6 July 2020listing compliance notice▼ BadMajor
Banny Cosmic International Holdings, Inc deregistered its securities, ending its obligation to file reports with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 Nov 2019farm in farm out agreement● Neutral
On Nov 26, 2019 the company was told by Cosmic Equity Group Limited, its majority shareholder (115,000,000 shares, 81.48%), that Cosmic had given sales agents options to buy up to 69,209,658 of Cosmic's own shares at $1.00 each: 35,706,720 offered in May, June and August 2018 (2-year term) and 33,502,938 offered in December 2018 (expiring about Aug 31, 2020). Cosmic wants to extend both option periods to Dec 31, 2021; if all were exercised Cosmic would hold 45,790,342 shares (32.44%). These are existing shares held by Cosmic, so the company issues no new shares and receives no money; the filing says president Liu Wenxin is Cosmic's principal shareholder. This gives context to the Sept 2018 company option grant that was cancelled in Nov 2018, though the filing does not say the two are linked (inference only).
13 Feb 2019late filing notice▼ Bad
Banny Cosmic International Holdings, Inc notified the SEC that its quarterly report would be filed late.
14 Nov 2018material agreement termination▲ Good
On November 6, 2018 the parties signed a mutual cancellation agreement that cancelled the option to buy 36,000,000 shares issued on September 21, 2018. This resolves that option grant, so the potential dilution from it is gone.
13 Nov 2018quarterly activities report● Neutral
Banny Cosmic International Holdings, Inc reported quarterly revenue of $395 thousand and net income of $33 thousand for the period ended 2018-09-30.
26 Sept 2018late filing notice▼ Bad
Banny Cosmic International Holdings, Inc notified the SEC that its annual report would be filed late.
25 Sept 2018capital raising announcement▼ Bad
On September 21, 2018 the company issued options to buy up to 36,000,000 of its shares to persons outside the United States. The filing gives no exercise price, recipients or consideration, and the company, now named Banny Cosmic International Holdings, is signed by Liu Wenxin as Director and President.
11 May 2018quarterly activities report▼ Bad
Banny Cosmic International Holdings, Inc reported a quarterly net loss of $19 thousand for the period ended 2018-03-31.
15 Feb 2018quarterly activities report▼ Bad
Banny Cosmic International Holdings, Inc reported a quarterly net loss of $132 thousand for the period ended 2017-12-31.
13 Feb 2018late filing notice▼ Bad
Banny Cosmic International Holdings, Inc notified the SEC that its quarterly report would be filed late.
18 Dec 2017capital raising announcement▼ BadMajor
On December 12, 2017 the company and its subsidiary Gain First Group signed a deal making Gain First the sole sales agent for French wine producer De Lasselle Ltd. across South-East Asia (Vietnam, Thailand, Malaysia, Indonesia, Cambodia, Myanmar, Singapore). In return the company issued De Lasselle 75,000,000 shares, which is a large dilution compared with the roughly 26 million shares outstanding in October 2017 plus the 20 million issued to acquire Gain First (before any other changes). The filing states no cash terms.
20 Nov 2017quarterly activities report▼ Bad
Banny Cosmic International Holdings, Inc reported a quarterly net loss of $14 thousand for the period ended 2017-09-30.
14 Nov 2017late filing notice▼ Bad
Banny Cosmic International Holdings, Inc notified the SEC that its quarterly report would be filed late.
3 Nov 2017auditor change● Neutral
The board appointed KR Margetson, Ltd. as auditor for the fiscal year ending June 30, 2018, replacing Weld Asia Associates, who had been engaged in January 2014. The filing reports no disagreements or reportable events.
12 Oct 2017capital raising announcement▼ BadMajor
On October 12, 2017 the company issued 20,000,000 of its shares in exchange for 50,000 shares of Gain First Group Corporation (British Virgin Islands), making it a wholly owned subsidiary. The filing states Gain First is a newly formed startup with nominal assets and no operating history, so existing shareholders were diluted for a company with no assets or history.
4 Oct 2017business combination● NeutralMajor
A Schedule 14F-1 notice says that under a stock purchase agreement of about September 18, 2017, purchasers will buy about 3,811,429 shares of the company (then called Wincash Apolo Gold & Energy), and the board will be reshuffled so that Jeffrey Firestone becomes President and Chow Wing Fai becomes CEO and CFO. This is a change in control of the board, with no shareholder vote required. About 26,137,387 common shares were outstanding.
12 May 2017quarterly activities report▼ Bad
Banny Cosmic International Holdings, Inc reported a quarterly net loss of $20 thousand for the period ended 2017-03-31.
13 Feb 2017quarterly activities report▼ Bad
Banny Cosmic International Holdings, Inc reported a quarterly net loss of $21 thousand for the period ended 2016-12-31.
10 Nov 2016quarterly activities report▼ Bad
Banny Cosmic International Holdings, Inc reported a quarterly net loss of $22 thousand for the period ended 2016-09-30.
28 Sept 2016late filing notice▼ Bad
Banny Cosmic International Holdings, Inc notified the SEC that its annual report would be filed late.
5 May 2016quarterly activities report▼ Bad
Banny Cosmic International Holdings, Inc reported a quarterly net loss of $173 thousand for the period ended 2016-03-31.
1 Feb 2016quarterly activities report▼ Bad
Banny Cosmic International Holdings, Inc reported a quarterly net loss of $289 thousand for the period ended 2015-12-31.
19 Nov 2015quarterly activities report▼ Bad
Banny Cosmic International Holdings, Inc reported a quarterly net loss of $17 thousand for the period ended 2015-09-30.
16 Nov 2015late filing notice▼ Bad
Banny Cosmic International Holdings, Inc notified the SEC that its quarterly report would be filed late.
30 Apr 2015quarterly activities report▼ Bad
Banny Cosmic International Holdings, Inc reported a quarterly net loss of $16 thousand for the period ended 2015-03-31.
12 Feb 2015quarterly activities report▼ Bad
Banny Cosmic International Holdings, Inc reported a quarterly net loss of $57 thousand for the period ended 2014-12-31.
21 Jan 2015material agreement termination▼ BadMajor
As of January 19, 2015 the company and Yinfu Gold Corporation mutually agreed to cancel the December 2013 purchase of the 70% interest in three Xinjiang gold claims. The rights go back to Yinfu, no penalties were charged, and the six million shares issued will be returned for cancellation. This ends the company's first China acquisition.
31 Dec 2014quarterly activities report▼ Bad
Banny Cosmic International Holdings, Inc reported a quarterly net loss of $57 thousand for the period ended 2014-12-31.
14 Nov 2014quarterly activities report▼ Bad
Banny Cosmic International Holdings, Inc reported a quarterly net loss of $42 thousand for the period ended 2014-09-30.
23 Sept 2014material agreement termination▼ BadMajor
On September 17, 2014 the company terminated both Everenergy purchase agreements because the sellers and Everenergy had not carried out the promised audit by a PCAOB-qualified auditor despite numerous requests. It says it will cancel the 19 million shares issued and recover the US$1 million from Mr. Qinjian, reversing the 53% control stake built up in December 2013 and February 2014. Note that this filing says the $1 million was paid for the Hu Qinjian deal, whereas the earlier filings tied the $1 million cash to the Tang Wenbo 24% purchase, and the filing does not explain the difference.