Past year: ▼ 90%(0.05c – 0.90c USD)
Each one in plain English, with the numbers worked through for a shareholder.
2 Sept 2021registration revoked▼ BadMajor
The SEC revoked Alphacom Holdings' securities registration effective September 2, 2021, for failure to file periodic reports - ending the Company's public reporting life without ever filing the FY2019 10-K flagged as late two years earlier.
1 Mar 2021director officer appointment● NeutralMajor
Yet another change of control: Marc&Hem Publicidad S.A. de C.V., a Mexican company based in Torreón, Coahuila, bought out Kraus, Silver and Martin's entire stake - 36,000,000 common shares (55%) plus all 7,500,000 Series A Preferred shares (100%) - for $60,000 total.
2 May 2019other material event● Neutral
The new Hong Kong-based management formed a wholly-owned subsidiary, inQbate Labs (HK) Limited, describing a business plan to develop new technologies through partner labs in the Philippines and the US and license them to industry distributors under a "four-year rollout plan" - and declared the Company no longer a shell as a result. No products, licensees or revenue existed yet.
25 Apr 2019director officer appointment● NeutralMajor
Another change of control: Mark Kraus, Scott Silver and George Albert Martin (all based in Hong Kong) were issued a combined 36,000,000 new shares (55% of the company) to take over as CEO/director, Secretary/director, and CFO/Treasurer/director respectively and "move the Company forward in a new direction."
18 Apr 2019auditor change● Neutral
Alphacom dismissed auditor PLS CPA (its auditor since inception) and engaged Sadler, Gibb & Associates, LLC effective April 15, 2019; both firms confirmed no accounting disagreements.
16 July 2018annual report▼ BadMajor
FY2018 (still no revenue, net loss $53,386): MITU disclosed that it could not meet the HeadWind license's payment terms, and in May 2018 the two sides signed a mutual Release and Settlement Agreement unwinding the license entirely and releasing all claims - the wind-turbine venture ended within three months of being announced, and the company was again "actively pursuing alternative business opportunities."
17 Apr 2018material agreement● Neutral
MITU and HeadWind amended the February 2018 license agreement's payment schedule for the $400,000 fee - $50,000 due within 3 days of the amendment and a further $50,000 within 10 days.
12 Feb 2018business combination● Neutral
A corrected refiling of the February 9 report with identical content, made because the original had inadvertently been submitted as an amended Form 8-K instead of a plain one.
9 Feb 2018business combination● NeutralMajor
MITU's original owners sold control: Simeon Leonardo Reyes Francisco bought 15,000,000 shares (about 50%) from founders Juan Perez and Nelson Rincon. The same day, MITU signed an Exclusive License and Distribution Agreement with HeadWind Technologies Ltd. for the intellectual property behind "Wind Shark," a self-starting vertical-axis wind turbine, for a $400,000 licensing fee (paid in tranches) plus a 3% royalty on sales - ending MITU's shell-company status. (This filing was mistakenly submitted as an amended 8-K rather than an original one; a corrected refiling with identical content followed three days later.)
29 June 2017annual report▼ Bad
FY2017: net loss widened further to $48,501, still on no revenue and still flagged for going-concern doubt.
29 June 2016annual report▼ Bad
FY2016: net loss widened to $40,953, which included a $5,000 impairment write-off of the MITU Gold Claim itself - the company's only asset - alongside continuing going-concern doubt and no revenue. Accumulated deficit reached $85,664.
14 July 2015annual report▼ Bad
FY2015 (year ended March 31, 2015): net loss of $31,472 on no revenue, cash of $6,184, and a going-concern qualification from the auditor - the gold claim remained unexplored for lack of funds.
