Past year: ▲ 0%(10.3c – 10.3c USD)
Each one in plain English, with the numbers worked through for a shareholder.
28 Jan 2022asset acquisition disposition● Neutral
This amendment only replaces Exhibit 10.2, because the original filing attached the May 25, 2021 Spin-Off Agreement twice instead of the October 22, 2021 Amended Spin-Off Agreement. The filing says no other changes were made; the spin-off of Edison Power Company is unchanged.
20 Jan 2022asset acquisition disposition● NeutralMajor
After FINRA approval, the company completed the spin-off of its subsidiary Edison Power Company (the solar business acquired in the 2019 agreement) on January 20, 2022. Shareholders of record on October 22, 2021 get one-half of one unregistered, restricted EPC share per company share held; EPC is now an independent private company, its shares are not listed, and the spin-off is not tax-free under Section 355. This reverses the earlier acquisition: the solar business is no longer inside the company.
19 Oct 2021auditor change▼ Bad
Auditor Dale Matheson Carr-Hilton Labonte LLP resigned on October 15, 2021, and the company appointed Fruci & Associates II, PLLC the same day. The prior audit report for the year ended August 31, 2020 included a going-concern doubt, and the company disclosed its internal controls were not effective; no disagreements were reported.
15 Sept 2020material agreement● NeutralMajor
Filed in September 2020 for an event dated April 1, 2019, the company (now Indigenous Roots Corp.) signed an agreement to buy all of Edison Power Company in exchange for 6,849,239 of its common shares. Edison Power owns Edison Delaware 2, LLC, which owns and operates a solar power system in Delaware. This moves the company from its former gold-exploration business into solar power, and the filing came about 17 months after the agreement date.
10 Jan 2018capital raising announcement● Neutral
The company issued 200,000 shares to an officer and director for services on January 2, 2018, and filed on January 8, 2018 to change its name to Indigenous Roots Corp., pending FINRA review. The name change will take effect on the market only once FINRA completes its review.
10 Jan 2018capital raising announcement● Neutral
On December 5, 2017 the company issued 300,000 common shares to an unrelated party for $30,000 total, which is $0.10 per share, matching the price of the November 2017 placement announcement (inference that this is part of it; the filing does not say so).
6 Nov 2017capital raising announcement● Neutral
After a gap of more than six years in this record, the company (still American Paramount Gold Corp., now based in Las Vegas under president Ronald Loudoun) announced a private placement of up to 1,000,000 units at $0.10 each for up to $100,000. Each unit has one share and one warrant to buy a share at $0.35 for 12 months.
What it means for a shareholder
1.0m new shares at $0.100 to raise about $100,000. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held $1,000 of shares (10,000 at the issue price), your slice goes from 0.129% to 0.114% of the company. To keep it you'd need 1,292 more shares - about $129 at the issue price.
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28 Apr 2011capital raising announcement● Neutral
On April 26, 2011 the company issued 500,000 restricted shares to Investors Resource Group to settle a debt, at a deemed price of $0.135 per share. This is a small dilution of existing shareholders; the filing does not state the debt amount.
7 Mar 2011capital raising announcement● Neutral
The company cancelled all 5,400,000 options granted in October 2010 at $0.68 and granted 5,150,000 new options at $0.12 per share, the March 1, 2011 closing price, mostly expiring March 2, 2016. Recipients include J. Trevor Eyton, Hugh Aird (President/CEO), Wayne Parsons and CFO Ann Dumyn. The company says this was to give incentive pay reflecting the current market value of its stock; the drop from $0.68 to $0.12 shows the share price fell sharply (inference from the two exercise prices).
25 Oct 2010capital raising announcement● Neutral
The company granted 5,400,000 stock options to directors, officers, consultants and employees under the 2010 plan at $0.68 per share (400,000 expiring October 5, 2012 and 5,000,000 expiring October 6, 2015). This uses most of the 6,500,000-share plan approved in July. The filing is signed by Hugh Aird as president, so leadership had changed from Wayne Parsons, and the office is now in Toronto.
25 Aug 2010farm in farm out agreement● Neutral
Directors approved a 2010 Stock Option Plan allowing up to 6,500,000 shares to be issued to directors, officers, employees and consultants on option exercise. Despite the event label, this is not a farm-in/farm-out deal; it is an incentive plan, which could dilute existing shareholders if options are exercised.
15 June 2010business combination● NeutralMajor
The company filed shell-company-style disclosure confirming the Cap Gold Project closing, with $125,000 paid to Hackworth and Tomany. It also set out its history: incorporated July 2006 as Zebra Resources, abandoned its first claim (Astro 2006), Monaco Capital bought 20,000,000 shares on Feb 26, 2010, a 2-for-1 forward split took shares from 32,000,000 to 64,000,000 on March 17, 2010, and the name changed to American Paramount Gold Corp. The board is now Wayne Parsons, Peter Jenks and John Goodwin. The filing describes it as an exploration-stage company with no known reserve; the text provided is truncated.
27 Apr 2010asset acquisition disposition● NeutralMajor
The company said it closed the Cap Gold Project transaction (189 claims in Nye County, Nevada), continuing the April 16 agreement. It also signed a consulting agreement with Wayne Parsons as president/CEO/CFO (CDN$1,500 monthly, 1,000,000 options at US$1.00 expiring April 14, 2015, and a CDN$15,000 bonus if US$500,000 of private placement funds is received). Separately, Monaco Capital Inc., the controlling shareholder, agreed to lend up to $500,000 at 10% interest, convertible at $1.05 per share and due one year from advance; $200,000 had been advanced.
19 Apr 2010material agreement● NeutralMajor
The company (then named American Paramount Gold Corp., formerly Zebra Resources) agreed with Royce L. Hackworth and Belva L. Tomany to an option on a long-term lease of 189 unpatented mining claims in Nye County, Nevada (the Cap Gold Project). It must pay $25,000 on closing and $100,000 once due diligence is satisfied, plus yearly advance royalty payments ($125,000 in years 2-5, rising to $300,000 in years 21-30), at least $1,250,000 of exploration over 5 years, and a 1%-3% production royalty.
