ALPHACOM HOLDINGS INC company history: the story so far

History

A Nevada shell with an unexplored Colombian gold claim lost a wind-turbine deal, changed hands three times, stopped filing reports, and had its registration revoked in 2021.

2013-2018: A shell and a failed turbine deal

The company began as MITU Resources Inc., a Nevada shell formed in April 2013 by Juan Perez and Nelson Rincon. It bought a 92.5-hectare gold exploration claim in Colombia for $5,000 and raised $30,000 through a small share offering that became effective in August 2014. The claim was never explored for lack of funds and was written off in the 2016 financial year. The company lived on small shareholder and related-party funding, with a going-concern warning (doubt it could keep operating) attached to its accounts. Shares on issue stayed at 30,000,000 through 2017.

On 7 February 2018, Simeon Leonardo Reyes Francisco bought 15,000,000 shares, about 50%, from the founders. The same day MITU signed a licence with HeadWind Technologies Ltd. for the "Wind Shark" self-starting vertical-axis wind turbine, at a $400,000 fee plus a 3% royalty. It could not meet the payment terms, and in May 2018 both sides signed a settlement unwinding the licence. The 2018 annual report showed no revenue and a net loss of $53,386.

2019-2021: New owners and a quiet end

In March 2019 the company was renamed Alphacom Holdings, Inc., and a 1-for-100 reverse split was approved. On 25 April 2019, Mark Kraus, Scott Silver and George Albert Martin, all based in Hong Kong, were issued 36,000,000 new shares, 55% of the company, and became its officers. They formed a subsidiary, inQbate Labs (HK) Limited, in May 2019, but no products, licensees or revenue followed.

In July 2019 the company filed a late-filing notice for its annual report, then went silent; that report was never filed. On 1 March 2021, Marc&Hem Publicidad S.A. de C.V., of Torreón, Mexico, bought the Hong Kong trio's entire stake, 36,000,000 common shares plus all 7,500,000 Series A Preferred shares, for $60,000. On 2 September 2021 the SEC revoked the company's securities registration for failing to file periodic reports, ending its public reporting life.

Written from the 5 story beats below (2018 to 2 Sept 2021), which come from the company's own announcements and filings.

Beat by beat

The events that changed the company's story, in plain English, each written against everything known about the company at the time. The dot shows whether it was good, bad or neutral for shareholders.

shares on issue market cap (log scale)

2021292k shares · US$146 market cap

2 Sept
The SEC revoked Alphacom Holdings' securities registration effective September 2, 2021, for failure to file periodic reports - ending the Company's public reporting life without ever filing the FY2019 10-K flagged as late two years earlier.
registration revoked
292k shUS$146
1 Mar
Yet another change of control: Marc&Hem Publicidad S.A. de C.V., a Mexican company based in Torreón, Coahuila, bought out Kraus, Silver and Martin's entire stake - 36,000,000 common shares (55%) plus all 7,500,000 Series A Preferred shares (100%) - for $60,000 total.
director officer appointment
292k shUS$1k

2019292k shares · US$80k market cap

25 Apr
Another change of control: Mark Kraus, Scott Silver and George Albert Martin (all based in Hong Kong) were issued a combined 36,000,000 new shares (55% of the company) to take over as CEO/director, Secretary/director, and CFO/Treasurer/director respectively and "move the Company forward in a new direction."
director officer appointment
292k shUS$80k

201830.0m shares · US$64.2m market cap

16 July
FY2018 (still no revenue, net loss $53,386): MITU disclosed that it could not meet the HeadWind license's payment terms, and in May 2018 the two sides signed a mutual Release and Settlement Agreement unwinding the license entirely and releasing all claims - the wind-turbine venture ended within three months of being announced, and the company was again "actively pursuing alternative business opportunities."
annual report
30.0m shUS$64.2m
9 Feb
On February 7, 2018, Simeon Leonardo Reyes Francisco bought 15,000,000 MITU shares (about 50%) from Juan Perez and Nelson Rincon for $15,000. MITU also signed an exclusive license with HeadWind Technologies for the "Wind Shark" vertical-axis wind turbine, for a $400,000 fee paid in tranches plus a 3% royalty, ending its shell status.
business combination
30.0m shUS$1.95bn