2 Apr 2008director interest notice● Neutral
Penton Gillian became a Bio-AMD Inc. 10%+ owner and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
28 Feb 2008securities registration● Neutral
Bio-AMD Inc. amended a filing by which it registered a securities offering with the SEC.
7 Nov 2007securities registration● Neutral
Bio-AMD Inc. registered a small-business securities offering with the SEC.
9 Oct 2007material agreement● Neutral
On September 28, 2007 the Flex Fuels subsidiary signed an Early Works Agreement with Lurgi Aktiengesellschaft, priced at about $500,000. Lurgi will do the design and cost estimates needed for a fixed-price construction contract for a seed press/solvent extraction plant and biodiesel refinery. It is a preparatory step on the plan to build biodiesel facilities, not a construction contract.
14 Sept 2007asset acquisition disposition● Neutral
This amended filing only carries an exhibit: a report dated 24 August 2007 on the value of intangible assets relating to the Flex Fuels Energy Limited acquisition. The text provided gives no figures or conclusions from it.
22 Aug 2007director interest notice● Neutral
Iestyn Morgan became a Bio-AMD Inc. 10%+ owner and company insider (initial ownership filing).
15 Aug 2007late filing notice▼ Bad
Bio-AMD Inc. notified the SEC that its quarterly report would be filed late.
6 Aug 2007capital raising announcement● NeutralMajor
The company, now named Flex Fuels Energy, Inc., closed a further private placement on July 31, 2007: 4,871,838 shares at $0.90 for gross proceeds of $4,384,653.80, with another 81,667 shares ($73,500) conditionally sold. This adds to the share count after the May deal. The filing also confirms the name change from Malibu Minerals, effective July 6, 2007, and a new ticker, FXFL.OB. It commits the company to register the shares, with liquidated damages if it is late.
What it means for a shareholder
4.9m new shares at $0.900 to raise about $4.4m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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16 July 2007financial restatement▼ BadMajor
On July 13, 2007 management concluded the 2006 annual and March 2007 quarterly financial statements should no longer be relied on, because of unrecorded liabilities and legal costs that were wrongly expensed. The 2006 net loss was restated from $60,905 to $33,024, and the March 2007 quarter loss from $40,986 to $74,436. Amended reports were expected in August 2007.
3 July 2007auditor change● Neutral
On June 29, 2007 the company dismissed its auditor Moore & Associates and hired BDO Stoy Hayward LLP. The filing says there were no disagreements, and Moore's reports for 2005 and 2006 carried only a going-concern warning.
19 June 2007director interest notice● Neutral
Alan Ewart Gordon became a Bio-AMD Inc. Chief Executive Officer and company insider (initial ownership filing).
19 June 2007director interest notice● Neutral
Jtc Trustees Limited As Trustee Of The Logo Investment Trust became a Bio-AMD Inc. 10%+ owner and company insider (initial ownership filing).
12 June 2007director interest notice● Neutral
Paul Gothard became a Bio-AMD Inc. Chief Financial Officer and company insider (initial ownership filing).
5 June 2007asset acquisition disposition● NeutralMajor
The Flex Fuels acquisition closed on May 29, 2007: the company issued 24,854,477 shares for the remaining 85%, and Flex Fuels became a wholly owned subsidiary, leaving 64,454,494 shares outstanding. It also raised $14,924,359.50 selling 16,582,621 shares at $0.90, provided $11,800,000 to Flex Fuels, and added Paul Gothard and Gordon Alan Ewart to the board. This completes the deal announced in January and is a major change from the original gold-claim business. A five-for-one stock dividend was paid to holders of record on May 21, 2007.
4 June 2007director interest notice● Neutral
Bio-AMD Inc. VP-Alternative Fuel Operations Thomas Barr received 137,344 shares as part of the equity award.
4 June 2007director interest notice● Neutral
Bio-AMD Inc. VP-Alternative Fuel Operations Thomas Barr bought 200,000 shares on the open market at $0.01.
29 May 2007director interest notice● Neutral
Bio-AMD Inc. Vice President of Alternative Thomas Barr received 137,344 shares as part of the equity award.
2 Apr 2007late filing notice▼ Bad
Bio-AMD Inc. notified the SEC that its annual report would be filed late.
28 Mar 2007director interest notice● Neutral
Bio-AMD Inc. CEO, CFO, Pres, Treasurer, Sec James William Laird disposed of 5,000,000 shares via option/appreciation-right settlement.
2 Feb 2007director interest notice● Neutral
James William Laird became a Bio-AMD Inc. CEO, CFO, Pres, Treasurer, Sec and company insider (initial ownership filing).
17 Jan 2007securities registration● Neutral
Bio-AMD Inc. filed the final prospectus for a registered offering.
5 Jan 2007capital raising announcement● NeutralMajor
Bio-AMD Inc., then called Malibu Minerals, signed a deal on December 29, 2006 to buy Flex Fuels Energy Limited, a developmental-stage UK biodiesel company. It paid $1,500,000 for 15% now and agreed to buy the other 85% for 24,854,479 new shares, subject to conditions including raising at least $11,800,000. The $1,500,000 came from a $1,650,000 sale of 2,357,143 shares at $0.70 to non-U.S. investors. Director Thomas Barr was appointed to the Flex Fuels board.
What it means for a shareholder
2.4m new shares at $0.700 to raise about $1.6m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
26 Dec 2006director interest notice● Neutral
Thomas Barr became a Bio-AMD Inc. director and company insider (initial ownership filing).
4 Aug 2006listing compliance notice▼ Bad
Bio-AMD Inc. withdrew a registration statement, abandoning the offering it covered.