Canadian AMECA Mining is reverse merging into this OTC shell
and will be doing a name change.All the paperwork documents were sbmitted to the courts in Delaware back in August but the process has been delayed due to the Covid .Normally it would have taken 4-5 weeks...the court has already received most of the doc's but is awaiting a hard copy due in any day now.
https://www.amecamining.com/
so this is a case where a private Canadian mining company is going public using an existing shell on the US OTC market.The old name Southcorp Capital will be changed to something more appropriate .They own alot the mining rights for gold in Sri Lanka (off the coast of India) and while drilling for gold they unexpectedly found a large 2 million tonne graphite deposit worth a confirmed value of 4.4 billion dollars.
the info on OTC markets is for the old company now extinct except for the share structure which has been updating every 2-3 days of late in anticipation of a change over.There is a stop sgn up because of the lack of full filings to the otc by the old company.When the court finally give the approval stamp all of the filings will be up loaded to the OTC for Ameca and they will begin issuing pr's.
check out who is on the board of directors!
Market cap ................8,054,278
Authorized shares.....750,000,000
Outstanding shares...369,472,361
Restricted.........................80,124,472
Unrestricted...................289,337,799
the float numbers listed are from 2015 and not valid...think the unrestricted numbers
you may have issues in Canada buying shares due to the stop sign up....some may not....soon the stop sign will come down after the otc receives the new doc's and filings....
"#AmecaMining Current Market Cap:
$8M with price at .0218
They have $4 Billion worth of High Grade Graphite.
$4000M divided by $8M is 500.
500 x .0218 is $10.9/share.......
Interesting math huh?"
if one does some DD you will find this is ...imo...a heck of an opportunity!
I was on this site 10-15 years ago but lost my pass/ID...