17 May 2010late filing notice▼ Bad
TRILLIANT EXPLORATION CORP notified the SEC that its quarterly report would be filed late.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Apr 2010late filing notice▼ Bad
TRILLIANT EXPLORATION CORP notified the SEC that its annual report would be filed late.
10 Dec 2009material agreement termination● NeutralMajor
On December 5, 2009 the company terminated its September agreement to buy Bozel S.A. from Wellgate. A British Virgin Islands court order of September 24, 2009 in a case brought by Crastvell Trading Limited had temporarily barred Wellgate from transferring the Bozel shares. The filing says neither side owes penalties. The $80 million stock deal and $20 million loan will not go ahead.
16 Nov 2009late filing notice▼ Bad
TRILLIANT EXPLORATION CORP notified the SEC that its quarterly report would be filed late.
12 Nov 2009capital raising announcement▼ Bad
On November 6, 2009 the company took another $210,000 loan from Trafalgar, again through a debenture convertible into stock at the lower of the closing-date average price or a 15% discount to the lowest closing price in the five trading days after conversion. Repeats the October loan's terms; the filing does not state a use of funds.
13 Oct 2009capital raising announcement▲ GoodMajor
On October 12, 2009 the company borrowed $210,000 from Trafalgar through a debenture that Trafalgar can convert into company stock at the lower of the closing-date average price or a 15% discount to the lowest closing price in the five trading days after conversion. This can dilute existing shareholders (inference from the conversion terms). The filing says the proceeds paid past-due mortgage payments, so the Ecuadorian properties, including the Muluncay mine, are no longer in danger of foreclosure, resolving a risk flagged in an October 2, 2009 filing.
30 Sept 2009material agreement● NeutralMajor
On September 24, 2009 the company agreed to buy 100,000,000 Global Diamond Resources shares (32.12% of the company) from Samaza Limited for £15,000,000, to be paid by issuing Convertible Loan Notes. This would greatly increase its diamond holding beyond the 3.2% stake bought in July.
30 Sept 2009material agreement● Neutral
An amendment to the July 2009 filing corrects the Global Diamond Resources stake: the 10,000,000 shares bought for £1,500,000 are 3.2% of Global Diamond, not the 10% stated originally. The price and share count are unchanged.
15 Sept 2009material agreement● NeutralMajor
On September 8, 2009 the company agreed with Wellgate International Limited to buy up to 100% of Bozel S.A. (Luxembourg) for $80,000,000 of company stock, plus a $20,000,000 one-year loan to Bozel at no more than 14% interest. Completion requires buying at least 66% of Bozel and finishing due diligence. The price is very large relative to the company's earlier deals.
4 Sept 2009debt financing● Neutral
On August 27, 2009 Charms Investments, LTD agreed to lend the company up to $500,000 at 8% a year; $175,000 had been paid out by the filing date. Adds to the company's debt alongside the Trafalgar and Benbrack loans.
23 July 2009material agreement▲ GoodMajor
On July 17, 2009 the company's subsidiary Ayapamba agreed to buy 99% (799 of 800 shares) of Compania Minera Santafemining S.A. from William W. Magers for $1,631,844, with completion expected in August 2009. Santafemining processes rock and sand tailings, has run at 80 tons per day since 2007 and is being expanded by 70 tons, and sits about one kilometer from the Muluncay operation.
9 July 2009material agreement● NeutralMajor
On July 1, 2009 the company formed a UK subsidiary, Trilliant Diamonds Limited, to run diamond exploration, which bought 10,000,000 shares of Global Diamond Resources PLC for £1,500,000. The company borrowed the same £1,500,000 from Benbrack Charkit Limited at 12% a year to pay for it. This moves the company into diamonds on top of its Ecuadorian gold work. The stake size was later restated in an amendment.
