Past year: ▲ 0%(0.01c – 0.01c USD)
Each one in plain English, with the numbers worked through for a shareholder.
3 May 2013capital raising announcement● NeutralMajor
On April 29, 2013 the company agreed to sell up to $500,000 of 9% convertible notes to accredited investors; $100,000 closed on May 1, 2013. Each note runs up to two years and can be converted into shares from 24 months after issue at 75% of market price. At the $0.245 May 1 price, the filing estimates up to about 2,721,089 shares could be issued on the full $500,000, so existing shareholders could be diluted.
23 June 2010material agreement termination▼ BadMajor
MPM Mining terminated the joint venture with Forbes Financial Group effective June 21, 2010, because Forbes did not meet its financial obligations under the agreement. This ends the deal announced in May 2010, and the filing does not say whether the $5,000,000 of financing was ever provided.
3 May 2010material agreement▲ GoodMajor
On May 3, 2010, subsidiary MPM Mining Inc entered a joint venture with Forbes Financial Group to develop its mining properties (15 patented lode claims, about 300 acres, in Powell County, Montana). MPM Mining supplies the mining data, claims and equipment, and Forbes is to provide at least $5,000,000 of initial financing.
18 Dec 2006capital raising announcement● NeutralMajor
On December 15, 2006, Chairman and CEO Michael Luciano converted $770,000 of company debt owed to him and his JFLI Trust into 3,080,000 new common shares (2,100,000 for $525,000 owed to him personally and 980,000 for $245,000 owed to the Trust). This cuts the company's debt by $770,000 but dilutes other shareholders. Luciano's stake rose from 71.5% to 79.0%, and the filing states this is a change of control.
19 Mar 2004bankruptcy or receivership▼ BadMajor
The company announced that its wholly owned subsidiary Huntington Environmental Systems, Inc. filed a Chapter 7 bankruptcy petition (a liquidation filing). The filing lists many other item headings with no detail, and gives no figures or effect on the parent company. The signature block is dated March 19, 2003, which looks like a typo for 2004 (inference).
30 Nov 2000auditor change▼ BadMajor
BDO Seidman, the company's auditor, resigned on November 17, 2000. The filing says its report on the past two years' financials was unqualified and there were no disagreements with the company. It also says BDO did not review the September 30, 2000 quarterly report. This follows the string of late filing notices through 2000; the filing does not give a reason for the resignation or name a replacement.
12 Apr 1999listing compliance notice▼ Bad
MPM TECHNOLOGIES INC withdrew a registration statement, abandoning the offering it covered.
