History
A Nevada shell, Razor Resources, tried an Idaho oil venture, bought a Honduran gold miner in 2010, hit trouble with partner Mayan Gold, and later became You Han Data Tech.
2008-2009: A shell reshapes its share base
Razor Resources began with a mineral claim in British Columbia, which lapsed in April 2008. That year the company turned its attention to share structure and a new venture. In May 2008 two former directors, Bing Wong and Rong Xing Yang, agreed to return and cancel 37,500,000 and 7,482,150 shares for no payment. The company said fewer shares would benefit minority shareholders. In July 2008 it said this had been done in error. The shares were reinstated, except five million of Bing Wong's, which stayed cancelled. Another former director, Drew Simpson, agreed to return 7,500,000 shares.
In June 2008 Razor also signed a letter of intent with Striker Petroleum LLC to join the drilling of the Idaho Falls Prospect in Eastern Idaho. It expected a 15% interest, with an option to reach 20%. Its share of costs was put at $675,000 for a dry hole and $825,000 more for completion. No later news of this deal appears in the record.
In June 2009 Razor signed a letter of intent with Compania Minera Cerros Del Sur, S.A. for a possible business combination. By then its address was Houston, Texas.
2010: Honduran gold and a troubled partner
On February 9, 2010 Razor closed a share exchange, acquiring 99% of Cerros, a Honduran gold exploration company, for 34,000,000 new shares. Some existing shareholders cancelled 34,000,000 restricted shares at the same time, leaving 65,805,000 shares outstanding. Cerros' former shareholder held about 51.7%. The main property was the Clavo Rico concession. The filing described Razor as a shell company before the deal.
On November 26, 2010 Razor, Cerros and Mayan Gold amended the agreement. Razor committed to invest $2.0M over six months in equipment, geology, drilling and a heap leach pad (a pile of ore treated to extract gold). Mayan was described as holding 35.5M Razor shares, valued at $17.75M, plus $2.0M of payment obligations, of which $570,000 had been paid.
The full amendment showed Razor had missed several covenants due before August 9, 2010. Mayan agreed to hold off on remedies, provided Razor paid $300,000, $150,000 and $1,550,000 by set dates through February 15, 2011. Mayan took over running the mine and gained 40% of net gold from reprocessing old tailings for two years. On an uncured default, 195,000 Cerros shares could pass to Mayan.
2011-2019: Quiet years and a new name
The record is quiet after 2010. The outcome of the Mayan payments and the status of the Clavo Rico interest are not shown. Share count stood at 101,305,000 from 2011 to 2016, though the beats do not explain the change from earlier figures. By October 2019 the company was named You Han Data Tech Co Ltd., with its office in Jilin, China. On October 4, 2019 it deregistered its securities to end its SEC reporting obligations. The filing was withdrawn on October 7 because it had 1,304 holders of record, over the 300 limit, so it remained an SEC reporting company.
Written from the 8 story beats below (2008 to 4 Oct 2019), which come from the company's own announcements and filings.