Company: CRCE
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001096906-25-000275
Chunk: 10

Company: Circle Energy, Inc./NV
Filing Date: 2025-03-20
Form: 10-K
Item: Item 8
Chunk 10
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000 
 
68.6% 

William R. Broaddrick
 
100,000 
 
6.5% 

1,150,000 
 
75.2% 

29

Beneficial ownership is determined under the rules of the SEC. In general, these rules attribute beneficial ownership of securities to persons who possess sole or shared voting power and/or investment power with respect to those securities and includes, among other things, securities that an individual has the right to acquire within 60 days. Unless otherwise indicated, the stockholders identified in the following table have sole voting and investment power with respect to all shares shown as beneficially owned by them.

Changes in Control

There are no arrangements known to us, including any pledge by any person of our securities, the operation of which may at a subsequent date result in a change in control of the Company.

Item 13:Certain Relationships and Related Transactions, and Director Independence 

Mr. Rochford as one of our founders purchased 1,200,000 shares at $0.20 per share for gross proceeds to the Company of $240,000 and transferred 100,000 of those shares to Mr. Broaddrick at no cost.  Subsequently, Mr. Rochford gifted 50,000 to a few unrelated parties.

As of December 31, 2024, the accounts payable on the Company’s balance sheet includes $110 payable to Mr. Broaddrick.  This amount consists of shipping related expenses incurred by Mr. Broaddrick in the normal course of business on the Company’s behalf.  

Policies and Procedures Regarding Related Party Transactions

We have not adopted a specific policy pursuant to which an actual or proposed financial transaction, arrangement or relationship with a related person is subject to review or approval or, if applicable, ratification, by our Board of Directors. Under Nevada law any contract or other transaction between the company and one or more of its officers or directors or another entity in which one or more of the directors or officers are directors or officers or are financially interested may be void or voidable unless (i) the common relationship is disclosed to the remaining disinterested directors who thereafter approve or ratify the contract or transaction; (ii) the common relationship is disclosed to shareholders and shareholders holding a majority of the voting power of the company, including shares held by the interested officer or director, approve or ratify the contract or transaction, or (iii) the contract or transaction is fair as to the company at the