MINERALRITE Corp

After discussions with SEC staff, restated its FY2025 Form 10 and Q1 2026 financials, reclassifying the Peeples Inc. acquisition from business-combination to asset-acquisition accounting under ASC 805-50 -- a non-cash presentation fix with no fraud or cash issues alleged, but confirmation its recent re-registration is under active SEC review.

financial restatement

After years of dormancy (deregistered in 2018, revived under new leadership in 2025 as a Texas company), subsidiary Peeples Inc. signed a mineral materials lease with the Arizona State Land Department for 377 acres in Yavapai County running through 2043 -- the company's first real operating mineral asset in over a decade.

material agreement

MINERALRITE Corp deregistered its securities, ending its obligation to file reports with the SEC.

listing compliance notice

Took on a new $77,778 convertible note from River North Equity at a 10% original-issue discount and a 50%-of-market conversion price, secured by CEO Guy Peckham's own pledged preferred shares, plus a separate equity-line agreement -- deepening reliance on death-spiral financing with share count already above a billion.

material agreement

Issued 722 million more shares for just $35,022 of debt and drew another 12% convertible redeemable note; shares outstanding more than doubled again, to 1.32 billion, in two weeks.

capital raising announcement

Issued 197 million more shares to retire just $32,187 of debt and drew a new 8% convertible redeemable note, pushing shares outstanding toward 595 million as the dilution spiral deepened.

capital raising announcement

Issued another 59.6 million shares to retire just $23,073 of debt, taking shares outstanding to 401.7 million within two more weeks.

capital raising announcement

Issued 69 million new common shares over three weeks to retire just $46,150 of convertible-note and payables debt, pushing shares outstanding to 342 million -- an early sign of the toxic-note dilution spiral that would accelerate through the rest of 2014.

capital raising announcement

Insiders including CEO Guy Peckham exchanged 31 million common shares for new Series B Preferred stock, freeing up authorized common shares so the company could keep converting outstanding convertible notes into stock; Peckham separately swapped his own $100,000 note for Series A Preferred -- capital-structure moves that set up further heavy dilution.

capital raising announcement

Signed a $686,000 raw-materials supply contract with an unnamed Asian buyer for delivery into Vietnam, even as Santeo Financial and its assignees sued to collect the $397,193 note from the 2012 debt restructuring -- still the company's single largest liability.

material agreement

Entered a 50/50 joint venture with Mexican operator CSI Import and Export to run copper (and potentially iron ore) mining in Chiapas and Jalisco, funded by a new $100,000, 12%-interest convertible note -- the company's first toxic convertible-note financing.

capital raising announcement

Agreed to acquire 100% of Goldfield International, a Nevada company that manufactures gold and precious-gem recovery equipment, paying with 2 million restricted shares -- the deal that gave the newly renamed MineralRite an actual operating business.

business combination

Renamed MineralRite Corporation and installed new CEO Guy Peckham to pursue new ventures and capital raising; a 1:50 reverse split cut shares outstanding to about 1.06 million before 40 million new shares were issued to twelve people for services -- the company's second reset after the uranium venture went nowhere.

capital raising announcement

Now renamed Royal Quantum Group, the company amended its agreement to acquire 1,540 acres (77 claims) of uranium exploration ground next to the Sheep Mountain Mine in Wyoming, with $220,000 in staged payments due through January 2008.

material agreement

Then known as Platinum SuperYachts, the company sold its yacht-design assets and name back to a former officer in exchange for cancelling his 9 million shares, while issuing 14.97 million new shares to Santeo Financial (an entity affiliated with director Ron Ruskowsky) to retire a $149,700 debt -- handing Ruskowsky control of the shell.

asset acquisition disposition