Nerox Cancels Payment
- Share via
Nerox Energy Corp. said Tuesday it has canceled plans to use 525,000 shares of stock to pay consultants that the company hired to locate $6 million to finance an Alaskan coal mine.
Irvine-based Nerox said the consultants “failed to perform the services” contacted for. Jack Utter, Nerox’s president and chairman, declined to name the company, which he described as an England-based firm with expertise in developing and transporting coal.
Based on Tuesday’s closing price of 12 cents a share, the stock for the consultant’s fee was worth $63,000.
The company is working with other lenders and joint partners to pool money together for developing coal reserves in Alaska.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
