2 Sept 2025material agreement▲ Good
BluSky AI agreed to buy 36.06 acres in Walsenburg, Colorado from Snowy River Ranches, LLC for $248,000 -- expanding its land holdings for the new infrastructure business beyond the Utah data-center site.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
7 July 2025material agreement▲ GoodMajor
BluSky AI acquired the assignment of a 9.3 megawatt solar/grid-interconnected power commitment (at $0.068/kWh) for a planned data-center project in Milford, Beaver County, Utah, from Digital Asset Management, LLC, paying 20,000,000 shares -- and separately signed a two-year ground lease (with purchase option) for 51.6 acres at the site from Wild Mustang Ventures LLC. This defines BluSky AI's new business: AI/data-center power infrastructure.
12 Mar 2025security holder rights change▲ GoodMajor
The company executed a 1-for-1,000 reverse stock split and renamed itself BLUSKY AI, INC. (new ticker BSAI) -- a clean break from the Inception Mining identity and its mining/toxic-debt history, positioning for a new business direction.
28 Feb 2023capital raising announcement▼ BadMajor
Inception Mining converted years of accrued insider debt into stock in a single sweep -- issuing hundreds of millions of shares to CEO Trent D'Ambrosio (485.4 million shares for $1.699 million owed), Legends Capital Group (204.3 million for $715,000), the L W Briggs Irrevocable Trust (314.6 million for $1.101 million), and several smaller family/insider holders -- cleaning up the balance sheet at the cost of extreme dilution, right after exiting the Clavo Rico mine.
8 Feb 2023asset acquisition disposition▼ BadMajor
Inception Mining sold its Honduran subsidiary Compania Minera Cerros Del Sur (which owns the Clavo Rico mine) to Mother Lode Mining, Inc. -- exiting mining entirely after nearly a decade. Consideration included roughly $2.7 million already paid to cover Inception's existing debts plus $2.7 million more over 24 months, with Inception retaining a 10% NSR as security on missed payments and a 5% net-profits royalty capped at $1 million.
25 Jan 2023material agreement▲ GoodMajor
Inception Mining fully resolved the Antilles/Discover Growth Fund note dispute by paying Antilles $1.2 million cash, discharging the note and all related claims and ending the federal litigation -- trading a fixed cash payment for what could otherwise have been open-ended, massive dilution under the June 2022 settlement's share-reserve terms.
17 June 2022material agreement▼ BadMajor
Inception Mining settled a federal lawsuit (D. Del., filed Dec 2021) brought by Antilles Family Office, LLC -- which had acquired the 2019 Discover Growth Fund note -- alleging breach of the note and a subsequent forbearance agreement after Inception stopped making required payments in 2021. The settlement required reserving up to 10 billion shares for note conversion, with 541,449,789 shares to be reserved immediately -- an extraordinary potential dilution.
29 Apr 2021financial restatement▼ BadMajor
A second restatement, this time of Q2/Q3 2020, again tied to the 2019 convertible note -- revised principal payments, accrued interest, and derivative-liability valuations.
22 May 2020financial restatement▼ BadMajor
Inception Mining restated its Q2/Q3 2019 and full-year 2019 financial statements after determining the valuation method used for the 2019 convertible note's derivative liability was inadequate -- the note's complexity was already causing accounting problems within a year of issuance.
23 May 2019material agreement▼ BadMajor
Inception Mining took on a much larger toxic note -- a $4.25 million face-value Senior Secured Redeemable Convertible Note (for $3 million cash) plus warrants for 9,250,000 shares, from an investor later identified as Discover Growth Fund, LLC -- convertible at a steep discount to the five lowest recent trading prices, with the discount worsening further on each contractual 'Trigger Event.' This note would go on to trigger two financial restatements and federal litigation.
15 Dec 2015business combination● Neutral
The delayed amendment to the Clavo Rico closing 8-K, adding the Honduran mine's audited accounts and pro-forma numbers and shifting the company's year-end to 31 December to match them. It also records the merger clean-up terms - 4.6 million insider shares retired, and the two-quarters-of-positive-EBITDA condition dropped from CEO Michael Ahlin's employment deal.
7 Oct 2015business combination▲ GoodMajor
The Clavo Rico merger closed: 240,225,901 shares issued to Clavo Rico's former shareholders and roughly $8.88 million of Clavo Rico's promissory notes assumed, making the Honduran gold operation Inception Mining's core business. Officers and directors also received compensation shares for closing the deal, after some earlier officer/director shares were retired per the merger terms.
6 Aug 2015business combination● NeutralMajor
The February 2015 Clavo Rico stock-exchange deal was terminated and replaced with a larger merger structure -- Clavo Rico shareholders would now receive 240,225,901 shares (versus the original 66.4 million) via a new merger subsidiary, CR Acquisition Corporation -- a substantially bigger dilution for the same underlying Honduran gold asset.
3 Mar 2015auditor change● Neutral
A second auditor change: Fiondella Milone & LaSaracina (whose reports also carried going-concern language) was released and Sadler, Gibb & Associates of Salt Lake City engaged.
6 Feb 2015material agreement▲ GoodMajor
Inception Mining agreed to acquire 100% of Clavo Rico Ltd, which processes a historical tailings body and several open-pit gold ore bodies in Honduras (workings dating back to Mayan and Spanish-era mining), in exchange for 66,391,160 shares -- contingent on Inception first raising $11 million. This would become the company's flagship asset for the next decade.
26 Jan 2015material agreement▼ Bad
Inception Mining and Inception Resources renegotiated the 2013 U.P./Burlington Gold Mine purchase down -- the equity portion cut from 16,000,000 to 10,480,000 shares (5,520,000 shares returned and cancelled) and the assumed promissory notes reduced by $161,750 -- a sign the original deal had been overvalued or the mine underperforming.
