8 Feb 2022listing compliance notice▼ BadMajor
Aziel Corp. suspended its duty to file periodic reports with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 Mar 2014capital raising announcement● Neutral
On March 27, 2014 the company issued 195,421 shares at a deemed $0.09 per share to one non-US person as payment of interest in kind. The filing does not name the lender; it is an inference that this relates to the convertible letter of credit from February 2013. It adds a small amount of dilution.
25 Mar 2014capital raising announcement● Neutral
As of March 18, 2014, Well Bright had paid $100,000 for 1,000,000 of the 2,000,000 units agreed in January, and the company issued 1,000,000 shares to it. The second $100,000 for the remaining units is not reported as received.
23 Jan 2014material agreement● NeutralMajor
Effective January 22, 2014, Well Bright Asia Pacific Limited of Hong Kong agreed to buy 2,000,000 units at $0.10 each ($200,000 total, paid $100,000 by January 31 and $100,000 by February 15, 2014). Each unit is one share plus one warrant exercisable at $0.10 for one year, so this brings in cash but dilutes existing shareholders. The filing is now signed by Barry Wattenberg as CFO and director rather than Markin.
18 Sept 2013asset acquisition disposition▲ Good
On September 1, 2013, US Tungsten completed registration of 64 mineral claims in Beaverhead, Montana (about 1,280 acres) at a cost of $12,096, after starting to stake them in March 2013. This is a new area, separate from the Calvert Property.
20 Feb 2013material agreement● NeutralMajor
Effective February 19, 2013, president Matthew Markin agreed to return 123,000,000 of his shares to the company for cancellation. This cuts the total share count, and it reduces the large holding Markin disclosed in 2011 (67.92% of votes). The filing does not say why, and the resulting share total is not stated.
19 Feb 2013capital raising announcement● NeutralMajor
In early 2013 the company signed several agreements: Dykes Geologic Systems to manage staking of claims in the Browne Lake and Greenstone areas of Montana ($27,500 for Browne Lake, $15,000 more if it proceeds with Greenstone, plus 100,000 shares); a letter of credit from a non-US person to lend up to $1,000,000 over one year, convertible at $0.30 per share with 5% annual interest; a 12-month investor relations deal with Circadian Group at $6,000 a month; and a 3-month consulting deal with Gultig Holdings for 150,000 shares. On February 19, 2013 it issued 100,000 shares to Dykes Geologic and 150,000 to Gultig. If the loan is fully converted, the company will issue Themis Partners a three-year warrant for 2,000,000 shares at $0.80, so shareholders face possible dilution.
24 Oct 2012material agreement● Neutral
Effective October 1, 2012, US Tungsten signed a formal Property Option Agreement with Paul and Ted Antonioli that confirms the Calvert Property option it took over from Mr. Pulos. The terms match the September filing: $1,000,000 in scheduled payments (next $5,000 by October 1, 2012, then $15,000 by June 18, 2013), a 2% net smelter royalty, and a right to buy back 1.8% for $1,500,000 within 9 months of commercial production.
7 Sept 2012material agreement● NeutralMajor
The company, now filing as US Tungsten Corp., bought from John M. Pulos for $5,000 an option to acquire 100% of the Calvert Property, three unpatented mineral claims (60 acres) in Calvert, Montana. Exercising the option requires payments totalling $1,000,000 to the owners, Paul and Ted Antonioli, and the property carries a 2% net smelter royalty (1.8% repurchasable for $1,500,000 within 9 months after commercial production starts). The filing is signed by Matthew Markin, the president already known from earlier filings. The name change and move into tungsten exploration are inferred from the filing's name and subject; the filing does not explain them.