20 May 2014listing compliance notice▼ BadMajor
GreenChek Technology Inc. deregistered its securities, ending its obligation to file reports with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Oct 2011capital raising announcement▼ Bad
On September 27, 2011 GreenChek created Series B Preferred Stock and issued 10,000 shares to Lincoln Parke, sole officer and a director, for services. Like the 2010 Series A shares, each carries 4,000 votes and is redeemable for $10.00. The filing states Parke has voting rights over 53.51% of the company, the same figure given after Series A, so it does not say whether his voting share changed.
18 Jan 2011late filing notice▼ Bad
GreenChek Technology Inc. notified the SEC that its quarterly report would be filed late.
16 Dec 2010capital raising announcement▼ BadMajor
On December 8, 2010 GreenChek sold Asher a second convertible note, $39,000 (net proceeds $36,500), due September 10, 2011 at 8%, convertible at a 45% discount to market, a steeper discount than the August note's 38%, with no prepayment right. The filing also reports that Asher took over $137,500 of principal on the earlier unsecured convertible note held by Gold Spread Trading, Vienna Management and Quartermaine, Asquith & Associates (originally $550,000, reduced to $250,000), and converted it into 15,400,000 shares at prices between $0.00077 and $0.00711. The company received no cash from those conversions beyond the debt reduction.
15 Oct 2010late filing notice▼ Bad
GreenChek Technology Inc. notified the SEC that its quarterly report would be filed late.
30 Sept 2010capital raising announcement▼ BadMajor
On September 29, 2010 GreenChek created Series A Preferred Stock and issued 10,000 shares to Lincoln Parke, its sole officer and a director, for services. Each share carries 4,000 votes, giving Parke voting rights over 53.51% of the company, and the company can redeem the shares for $10.00 each. Control of shareholder votes now sits with one person, though common holders keep their economic holdings.
27 Aug 2010securities registration● Neutral
GreenChek Technology Inc. filed notice of an exempt private placement.
26 Aug 2010capital raising announcement▼ Bad
GreenChek sold Asher Enterprises a $50,000 convertible note (net proceeds $47,000) due May 9, 2011 at 8% interest. Asher can convert into shares at a 38% discount to recent market prices, so conversion would issue more shares at below-market prices and dilute existing holders. The company also gave Asher a right of first refusal on equity financings of $250,000 or less for one year, and default interest is 22%.
16 July 2010late filing notice▼ Bad
GreenChek Technology Inc. notified the SEC that its quarterly report would be filed late.
1 June 2010late filing notice▼ Bad
GreenChek Technology Inc. notified the SEC that its annual report would be filed late.
19 May 2010debt financing● Neutral
On May 14, 2010 GreenChek settled its October 2008 deal with former CEO and majority holder Pardeep Sarai: he returned 35,000,000 shares to the company in exchange for a $25,000 promissory note at 11% interest due May 13, 2011. Shares outstanding fell from 99,046,666 to 64,046,666. The $25,000 balance had been unpaid past its extended deadlines, and the original deal allowed the shares to go back to Sarai if it was not paid or if the China Bright licence transactions did not occur.
27 Apr 2010financial restatement▼ BadMajor
On April 12, 2010 management found that three share issuances were left out of its earlier unaudited financial statements: 3,000,000 shares to Gold Spread Trading (a $90,000 financing fee under a $100,000 loan agreement), 3,000,000 shares to Bodie (another $90,000, from the 2009 Bodie agreement), and 2,000,000 shares to Global Eye Professional Advisors (a $60,000 expense). The earlier statements can no longer be relied on, and restated results for the quarters ended August 31 and November 30, 2009 are planned. No warrant cost is booked for Bodie until it advances a $100,000 loan.
15 Jan 2010late filing notice▼ Bad
GreenChek Technology Inc. notified the SEC that its quarterly report would be filed late.
15 Oct 2009late filing notice▼ Bad
GreenChek Technology Inc. notified the SEC that its quarterly report would be filed late.
1 Oct 2009material agreement● NeutralMajor
On September 30, 2009 GreenChek entered a stock purchase agreement (dated August 25, 2009) and a registration rights agreement with Bodie Investment Group Inc. of Michigan, under which Bodie is to buy $6,000,000 of common stock at 90% of market price, with a $0.05 floor price. GreenChek must issue Bodie 3,000,000 restricted shares plus cashless warrants for 9,000,000 more. Bodie need not buy anything until the shares and warrants are registered with the SEC, so the funding is not yet assured.
15 July 2009late filing notice▼ Bad
GreenChek Technology Inc. notified the SEC that its quarterly report would be filed late.
29 May 2009late filing notice▼ Bad
GreenChek Technology Inc. notified the SEC that its annual report would be filed late.
15 Jan 2009late filing notice▼ Bad
GreenChek Technology Inc. notified the SEC that its quarterly report would be filed late.
16 Oct 2008late filing notice▼ Bad
GreenChek Technology Inc. notified the SEC that its quarterly report would be filed late.
25 July 2008director interest notice● Neutral
Parke Lincoln became a GreenChek Technology Inc. President and company insider (initial ownership filing).
16 July 2008material agreement● NeutralMajor
Filing under the earlier name Ridgestone Resources, Inc.: on July 14, 2008 it signed a licence with China Bright Technology Development Limited for hydrogen-based vehicle emission-reduction patents, covering the EU and US, for $3,500,000 in instalments (from $300,000 on August 13, 2008 to $1,200,000 by August 31, 2009). It must also issue China Bright common stock worth 60% of its total outstanding shares, which would heavily dilute existing holders. The board also voted to rename the company Greenchek Technology Inc., subject to shareholder approval.
11 June 2008director interest notice● Neutral
Sarai Pardeep became a GreenChek Technology Inc. President, CEO, CFO and company insider (initial ownership filing).
27 June 2007securities registration● Neutral
GreenChek Technology Inc. filed the final prospectus for a registered offering.
13 June 2007securities registration● Neutral
GreenChek Technology Inc. amended a filing by which it registered a small-business securities offering with the SEC.
1 June 2007securities registration● Neutral
GreenChek Technology Inc. registered a small-business securities offering with the SEC.