319458--9/28/2009--ASPEN_EXPLORATION

related topics

{regulation, change, law}

{interest, director, officer}

{loss, insurance, financial}

{acquisition, growth, future}

{control, financial, internal}

{stock, price, share}

{provision, law, control}

{stock, price, operating}

{tax, income, asset}

We have no business operations, and only limited prospects for business operations. Our funds are primarily invested in money market funds in a limited number of uninsured accounts. We do not know what our final settlement relating to the sale of assets to Venoco will be. We have not instituted corporate governance policies or procedures and we have no independent directors. We have made, and will need to continue to make substantial financial and man-power investments in order to assess our internal controls over financial reporting and our internal controls over financial reporting may be found to be deficient. We may become subject to the regulations under the Investment Company Act of 1940 and subject to regulation that would impose significant responsibilities and restrictions on our ability to do business. It is likely that any efforts we may make to acquire a business or to raise capital will result in substantial additional dilution to our shareholders. Our common stock has and may continue to experience price volatility. Our common stock is subject to the penny stock rules which limits the market for our common stock. Indemnification of officers and directors may result in unanticipated expenses. Our executive officers are involved in other ongoing business opportunities. We have significant obligations under the Securities Act of 1934. Forward-looking statements may prove to be inaccurate. Provisions in our charter documents could prevent or delay a change in control or a takeover.

Full 10-K form ▸

319458--9/28/2009--ASPEN_EXPLORATION_CORP