16 Jan 2015capital raising announcement▼ Bad
A third toxic note, $54,000 face value from KBM Worldwide, Inc., convertible at a 49% discount to recent trading prices and carrying steep prepayment penalties (115%-140% of principal depending on timing).
7 Oct 2014capital raising announcement▼ BadMajor
A second toxic convertible note, $115,000 face value from Typenex Co-Investment, LLC, with the same 60%-of-lowest-price discount conversion mechanic and a ratcheting warrant -- the pattern continuing.
12 Mar 2014capital raising announcement▼ BadMajor
Inception Mining took on its first toxic convertible note -- $220,000 face value ($55,000 initial tranche) from Iconic Holdings, LLC, convertible at a steep discount (the lower of $0.45 or 60% of recent lowest trading prices) -- the start of a recurring pattern of death-spiral financing.
6 Sept 2013material agreement▲ GoodMajor
Inception Mining agreed to acquire mineral rights (gold, silver and other minerals) on 16,183 acres in Humboldt and Elko Counties, Nevada from Crawford Cattle Company LLC for $14.8 million, payable in 13,000,000 shares at $1.12 each, contingent on Crawford completing its own acquisition of the land and a three-month due diligence period -- a speculative, largely paper-financed deal.
6 Sept 2013capital raising announcement● Neutral
Amends the August 8-K to state the whole summer 2013 raise rather than one tranche of it: $138,025 from accredited investors for 306,722 shares plus three-year warrants over another 153,361 shares at $0.90. Months after buying the U.P. and Burlington mine, the company was funding itself in $37,000 increments.
What it means for a shareholder
153,361 new shares at US$0.900 to raise about US$138,025. That's 0.753% dilution: every existing holder's slice gets 0.753% smaller. If you held US$1,000 of shares (1,111 at the issue price), your slice goes from 0.0055% to 0.00545% of the company. To keep it you'd need 8 more shares - about US$7 at the issue price.
Create a free account to see this worked out for your own holding.
5 Aug 2013capital raising announcement▲ Good
Inception Mining raised $101,025 selling 224,500 shares plus warrants to accredited investors -- routine small-scale financing.
What it means for a shareholder
224,500 new shares at about US$0.450 to raise about US$101,025. That's 1.1% dilution: every existing holder's slice gets 1.1% smaller. If you held US$1,000 of shares (2,222 at the issue price), your slice goes from 0.011% to 0.0109% of the company. To keep it you'd need 25 more shares - about US$11 at the issue price.
Create a free account to see this worked out for your own holding.
7 June 2013auditor change● Neutral
Now Inception Mining Inc., the company dismissed Liggett, Vogt & Webb as auditor (whose prior reports carried going-concern language) and engaged Fiondella Milone & LaSarcina.
1 Mar 2013business combination▲ GoodMajor
Gold American (now relocated to Murray, Utah) acquired the U.P. and Burlington Gold Mine from Inception Resources, LLC for 16,000,000 shares, assumption of $950,000 in promissory notes, and a 3% royalty -- ending its shell-company status, installing new management (CEO Michael Ahlin among others), and setting up the eventual rename to Inception Mining Inc.
27 Feb 2012material agreement termination▼ BadMajor
Gold American terminated the Guadalupe option in Zacatecas, Mexico without exercising it -- the last of the three original exploration properties abandoned, leaving the company with no active mineral properties and setting up the 2013 shell reverse-merger that followed.
22 Feb 2011capital raising announcement▼ BadMajor
A fourth ZUG draw -- 800,000 units at $0.25, just $200,000 gross -- at less than a quarter of the $1.10 price from ten months earlier, reflecting a badly deteriorated stock price.
What it means for a shareholder
800,000 new shares at US$0.250 to raise about US$200,000. That's 0.918% dilution: every existing holder's slice gets 0.918% smaller. If you held US$1,000 of shares (4,000 at the issue price), your slice goes from 0.00463% to 0.00459% of the company. To keep it you'd need 37 more shares - about US$9 at the issue price.
Create a free account to see this worked out for your own holding.
29 Dec 2010material agreement termination▼ BadMajor
Gold American terminated the La Escondida option in Sonora, Mexico without exercising it -- the first of its three 2010 exploration properties to be abandoned.
1 Oct 2010capital raising announcement▼ Bad
A third ZUG draw -- 533,333 units at $0.75, $400,000 gross -- continuing the declining-price trend.
What it means for a shareholder
533,333 new shares at US$0.750 to raise about US$400,000. That's 0.614% dilution: every existing holder's slice gets 0.614% smaller. If you held US$1,000 of shares (1,333 at the issue price), your slice goes from 0.00154% to 0.00153% of the company. To keep it you'd need 8 more shares - about US$6 at the issue price.
Create a free account to see this worked out for your own holding.
2 Sept 2010capital raising announcement▼ Bad
A second ZUG equity-line draw -- 375,000 units at $0.80, $300,000 gross -- at a lower unit price than July's draw, an early sign of softening in the stock.
What it means for a shareholder
375,000 new shares at US$0.800 to raise about US$300,000. That's 0.432% dilution: every existing holder's slice gets 0.432% smaller. If you held US$1,000 of shares (1,250 at the issue price), your slice goes from 0.00145% to 0.00144% of the company. To keep it you'd need 5 more shares - about US$4 at the issue price.
Create a free account to see this worked out for your own holding.
10 Aug 2010material agreement▲ GoodMajor
Gold American optioned a 100% interest in gold mining concessions (La Escondida, ~178 hectares) in Sonora, Mexico for $765,000 in staged payments through December 2012, with a 1% royalty buyable out for $500,000 -- a third simultaneous exploration property alongside Guadalupe and Keeno Strike.