Formerly Unioil Exploration and Mineral Development Company, Inc., Unioil Resources & Holdings Company, Inc. (UNI) was incorporated on March 10, 1987 by a group of bankers, lawyers and businessmen, most of whom had extensive experience in oil exploration and mineral development projects. In 1992, the company changed its name to Unioil & Gas Development Company, Inc., and on June 25, 1997, the Securities and Exchange Commission approved another change in the company's name to the present one. UNI also shifted its primary purpose to that of a holding company. At present, UNI is no longer directly engaged in oil exploration and mineral development. The company is now a holding firm engaged primarily in investment banking and other related concerns like equity and quasi-equity fund mobilization. All the oil exploration assets and liabilities were spun off into another oil exploration company called Phoenix Energy Corporation, in exchange for notes, which are now carried on the books of UNI as long-term receivables. Source: SEC Form 17-A (2008)