General Information: To simply the Orex Summary, I am making this post to reference in the summary to shorten the SUmmary.
This is merely a post for review and consideration NOT a buy/sell recommendation ... Do you own research before you invest and verify everything. Also there are a lot of Bashers on this stock so make sure you do verify everything. Look out for POS (Purposely Omitted Syntax) or PAS (Purposely Added Syntax) and down right intentional fabrications (lies) however, typos do happen and so does errors. So please verify any information you read on the Internet. This is a composite of numerous posters on line, pro and con, and real world verification so it is not just mine.
I have not negotiated nor been offered nor accepted any compensation in stock , cash or expenses in any capacity. (Unlike some who tried)
On March 3, 1999, Lucky Seven Gold Mines Corporation, a Delaware corporation since September 6, 1996 and in good standing (June 6, 1999 Authentication # 9017147) changed its name to Orex Gold Mines Corporation (OGMC). This is a new Florida business located at:
Orex filed/registered with the State of Florida F99000003234 :
On June 10, 1999 it was registered: ccfcorp.dos.state.fl.us
SI post on the documentation for Florida:
Message 10819149
Orex Gold Mines Corporation is a start-up company that has no revenues, no business and was created for the sole purpose to design a turnkey mining operation based entirely on the Haber Gold Process It reversed merger into the MMDL shell to become a publicly traded corporation on the NASDAQ Over The Counter market and traded under the ticker of ORXX as of March 4, 1999. After filing all necessary documentation with NASD it became a NSCC Eligible Security (National Securities Clearing Corporation) which is denoted in the link by **. otcbb.com
It actively began trading on March 10,1999. Upon completion of this turnkey plan of operation, the Haber Gold Process will be field tested after almost a decade of waiting.
Please note the Haber deal was done prior to Orex issuing stock to go acquire the shell of MMDL this has been twisted however, there are two articles dated Feb 22, 1999 & March 1, 1999 which the last is 9 days prior to Orex going public which verify this ? Orex did not announce anything until March 24, 1999 20 days after going public?
http://www.siliconinvestor.com/readmsg.aspx?msgid=11102814 also Message 11102919
Orex apparently has the funds to operate this business. How I do not know for sure ... probably private investors money, 504 or private placements, etc. ? Yep it was a 504 for approx. 300K of stock.
On May 19, 1999 Orex finished the site evaluations of three sites of which two are in Arizona and one in Nevada. (Note: these are not the mines or sites that are part of the Santa Maria Mining Corporation which was recently acquired)
On June 7, 1999 Orex announced it was in final negotiations of a joint venture.
On July 13th, 1999, Orex announced a letter of intent to acquire/merger the assets of a newly formed California holding corporation, Santa Maria Mining Corporation (SMMC) and an existing Delaware corporation (not in good standing) World Vanadium, LLC (MVLLC).
SMMC appears to be an asset spin-off from another corporation or individuals but has no revenues or debt just BLM mine/land claims assigned to it , equipment, and contracts. MVLLC appears to be a corporation that has no revenues directly but has BLM mine claims, mining equipment, debt (approx.$150,000.00) and contracts. All these assets and liabilities are suppose to merger through acquisition into OGNC. At which time, these corporations will be dissolved and OGNC will own all the assets and liabilities plus be the surviving corporation.
Note: Due to poor DD and research another company Santa Maria Mining Company L.L.C. has been mistakenly associated with this newly formed Santa Maria Mining Corporation but as you can see the bold LLC makes the miss tax payment with fine of less than $200.00 that is due the State of Arizona is not part of Orex?s acquisition/merger. It is another company all together, however, it may be or is associated with the owners of SMMC & WVLLC. I dunno for sure so I will add this. Also it has been confused with Santa Maria Resources Inc. (OTC:BB SMRR) which is another entirely separate non reporting public company.
This acquisition/merger is for approx. 10M shares of the to be acquired companies 5M ? 8M shares MVLLC and 5M ? 8M shares SMMC, which are all the shares in each company, for a total of 10M ? 16M shares in Orex, I would assume with the fall in price this could be subject to change. At the time this deal was signed the stock price was $3.00. The aggregate was $30,000,000, however, the stock is trading around $0.30 so the aggregate is only $3,000,000.00. The stock price has no bearing on this acquisition/merger because the exchange rate is a 1:1.
On July 29, 1999 Orex announced completion of the due diligence of the two companies. In the release one of the sites was given by name:
1.) WVLLC's is suppose to be fully equipped and permitted commercial scale mining operations located firstly on the Colorado Plateau (WHICH HAS NOT CLOSED) and
2.) SMMC's is suppose to be fully equipped and permitted commercial scale mining operations located secondly in the Santa Maria River Valley, near Wickenburg, AZ. (This was able to be researched through the BLM)
Some of the Santa Maria Mine Permits/Licenses:
1.) Arizona Dept. of Water Resources Operation Division. # 33-94841 for appropriation of water. Application of Public Water Rights Cert # 94841-0000 in Tom Mills name assigned to SMMC for the mill at the Santa Maria River Projection.
2.) Arizona Dept. of Water Resources Operation Division. # 55-8051381 For Carl Olsen for the mining and milling of the Santa Maria mine.
3.) Arizona Dept. Of Environmental Protection ? Ground Water Quality Protection Permit. # G-0077-13 Larry McMillian
4.) Arizona Dept. of Trans. / Fuel Use License # 0905820 Santa Maria Mining
And there are more permits and licenses but this is enough to prove they have the permits and licenses and whatever. These alone are about 200 pages of documentation.
On August 16th 1999 Orex Gold Mines Corp. Acquires Santa Maria Mining Corp.(SMMC) but did not closed on World Vanadium, LLC
There is a video that has been made on the Haber Gold Process, which is due out also to all shareholders of record. It is an 8-minute tape and very well produced. Upon investing in this stock on the gap up from .34 to .68 on 5000 shares on July 29, 1999, I called and requested an investor package and tape. I received the tape and a lot of the literature which I OCRed and posted on line. The tape I have is a drafted copy I guess because it has tracking in the upper right hand corner.
Management Background Search: (Within my resources)
Of the four principals on the website, I can find nothing on them in the SEC website nor the Federal Trade Commission Website.
HGP Demonstration set for sometime in late Sept or early October when the mine?s licenses and permits have been updated so the mine can be operational. The required safety training is in process or has been completed on the mine personnel.
Stock structure as last verified on 8-25-99 ... 23,342,500 outstanding / 4,893,000 Restricted / 18,449,500 Float / 10 M in street name (stock in brokerage house ?Free trading Float?) as of this post verified through the TA. There are no warrants, options, convertible debentures, reg-s or preferred shares as of this posting according to the company.
More as verified DD is posted. I will update this summary ? Again be careful this one has an unusual amount of concerned bashers and they are using numerous different anon, names ? Always verify all you can before you put your money into it. Please expect more bashers as any accumulation continues. Also beware the threads will be controlled by bashers to make it impossible to share any research. Do your own research and verifications.
:-)
GB |
