We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Indigenous Roots Corporation (CE) | USOTC:IRCC | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.103 | 0.00 | 01:00:00 |
Nevada
|
20-5243308
|
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification No.)
|
1878 Camino Verde Lane, Las Vegas, Nevada
|
89119
|
(Address of principal executive offices)
|
(Zip Code)
|
Title of Each Class
|
Name of Each Exchange on Which Registered
|
N/A
|
N/A
|
Large accelerated filer [ ]
|
Accelerated filer [ ]
|
Non-accelerated filer [ ]
|
Smaller reporting company [X]
|
PART I
|
|
|
Item 1.
|
Business
|
4
|
Item 1A.
|
Risk Factors
|
5
|
Item 1B.
|
Unresolved Staff Comments
|
7
|
Item 2.
|
Properties
|
7
|
Item 3.
|
Legal Proceedings
|
8
|
Item 4.
|
Mine Safety Disclosures
|
8
|
PART II
|
|
|
Item 5.
|
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
|
8
|
Item 6.
|
Selected Financial Data
|
9
|
Item 7.
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
9
|
Item 7A.
|
Quantitative and Qualitative Disclosures About Market Risk
|
12
|
Item 8.
|
Financial Statements and Supplementary Data
|
13
|
Item 9.
|
Changes in and Disagreements With Accountants on Accounting and Financial Disclosure
|
22
|
Item 9A.
|
Controls and Procedures
|
22
|
Item 9B.
|
Other Information
|
23
|
PART III
|
|
|
Item 10.
|
Directors, Executive Officers and Corporate Governance
|
23
|
Item 11.
|
Executive Compensation
|
24
|
Item 12.
|
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
|
25
|
Item 13.
|
Certain Relationships and Related Transactions, and Director Independence
|
25
|
Item 14.
|
Principal Accounting Fees and Services
|
26
|
PART IV
|
|
|
Item 15.
|
Exhibits, Financial Statement Schedules
|
26
|
SIGNATURES
|
|
28
|
Quarter Ended
|
High
|
Low
|
||||||
August 31, 2017
|
$
|
0.10
|
$
|
0.06
|
||||
May 31, 2017
|
$
|
0.10
|
$
|
0.02
|
||||
February 28, 2017
|
$
|
0.10
|
$
|
0.04
|
||||
November 30, 2016
|
$
|
0.10
|
$
|
0.04
|
(1) |
Over-the-counter market quotations reflect inter-dealer prices without retail mark-up, mark- down or commission, and may not represent actual transactions.
|
(2) |
No trades occurred during this period.
|
(3) |
The first trade in our stock did not occur until March 4, 2010.
|
Equity Compensation Plan Information
|
||||||
Plan category
|
Number of securities to
be issued upon exercise
of outstanding options,
warrants and rights
|
Weighted-average
exercise price of
outstanding options,
warrants and rights
|
Number of securities
remaining available for
future issuance under equity
compensation plans
(excluding securities
reflected in column (a))
|
|||
Equity compensation plans approved by security holders
|
Nil
|
Nil
|
Nil
|
|||
Equity compensation plans not approved by security holders
|
Nil
|
Nil
|
Nil
|
|||
Total
|
Nil
|
Nil
|
Nil
|
Expense
|
Amount
|
|||
General, Administrative, and Corporate Expenses
|
$
|
25,000
|
||
Operating Expenses
|
$
|
25,000
|
||
Total
|
$
|
50,000
|
|
Year Ended
|
|||||||
|
August 31,
|
|||||||
|
2017
|
2016
|
||||||
Operating expenses
|
$
|
(131,279
|
)
|
$
|
(305,238
|
)
|
||
Other expenses
|
$
|
(98,903
|
)
|
$
|
(96,749
|
)
|
||
Gain on reversal of debt
|
37,612
|
236,657
|
||||||
Net income (loss) for the year
|
$
|
(192,570
|
)
|
$
|
(165,330
|
)
|
|
Year Ended
|
|||||||
|
August 31,
|
|||||||
|
2017
|
2016
|
||||||
General and administrative expense
|
$
|
130,834
|
$
|
274,188
|
||||
Legal and audit fees
|
445
|
31,050
|
||||||
Foreign exchange
|
862
|
(1,561
|
)
|
|||||
Interest expense
|
98,041
|
98,310
|
||||||
|
At August 31,
|
|||||||
|
2017
|
2016
|
||||||
Current Assets
|
$
|
2,145
|
$
|
866
|
||||
Current Liabilities
|
$
|
1,788,844
|
$
|
1,631,920
|
||||
Working Capital Deficit
