SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 31, 2012
ENERJEX RESOURCES, INC.
(Exact Name of Registrant as specified in its charter)
(State or other jurisdiction of incorporation)
4040 Broadway, Suite 508, San Antonio, Texas 78209
(Address of principal executive offices)
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
Item 1.01 Entry into a Material Definitive Agreement.
On December 31, 2012, EnerJex Resources, Inc. (the “Company”) entered into a Securities and Asset Purchase Agreement (the “Agreement”), effective as of November 30, 2012, with James D. Loeffelbein (“Member”) and Enutroff, LLC (the “Enutroff” together with Member the “Stockholder”).
In the Agreement:
As consideration for the above transactions, the Company (a) paid to Stockholder $323,035 cash (which includes a $151,000 option fee pursuant to the Share Option Agreement), and (b) issued to Stockholder a promissory note in the original principal amount of $825,000. The note earns interest at a rate of 0.24% per annum, and has a schedule of quarterly payments, with $200,000 payable on or before each of March 31, June 30, and September 30, 2013, and the final payment of $225,000 due on or before December 31, 2013.
The description herein of the Agreement is qualified in its entirety, and the terms are incorporated herein, by reference to the Agreement, the form of which is filed as Exhibit 10.1 hereto.
Item 9.01 Financial Statements and Exhibits
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.