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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):<B>
June 30, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMERICAN STANDARD ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 31%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center">000-54471</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 30%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center">20-2791397</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other jurisdiction <BR>
of incorporation or organization)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(IRS Employer Identification <BR>
No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 49%; vertical-align: top; border-bottom: windowtext 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>4800 North Scottsdale Road</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Suite 1400</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Scottsdale, Arizona</B></P></TD>
    <TD STYLE="width: 3%; vertical-align: top">&nbsp;</TD>
    <TD STYLE="width: 48%; vertical-align: bottom; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center">85251</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Address of principal executive offices)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; text-align: center">Registrant&rsquo;s telephone number, including area code:<B> (480) 371-1929</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24%">&nbsp;</TD>
    <TD STYLE="width: 52%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center">Not Applicable</TD>
    <TD STYLE="width: 24%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(Former name or former address, if changed since last report)</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; font-weight: bold">Item 1.01</TD>
    <TD STYLE="width: 89%; font-weight: bold">Entry into a Material Definitive Agreement.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">Item 3.02</TD>
    <TD STYLE="font-weight: bold">Unregistered Sales of Equity Securities.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">Item 3.03</TD>
    <TD STYLE="font-weight: bold">Material Modification to Rights of Security Holders</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">Item 5.03</TD>
    <TD STYLE="font-weight: bold">Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Payment and Settlement Agreement</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 30, 2012, the Company, the Company&rsquo;s
wholly-owned subsidiaries, ASEN 2, Corp. (&ldquo;ASEN 2&rdquo;) and American Standard Energy Corp., and XOG Operating LLC (&ldquo;XOG&rdquo;),
entered into a Payment and Settlement Agreement (the &ldquo;Payment Agreement&rdquo;) whereby the Company agreed to issue 4,444,445
shares (the &ldquo;XOG Shares&rdquo;) of the Company&rsquo;s common stock (the &ldquo;Common Stock&rdquo;) to XOG at a price per
share equal to $2.25 as payment of the $10,000,000 outstanding and owed to XOG pursuant to certain Joint Interest Billing Statements
(&ldquo;JIBs&rdquo;) issued by XOG from January 1, 2012, through and including June 30, 2012 and delivered to the Company&rsquo;s
subsidiaries in connection with certain Joint Operating Agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the terms of the Payment Agreement,
the Company granted piggy-back registration rights with respect to XOG Shares if the Company files a registration statement in
connection with an underwritten public offering within one year from the date of the Payment Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Exchange Agreement</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 30, 2012, the Company entered
into an Exchange Agreement with Geronimo Holding Corporation (&ldquo;Geronimo&rdquo;) pursuant to which the Company agreed to
issue 35,400 shares (the &ldquo;Geronimo Shares&rdquo;) of the Company&rsquo;s newly created Series A Cumulative Convertible
Preferred Stock (&ldquo;Preferred Stock&rdquo;) to Geronimo having the rights and preferences set forth in a Certificate of
Designation in exchange for the cancelation of a $35 million principal amount note (the &ldquo;Note&rdquo;) made by the
Company in favor of Geronimo on March 5, 2012 in connection with a purchase and sale agreement (the &ldquo;Purchase
Agreement&rdquo;) pursuant to which the Company acquired certain oil and gas leasehold properties, including any accrued and
unpaid interest thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The terms of the Purchase Agreement provided
for a reduction or setoff of the principal amount of the Note under certain conditions. Pursuant to the terms of the Exchange Agreement,
in the event that the Company would have been entitled to any reduction in or setoff against the principal amount of the Note pursuant
to the terms of the Purchase Agreement, Geronimo is obligated to transfer a portion of the Geronimo Shares equal to one share of
Preferred Stock and any dividends accrued thereon for each $1,000 that would have resulted in a reduction in, or setoff against,
the principal amount of the Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Certificate of Designation,
