History
A Nevada shell that drifted from yachts to uranium to gold equipment was diluted into the billions by convertible notes, went dark in 2018, and returned in 2025 with an Arizona mineral lease.
2005-2012: A shell changes hands and names
The company began as Platinum SuperYachts, a yacht design and sales business. On 5 October 2005 it sold its yacht-design assets and its name back to a former officer in exchange for the cancellation of his 9 million shares. It also issued 14.97 million new shares to Santeo Financial, an entity affiliated with director Ron Ruskowsky, to retire a $149,700 debt. That handed Ruskowsky control of what was now a shell.
By 2007 it was Royal Quantum Group. On 2 August 2007 it amended an agreement to acquire 1,540 acres (77 claims) of uranium exploration ground next to the Sheep Mountain Mine in Wyoming, with $220,000 in staged payments due through January 2008. The venture went nowhere, and the record is then quiet until late 2012.
2012-2013: MineralRite and an operating business
On 6 November 2012 the company was renamed MineralRite Corporation and installed Guy Peckham as CEO to pursue new ventures and raise capital. A 1-for-50 reverse split cut shares outstanding to about 1.06 million, after which 40 million new shares were issued to twelve people for services. Year-end 2012 showed about 44.6 million shares.
On 1 March 2013 it agreed to buy all of Goldfield International, Inc., a maker of gold and precious gem recovery equipment, for 2 million restricted shares. The filings gave no dollar price or financial details. It was the first operating business the company had after its shell and claims history.
In May 2013 it formed a 50/50 joint venture with Mexican operator CSI Import and Export to mine copper, and potentially iron ore, in Chiapas and Jalisco. A new $100,000 convertible note at 12% interest paid for it. In September it signed a $686,000 raw-materials supply contract with an unnamed Asian buyer for delivery into Vietnam. At the same time Santeo Financial and its assignees sued to collect the $397,193 note from the 2012 debt restructuring, still the company's largest liability.
2014-2018: The dilution spiral and going dark
In July 2014 insiders, including Peckham, swapped 31 million common shares for Series B Preferred stock. This freed up authorized common shares so that convertible notes could keep being converted. Peckham also swapped his own $100,000 note for Series A Preferred.
The conversions followed quickly. In August the company issued 69 million shares to retire $46,150 of debt, taking shares outstanding to 342 million. Another 59.6 million shares, for $23,073 of debt, brought the total to 401.7 million. In September, 197 million shares for $32,187 of debt, plus a new 8% convertible note, pushed the count toward 595 million. In early October, 722 million shares for $35,022 of debt and another 12% note took it to 1.32 billion. In January 2015 the company took a $77,778 convertible note from River North Equity, converting at 50% of market price and secured by Peckham's pledged preferred shares, along with an equity-line agreement. The year-end 2015 count was about 2.33 billion. On 16 February 2018 the company deregistered its securities, ending its duty to file reports with the SEC.
2025-2026: Revival and a lease in Arizona
The company was revived in 2025 under new leadership as a Texas company. On 29 January 2026 its subsidiary Peeples Inc. signed a mineral materials lease with the Arizona State Land Department for 377 acres in Yavapai County, running through 2043.
On 27 May 2026, after discussions with SEC staff, it restated its FY2025 Form 10 and Q1 2026 financials. The Peeples acquisition was reclassified from a business combination to an asset acquisition. The filing described this as a non-cash presentation fix with no fraud alleged, and it shows the re-registration is under active SEC review.
Written from the 16 story beats below (2005 to 27 May 2026), which come from the company's own announcements and filings.