Barrel Energy CEO reports sizable preferred stake
Barrel Energy Inc. director and CEO James Jarmin Kaltsas filed an initial Form 3 showing his ownership in the company.
Rhea-AI Filing Summary
Barrel Energy Inc. director and CEO James Jarmin Kaltsas filed an initial Form 3 showing his ownership in the company. He directly holds 1,250,000 shares of Series A Preferred Stock, each convertible into 1,000 common shares, for a total of 1,250,000,000 common shares issuable upon conversion. He also indirectly beneficially owns 375,000 common shares through Maine Standard Biofuels Corp., which he owns and controls. The Series A Preferred Stock is immediately convertible, has no stated expiration, and carries 1,000 voting rights per share.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Kaltsas James Jarmin
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Series A Preferred Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Series A Preferred Stock — 1,250,000,000 contracts (Direct);
Common Stock — 375,000 shares (Indirect, By Maine Standard Biofuels Corp.)
Footnotes (4)
- F1. Represents 1,250,000 shares of Series A Preferred Stock directly owned by the Reporting Person. Each one share of Series A Preferred Stock is convertible into 1,000 shares of the Issuer's common stock, for an aggregate of 1,250,000,000 shares of common stock issuable upon conversion.
- F2. The Series A Preferred Stock is immediately exercisable and has no stated expiration date. The conversion right is subject to the terms of the Series A Preferred designation of the Issuer, as amended.
- F3. Each share of Series A Preferred Stock also has 1,000 voting rights. The voting rights are included here for explanatory consistency with the designation but should be coded in EDGAR only as applicable.
- F4. Represents 375,000 shares of Common Stock held by Maine Standard Biofuels Corp. The Reporting Person owns and controls Maine Standard Biofuels Corp. and serves as a director of that entity; accordingly, the Reporting Person may be deemed to beneficially own the shares indirectly. The shares were issued to Maine Standard Biofuels Corp. as compensation for consulting services provided to the Issuer.
Key Figures
Series A Preferred shares held: 1,250,000 shares
Underlying common shares: 1,250,000,000 shares
Indirect common shares: 375,000 shares
+2 more
5 metrics
Series A Preferred shares held
1,250,000 shares
Directly owned by reporting person
Underlying common shares
1,250,000,000 shares
Common stock issuable upon conversion of Series A Preferred
Indirect common shares
375,000 shares
Common stock held by Maine Standard Biofuels Corp.
Conversion ratio
1,000 common per preferred share
Series A Preferred Stock terms
Voting rights per preferred share
1,000 votes
Series A Preferred Stock voting power
Key Terms
Series A Preferred Stock, convertible, beneficially own, voting rights, +1 more
5 terms
Series A Preferred Stock financial
"Represents 1,250,000 shares of Series A Preferred Stock directly owned by the Reporting Person."
Series A preferred stock is a type of ownership share in a company that gives investors certain advantages, such as priority in receiving profits or getting their money back if the company is sold or goes bankrupt. It is often issued during early funding stages to attract investors by offering more security than common shares. This stock matters to investors because it provides a safer way to invest while still holding potential for future gains.
convertible financial
"Each one share of Series A Preferred Stock is convertible into 1,000 shares of the Issuer's common stock."
A convertible is a type of investment that starts as a loan or preferred stake (like a bond or preferred share) but can be exchanged for common shares of the company at a set price or under certain conditions. It matters to investors because it offers a mix of steady income and downside protection like a loan, plus the upside of stock ownership if the company does well—similar to holding a coupon that you can trade for a full ticket if the event becomes valuable.
beneficially own financial
"accordingly, the Reporting Person may be deemed to beneficially own the shares indirectly."
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
voting rights financial
"Each share of Series A Preferred Stock also has 1,000 voting rights."
Voting rights are the ability of shareholders to have a say in important company decisions, like choosing leaders or approving big changes. They matter because they give owners a voice in how the company is run, similar to how voters influence elections, ensuring the company acts in shareholders’ interests.
indirect ownership financial
"Represents 375,000 shares of Common Stock held by Maine Standard Biofuels Corp."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider holdings did Barrel Energy (BRLL) report on this Form 3?
The filing shows CEO and director James Jarmin Kaltsas directly holds 1,250,000 Series A Preferred shares and indirectly beneficially owns 375,000 common shares through Maine Standard Biofuels Corp., reflecting his initial reported ownership position in Barrel Energy Inc.
Is Barrel Energy (BRLL) Series A Preferred Stock immediately convertible and does it expire?
The Form 3 states the Series A Preferred Stock is immediately exercisable and has no stated expiration date. Its conversion right is governed by the issuer’s Series A Preferred designation, as amended, which sets the terms under which conversion into common stock can occur.
What indirect Barrel Energy (BRLL) ownership is reported through Maine Standard Biofuels Corp.?
The filing notes 375,000 Barrel Energy common shares are held by Maine Standard Biofuils Corp. Kaltsas owns and controls this entity and serves as its director, so he may be deemed to beneficially own these shares indirectly as part of his reported holdings.
What voting rights are attached to Barrel Energy (BRLL) Series A Preferred Stock?
Each Series A Preferred share carries 1,000 voting rights, matching its 1,000-to-1 common share conversion ratio. The Form 3 notes these voting rights are included for explanatory consistency with the designation, even though EDGAR coding may differ depending on applicability.
AI-generated analysis. How Rhea-AI works. Not financial advice.
