17 June 2013registration revoked▼ BadMajor
The SEC revoked Millennium Energy Corp.'s securities registration effective June 17, 2013, for failure to file periodic reports - more than three years after its last filing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
25 Jan 2010financial restatement▼ BadMajor
The same resource-property valuation restatement was extended to cover the Q3 2009 (Sept 30, 2009) financial statements as well.
10 Dec 2009financial restatement▼ BadMajor
Millennium's board determined on December 8, 2009 that its FY2008 annual report and Q1/Q2 2009 financial statements (all originally audited by the now-deregistered Moore & Associates) could no longer be relied on, due to a restatement of the book value of its Slovak uranium property, and would need to be re-filed with restated figures.
27 Nov 2009quarterly activities report▼ BadMajor
Reported a net loss of just $61,849 for the first nine months of 2009 (versus $162,923 for the same period in 2008) as the company sat largely dormant amid its accounting overhaul; cumulative losses since inception reached $316,341. These figures were later folded into the restatement, and this would prove to be the company's last quarterly filing before it stopped reporting altogether.
18 Sept 2009auditor change● Neutral
The SEC closed its review of the amended auditor-change disclosure with no further comments.
10 Sept 2009auditor change▼ BadMajor
Millennium amended its auditor-change 8-K to disclose the PCAOB's revocation of Moore & Associates Chartered's registration, as directed, and confirmed its new PCAOB-registered auditor would re-audit the prior fiscal year.
3 Sept 2009auditor change▼ BadMajor
SEC staff informed the company that on August 27, 2009 the PCAOB had revoked Moore & Associates Chartered's registration entirely, for violations of PCAOB auditing standards, quality-control rules, securities-fraud rules and noncooperation with a PCAOB investigation - and directed Millennium to amend its August auditor-change 8-K to disclose this, and to have its new auditor re-audit the prior year's financials.
7 Aug 2009auditor change● Neutral
Millennium dismissed auditor Moore & Associates Chartered on August 6, 2009 and engaged Seale and Beers, CPA's, LLC; the company reported no disagreements with Moore.
15 Apr 2009annual report● NeutralMajor
FY2008 (its first full Form 10-K): cumulative net loss since inception reached $254,492 (still no revenue), while total assets jumped to $6,001,855 - almost entirely the $6,000,000 book value the company assigned its new Slovak uranium property rights (paid for in stock, not cash). This valuation would be restated downward a year later.
7 Nov 2008annual report● Neutral
The SEC closed its review of the FY2007 10-KSB with no further comments.
5 Nov 2008annual report● Neutral
An amended FY2007 annual report adding the omitted disclosure-controls conclusion the SEC had flagged; the reported financial figures were unchanged.
28 Oct 2008annual report▼ Bad
SEC staff opened a comment-letter review of the FY2007 10-KSB, flagging that the company had not disclosed its officers' conclusions on disclosure-control effectiveness - "it appears evident that such controls and procedures were not effective" - prompting the amended 10-KSB that followed.
29 Sept 2008asset acquisition disposition● NeutralMajor
Millennium Energy acquired a 25-year exclusive right (100% undivided interest, subject to a 1% royalty) to the Spišské Vlachy uranium-molybdenum-copper property in Eastern Slovakia (41.4 sq km) from Central European Metals S.R.O., paying entirely in stock - 20,000,000 restricted shares issued September 22, 2008, no cash. The deal also committed Millennium to spend at least €5,000,000 on the property by July 2013.
14 Apr 2008annual report▼ Bad
FY2007 (inception June 2006 through Dec 31, 2007): net loss of $83,996, no revenue. Now Millennium Energy Corp., the company described its new direction as uranium exploration, with CEO Jana Whitlock (who has no uranium-industry experience) planning to hire outside consultants and geologists.
31 Mar 2008bylaws amendment● NeutralMajor
Only four months later, effective March 26, 2008, the company renamed itself again - to "Millennium Energy Corp." - via the same internal-merger mechanism, after the planned CBp Carbon Green business could not proceed: its FY2007 annual report would later disclose that a third party, Ariana Intervest Ltd., would not permit the Company to use the CBp name or the associated technology. The company's new direction was uranium exploration.
29 Nov 2007bylaws amendment● NeutralMajor
Effective November 29, 2007, the company completed an internal merger with its own subsidiary to rename itself "CBp Carbon Green, Inc." and effected a 15-for-1 forward stock split, taking issued shares from 7,333,333 to 109,999,995 under new ticker CBPG.
21 Nov 2007director officer appointment● Neutral
The Whitlock stock purchases closed on November 18, 2007; Perry and Mirkovic resigned and Whitlock became President, CEO and a director.
8 Nov 2007director officer appointment● NeutralMajor
A change of control: Jana Whitlock agreed to buy out both founders - President/CEO Jacob Perry and Secretary/Treasurer Dejan Mirkovic, 2,500,000 shares each - for $25,000 apiece ($50,000 total), giving her 68.18% of the company; Perry and Mirkovic agreed to resign as officers and directors in her favor.
8 Nov 2007director officer appointment● NeutralMajor
The Rule 14f-1 information statement disclosing the same Jana Whitlock change-of-control and board turnover described in the same day's 8-K - a pure private stock purchase and management handover, not an acquisition of any outside business.
19 June 2007capital raising announcement● Neutral
The offering closed: Shopper's Wallet sold 2,333,333 of the 3,000,000 registered shares to 36 offshore investors at $0.03/share, raising $70,000.