14 June 2016late filing notice▼ Bad
GOLD LAKES CORP. notified the SEC that its quarterly report would be filed late.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
13 June 2016securities registration● Neutral
GOLD LAKES CORP. amended a filing by which it registered a securities offering with the SEC.
25 May 2016material agreement▼ Bad
On May 16, 2016 Gold Lakes borrowed $49,163.86 from Himmil Investments under a senior demand note, to be repaid from the $300,000 convertible note under the March 2016 purchase agreement with Himmil. This suggests (inference) the second closing had not yet funded and the company needed short-term cash.
11 Apr 2016securities registration● Neutral
GOLD LAKES CORP. registered a securities offering with the SEC.
5 Apr 2016substantial holder notice● Neutral
Flex Mining Ltd reported a GOLD LAKES CORP. shareholding of 22,100,000 shares (66.72% of votes) in a periodic institutional filing.
5 Apr 2016director interest notice● Neutral
GOLD LAKES CORP. insider Flex Mining LTD. gifted 1,400,000 shares.
30 Mar 2016director interest notice● Neutral
Vallos Christopher P became a GOLD LAKES CORP. CEO, CFO, Pres., Sec & Trea. and company insider (initial ownership filing).
22 Mar 2016material agreement▲ GoodMajor
On March 21, 2016 Gold Lakes amended its Flex Mining agreement so it can acquire 100% of Flex's assets outright instead of holding an earn-in right. It must make certain expenditures over three years, and if it fails Flex Mining can repurchase the assets at a mutually agreed price. The amendment also says no royalties are due and updates the license numbers.
22 Mar 2016quarterly activities report▼ Bad
GOLD LAKES CORP. reported a quarterly net loss of $655 thousand for the period ended 2016-04-30.
15 Mar 2016securities registration● Neutral
GOLD LAKES CORP. filed notice of an exempt private placement.
15 Mar 2016capital raising announcement▼ BadMajor
On March 15, 2016 Gold Lakes closed a financing with Himmil Investments Ltd. (British Virgin Islands): an initial $535,000 principal of convertible notes with warrants, and a possible further $300,000 principal at a second closing. The notes convert into shares at a discount to market, which can dilute existing shareholders. The attached agreement says the notes are unsecured and the initial note carries an original issue discount of about 46.7%.
15 Mar 2016late filing notice▼ Bad
GOLD LAKES CORP. notified the SEC that its quarterly report would be filed late.
21 Dec 2015quarterly activities report▼ Bad
GOLD LAKES CORP. reported a quarterly net loss of $314 thousand for the period ended 2016-01-31.
15 Dec 2015late filing notice▼ Bad
GOLD LAKES CORP. notified the SEC that its quarterly report would be filed late.
4 Nov 2015quarterly activities report▼ Bad
GOLD LAKES CORP. reported a quarterly net loss of $27.9 million for the period ended 2015-10-31.
4 Nov 2015quarterly activities report▼ Bad
GOLD LAKES CORP. reported a quarterly net loss of $27.9 million for the period ended 2015-10-31.
29 Oct 2015late filing notice▼ Bad
GOLD LAKES CORP. notified the SEC that its annual report would be filed late.
28 Oct 2015director interest notice● Neutral
Flex Mining LTD. became a GOLD LAKES CORP. 10%+ owner and company insider (initial ownership filing).
28 Oct 2015substantial holder notice● Neutral
Flex Mining Ltd disclosed a new substantial GOLD LAKES CORP. shareholding (99.05% of votes).
21 Oct 2015capital raising announcement● Neutral
This amended filing restates the August 2015 report to add missing exhibits, including the articles amendment for the name change. It now states the 23,500,000 restricted shares were issued to Flex (the original said they would be), under a Regulation S exemption. The Flex earn-in terms and the reverse split and name change are unchanged.
28 Aug 2015capital raising announcement● NeutralMajor
On August 28, 2015 the company, now named Gold Lakes Corp., signed an earn-in agreement with Flex Mining Ltd. giving it the right to acquire 100% of Flex by spending $1 million over three years, and will issue Flex 23,500,000 restricted shares at a deemed $0.05 each within 90 days. This replaces the 1,800,000-share terms in the April letter of intent. The name change and 200-for-1 reverse split became effective August 24, 2015, with the ticker moving to GLLK after a temporary SGAED symbol. The filing says Golden Lakes Corp. in one place, though the registrant is Gold Lakes Corp.
10 Apr 2015material agreement termination● NeutralMajor
Siga said the November 2014 letter of intent to buy Gold Lakes Corp. has expired and it will not proceed. Separately, on April 9, 2015 it signed a letter of intent to acquire 100% of Flex Mining Ltd. (six Big Monty claims in Ontario's Abitibi Greenstone Belt) for 1,800,000 restricted shares, $10,000 within six months and $1,000,000 of spending over three years.
2 Apr 2015auditor change● Neutral
Auditor Messineo & Co. told Siga on April 2, 2015 it would not stand for appointment, and the board accepted this. The board hired ZBS Group LLC as its successor on April 1, 2015. Messineo performed no audits or reviews, and no disagreements were reported.
25 Nov 2014material agreement● NeutralMajor
On November 25, 2014 Siga signed a letter of intent to acquire all of a separate company called Gold Lakes Corp. for 25 million new shares. The plan also included renaming Siga to Gold Lakes Corp., a ticker change, a 200:1 reverse split and a commitment of $1 million in financing over three years. A definitive agreement was targeted by December 31, 2014.
30 May 2014director interest notice● Neutral
Nmm Consulting LTD became a GOLD LAKES CORP. 10%+ owner and company insider (initial ownership filing).
9 Jan 2014quarterly activities report▼ Bad
GOLD LAKES CORP. reported a quarterly net loss of $6 thousand for the period ended 2014-01-31.
3 Oct 2013quarterly activities report▼ Bad
GOLD LAKES CORP. reported a quarterly net loss of $6 thousand for the period ended 2013-10-31.
3 Oct 2013quarterly activities report▼ Bad
GOLD LAKES CORP. reported a quarterly net loss of $6 thousand for the period ended 2013-10-31.
2 Oct 2013quarterly activities report▼ Bad
GOLD LAKES CORP. reported a quarterly net loss of $6 thousand for the period ended 2013-10-31.
9 Jan 2013auditor change● Neutral
Siga dismissed its auditor Madsen & Associates CPAs on December 17, 2012 and hired Sadler, Gibb & Associates. Madsen's reports on the years ended July 31, 2011 and 2010 had no adverse opinion but noted substantial doubt about the company's ability to continue as a going concern. No disagreements were reported.