|
$
|
(1,786,699
|
)
|
$
|
(1,631,504
|
)
|
Quoted
|
Significant
|
Significant
|
||||||||||||||
Carrying value
|
Prices in
|
Other
|
Unobservable
|
|||||||||||||
August 31, 2017
|
(Level 1)
|
(Level 2)
|
(Level 3)
|
|||||||||||||
Financial liabilities
|
||||||||||||||||
Accounts payable and accrued expenses
|
$
|
18,256
|
$
|
18,256
|
$
|
-
|
$
|
-
|
||||||||
Due to related parties
|
$
|
159,772
|
$
|
159,772
|
$
|
-
|
$
|
-
|
||||||||
Convertible notes – related parties
|
$
|
1,610,816
|
$
|
-
|
$
|
1,610,816
|
$
|
-
|
|
August 31, 2017
|
August 31, 2016
|
||||||
ASSETS
|
||||||||
Current Assets
|
||||||||
Cash
|
$
|
2,145
|
$
|
866
|
||||
Total Assets
|
$
|
2,145
|
$
|
866
|
||||
LIABILIITES AND STOCKHOLDERS’ DEFICIT
|
||||||||
Current Liabilities
|
||||||||
Accounts payable
|
$
|
18,256
|
$
|
63,879
|
||||
Due to related parties (note 6)
|
159,772
|
55,266
|
||||||
Convertible loan payable - related party (note 3)
|
1,610,816
|
1,512,775
|
||||||
Total Liabilities
|
1,788,844
|
1,631,920
|
||||||
|
||||||||
STOCKHOLDERS’ DEFICIT
|
||||||||
Common stock
|
||||||||
200,000,000 authorized shares, par value $0.001
|
||||||||
7,612,500 and 7,612,500 shares issued and outstanding
|
||||||||
as at August 31, 2017 and 2016 respectively
|
7,613
|
7,613
|
||||||
Additional paid-in-capital
|
3,552,370
|
3,552,370
|
||||||
Shares to be issued (note
s
4
and 8
)
|
513,116
|
476,191
|
||||||
Deficit
|
(5,859,798
|
)
|
(5,667,228
|
)
|
||||
Total Stockholders’ Deficit
|
(1,786,699
|
)
|
(1,631,054
|
)
|
||||
Total Liabilities and Stockholders’ Deficit
|
$
|
2,145
|
$
|
866
|
|
Years Ended August 31,
|
|||||||
2017
|
2016
|
|||||||
EXPENSES
|
||||||||
Operating expenses
|
||||||||
General and administrative expenses
|
$
|
130,834
|
$
|
274,188
|
||||
Legal and audit fees
|
445
|
31,050
|
||||||
Loss before other items
|
(131,279
|
)
|
(305,238
|
)
|
||||
|
||||||||
Other (income) expenses
|
||||||||
Foreign exchange
|
862
|
(1,561
|
)
|
|||||
Interest expense
|
98,041
|
98,310
|
||||||
Gain on reversal of debt (note 7)
|
(37,612
|
)
|
(236,657
|
)
|
||||
|
||||||||
Net loss
|
$
|
(192,570
|
)
|
$
|
(165,330
|
)
|
||
|
||||||||
BASIC AND DILUTED LOSS PER COMMON SHARE
|
$
|
(0.03
|
)
|
$
|
(0.02
|
)
|
||
|
||||||||
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING – BASIC AND DILUTED
|
7,612,500
|
6,702,782
|
Common
Stock
|
||||||||||||||||||||||||
Number
|
Amount
|
Additional
Paid in
Capital
|
Shares to
be Issued
|
Accumulated
Deficit
|
Total
|
|||||||||||||||||||
Balance, August 31, 2014
|
1,612,500
|
$
|
1,613
|
$
|
3,291,370
|
$
|
476,191
|
$
|
(5,401,074
|
)
|
$
|
(1,631,900
|
)
|
|||||||||||
Net loss
|
-
|
-
|
-
|
-
|
(100,824
|
)
|
(100,824
|
)
|
||||||||||||||||
Balance, August 31, 2015
|
1,612,500
|
1,613
|
3,291,370
|
476,191
|
(5,501,898
|
)
|
(1,732,724
|
)
|
||||||||||||||||
Shares issued for services
|
6,000,000
|
6,000
|
261,000
|
-
|
-
|
267,000
|
||||||||||||||||||
Net loss
|
-
|
-
|
-
|
-
|
(165,330
|
)
|
(165,330
|
)
|
||||||||||||||||
Balance, August 31, 2016
|
7,612,500
|
7,613
|
3,552,370
|
476,191
|
(5,667,228
|
)
|
(1,631,054
|
)
|
||||||||||||||||
Shares to be issued (note 4)
|
-
|
-
|
-
|
36,925
|
-
|
36,925
|
||||||||||||||||||
Net loss
|
-
|
-
|
-
|
-
|
(192,570
|
)
|
(192,570
|
)
|
||||||||||||||||
Balance, August 31, 2017
|
7,612,500
|
$
|
7,613
|
$
|
3,552,370
|
$
|
513,116
|
$
|
(5,859,798
|
)
|
$
|
(1,786,699
|
)
|
|
Years Ended August 31,
|
|||||||
2017
|
2016
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
||||||||
Net loss
|
$
|
(192,570
|
)
|
$
|
(165,330
|
)
|
||
Non-cash items:
|
||||||||
Gain on reversal of debt
|
(37,612
|
)
|
(236,657
|
)
|
||||
Accrued interest
|
98,041
|
98,310
