Past year: ▲ 0%(0.00c – 0.01c USD)
Each one in plain English, with the numbers worked through for a shareholder.
14 Oct 2014capital raising announcement● NeutralMajor
The board announced it no longer considers Panex a shell company, citing spending on sourcing assets and exploration, an interest in certain assets and a probable further acquisition. It says it must still file 'Form 10' information and wait one year before holders of restricted shares can use Rule 144 to resell, and that illiquidity may make equity raising harder until then. Mark Gasson now signs as CEO and President.
5 Dec 2013capital raising announcement▼ BadMajor
Panex settled debts by issuing restricted shares at $0.001 each; the board approved up to US$328,975 (up to 328,975,000 shares) and 248,000,000 shares had been issued to four creditors so far. This shifted control: Patane Ltd. (110 million shares) now holds 30.0%, Coresco AG (100 million shares) holds 27.3%, and Corporate Consultants Pty Ltd. (25 million) holds 6.9%. Coresco is owned equally by Klaus Eckhof, Lars Pearl, Mark Gasson and Ross Doyle, and Eckhof and Doyle are Panex officers. Michel Muhiya's 15 million shares from the earlier settlement fell from 12.68% to 4.1%, so existing holders were heavily diluted.
10 July 2013capital raising announcement● Neutral
Now named Panex Resources and based in Zug, Switzerland, the company settled US$75,000 of debt owed to Michel Muhiya by issuing him 15 million restricted shares at a deemed $0.005 each (agreed April 11, 2013). It also cancelled 8 million stock options held by Klaus Eckhof and Ross Doyle, leaving no options outstanding. The filing gives no explanation for the cancellation.