the Preferred Stock accrues cumulative dividends semi-annually at a rate per share equal to 7.5% per annum. The holders of the
Preferred Stock shall receive dividends when and if declared by the Company&rsquo;s board of directors in preference to and priority
over dividends declared on the Common Stock. Dividends are payable by the Company in either additional shares of Preferred Stock
for dividends accrued on or before June 30, 2014 or cash. Holders of Preferred Stock shall be entitled to receive $1,000 per share
in the event of a liquidation with priority over the Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Preferred Stock is convertible into
shares of common stock at a rate of 333.333 shares of Common Stock per share of Preferred Stock (the &ldquo;Conversion Rate&rdquo;)
or an initial conversion price of $3.00 per share on or after the later of (i) March 6, 2013 and (ii) the date on which the Company
increases the authorized but unissued shares of Common Stock to such number of shares as shall be sufficient to effect the conversion
of all then outstanding shares of the Preferred Stock on a fully-diluted basis. The Company is entitled to decrease the Conversion
Rate one time on or before June 30, 2014 to equal the quotient of $1,000 divided by the average closing sale price for the ten
trading day period after the Company makes the election, the effect of which would be to increase the conversion price. The Company
has the right, in its sole discretion, to cause all Preferred Stock to be automatically converted into shares of Common Stock at
the Conversion Rate if the closing sale price of the Common Stock equals or exceeds 150% of $3.00 for at least 10 trading days
during any 20 consecutive trading day period. Holders of Preferred Stock are not entitled to any voting rights, except as required
by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is affiliated with XOG and
Geronimo and has a working relationship with XOG, an exploration and production operator based in Midland, Texas. XOG is currently
contracted to operate the existing wells currently held by the Company in the Permian Basin region.&nbsp;&nbsp;Randall Capps has
controlling ownership of XOG and Geronimo, and is a member of the Company&rsquo;s board of directors.&nbsp;&nbsp;Through Mr. Capps&rsquo;
direct and indirect holdings of the Company&rsquo;s Common Stock, Mr. Capps beneficially owns over majority of the Company&rsquo;s
Common Stock and is the largest shareholder of the Company&rsquo;s Common Stock and Preferred Stock.&nbsp;&nbsp;Mr. Capps is also
the father-in-law of Scott Feldhacker, the Company&rsquo;s chief executive officer and a director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Exchange Agreement, Payment Agreement
and the related transactions were approved by the Special Committee. The Special Committee also obtained a fairness opinion from
Vantage Point Advisors<FONT STYLE="color: black"> </FONT>that stated that the terms of the agreements were fair from a financial
point of view to the holders of the Common Stock of the Company, other than the affiliated parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The issuances of the XOG Shares and the
Geronimo Shares were not registered under the Securities Act and the above referenced issuances qualified for exemption under Section
4(2) of the Securities Act since the issuance of securities by us did not involve a public offering. The issuances were not a &ldquo;public
offering&rdquo; as defined in Section 4(2) due to the insubstantial number of persons involved, size of the offering, manner of
the offering and number of securities offered. We did not undertake an offering in which we sold a high number of securities to
a high number of investors. In addition, XOG and Geronimo represented that they had the necessary investment intent as required
by Section 4(2) since XOG and Geronimo agreed to and received securities bearing a legend stating that such securities are restricted
pursuant to the Securities Act. This restriction ensures that these securities would not be immediately redistributed into the
market and therefore not be part of a &ldquo;public offering.&rdquo; Based on an analysis of the above factors, we have met the
requirements to qualify for exemption under Section 4(2) of the Securities Act for this transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Current Report on Form 8-K contains
summaries of the material terms of various agreements executed in connection with the transactions described herein.&nbsp;&nbsp;The
summaries of these agreements are subject to, and qualified in their entirety by reference to these agreements, all of which are
attached as exhibits hereto and incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; font-weight: bold">Item 9.01</TD>
