16 Sept 2021listing compliance notice▼ BadMajor
FIRMA HOLDINGS 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 Oct 2016material agreement● NeutralMajor
On October 21, 2016 the company signed a binding agreement with MX Gold Corp. under which MX Gold would acquire a 50% interest in the Magistral Del Oro project, held by the company's subsidiary Gracepoint Mining. MX Gold would pay $250,000 initially and a further $2,225,000 over 90 days for obligations, plant upgrades and startup capital, with the plant estimated to be operational in 4 to 6 months. This would reduce the company's stake in the project it bought in February 2016 to half; the filing does not say whether the deal has closed. (Inference: the filing's wording that the Company is to 'acquire' the interest appears to be a drafting error, since Gracepoint is the company's own subsidiary and the payments go to Gracepoint.)
1 Mar 2016asset acquisition disposition● Neutral
This amendment repeats the Magistral Del Oro acquisition report and corrects the purchase date from February 27 to February 17, 2016. The terms are unchanged: nominal price, about $1,440,000 of payables and cleanup obligations assumed, and a 500-tonne-per-day plant plus rights to about 1.2 million tonnes of tailings.
26 Feb 2016asset acquisition disposition● NeutralMajor
The company, through its subsidiary American Metal Mining, bought the Magistral Del Oro gold tailings project in Santa Maria Del Oro, Durango, Mexico, paying a nominal price and taking on about $1,440,000 of accounts payable and environmental cleanup obligations. It includes a 500-tonne-per-day processing plant built in 2013 for about $4.5 million and rights to process about 1.2 million tonnes of tailings (about 79,000 ounces of gold), with a per-tonne royalty to the local government. The filing gives the purchase date as February 27, 2016 although the event date is February 17, 2016 (the next filing corrects this), and the filing does not say whether the plant is operating.
16 Nov 2015late filing notice▼ Bad
FIRMA HOLDINGS CORP. notified the SEC that its quarterly report would be filed late.
19 Aug 2015quarterly activities report▼ Bad
FIRMA HOLDINGS CORP. reported a quarterly net loss of $990 thousand for the period ended 2015-06-30.
17 Aug 2015late filing notice▼ Bad
FIRMA HOLDINGS CORP. notified the SEC that its quarterly report would be filed late.
20 May 2015quarterly activities report● Neutral
FIRMA HOLDINGS CORP. reported a quarterly net income of $5.4 million for the period ended 2015-03-31.
14 May 2015late filing notice▼ Bad
FIRMA HOLDINGS CORP. notified the SEC that its quarterly report would be filed late.
3 Apr 2015material agreement● NeutralMajor
On March 30, 2015 the company signed an agreement to buy Sicilian Sun Limited, LLC, which owns an Italian subsidiary and two food production facilities in Alcamo and Catania, Sicily (baked goods, frozen desserts, gelato). At closing it will issue 16,000,000 shares to SSL's members, with up to 10,000,000 shares returnable if revenue and EBITDA targets are missed, plus 25% of EBITDA paid to former members once EBITDA reaches $1,000,000, until $2,000,000 is paid. CEO Francis Biscan owns 46% of SSL, so he is on both sides of the deal. This is a further move away from mining, following the SmartPac purchase in 2014.
31 Mar 2015late filing notice▼ Bad
FIRMA HOLDINGS CORP. notified the SEC that its annual report would be filed late.
14 Nov 2014quarterly activities report▼ Bad
FIRMA HOLDINGS CORP. reported a quarterly net loss of $900 thousand for the period ended 2014-09-30.
20 Oct 2014auditor change● Neutral
Firma Holdings dismissed auditor StarkSchenkein, LLP on October 14, 2014 and hired The Pun Group LLP on October 16, 2014. The filing reports no disagreements; earlier audit reports carried a going-concern explanatory paragraph. This is the company's third auditor change since early 2012.
14 Aug 2014quarterly activities report▼ Bad
FIRMA HOLDINGS CORP. reported a quarterly net loss of $993 thousand for the period ended 2014-06-30.
