17 Nov 2022quarterly activities report▼ Bad
VERDE RESOURCES, INC. reported quarterly revenue of $26 thousand and a net loss of $1.4 million for the period ended 2022-09-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 Nov 2022late filing notice▼ Bad
VERDE RESOURCES, INC. notified the SEC that its quarterly report would be filed late.
1 Nov 2022capital raising announcement● Neutral
Verde hired Dutchess Group for investor-communication and PR services, paying 1.5 million restricted shares.
12 Oct 2022asset acquisition disposition▲ GoodMajor
Verde finally closed its acquisition of Bio Resources Limited and its Catalytic Biofraction pyrolysis IP, 17 months after first agreeing to the deal. The filing also revealed Verde now runs three distinct business lines: gold mining (Champmark), renewable biomass products (Verde Resources Malaysia), and a new planned THC-free cannabinoid distribution business (Verde Life, Oregon) - a striking diversification for a company that started as a single Nevada mining shell.
3 Oct 2022asset acquisition disposition▲ GoodMajor
Verde exercised its option and bought the La Belle, Missouri biochar farm property outright for $500,000. The filing was signed by Jack Wong as the company's new President and CEO, marking a leadership change from Balakrishnan B S Muthu.
28 Sept 2022late filing notice▼ Bad
VERDE RESOURCES, INC. notified the SEC that its annual report would be filed late.
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.
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.
16 May 2022late filing notice▼ Bad
VERDE RESOURCES, INC. notified the SEC that its quarterly report would be filed late.
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.
22 Feb 2022quarterly activities report▼ Bad
VERDE RESOURCES, INC. reported quarterly revenue of $0 and a net loss of $843 thousand for the period ended 2021-12-31.
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.)
11 Feb 2022late filing notice▼ Bad
VERDE RESOURCES, INC. notified the SEC that its quarterly report would be filed late.
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.
15 Nov 2021late filing notice▼ Bad
VERDE RESOURCES, INC. notified the SEC that its quarterly report would be filed late.
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.
28 Sept 2021late filing notice▼ Bad
VERDE RESOURCES, INC. notified the SEC that its quarterly report would be filed late.
28 Sept 2021late filing notice▼ Bad
VERDE RESOURCES, INC. notified the SEC that its annual report would be filed late.
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.
21 May 2021quarterly activities report▼ Bad
VERDE RESOURCES, INC. reported quarterly revenue of $14 thousand and a net loss of $67 thousand for the period ended 2021-03-31.
21 May 2021quarterly activities report▼ Bad
VERDE RESOURCES, INC. reported quarterly revenue of $14 thousand and a net loss of $67 thousand for the period ended 2021-03-31.