    <TD STYLE="width: 89%; font-weight: bold">Financial Statements and Exhibits.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 8%; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Number</B></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 90%; border-bottom: black 1pt solid; font-weight: bold">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">4.1</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">Certificate of Designation of Series A Cumulative Convertible Preferred Stock</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">10.1</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">Exchange Agreement by and between the Company and Geronimo Holding Corporation dated as of June 30, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">10.2</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">Payment and Settlement Agreement by and among the Company, ASEN 2, Corp. and XOG Operating LLC, dated as of June 30, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;Dated: July 6, 2012</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold">AMERICAN STANDARD ENERGY CORP.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font-style: italic">/s/ Scott Feldhacker</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 53%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 32%">Scott Feldhacker</TD>
    <TD STYLE="width: 11%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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[{"type": "8-K", "sequence": "1", "filename": "v317929_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 23501}]
{"company-data": {"conformed-name": "American Standard Energy Corp.", "cik": "0001349976", "assigned-sic": "1381", "irs-number": "202791397", "state-of-incorporation": "DE", "fiscal-year-end": "1130"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-54471", "film-number": "12951195"}, "business-address": {"street1": "4800 NORTH SCOTTSDALE ROAD", "street2": "SUITE 1400", "city": "SCOTTSDALE", "state": "AZ", "zip": "85281", "phone": "(757) 961-0866"}, "mail-address": {"street1": "4800 NORTH SCOTTSDALE ROAD", "street2": "SUITE 1400", "city": "SCOTTSDALE", "state": "AZ", "zip": "85281"}, "former-company": {"former-conformed-name": "Famous Uncle Als Hot Dogs & Grille Inc", "date-changed": "20060117"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 30, 2012
AMERICAN STANDARD ENERGY CORP.
(Exact name of registrant as specified in
its charter)
Delaware
000-54471
20-2791397
(State or other jurisdiction
of incorporation or organization)
(Commission File Number)
(IRS Employer Identification
No.)
4800 North Scottsdale Road
Suite 1400
Scottsdale, Arizona
85251
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
(480) 371-1929
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
¨
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
¨
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
Item 1.01
Entry into a Material Definitive Agreement.
Item 3.02
Unregistered Sales of Equity Securities.
Item 3.03
Material Modification to Rights of Security Holders
Item 5.03
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Payment and Settlement Agreement
On June 30, 2012, the Company, the Company's
wholly-owned subsidiaries, ASEN 2, Corp. ("ASEN 2") and American Standard Energy Corp., and XOG Operating LLC ("XOG"),
entered into a Payment and Settlement Agreement (the "Payment Agreement") whereby the Company agreed to issue 4,444,445
shares (the "XOG Shares") of the Company's common stock (the "Common Stock") to XOG at a price per
share equal to $2.25 as payment of the $10,000,000 outstanding and owed to XOG pursuant to certain Joint Interest Billing Statements
("JIBs") issued by XOG from January 1, 2012, through and including June 30, 2012 and delivered to the Company's
subsidiaries in connection with certain Joint Operating Agreements.
Pursuant to the terms of the Payment Agreement,
the Company granted piggy-back registration rights with respect to XOG Shares if the Company files a registration statement in
connection with an underwritten public offering within one year from the date of the Payment Agreement.
Exchange Agreement
On June 30, 2012, the Company entered
into an Exchange Agreement with Geronimo Holding Corporation ("Geronimo") pursuant to which the Company agreed to
issue 35,400 shares (the "Geronimo Shares") of the Company's newly created Series A Cumulative Convertible
Preferred Stock ("Preferred Stock") to Geronimo having the rights and preferences set forth in a Certificate of
Designation in exchange for the cancelation of a $35 million principal amount note (the "Note") made by the
Company in favor of Geronimo on March 5, 2012 in connection with a purchase and sale agreement (the "Purchase
Agreement") pursuant to which the Company acquired certain oil and gas leasehold properties, including any accrued and
unpaid interest thereon.
The terms of the Purchase Agreement provided
for a reduction or setoff of the principal amount of the Note under certain conditions. Pursuant to the terms of the Exchange Agreement,
in the event that the Company would have been entitled to any reduction in or setoff against the principal amount of the Note pursuant
to the terms of the Purchase Agreement, Geronimo is obligated to transfer a portion of the Geronimo Shares equal to one share of
Preferred Stock and any dividends accrued thereon for each $1,000 that would have resulted in a reduction in, or setoff against,
the principal amount of the Note.
