3 Sept 2008securities registration● Neutral
U.S. RARE EARTHS, INC registered a securities offering with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
4 Jan 2008asset acquisition disposition● NeutralMajor
The Media Depot acquisition closed on December 31, 2007, a little later than the roughly November 21 date expected earlier. The company first reincorporated in Nevada and renamed itself Calypso Media Services Group, then issued 3.5 million shares to Media Depot holders, who now own 70% (against 1.5 million shares outstanding beforehand). The company is now an advertising agency serving manufacturers, distributors and dealers in the US and Canada, with a Pennsylvania head office and an Arkansas satellite office. An employee stock plan covers 120,000 shares for nine employees, vesting over four years. The existing directors and officers were to resign at the merger.
15 Oct 2007material agreement● NeutralMajor
Calypso agreed on October 12, 2007 to acquire Media Depot, Inc. (Montoursville, Pennsylvania), a co-op advertising agency, by merging a new subsidiary into it. Media Depot holders would receive 3.5 million new shares, about 70% of the company after the deal, with a further 5.0 million shares reserved for possible related acquisitions. The company also planned to move from Delaware to Nevada and rename itself Calypso Media Services Group; closing was expected around November 21, 2007. This turns the company from a shell-like entity into an advertising business.
29 Jan 2007auditor change▼ Bad
Calypso Financial Services ended its relationship with auditor Chisholm Bierwolf & Nilson and hired Moore & Associates, Chartered, effective January 22, 2007. The outgoing auditor's report on 2005 had raised going-concern doubt because the company had no ongoing source of revenue covering its costs; the filing reports no disagreements.
16 May 2006late filing notice▼ Bad
U.S. RARE EARTHS, INC notified the SEC that its quarterly report would be filed late.
3 Apr 2006late filing notice▼ Bad
U.S. RARE EARTHS, INC notified the SEC that its annual report would be filed late.
15 Nov 2005late filing notice▼ Bad
U.S. RARE EARTHS, INC notified the SEC that its quarterly report would be filed late.
16 Aug 2005late filing notice▼ Bad
U.S. RARE EARTHS, INC notified the SEC that its quarterly report would be filed late.
31 Mar 2005late filing notice▼ Bad
U.S. RARE EARTHS, INC notified the SEC that its annual report would be filed late.
17 Aug 2004late filing notice▼ Bad
U.S. RARE EARTHS, INC notified the SEC that its quarterly report would be filed late.
8 June 2004auditor change● Neutral
The company, then named Calypso Financial Services, dismissed its auditor Jack F. Burke, Jr. and hired Chisholm, Bierwolf & Nilson to audit its fiscal years 2000 through 2003. The board also confirmed a December 31 year end and said it would file all overdue annual and periodic reports from September 30, 2000 onward, which shows filings had lapsed. The earlier audit report (period ended July 31, 2000) carried a going-concern doubt; the filing reports no disagreements with the former auditor.
17 Nov 1999securities registration● Neutral
U.S. RARE EARTHS, INC registered a small-business securities offering with the SEC.