17 June 2013registration revoked▼ BadMajor
The SEC revoked Millennium Energy Corp.'s securities registration effective June 17, 2013, for failure to file periodic reports - more than three years after its last filing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
25 Jan 2010financial restatement▼ BadMajor
The same resource-property valuation restatement was extended to cover the Q3 2009 (Sept 30, 2009) financial statements as well.
10 Dec 2009financial restatement▼ BadMajor
Millennium's board determined on December 8, 2009 that its FY2008 annual report and Q1/Q2 2009 financial statements (all originally audited by the now-deregistered Moore & Associates) could no longer be relied on, due to a restatement of the book value of its Slovak uranium property, and would need to be re-filed with restated figures.
27 Nov 2009quarterly activities report▼ BadMajor
Reported a net loss of just $61,849 for the first nine months of 2009 (versus $162,923 for the same period in 2008) as the company sat largely dormant amid its accounting overhaul; cumulative losses since inception reached $316,341. These figures were later folded into the restatement, and this would prove to be the company's last quarterly filing before it stopped reporting altogether.
18 Sept 2009auditor change● Neutral
The SEC closed its review of the amended auditor-change disclosure with no further comments.
10 Sept 2009auditor change▼ BadMajor
Millennium amended its auditor-change 8-K to say the SEC had advised it that the PCAOB revoked Moore & Associates Chartered's registration on August 27, 2009. It also said it had been unable to obtain Moore's Exhibit 16.1 letter.
3 Sept 2009auditor change▼ BadMajor
SEC staff informed the company that on August 27, 2009 the PCAOB had revoked Moore & Associates Chartered's registration entirely, for violations of PCAOB auditing standards, quality-control rules, securities-fraud rules and noncooperation with a PCAOB investigation - and directed Millennium to amend its August auditor-change 8-K to disclose this, and to have its new auditor re-audit the prior year's financials.
7 Aug 2009auditor change● Neutral
Millennium dismissed auditor Moore & Associates Chartered on August 6, 2009 and engaged Seale and Beers, CPA's, LLC; the company reported no disagreements with Moore.
15 Apr 2009annual report● NeutralMajor
FY2008 (its first full Form 10-K): cumulative net loss since inception reached $254,492 (still no revenue), while total assets jumped to $6,001,855 - almost entirely the $6,000,000 book value the company assigned its new Slovak uranium property rights (paid for in stock, not cash). This valuation would be restated downward a year later.
7 Nov 2008annual report● Neutral
The SEC closed its review of the FY2007 10-KSB with no further comments.
5 Nov 2008annual report● Neutral
An amended FY2007 annual report adding the omitted disclosure-controls conclusion the SEC had flagged; the reported financial figures were unchanged.
28 Oct 2008annual report▼ Bad
SEC staff opened a comment-letter review of the FY2007 10-KSB, flagging that the company had not disclosed its officers' conclusions on disclosure-control effectiveness - "it appears evident that such controls and procedures were not effective" - prompting the amended 10-KSB that followed.
29 Sept 2008asset acquisition disposition● NeutralMajor
Millennium acquired a 100% undivided interest (subject to a 1% net refining return royalty) in the 41.4 sq km Spišské Vlachy uranium property in Eastern Slovakia from Central European Metals S.R.O. for 25 years from June 30, 2008. It paid by issuing 20,000,000 restricted shares on September 22, 2008.
14 Apr 2008annual report▼ Bad
FY2007 (inception June 2006 through Dec 31, 2007): net loss of $83,996, no revenue. Now Millennium Energy Corp., the company described its new direction as uranium exploration, with CEO Jana Whitlock (who has no uranium-industry experience) planning to hire outside consultants and geologists.
31 Mar 2008bylaws amendment● NeutralMajor
Effective March 26, 2008, the company merged with a subsidiary to rename itself Millennium Energy Corp. (ticker MLME). The new name reflected a change of business direction from an intended pyrolysis technology license to uranium exploration.
29 Nov 2007bylaws amendment● NeutralMajor
Effective November 29, 2007, the company completed an internal merger with its own subsidiary to rename itself "CBp Carbon Green, Inc." and effected a 15-for-1 forward stock split, taking issued shares from 7,333,333 to 109,999,995 under new ticker CBPG.
21 Nov 2007director officer appointment● Neutral
The Whitlock stock purchases closed on November 18, 2007; Perry and Mirkovic resigned and Whitlock became President, CEO and a director.
8 Nov 2007director officer appointment● NeutralMajor
A change of control: Jana Whitlock agreed to buy out both founders - President/CEO Jacob Perry and Secretary/Treasurer Dejan Mirkovic, 2,500,000 shares each - for $25,000 apiece ($50,000 total), giving her 68.18% of the company; Perry and Mirkovic agreed to resign as officers and directors in her favor.
8 Nov 2007director officer appointment● NeutralMajor
The Rule 14f-1 information statement disclosing the same Jana Whitlock change-of-control and board turnover described in the same day's 8-K - a pure private stock purchase and management handover, not an acquisition of any outside business.
19 June 2007capital raising announcement● Neutral
The offering closed: Shopper's Wallet sold 2,333,333 of the 3,000,000 registered shares to 36 offshore investors at $0.03/share, raising $70,000.