negotiate lower final fines. If anything the SEC is probably startled at the 8K filing. The usual tactic is for these companies to mislead their stockholders further, or hide from the market.

Let's e-mail the SEC and ask if they are harassing this company.

Maybe the government doesn't like oil. Ya think?

The Company is unaware of any of the purported actions and omissions referred to above and is cooperating fully with the SEC’s staff in their investigation. There has been no change to the Company’s business plan.  The Company is seeking to have a broker or dealer publish quotations for the Company’s common stock on the OTC Bulletin Board or another interdealer quotation system, although there can be no assurance that this will be achieved

On June 10, 2013, the Securities and Exchange Commission (the “SEC”) issued an order suspending trading in the common stock of Polar Petroleum Corp. (the “Company” or “Polar”) on the OTC Bulletin Board and OTC Link for a period of 11 days ending on June 21, 2013.  In its order, the SEC alleged that there was “a lack of current and accurate information concerning the securities of [Polar] because of questions regarding the adequacy and accuracy of assertions by Polar, and by others, to investors in press releases and promotional material concerning, among other things, the [C]ompany’s assets, operations, and financial condition.”  Neither the Company nor any of its officers or directors has issued, produced, authorized or paid for any promotional materials concerning the Company, its securities, assets, operations or financial condition, nor is any of them aware of the identity of any persons who have issued, produced, authorized or paid for any such promotional materials.  With respect to its press releases, the Company is not aware of any untrue statements of material fact or any omission to state a material fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not misleading

That's my point why file a 8k???? But I guess will see in the meantime there looking to get off the greys and get on a diffrent market... it doent mean they will succeed in it but it looks like imo they will give it a fight... still up in the air..