Item 2.01. Completion of Acquisition or Disposition of Assets.
On March 15, 2021, the Company completed a transaction whereby it acquired One
Hundred percent (100%) of the ownership interests of Torrance Petroleum LLC, a
Wyoming limited liability company, in exchange for transfer of Sixty Million
Four Hundred Twenty-five Thousand (60,425,000) restricted shares of Company
common stock, $0.00001 par value, (the "BKRP Common Shares") owned by Zoltan
Nagy, President/CEO of the Company, to the Seller, Affluence Projects LLC, a
Delaware limited liability company. The original agreement provided that, in
addition to transfer of the BKRP Common Shares to Seller, the Company would
issue to Seller shares of a new class of preferred stock, i.e., Fifty Million
(50,000,000) shares of Series A Preferred Stock. The amended agreement
eliminated the shares of Series A Preferred Stock being issued to the Seller. As
a result, no additional shares of Company stock were issued by the Company
pursuant to the transaction, as the BKRP Shares being transferred to the Seller
had been owned by Mr. Nagy and, thus, were already counted in the number of
common shares issued and outstanding prior to the closing of the transaction.
Item 5.02. Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
As a condition of the closing of the transaction, on March 9, 2021, the
Company's Board of Directors elected Sivakumar Coramutla, director of Affluence
Projects LLC, as a Director of the Company effective immediately.
Sivakumar Coramutla, age 55 years, is a seasoned entrepreneur and corporate
director and has served as a senior executive in many industry sectors in
various key positions globally. Holding an MBA with a Masters in Electronics
from a USA institution and a Bachelor of Engineering from one of the premier
institutes in India. he started his career with one of the largest Wall Street
firms as a director of information technology services and moved on to become a
Vice President for Asset Management where he obtained his core experience and
work associations with industry leaders in oil and gas firms. He quickly moved
on and set up a firm to build a Liquid Natural Gas offshore regasification
Terminal in India, the first such Floating Storage and Regasification Unit. Mr.
Coramutla has many distinguished accomplishments in multi-disciplinary project
managements and focused strategic business developments. He is as an
award-winning entrepreneur, named New Jersey Businessman of the Year, selected
to be the Honorary Chairman for the Business Advisory Council in Washington, DC,
and election to serve for the State of New Jersey on the presidential council in
2002-2003
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