18 June 2014asset acquisition disposition▼ BadMajor
The company, now filing as Firma Holdings Corp. (formerly Tara Minerals), completed the SmartPac technology purchase from FreshTec on June 17, 2014. A FreshTec minority shareholder sued FreshTec, its management and the company on June 12, 2014 in Delaware Chancery Court, alleging breach of fiduciary duty; the company says, after speaking with counsel, the suit is without merit.
4 June 2014material agreement● NeutralMajor
On May 28, 2014 the company agreed to acquire FreshTec's SmartPac produce-preservation packaging technology, a business unrelated to its mining projects. It pays $500,000 at closing for US/Mexico/Canada rights, plus per-unit and royalty payments until $14,500,000 is paid, and must pay $1,000,000 for EU rights within six months and $1,000,000 for other countries within eighteen months, or hand those rights back.
19 May 2014quarterly activities report▼ Bad
FIRMA HOLDINGS CORP. reported a quarterly net loss of $758 thousand for the period ended 2014-03-31.
14 May 2014late filing notice▼ Bad
FIRMA HOLDINGS CORP. notified the SEC that its quarterly report would be filed late.
1 Apr 2014late filing notice▼ Bad
FIRMA HOLDINGS CORP. notified the SEC that its annual report would be filed late.
16 Jan 2014material agreement● NeutralMajor
On January 9, 2014 the company agreed with Panormus Trust and Mediterranea Trust (MTI) that MTI may buy up to $2,025,000 of restricted stock at $0.30 per share and make a targeted $4,725,000 loan to develop Don Roman. The loan would be repaid from 49% of Don Roman net income, and MTI keeps that 49% after repayment; a joint management committee oversees spending. These are rights to invest, not completed funding, and the 49% share is a new claim on the 100%-owned project.
19 Nov 2013quarterly activities report▼ Bad
FIRMA HOLDINGS CORP. reported a quarterly net loss of $2.6 million for the period ended 2013-09-30.
15 Nov 2013late filing notice▼ Bad
FIRMA HOLDINGS CORP. notified the SEC that its quarterly report would be filed late.
14 Aug 2013quarterly activities report▼ Bad
FIRMA HOLDINGS CORP. reported a quarterly net loss of $2.7 million for the period ended 2013-06-30.
14 May 2013quarterly activities report▼ Bad
FIRMA HOLDINGS CORP. reported a quarterly net loss of $2.1 million for the period ended 2013-03-31.
14 May 2013material agreement termination▼ BadMajor
Yamana gave notice on May 7, 2013 that it is terminating the April 2012 purchase of American Copper Mining (Picacho), effective May 9, 2013, treated as if the sale never happened. The Picacho project returns to Adit, and the expected Yamana payments will not be received.
2 Apr 2013late filing notice▼ Bad
FIRMA HOLDINGS CORP. notified the SEC that its annual report would be filed late.
19 Mar 2013material agreement▲ GoodMajor
On March 15, 2013 the company settled its litigation with Carnegie over the August 2011 option. Carnegie acknowledges it has no rights under the option and the company's 100% ownership of Don Roman; in exchange the company assigned the Champinon mining rights purchase contract to Carnegie's Mexican subsidiary and will issue 500,000 restricted shares. This ends the Carnegie earn-in deal.
8 Feb 2013auditor change● Neutral
The company dismissed auditor Wilson Morgan LLP on February 1, 2013 and hired StarkSchenkein, LLP the same day. The filing reports no disagreements; the 2011 audit report carried a going-concern explanatory paragraph.
13 Nov 2012quarterly activities report▼ Bad
FIRMA HOLDINGS CORP. reported a quarterly net loss of $1.1 million for the period ended 2012-09-30.
14 Aug 2012quarterly activities report● Neutral
FIRMA HOLDINGS CORP. reported a quarterly net income of $999 thousand for the period ended 2012-06-30.