Pursuant to the Certificate of Designation,
the Preferred Stock accrues cumulative dividends semi-annually at a rate per share equal to 7.5% per annum. The holders of the
Preferred Stock shall receive dividends when and if declared by the Company's board of directors in preference to and priority
over dividends declared on the Common Stock. Dividends are payable by the Company in either additional shares of Preferred Stock
for dividends accrued on or before June 30, 2014 or cash. Holders of Preferred Stock shall be entitled to receive $1,000 per share
in the event of a liquidation with priority over the Common Stock.
The Preferred Stock is convertible into
shares of common stock at a rate of 333.333 shares of Common Stock per share of Preferred Stock (the "Conversion Rate")
or an initial conversion price of $3.00 per share on or after the later of (i) March 6, 2013 and (ii) the date on which the Company
increases the authorized but unissued shares of Common Stock to such number of shares as shall be sufficient to effect the conversion
of all then outstanding shares of the Preferred Stock on a fully-diluted basis. The Company is entitled to decrease the Conversion
Rate one time on or before June 30, 2014 to equal the quotient of $1,000 divided by the average closing sale price for the ten
trading day period after the Company makes the election, the effect of which would be to increase the conversion price. The Company
has the right, in its sole discretion, to cause all Preferred Stock to be automatically converted into shares of Common Stock at
the Conversion Rate if the closing sale price of the Common Stock equals or exceeds 150% of $3.00 for at least 10 trading days
during any 20 consecutive trading day period. Holders of Preferred Stock are not entitled to any voting rights, except as required
by law.
The Company is affiliated with XOG and
Geronimo and has a working relationship with XOG, an exploration and production operator based in Midland, Texas. XOG is currently
contracted to operate the existing wells currently held by the Company in the Permian Basin region.  Randall Capps has
controlling ownership of XOG and Geronimo, and is a member of the Company's board of directors.  Through Mr. Capps'
direct and indirect holdings of the Company's Common Stock, Mr. Capps beneficially owns over majority of the Company's
Common Stock and is the largest shareholder of the Company's Common Stock and Preferred Stock.  Mr. Capps is also
the father-in-law of Scott Feldhacker, the Company's chief executive officer and a director.
The Exchange Agreement, Payment Agreement
and the related transactions were approved by the Special Committee. The Special Committee also obtained a fairness opinion from
Vantage Point Advisors
that stated that the terms of the agreements were fair from a financial
point of view to the holders of the Common Stock of the Company, other than the affiliated parties.
The issuances of the XOG Shares and the
Geronimo Shares were not registered under the Securities Act and the above referenced issuances qualified for exemption under Section
4(2) of the Securities Act since the issuance of securities by us did not involve a public offering. The issuances were not a "public
offering" as defined in Section 4(2) due to the insubstantial number of persons involved, size of the offering, manner of
the offering and number of securities offered. We did not undertake an offering in which we sold a high number of securities to
a high number of investors. In addition, XOG and Geronimo represented that they had the necessary investment intent as required
by Section 4(2) since XOG and Geronimo agreed to and received securities bearing a legend stating that such securities are restricted
pursuant to the Securities Act. This restriction ensures that these securities would not be immediately redistributed into the
market and therefore not be part of a "public offering." Based on an analysis of the above factors, we have met the
requirements to qualify for exemption under Section 4(2) of the Securities Act for this transaction.
This Current Report on Form 8-K contains
summaries of the material terms of various agreements executed in connection with the transactions described herein.  The
summaries of these agreements are subject to, and qualified in their entirety by reference to these agreements, all of which are
attached as exhibits hereto and incorporated by reference herein.
Item 9.01
Financial Statements and Exhibits.
(d)        Exhibits
Exhibit
Number
Description
4.1
Certificate of Designation of Series A Cumulative Convertible Preferred Stock
10.1
Exchange Agreement by and between the Company and Geronimo Holding Corporation dated as of June 30, 2012
10.2
Payment and Settlement Agreement by and among the Company, ASEN 2, Corp. and XOG Operating LLC, dated as of June 30, 2012
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: July 6, 2012
AMERICAN STANDARD ENERGY CORP.
By:
/s/ Scott Feldhacker
Scott Feldhacker
Chief Executive Officer