Past year: ▲ 151%(78.0c – 2.07 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
22 May 2014auditor change● Neutral
On May 1, 2014 auditor Messineo & Co. declined to stand for reappointment, and the company engaged RLB Certified Public Accountant PLLC of Gulfport, Florida. The filing reports no disagreements or reportable events; DKM's audit report for the year to March 31, 2013 had a going-concern paragraph. This is the company's fourth auditor change since July 2012.
24 Oct 2013asset acquisition disposition▼ BadMajor
On August 22, 2013 the company handed back the Mohave County, Arizona claims (about 134 acres) bought in July 2011, saying it could not generate enough investor interest to fund their development; the $136,334.12 paid will not be recovered. It also reported that John Cost resigned as an advisor and consultant on August 2, 2013.
11 July 2013auditor change● Neutral
On June 14, 2013 the board dismissed auditor DKM and engaged Messineo & Co., CPAs, which the filing describes as a continuation of the earlier Messineo firm. The filing reports no disagreements, and the earlier Li & Company report had a going-concern paragraph; this is the third auditor change in about a year.
10 Jan 2013auditor change● Neutral
On January 10, 2013 auditor Peter Messineo declined to be reappointed because he merged his firm into Drake & Klein CPAs, and the company engaged that firm (DKM) as its new auditor. The filing reports no disagreements or reportable events.
8 Aug 2012auditor change● Neutral
On July 19, 2012 the company dismissed its auditor Li & Company and hired Peter Messineo, CPA. Li's reports for the years ended March 31, 2011 and 2012 carried a going-concern qualification, and the filing says there were no disagreements with the auditor.
19 July 2012asset acquisition disposition● NeutralMajor
The company cancelled its Alaska property purchase agreement with Precious Metals Exploration Corp. on June 26, 2012; the seller returns 1,000,000 shares and the company is released from obligations, though $158,890.35 of exploration spending will not be recovered. Management said it has determined that other Alaska prospects it owns are more promising. Separately, it bought back 250,000 shares at $0.40 each when the market price was about $1.00, and appointed Bruce Taylor Walsham, an engineer, as a director under a consulting deal paying $3,000 a month plus 50,000 shares every three months.
22 May 2012farm in farm out agreement● NeutralMajor
On April 20, 2012 the company signed a letter agreement with Endurance Gold and Endurance Resources for an option to acquire a 60% joint venture interest in 14 Alaska claims (about 2,218 acres) in the Livengood area. It must spend at least $600,000 on the claims before December 31, 2014 ($150,000 in 2012) and pay Endurance $85,000 in installments; a formal option agreement is expected by June 30, 2012.
4 Jan 2012asset acquisition disposition▼ BadMajor
On December 23, 2011 the company cancelled its July 2011 Mexico purchase agreement with Precious Metals Exploration Corp.; the seller returns 1,500,000 shares and the company is released from further obligations. The company said it will not recover the $208,000 it had spent, and cited its assessment of political instability in Mexico as a factor in ending the deal.
20 Oct 2011capital raising announcement● Neutral
This amendment corrects the earlier report's share figures: 787,500 units were sold to six non-US persons for $630,000 (not 890,625 for $712,500), and Harrison's 40,000,000-share surrender left 85,887,500 shares outstanding (from 125,887,500) rather than 85,754,375. The filing does not explain the differences; the stated total after the placement is unchanged at 86,675,000.
5 Oct 2011capital raising announcement▲ GoodMajor
The company reported a private placement to non-US persons of units (one share plus a three-year $1.25 warrant), with 890,625 units sold to six buyers for $712,500, to be used as working capital. It also reported that CEO Lynn Harrison surrendered 40,000,000 of her shares on August 10, 2011, cutting her holding from 62,100,000 to 22,100,000 shares and total shares outstanding from 125,754,375 to 85,754,375.
20 July 2011material agreement termination● NeutralMajor
Now named Liberty Gold Corp., the company signed three more purchase agreements with Precious Metals Exploration Corp. in July 2011: 75% of claims in Hostotipaquillo, Mexico (3,000,000 shares, $850,000 of required work over 15 months, a $10,000-a-month project manager chosen by the seller); 100% of claims near Kingman, Arizona ($600,000 plus 500,000 shares, 5% royalty); and 100% of claims in Mohave County, Arizona ($674,022 in installments). This widens the company's holdings beyond Alaska and adds payment and spending obligations to the same seller.
11 Apr 2011business combination● NeutralMajor
The shell company then called iBOS, Inc. changed hands on April 5, 2011: Lynn Harrison bought 8,280,000 shares (87% of the outstanding shares) from the three outgoing officers for $370,000, became sole director, President and CEO, and the California subsidiary was handed to the former officers. The company also agreed to buy 60% of mining claims in Alaska near the Pogo deposit from Precious Metals Exploration Corp. for 40,000 shares plus a 5% net smelter royalty, with at least $300,000 of work over three years; closing depends on a name change, a 50-for-1 stock split, an increase in authorised shares to 250,000,000 and retirement of at least 80% of existing shares.
