13 Sept 2022material agreement● Neutral
Verde added an option to its La Belle, Missouri lease to also buy an adjoining gymnasium building for $40,000 plus 180,000 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
13 July 2022capital raising announcement● Neutral
A second farming consultant was engaged for biological-farming training and product development, paid in 500,000 shares plus a $25,000 deposit.
13 June 2022capital raising announcement● Neutral
Verde Renewables hired a consultant to develop a designer compost product and regenerative farming programs, paying with 1 million restricted shares.
5 May 2022asset acquisition disposition● Neutral
Verde's US subsidiary paid $750,000 cash for a residential property in Chesterfield, Missouri, to use as corporate housing near its new biochar farming operations.
25 Apr 2022material agreement▲ GoodMajor
Verde signed a 5-year deal to supply carbon-negative agricultural inputs (biochar and bio-enzymes) to The Borneo Food Group, the SugarBun and Sabasco restaurant-brand owner - a related-party contract, since Borneo Food's parent, Borneo Oil Berhad, is also one of Verde's largest shareholders.
22 Apr 2022material agreement termination▼ Bad
Verde called off its planned acquisition of Global Renewables entirely, canceling the agreement.
31 Mar 2022auditor change● Neutral
Verde's board replaced auditor Centurion ZD CPA with J&S Associate, with no disagreements reported - though Centurion's prior reports had flagged ongoing doubt about the company's ability to continue as a going concern.
29 Mar 2022material agreement● Neutral
Verde brought its marketing and public-relations function in-house, acquiring Malaysian firm The Wision Project for a nominal 1 Malaysian Ringgit.
3 Mar 2022material agreement termination● NeutralMajor
Verde backed away from outright buying the Segama Ventures factory site, canceling that $1.6 million purchase (getting its $800,000 deposit refunded) in favor of a cheaper 7-year lease-with-option-to-purchase arrangement - a more capital-conservative way to secure the same expansion site.
15 Feb 2022material agreement▲ GoodMajor
Verde's Missouri subsidiary leased a 24-acre property in La Belle, Missouri with an option to buy it for $490,000, to start a US biochar "carbon farming" operation - its renewables pivot's first move onto American soil. (This filing duplicates an identical one filed the same week under a separate accession number - apparently a filer-side double submission.)
15 Feb 2022material agreement▲ GoodMajor
Verde's Missouri subsidiary leased a 24-acre property in La Belle, Missouri with an option to buy it for $490,000, to start a US biochar "carbon farming" operation - its renewables pivot's first move onto American soil. (This is a duplicate of an identical 8-K filed the same week under a different accession number - the same event, not a second transaction.)
25 Jan 2022material agreement▲ GoodMajor
Verde disclosed the real substance behind its renewables pivot: a May 2021 deal to buy Bio Resources Limited, owner of the "Catalytic Biofraction Process" - a pyrolysis technology that turns palm-oil waste into bio-oil, biochar and other products - for 321.5 million shares plus $20.355 million in promissory notes to 17 lenders. In January 2022 Verde got those lenders to convert the entire $20.355 million note balance into stock instead of cash, avoiding a major debt repayment at the cost of further dilution.
7 Oct 2021material agreement● Neutral
Verde clarified that its planned purchase of Global Renewables was conditional on first completing a separate, not-yet-closed acquisition of Bio Resources Limited - a procedural correction, not new news.
22 June 2021material agreement▲ Good
Verde signed two small deals: a new subsidiary agreed to buy Global Renewables for a nominal fee, and Gold Billion Global agreed to buy the remaining 15% of Champmark (the gold mine operator) for about $36,000, which would give Verde full ownership of its mining subsidiary for the first time since 2014.
16 June 2021material agreement▲ GoodMajor
After years as a dormant Malaysian gold-mining shell, Verde signaled a pivot into renewables: its subsidiary Gold Billion Global agreed to buy a Malaysian factory site from Segama Ventures for $1.6 million to expand a planned "biofraction" biomass-processing plant.
10 June 2021capital raising announcement● NeutralMajor
Verde converted $1.95 million owed to four creditors - Beijing Changxin Wanlin Technology, Federal Mining Resources, Federal Capital Investment and Yorkshire Capital - into 64.8 million shares at $0.03/share, clearing old debt at the cost of significant further dilution.
