Past year: ▼ 67%(0.01c – 0.03c USD)
Each one in plain English, with the numbers worked through for a shareholder.
15 Nov 2010auditor change● Neutral
On November 10, 2010 the company engaged Stark Schenkein, LLP as its new auditor for quarterly reviews and the audit for the year ending July 31, 2011, completing the auditor replacement begun on November 1. The filing says no prior consultation took place with the new firm.
2 Nov 2010auditor change● Neutral
On November 1, 2010 the company dismissed Seale and Beers, CPAs, LLC as auditor, with board approval. Its reports for the years ended July 31, 2010 and 2009 had no adverse opinion but included a going-concern paragraph, and the filing states there were no disagreements or reportable events.
17 May 2010debt financing● NeutralMajor
In April-May 2010 the company borrowed $55,000 (Apr 19) and $50,000 (May 11) from an unrelated third party (exhibits name Radium Ventures Corp.), both unsecured demand loans at 6.5%. On May 15 it signed a loan agreement for up to $1,000,000 at 7.5%, repayable within 36 months, with 50,000 restricted shares issued to the lender per $100,000 borrowed (so dilutive). The money funds a move into oil and gas exploration: a 5% working interest in an Oklahoma 3-D seismic project (buy-in $46,250, about $400,000 further funding expected) and a committed 5% interest in a four-prospect Oklahoma drilling program (buy-in $39,163, about $225,000 further expected). The filing reports a change in shell company status.
7 Aug 2009auditor change● Neutral
The company (filing as Homeland Resources Ltd., Nevada, Albuquerque NM) dismissed its auditor Moore & Associates Chartered and hired Seale and Beers, CPAs on August 6, 2009. Moore's reports had no adverse opinion, but the audited statements in the Form 10-K for the year ended July 31 carried a going-concern qualification; the filing states there were no disagreements with Moore.
