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MINERALRITE (RITE) has filed Form 10-12g with the SEC to initiate the process of becoming a fully reporting company. The filing is accessible through the SEC's EDGAR System and has been posted on RITE's Investor Relations page.
CEO James Burgauer outlined the company's strategic plan: first cleaning up and stabilizing the company, then acquiring assets, followed by raising capital for development and certification of acquired assets. The company aims to engage with the brokerage community through PCAOB audited financials and Form 10-12g filing to facilitate more active trading and potential lifting of the 'Unsolicited Quotes Only' banner through a 15c-211 sponsor.
The Form 10-12g is pending SEC review and comments. The company believes it has provided thorough, fair, and accurate disclosures.
MINERALRITE (RITE) has executed a Definitive Agreement to acquire two subsidiaries holding four mineral assets previously owned by NMC, Inc. The acquisition includes $432 million in audited asset value, consisting of over 700 acres of LODE mining claims and 279,000 tons of seismically proven tailings.
The transaction terms involve issuing approximately 6.9 million shares of newly designated convertible preferred stock, 6.9 million warrants, and assuming $5 million in liabilities. Each preferred share will be convertible into 500 common shares and includes warrants at $0.03 per share. The book value of RITE common stock increased to approximately $.031 per share post-conversion.
The company plans to conduct a Regulation A offering in spring 2025, potentially raising up to $75 million every twelve months. RITE is currently raising capital through a Reg D Rule 506(c) offering to fund joint venture operations and pursue uplisting to a more prominent exchange.
MINERALRITE (RITE), an OTC Pink Sheets micro-cap stock, has engaged Zhanna Kelley CPA P.C. for a PCAOB audit as part of its corporate rebirth strategy. Since Q4 2023, CEO Burgauer has led efforts to address historical issues, resulting in:
1. $519,000 accounting profit from derecognizing historical obligations
2. Reclamation of over 10 million shares, with 800 million more in progress
3. Renegotiation of convertible obligations, reducing dilution by 1.2 billion shares
The company aims to become fully audited and reporting, potentially enabling a Tier 2 Regulation A offering to raise up to $75 million annually. RITE plans to acquire mineral assets, develop them, and become an active metal supplier, with the goal of moving to the OTCQB market.
MINERALRITE (RITE), a micro-cap stock trading on OTC Pink Sheets, reported $519,000 in earnings for the first six months of 2024. This translates to approximately $0.0001 per share. The company has been actively cleaning up historical issues, engaging industry experts, and preparing for future growth. Key accomplishments include:
1. Cancelling millions of outstanding shares
2. Minimizing future share issuances
3. Cancelling over $750,000 worth of convertible obligations
4. Reducing scheduled dilution by 1.2 billion shares
RITE is focusing on three sectors: Mineral Management, Mining, Milling & Processing, and Acquisition, Recycling, Management & Liquidation. The company aims to raise capital for completing acquisitions in its pipeline.
MineralRite Corp. has announced the addition of four experts to advance its strategic business plan. Key hires include Todd Gibson, who brings 26 years of experience in the oil and gas industry; James Bame, a lawyer with expertise in contract and intellectual property law; and Thomas Benson, an equipment management specialist. Additionally, the company has partnered with Sterling Macro Research LLC for mergers and acquisitions. CEO Guy Peckham expressed enthusiasm about these developments aimed at enhancing the company's growth and operational capabilities.
MineralRite Corp. (OTC PINK: RITE), based in Dallas, has engaged MIS Consulting, Inc. and James Burgauer to enhance its business model as a diversified holding company. This move follows a corporate restructuring aimed at executing a new business strategy. MIS Consulting, established in 1984, specializes in various sectors, notably technology and mining. Burgauer, a seasoned entrepreneur, brings a wealth of experience from the brokerage industry. The compensation structure is designed to incentivize the development of profitable business avenues.
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