History
A small mineral explorer called Gryphon Resources sold its Turkish unit, dropped out of SEC reporting, then reappeared in 2020 as Ameritrust, a real estate company buying Nevada ranch land.
2010-2011: Mineral options in Arizona
Gryphon Resources was a mineral explorer that, in 2010, tidied its holdings and turned to Arizona. On July 19, 2010 it took an option on the L.G. Property in south-eastern Arizona from Noel Cousins and Steven Van Ert. Exercising it would need $240,000 in cash, at least $550,000 of spending on the property and 1,000,000 restricted shares, with royalties and 1,000,000 more shares owed afterwards.
On September 27, 2010 it sold its 99% stake in its Turkish subsidiary, APM Madencilik Ltd., to Albus Holdings S.A. The buyer took on US$97,920.04 of APM's debts to third parties, while Gryphon forgave US$15,338.14 owed to it and gave up any interest in APM's exploration claims.
On January 21, 2011 Gryphon signed a binding option on the Cruce property, following a November 2010 letter of intent. It required US$265,000, at least US$335,000 of spending and 2,600,000 restricted shares over three years, plus a 3% royalty. Gryphon had already paid $40,000 and issued 100,000 shares. The filings do not say whether either option was exercised or lapsed. Shares on issue were 117,425,000 at the end of 2011.
2012-2019: Leaving SEC reporting
On May 3, 2012 the company, by then named Ameritrust Corp, deregistered its securities, ending its duty to file reports with the SEC. The record is quiet for the following years. The share count was 117,675,000 at the end of 2018 and 267,675,000 at the end of 2019, but the beats do not explain the change.
2020-2021: A new business
On August 28, 2020 the company merged with a Georgia corporation also called Ameritrust Corporation, with the Wyoming entity surviving. Georgia shareholders received one share for each share held. The company now described itself as a real estate holding, developing and operating business, a clear break from the Arizona mineral options.
On February 16, 2021 it completed the purchase of about 25,173 acres of vacant land in Lander County, Nevada, for $6,950,000. It paid part in cash and the rest with a $4,000,000 promissory note at 6.5%, due February 16, 2023. It said it intended to develop the land into a cattle ranch exporting beef to China. As of April 2021, that plan and the note remained outstanding.
Written from the 6 story beats below (2010 to 22 Mar 2021), which come from the company's own announcements and filings.