History
A small shell company that moved from a failed organ-technology deal to oil and gas, then Nigerian mining, and by 2022 was under new management pursuing a carbon-exchange merger.
2010-2012: A deal that faded and a change of control
In November 2010 the company signed a non-binding letter of intent to combine with Organ Transport Systems, a subsidiary of Healthcare of Today that owned patented organ-transport technology. Healthcare of Today would have held 60% of the shares and 51% of the votes, diluting existing holders. The record shows no completion, and later filings do not mention it.
Instead, on March 2, 2012, David K. Ryan sold 900,000 shares, about 55.2% of the company, to Cedric Atkinson, who became President and CEO. On May 21, 2012 the company bought Texas oil and gas leasing business PureSpectrum Oil and Gas, Inc. for 2,500,000 restricted shares and 70% of the seller's secured debts, about $650,000. The seller's CEO was also Atkinson, so it was a related-party deal. Atkinson also received a five-year contract at $20,000 a month plus 10,000,000 restricted shares vesting over its term. Shares on issue rose from 1,630,000 at the end of 2011 to 35,706,097 a year later, and to 1,588,288,119 by the end of 2013, though the beats do not explain these jumps.
2014-2018: Deregistration, Nigeria and a rescinded agreement
In May 2014 the company deregistered its securities, ending its duty to file reports with the US securities regulator. The record then goes quiet for almost three years, and the status of PureSpectrum is not stated.
In February 2017, now called Mining Global, Inc., it agreed to acquire Sammya Nigeria Limited, a Nigerian mining engineering and exploration business, paying in restricted shares priced at a 25% discount to an appraisal not yet done, so the dilution was unknown. Control changed too: Joel Natario sold all 2,000,000 Series A preferred shares to Mina Mar Group, and Sammy Adigun became CEO. Whether the Sammya deal closed is not confirmed.
In February 2018 management rescinded a March 2015 settlement agreement with Nathan Yoder and Natario, saying it found no evidence Yoder advanced the loans and calling the loan document fraudulent. That was management's view; Yoder's response is not given.
2019-2023: New management and a proposed merger
The record is quiet again until July 2022. A board resolution on July 11 installed Alex Sentic as CEO, Irina Veselinovic as interim chief operating officer and Zoran Cvetojevic as chairman. Cvetojevic bought Preferred B shares issued to Small Cap Compliance, LLC and made up to $250,000 in cash available. The board restored the name Mining Global, Inc. (it had been American Rolling Company, Inc.), ordered a review of all debts, and resolved to resume OTC Markets disclosure. The only debt on the books was $356,000 owed to Emry Capital. It also kept pursuing a merger with Cash Next.Com, a carbon exchange mining company, previously announced but not completed.
In September 2023 the company again deregistered its securities, ending its obligation to file reports with the SEC.
Written from the 8 story beats below (2010 to 19 Sept 2023), which come from the company's own announcements and filings.