13 May 2021capital raising announcement▲ GoodMajor
Verde launched its renewables pivot in two linked deals: buying Borneo Energy's biofraction plant assets and Sabah rights to the Catalytic Biofraction Process for 166.67 million shares, and separately agreeing to acquire Bio Resources Limited - the actual owner of that palm-biomass pyrolysis IP - from Taipan International and Borneo Resources Limited.
10 May 2016auditor change● Neutral
Verde's Hong Kong auditor AWC merged with Dominic K.F. Chan & Co. to form DCAW, which Verde then engaged as its new auditor - a routine firm-consolidation change with no disagreements.
10 Feb 2016business combination● Neutral
Verde reshuffled its leadership: President and director Wu Ming Ding resigned, with existing CFO Balakrishnan B S Muthu stepping up to President, and Singapore investor Chen Ching (of C&K Holdings) joining the board. No new party took control - ownership stayed split among several holders in the 5-12% range.
4 Apr 2014asset acquisition disposition▲ GoodMajor
Verde's subsidiary Gold Billion Global Limited exercised its option to buy the full 85% equity stake in Champmark Sdn Bhd, the company that actually operates the Merapoh gold mine, for a nominal $1 - converting Verde's earlier management-rights arrangement into direct ownership of the mine operator.
2 Apr 2014auditor change● Neutral
Verde filed a second round of SEC-requested clarifications on the same Albert Wong & Co. auditor engagement, adding detail with no change in substance.
12 Mar 2014auditor change● Neutral
Responding to an SEC comment letter, Verde clarified its auditor-change disclosures and confirmed it hired Albert Wong & Co. of Hong Kong to audit the new Malaysian mining subsidiary's books - a procedural cleanup, not new news.
20 Feb 2014asset acquisition disposition▲ GoodMajor
Verde completed the Merapoh takeover: its new subsidiary Gold Billion Global Limited took over Federal Mining Resources' management rights in Champmark Sdn Bhd, the Malaysian contractor that actually operates the Merapoh mine site under a permit held by MMC Corporation Berhad. Verde's headquarters moved to Hong Kong, and it dismissed its US auditor as it transitioned to majority Asian ownership and management.
28 Oct 2013capital raising announcement▲ GoodMajor
The reverse merger's first concrete step: Federal Mining Resources assigned Verde management rights over Champmark Sdn Bhd, the Malaysian contractor operating the Merapoh Gold Mine, in exchange for 80 million Verde shares - while Verde simultaneously cancelled its old Nevada gold-claims purchase agreement, formally ending its original mining-shell business.
4 Oct 2013business combination▲ GoodMajor
Verde struck a much bigger version of the Merapoh gold mine deal: Federal Mining Resources Ltd. (via its subsidiary, also confusingly named Gold Billions) will take 100% of the mine's operating rights in exchange for 80 million new Verde shares - 95% of the company - triggering a full change of control. Founders Stephen Spalding and Michael Stiege will resign, replaced by Wu Ming Ding, Balakrishnan B S Muthu and Liang Wai Keen.
8 July 2013material agreement▼ BadMajor
The Merapoh gold mine deal with Gold Billion Global Limited fell apart within weeks: the promised cash deposit never arrived, so Verde terminated the agreement, returned the escrowed shares to treasury, and gave back the mining interest.
17 June 2013material agreement▲ GoodMajor
Looking for a real project, Verde agreed to issue 10 million escrowed shares to Gold Billion Global Limited in exchange for a 10% interest in the Merapoh Gold Mine in Pahang, Malaysia, pending a cash deposit into the company - its first move toward becoming a Malaysian gold miner.
23 May 2013material agreement● Neutral
Verde again renegotiated its small Nevada mineral-claim payments with Gold Explorations, stretching a $10,000 installment into monthly payments - a sign the shell was still operating on a shoestring.
7 Aug 2012auditor change● Neutral
Verde dismissed its auditor Child, Van Wagoner & Bradshaw (whose prior reports flagged going-concern doubt) and engaged Sadler, Gibb & Associates, with no disagreements reported - a routine change for a still-dormant shell.
10 Feb 2012material agreement● Neutral
As a small Nevada exploration shell run by President Stephen Spalding, Verde Resources got its Nevada mineral-claim seller, Gold Explorations LLC, to push back the deadline for completing its 2011 work program to 2012 - the kind of deferral typical of a barely-funded shell keeping a claim alive.