Vista and Source Energy Complete their Reverse Merger, is now Publically Traded


25 October 2005

Well on 21 Oct 2005, Source Energy and signed their merger agreement.

You can also find details at the SEC regarding related transactions with Vista majority shareholders and senior execs. The only comment I'd make is that it seems clear that as the taking of Vista public approached, there was an effort to buyout a number of other private entities. Vista now has a virtual Point of Sail system, Jadeon, which they bought in June 2005. Bob Bench's Bayhill Group gets $25,000/month. They also bought 10x Marketing in June 2005, which Vista describes as, "an Internet marketing firm that specializes in search engine marketing." They sold a boatload of stock to the execs at 10 cents a share. In August 2005, they also retroactively ammended a purchase agreement from Jan 2004 (retroactive to Jan 2005) related to the purchase of Merchant Partners, a credit card processor. They also sold the gas wells back to Craig Carpenter--ther original owner of Source Energy.

There are also a number of preferred share transactions that occurred this summer. I'm sure that we'll eventually learn what rights the preferred shareholders have soon. Vista has their own product for the quick development of websites. They have a POS system that is in use in some locations. They can process credit card transactions for their clients websites, and can probably claim to manipulate search engine rankings. I don't see any Boca Raton connections, but it wouldn't surprise me. So, Vista is in good position to market get-rich-quick turn-key storefront websites on late night TV, if they choose to go that route. I would imagine that if they use Linux, they will be purchasing licenses from SCO. Other than that, and the fact that Bob Bench used to be SCO CFO, there does not appear to be any SCO connection whatsoever.

See all the long boring stock discussions.

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