9 July 2009material agreement● Neutral
On July 1, 2009 the company bought 799 of the 800 shares of Compania Minera Ayapambagold S.A., an Ecuadorian company, from William Magers for $799. The filing says Ayapamba has no assets and no substantial operations; it was used as the buyer in the later Santafemining deal.
20 May 2009material agreement● Neutral
On May 15, 2009 the company secured a $300,000 loan from Trafalgar Capital Specialized Investment Fund, described as a major stockholder, through a securities purchase agreement and redeemable debenture. The filing gives no interest rate or repayment terms.
15 May 2009late filing notice▼ Bad
TRILLIANT EXPLORATION CORP notified the SEC that its quarterly report would be filed late.
31 Mar 2009asset acquisition disposition● NeutralMajor
On March 30, 2009 the company bought 100% of Compania Muluncaygold Corp. S.A., an Ecuadorian gold mining concession (the Muluncay Project), from Compania Minera del Pacifico (MDP), paying with a $3,600,000 promissory note at 4.5% interest. Repayment starts only once the mine reaches 400 tons per day. The company also released MDP from a $1,195,000 debt plus interest and agreed to invest $1,800,000 in Muluncaygold ($800,000 within 90 days, $1,000,000 within 180 days). The deal replaces an October 15, 2008 asset purchase agreement with MDP, which owned about 32% of the company's stock. The filing says the company was a shell company immediately before the deal.
31 Mar 2009late filing notice▼ Bad
TRILLIANT EXPLORATION CORP notified the SEC that its annual report would be filed late.
30 Jan 2009director interest notice● Neutral
TRILLIANT EXPLORATION CORP 10%+ owner Del Pacifico Noroeste S A Minera bought 30,000,000 shares on the open market.
28 Jan 2009director interest notice● Neutral
TRILLIANT EXPLORATION CORP President William Robert Lieberman bought 200,000 shares on the open market.
28 Jan 2009director interest notice● Neutral
TRILLIANT EXPLORATION CORP Secretary Andrew James Befumo bought 250,000 shares on the open market.
4 Nov 2008securities registration● Neutral
TRILLIANT EXPLORATION CORP filed notice of an exempt private placement.
21 Oct 2008director interest notice● Neutral
TRILLIANT EXPLORATION CORP 10%+ owner Darryl J Mills sold 20,250,000 shares at $0.01.
13 May 2008late filing notice▼ Bad
TRILLIANT EXPLORATION CORP notified the SEC that its quarterly report would be filed late.
4 Mar 2008securities registration● Neutral
TRILLIANT EXPLORATION CORP filed the final prospectus for a registered offering.
22 Feb 2008material agreement▲ GoodMajor
On February 18, 2008 the Blackedge claims purchase was amended: the installment schedule and the $500,000 cash payment were removed, so the whole price is now 10,000,000 shares, paid once all claims are transferred, due on or before February 28, 2008. Filed under the new name Trilliant Exploration Corporation. This reduces the cash the company must pay but the share count stays the same.
14 Nov 2007late filing notice▼ Bad
TRILLIANT EXPLORATION CORP notified the SEC that its quarterly report would be filed late.
9 Nov 2007material agreement● NeutralMajor
The company (then named Project Development Pacific, Inc.) agreed to buy 80 mineral claims covering 99,240 hectares in ten Townships from Blackedge Strategic Capital and Consulting Ltd. for 10,000,000 company shares plus $500,000, paid in ten installments by June 30, 2008. Blackedge also gets a 3% Net Smelter Royalty. This is the company's first mineral asset deal in the record.
14 Aug 2007late filing notice▼ Bad
TRILLIANT EXPLORATION CORP notified the SEC that its quarterly report would be filed late.
15 May 2007late filing notice▼ Bad
TRILLIANT EXPLORATION CORP notified the SEC that its quarterly report would be filed late.
10 Jan 2007securities registration● Neutral
TRILLIANT EXPLORATION CORP filed the final prospectus for a registered offering.