Nevada Gold Corp.

Nearly five years after its last periodic filing, the SEC formally revoked Nevada Gold Corp.'s stock registration under Section 12(j) for repeatedly failing to file required reports, effective March 26, 2019 - a default judgment issued alongside two unrelated shells, JuQun, Inc. and Nexus Data Technologies Corporation.

registration revoked

A combined 8-K disclosed three things at once: the Diamond Jim option already announced; that the August 2012 Development Resources LLC option on the Long Canyon claims had formally lapsed after Nevada Gold missed its $125,000 payment deadline, leaving the March 2013 National Energy Development LLC option as the live claim on that ground; and that on May 23, 2013 CEO Merrill Moses and VP Charles Hooper had each personally bought a large stock block (13,000,000 and 6,500,000 shares respectively) from outgoing founder Michael Hawitt for just $10 apiece, taking Moses to about 24% and Hooper to about 12% ownership. The company also declared itself no longer a 'shell company' given its new exploration activity.

asset acquisition disposition

Nevada Gold entered a third mineral-property deal, an option with Western States Silver, LLC to acquire a 75% interest in the historic, previously-producing Diamond Jim silver-lead-gold mine (35 claims) in Elko County, Nevada, requiring only a $5,000 initial payment but escalating work commitments up to $1.25 million by the fourth year.

material agreement

FY2013's 10-K showed total assets down to just $254 and a $72,007 net loss for the year (cumulative $257,373) - a near-empty shell now dependent entirely on its unproven Long Canyon option to justify its 'Nevada Gold' name.

annual report

Nevada Gold signed an option agreement with Development Resources LLC to earn a 51% interest in 2,560 acres (120 BLM mineral lease claims) in the Long Canyon Gold Trend of northeast Nevada, requiring $125,000 cash plus 3,000,000 shares to fully exercise, alongside a one-year option on an adjoining, similarly sized block - the company's first real gold property under its new name.

material agreement

New management renamed the company from Massey Exploration Corp. to Nevada Gold Corp. and carried out an 8.5-for-1 forward stock split, taking shares outstanding from 6,300,000 to 53,550,000 - approved by 51.5% shareholder consent and pending FINRA clearance.

bylaws amendment

Founding officer/director Michael Hawitt resigned all his roles (president, CEO, CFO, secretary, treasurer, director) with no stated disagreement, replaced by Merrill W. Moses - a veteran with real oil/gas company experience (founder of Intercontinental Oil & Research, board member of TSX Venture-listed Goldnev Resource) - as CEO/president/director, alongside new VP/director Charles C. Hooper.

director officer appointment

FY2012's 10-K revealed a much sharper deterioration: net loss jumped to $129,381 for the year (from $17,753) as accounts payable climbed $84,469, leaving just $365 in total assets by year-end - the company was effectively out of cash.

annual report

The SEC's review of the S-1 flagged the company's name as confusingly similar to Massey Energy Company and asked for a pointed new risk factor: since 1999 the company's consulting geologist had been an officer, director or geologist for over twenty companies, most of which never advanced their exploration plans and five of which abandoned exploration entirely.

securities registration