Westside Energy Corp - Securities Registration: Employee Benefit Plan
29 Octubre 2007 - 12:33PM
Edgar (US Regulatory)
REGISTRATION NO. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
WESTSIDE ENERGY CORPORATION
(Exact name of registrant as specified in its charter)
NEVADA 88-0349241
(State of other jurisdiction of (I.R.S. Employer
ncorporation or organization) Identification No.)
________
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3131 TURTLE CREEK BLVD, SUITE 1300, DALLAS, TEXAS 75219
(Address of Principal Executive Offices) (Zip Code)
WESTSIDE ENERGY CORPORATION 2007 EQUITY INCENTIVE PLAN
(Full title of the Plan)
DOUGLAS G. MANNER
3131 TURTLE CREEK BLVD, SUITE 1300
DALLAS, TEXAS 75219
(Name and address of agent for service)
214/522-8990
(Telephone number, including area code, of agent for service)
CALCULATION OF REGISTRATION FEE
Proposed Proposed
Title of each maximum maximum
class of Dollar offering aggregate Amount of
securities to Amount to be price per offering registration
be registered registered (1) share(2) price(2) fee
-------------- ------------- ---------- -------- -------------
Common Stock, 2,000,000 $2.73 $5,460,000 $167.62
shares
$.01 par value
--------------
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(1) Represents the maximum number of shares that may be distributed pursuant
to this Registration Statement.
(2) Estimated solely for purposes of calculating the registration fee based
on the closing price of the Registrant's common stock as reported on the
American Stock Exchange on October 26, 2007, or $2.73 per share.
PART I
INFORMATION REQUIRED IN THIS SECTION 10(A) PROSPECTUS
The document containing the information specified in Part I of this
Registration Statement on Form S-8 will be sent or given to participants in the
Plan as specified by Rule 428(b)(1) under the Securities Act of 1933, as
amended. Such documents are not required to be, and are not being, filed by the
Registrant with the U.S. Securities and Exchange Commission, either as part of
this Registration Statement or as prospectuses or prospectus supplements
pursuant to Rule 424 under the Securities Act of 1933, as amended. Such
documents, together with the documents incorporated by reference herein pursuant
to Item 3 of Part II of this Registration Statement on Form S-8, constitute a
prospectus that meets the requirements of Section 10 (a) of the Securities Act
of 1933, as amended.
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.
The following documents filed by Westside Energy Corporation (the
"Company") with the U.S. Securities and Exchange Commission (the "Commission")
are incorporated herein by reference:
(a) The Company's Annual Report on Form 10-KSB (the "Annual Report")
for the year ended December 31, 2006 (file no. 0-49837), including all
amendments; and
(b) The Company's Quarterly Report on Form 10-QSB for the quarter ended
March 31, 2007 (file no. 0-49837), including all amendments; and
(c) The Company's Quarterly Report on Form 10-QSB for the quarter ended
June 30, 2007 (file no. 0-49837), including all amendments; and
(d) All other reports filed by the Company with the Commission pursuant
to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), since the end of the fiscal year covered by the
Annual Report; and
(e) The description of the Company's common stock, par value $.01 per
share (the "Common Stock"), set forth under the caption "Description of
Securities" in the Company's Form 10-SB dated May 28, 2002 as filed with the
Commission on such date (as amended), and all amendments and reports filed
thereafter for the purpose of updating such description.
All documents subsequently filed by the Company pursuant to Sections 13(a),
13(c), 14 and 15(d) of the Exchange, prior to the filing of a post-effective
amendment that indicates that all securities offered hereby have been sold or
which de-registers all securities remaining unsold, shall be deemed to be
incorporated by reference herein and to be a part hereof from the date of the
filing of such document.
ITEM 4. DESCRIPTION OF SECURITIES.
Not applicable.
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.
Not applicable.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.