|
||||||
Shares issued for services
|
-
|
267,000
|
||||||
Change in operating assets and liabilities:
|
||||||||
Increase in due to related parties
|
104,506
|
22,279
|
||||||
Decrease (increase) in accounts payable
|
(8,011
|
)
|
15,227
|
|||||
NET CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES
|
(35,646
|
)
|
829
|
|||||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||||||
Common share subscriptions
|
36,925
|
-
|
||||||
NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES
|
36,925
|
-
|
||||||
|
||||||||
Net change in cash
|
(1,279
|
)
|
829
|
|||||
CASH, BEGINNING
|
866
|
37
|
||||||
CASH, ENDING
|
$
|
2,145
|
$
|
866
|
August 31, 2017
|
August 31, 2016
|
|||||||
Net loss
|
$
|
(192,570
|
)
|
$
|
(165,330
|
)
|
||
35.0
|
%
|
35.0
|
%
|
|||||
Expected income tax recovery
|
(67,000
|
)
|
(58,000
|
)
|
||||
Adjustment to prior year provision versus statutory tax return
|
(46,000
|
)
|
46,000
|
|||||
Change in valuation allowance
|
113,000
|
12,000
|
||||||
Income tax recovery
|
$
|
-
|
$
|
-
|
August 31, 2017
|
August 31, 2016
|
|||||||
Deferred tax assets
|
||||||||
Net operating loss carry forwards
|
$
|
796,000
|
$
|
683,000
|
||||
Less: Valuation allowance
|
(796,000
|
)
|
(683,000
|
)
|
||||
Net deferred income tax assets
|
$
|
-
|
$
|
-
|
1. |
honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;
|
2. |
full, fair, accurate, timely, and understandable disclosure in reports and documents that we file with, or submit to, the Securities and Exchange Commission and in other public communications made by us;
|
3. |
compliance with applicable governmental laws, rules and regulations;
|
4. |
the prompt internal reporting of violations of the Code of Business Conduct and Ethics to an appropriate person or persons identified in the Code of Business Conduct and Ethics; and
|
5. |
accountability for adherence to the Code of Business Conduct and Ethics.
|
Name and Address of Beneficial Owner |
Title of Class |
Amount and
Nature of Beneficial Ownership |
Percentage of Class (1) |
|||
Harold Schneider, Kelowna, BC
|
Common
|
3,000,000
|
39.4%
|
|||
Q4 Financial Group Inc., Vancouver, BC
|
Common
|
3,000,000
|
39.4%
|
|||
Directors and Officers as a group
|
Common
|
Nil
|
0%
|
(1) |
Based on 7,612,500 shares of common stock issued and outstanding as of August 31, 2017. Except as otherwise indicated, we believe that the beneficial owners of the common shares listed above, based on information furnished by such owners, have sole investment and voting power with respect to such shares, subject to community property laws where applicable. Beneficial ownership is determined in accordance with the rules of the Securities and Exchange Commission and generally includes voting or investment power with respect to securities. Shares of common stock subject to options or warrants currently exercisable, or exercisable within 60 days, are deemed outstanding for purposes of computing the percentage ownership of the person holding such option or warrants, but are not deemed outstanding for purposes of computing the percentage ownership of any other person.
|
|
Year Ended
|
|||||||
August 31, 2017
|
August 31, 2016
|
|||||||
$ | $ | |||||||
Audit Fees
|
|
10,000
|
|
20,000
|
||||
Audit Related Fees
|
Nil
|
Nil
|
||||||
Tax Fees
|
Nil
|
Nil
|
||||||
All Other Fees
|
Nil
|
Nil
|
||||||
Total
|
10,000
|
20,000
|
(a)
|
Financial Statements
|
|
|
|
|
(1)
|
Financial statements for our company are listed in the index under Item 8 of this document
|
|
|
|
|
(2)
|
All financial statement schedules are omitted because they are not applicable, not material or the required information is shown in the financial statements or noted thereto.