Section 78.7502 of the Nevada Revised Statutes (the "NRS") sets forth the
conditions and limitations governing the indemnification of officers, directors
and other persons. This section provides that a corporation shall have the power
to indemnify any person who was or is a party or is threatened to be made a
party to any threatened, pending or completed action, suit or proceeding,
whether civil, criminal, administrative or investigative (other than an action
by or in the right of the corporation) by reason of the fact that the person is
or was a director, officer, employee or agent of the corporation or was serving
at the request of the corporation in a similar capacity with another corporation
or other entity, against expenses (including attorneys' fees), judgments, fines
and amounts paid in settlement incurred in connection therewith if certain
conditions are met. The required conditions are that (a) the person to be
indemnified acted in good faith and in a manner which he or she reasonably
believed to be in or not opposed to the best interests of the corporation, and,
with respect to any criminal action or proceeding, had no reasonable cause to
believe his or her conduct was unlawful, or (b) the person's action or failure
to act did not constitute a breach of his or her fiduciary duties as a director
or officer or any such breach did not involve intentional misconduct, fraud, or
a knowing violation of law. With respect to a suit by or in the right of the
corporation, indemnity may be provided to the persons listed in the above
paragraph under Section 78.7502 on a basis similar to that set forth above,
except that no indemnity may be provided in respect of any claim, issue or
matter as to which such person has been adjudged to be liable to the corporation
unless and to the extent that the court in which such action, suit or proceeding
was brought or other court of competent jurisdiction determines that despite the
adjudication of liability, but in view of all the circumstances of the case,
such person is fairly and reasonably entitled to indemnity for such expenses as
the court deems appropriate. Moreover, Section 78.7502 provides for mandatory
indemnification of a director, officer, employee or agent of the corporation to
the extent that such person has been successful in defense of any such action,
suit or proceeding.
Section 78.751 of the NRS provides that the articles of incorporation, the
bylaws, or an agreement made by the corporation may provide that the expenses of
an officer or director in defending an action, suit or proceeding must be paid
as they are incurred and before the final disposition of the action, upon
receipt of an undertaking to repay such amounts if it is ultimately determined
that such person is not entitled to be indemnified. Section 78.751 also provides
that the indemnification may not be made (unless ordered by a court or for the
advancement of expenses made as described in the foregoing sentence) if a final
adjudication establishes that the person's acts or omissions involved
intentional misconduct, fraud, or a knowing violation of the law and was
material to the cause of action. Together, Sections 78.7502 and 78.751 establish
provisions for determining that a given person is entitled to indemnification.
Section 78.751 also states that the indemnification provided by or granted under
these sections is not exclusive of any rights to indemnity or advancement of
expenses to which such person may be entitled under the articles of
incorporation or any bylaw, agreement, vote of stockholders or disinterested
directors or otherwise.
Both the Company's By-laws and Section 78.752 of the NRS provide that a
corporation may purchase insurance on behalf of any person who is or was a
director, officer, employee or agent of the corporation, or is or was serving at
the request of the corporation as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other enterprise for
any liability asserted against him and liability and expenses incurred by him in
his capacity as a director, officer, employee or agent, or arising out of his
status as such, whether or not the corporation has the authority to indemnify
him against such liability and expenses.
The Company's Restated Articles of Incorporation provide that the personal
liability of the directors and officers of the Company is eliminated to the
fullest extent permitted by the Nevada law. In addition, the Company's Bylaws
provide that the Company will indemnify any director, officer, employee or agent
of the Company if certain conditions are met. Moreover, the Company has entered
into an indemnification agreement with each of its directors and officers
providing for indemnification under certain circumstances. Per the authority
described in the preceding paragraph, the Company has purchased and currently
maintains in effect a directors and officers errors and omissions insurance
policy. Further, consistent with applicable law, the Company's Bylaws permit
the Company to pay the expenses of the officers and directors incurred in
defending a civil or criminal action, suit or proceeding as such expenses are
incurred and in advance of the final disposition of the action, suit or
proceeding upon receipt of an undertaking by or on behalf of the director or
officer to repay the amount if it is ultimately determined by a court of
competent jurisdiction that such person is not entitled to be indemnified by the
Company.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.
Not applicable.
ITEM 8. EXHIBITS.
Exhibit
Number Exhibit
------ -------
4.1 Specimen Stock Certificate for Registrant's Common Stock is
incorporated herein by reference from Pre-effective Amendment
No. 1 to the Registration Statement on Form SB-2 (SEC File No.
333-120659) filed December 23, 2004, Exhibit 4.01.
4.2 Westside Energy Corporation 2007 Equity Incentive Plan.
5.1 Opinion of Lewis and Roca LLP
23.1 Consent of Malone & Bailey, PC
23.2 Consent of Lewis and Roca LLP (included in Exhibit 5.1 to this
Registration Statement).
23.3 Consent of LaRoche Petroleum Consultants, Ltd.
24.1 Power of Attorney (included on the signature page hereto).
ITEM 9. UNDERTAKINGS
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(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which the offers or sales
are being made, a post-effective amendment to this registration statement to
include any material information with respect to the plan of distribution not
previously disclosed in this registration statement or any material change to
such information in this registration statement; and
(2) That, for the purpose of determining any liability under the
Securities Act of 1933 (the "Act"), each such post-effective amendment shall be
deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof; and
(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.
(4) For determining liability of the undersigned small business
issuer under the Act to any purchaser in the initial distribution of the
securities, the undersigned small business issuer undertakes that in a primary
offering of securities of the undersigned small business issuer pursuant to this
registration statement, regardless of the underwriting method used to sell the
securities to the purchaser, if the securities are offered or sold to such
purchaser by means of any of the following communications, the undersigned small
business issuer will be a seller to the purchaser and will be considered to
offer or sell such securities to such purchaser:
(a) Any preliminary prospectus or prospectus of the undersigned
small business issuer relating to the offering required to be filed pursuant to
Rule 424;
(b) Any free writing prospectus relating to the offering prepared
by or on behalf of the undersigned small business issuer or used or referred to
by the undersigned small business issuer;
(c) The portion of any other free writing prospectus relating to
the offering containing material information about the undersigned small
business issuer or its securities provided by or on behalf of the undersigned
small business issuer; and
(d) Any other communication that is an offer in the offering made
by the undersigned small business issuer to the purchaser.
SIGNATURES
The Registrant
Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirement for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Dallas, State of Texas on October 29, 2007.
WESTSIDE ENERGY CORPORATION
By SDouglas G. Manner
------------------------
Douglas G. Manner,
Chief Executive Officer &
President
(Principal Executive Officer)
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POWER OF ATTORNEY
Each person whose signature appears below hereby appoints Douglas G. Manner
and Sean J. Austin, acting singly or collectively, as attorney-in-fact for the
undersigned, with full power of substitution, for and in the name, place and
stead of the undersigned, to sign and file with the U.S. Securities and Exchange
Commission under the Securities Act of 1933 any and all amendments (including
post-effective amendments) and exhibits to this registration statement and any
and all applications and other documents to be filed with the U.S. Securities
and Exchange Commission pertaining to the registration of the securities covered
hereby, with full power and authority to do and perform any and all acts and
things whatsoever requisite and necessary or desirable, hereby ratifying and
confirming all that said attorney-in-fact, or his substitute or substitutes, may
lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities and on the dates indicated.
Name Title Date
---- ----- ----
/S/ Douglas G. Manner Director, Chief Executive- October 29, 2007
Douglas G. Manner Officer & President
(Principal Executive Officer)
/s/Keith D. Spickelmier Director & Chairman October 29, 2007
Keith D. Spickelmier of the Board
/s/Craig S. Glick Director October 29, 2007
Craig S. Glick
/s/John T. Raymond Director October 29, 2007
John T. Raymond
/s/Herbert C. Williamson Director October 29, 2007
Herbert C. Williamson
/s/Sean J. Austin Vice President & October 29, 2007
Sean J. Austin Chief Financial Officer
(Principal Financial Officer &
Principal Accounting Officer)
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EXHIBITS INDEX
Exhibit Sequential
Number Description Page Number
------ ----------- ------------
4.1 Specimen Stock Certificate for Registrant's
Common Stock is incorporated herein by reference
from Pre-effective Amendment No. 1 to the
Registration Statement on Form SB-2 (SEC File No.
333-120659) filed December 23, 2004, Exhibit 4.01.
4.2 Westside Energy Corporation 2007 Equity Incentive Plan.
5.1 Opinion of Lewis and Roca LLP
23.1 Consent of Malone & Bailey, PC
23.2 Consent of Lewis and Roca LLP (included in Exhibit
5.1 to this Registration Statement).
23.3 Consent of LaRoche Petroleum Consultants, Ltd.
24.1 Power of Attorney (included on the signature
page hereto).
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