|
|
|
|
|
(b)
|
Exhibits
|
Exhibit
|
Exhibit
|
||
Number
|
Description
|
||
|
|
||
(3)
|
Articles of Incorporation and By-laws
|
||
|
|||
3.1
|
Articles of Incorporation (incorporated by reference from our Registration Statement on Form SB-2 filed on October 23, 2006).
|
||
|
|||
3.2
|
By-laws (incorporated by reference from our Registration Statement on Form SB-2 filed on October 23, 2006).
|
||
|
|||
3.3
|
Articles of Merger (incorporated by reference from our Current Report on Form 8-K filed on April 12, 2010).
|
||
|
|||
3.4
|
Certificate of Change (incorporated by reference from our Current Report on Form 8-K filed on April 12, 2010).
|
||
|
Exhibit
|
Exhibit
|
||
Number
|
Description
|
||
3.5
|
Certificate of Change filed with the Nevada Secretary of State on November 28, 2010 (incorporated by reference from our Current Report on Form 8-K filed on January 24, 2012).
|
||
|
|||
3.6
|
Certificate of Correction filed with the Nevada Secretary of State on November 29, 2012 (incorporated by reference from our Current Report on Form 8-K filed on January 24, 2012).
|
||
|
|
||
(4)
|
Instruments defining the rights of security holders, including indentures
|
||
|
|
||
4.1
|
Code of Ethics (incorporated by reference from our Annual Report on Form 10-K filed on February 28, 2017).
|
||
|
|
(10)
|
Material Contracts
|
|
|
|
|
10.1
|
Mineral Lease Agreement between Royce L. Hackworth and Belva L. Tomany and Zebra Resources (now know as American Paramount Gold Corp.) dated April 16, 2011. (incorporated by reference from our Current Report on Form 8-K filed on April 19, 2011).
|
|
|
|
|
10.2
|
Consulting Agreement between our company and Wayne Parsons dated April 14, 2011. (incorporated by reference from our Current Report on Form 8-K filed on April 27, 2011).
|
|
|
||
10.3
|
Option Cancellation Agreement between our company and Wayne Parsons dated November 18, 2011.
|
|
|
||
10.4
|
Convertible Loan Agreement between our company and Monaco Capital Inc. dated December 17, 2010.
|
|
|
|
|
(31)
|
Section 302 Certifications
|
|
|
|
|
31.1*
|
Section 302 Certification – Principal Executive Officer
|
|
|
|
|
31.2*
|
Section 302 Certification – Principal Financial Officer
|
(32)
|
Section 906 Certification
|
||
|
|
||
32.1*
|
Section 906 Certification – Principal Executive Officer
|
||
|
|
||
32.2*
|
Section 906 Certification – Principal Financial Officer
|
||
|
|
||
(101)**
|
Interactive Data File (Form 10-K for the Year Ended December 31, 2012)
|
||
|
|
||
101.INS
|
XBRL Instance Document
|
||
101.SCH
|
XBRL Taxonomy Extension Schema Document.
|
||
101.CAL
|
XBRL Taxonomy Extension Calculation Linkbase Document.
|
||
101.DEF
|
XBRL Taxonomy Extension Definition Linkbase Document.
|
||
101.LAB
|
XBRL Taxonomy Extension Label Linkbase Document.
|
||
101.PRE
|
XBRL Taxonomy Extension Presentation Linkbase Document.
|
*
|
Filed herewith.
|
|
|
**
|
To be filed by Amendment
|
|
AMERICAN PARAMOUNT GOLD CORP.
|
|
|
(Registrant)
|
|
|
|
|
|
|
|
Dated: December 13, 2017
|
/s/ Ron Loudoun
|
|
|
Ron Loudoun
|
|
|
President, Chief Executive Officer, Chief Financial Officer,
Secretary, Treasurer and Director
|
|
|
(Principal Executive Officer, Principal Financial Officer
and Principal Accounting Officer)
|
|
|
|
Dated: December 13, 2017
|
/s/ Ron Loudoun
|
|
|
Ron Loudoun
|
|
|
President, Chief Executive Officer, Chief Financial Officer,
Secretary, Treasurer and Director
|
|
|
(Principal Executive Officer, Principal Financial Officer
and Principal Accounting Officer)
|
1 Year Indigenous Roots (CE) Chart |
1 Month Indigenous Roots (CE) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions