Verde Resources Files 8-K/A Amendment
Ticker: VRDR · Form: 8-K/A · Filed: Aug 19, 2024 · CIK: 1506929
| Field | Detail |
|---|---|
| Company | Verde Resources, Inc. (VRDR) |
| Form Type | 8-K/A |
| Filed Date | Aug 19, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.07, $675,888 |
| Sentiment | neutral |
Sentiment: neutral
Topics: amendment, material-agreement, equity-securities
TL;DR
Verde Resources amended its 8-K filing on March 13, 2023, covering material agreements and equity sales.
AI Summary
Verde Resources, Inc. filed an 8-K/A amendment on March 13, 2023, related to a material definitive agreement and unregistered sales of equity securities. The filing also includes financial statements and exhibits. The company is incorporated in Nevada and its principal executive offices are located in St. Louis, Missouri.
Why It Matters
This amendment provides updated information and disclosures regarding material agreements and equity transactions, which could impact investor understanding of the company's financial and operational status.
Risk Assessment
Risk Level: low — This filing is an amendment to a previous report and primarily contains updated disclosures and exhibits, rather than new material events.
Key Players & Entities
- Verde Resources, Inc. (company) — Registrant
- March 13, 2023 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
- St. Louis, Missouri (location) — Principal executive offices
FAQ
What is the primary purpose of this 8-K/A filing?
The primary purpose of this 8-K/A filing is to amend a previous report, specifically addressing a material definitive agreement, unregistered sales of equity securities, and including financial statements and exhibits.
When was the earliest event reported in this filing?
The earliest event reported in this filing occurred on March 13, 2023.
What is Verde Resources, Inc.'s state of incorporation?
Verde Resources, Inc. is incorporated in Nevada.
Where are Verde Resources, Inc.'s principal executive offices located?
Verde Resources, Inc.'s principal executive offices are located at 8112 Maryland Ave, Suite 400, St. Louis, Missouri 63105.
What SEC Act does this filing pertain to?
This filing pertains to the Securities Exchange Act of 1934.
Filing Stats: 676 words · 3 min read · ~2 pages · Grade level 11 · Accepted 2024-08-19 11:12:39
Key Financial Figures
- $0.07 — he Company's common stock at a price of $0.07 per share. As set out in the SDA Agreem
- $675,888 — Creditor to convert the total amount of $675,888 into shares of the Company's restricted
Filing Documents
- vrdr_8ka.htm (8-K/A) — 21KB
- vrdr_ex10.htm (EX-10) — 6KB
- vrdr_ex10img20.jpg (GRAPHIC) — 29KB
- vrdr_ex10img19.jpg (GRAPHIC) — 97KB
- vrdr_ex10img18.jpg (GRAPHIC) — 128KB
- vrdr_ex10img17.jpg (GRAPHIC) — 27KB
- vrdr_ex10img16.jpg (GRAPHIC) — 36KB
- vrdr_ex10img15.jpg (GRAPHIC) — 66KB
- vrdr_ex10img14.jpg (GRAPHIC) — 76KB
- vrdr_ex10img13.jpg (GRAPHIC) — 84KB
- vrdr_ex10img12.jpg (GRAPHIC) — 27KB
- vrdr_ex10img11.jpg (GRAPHIC) — 57KB
- 0001640334-24-001304.txt ( ) — 1003KB
- vrdr-20230313.xsd (EX-101.SCH) — 6KB
- vrdr-20230313_lab.xml (EX-101.LAB) — 13KB
- vrdr-20230313_cal.xml (EX-101.CAL) — 1KB
- vrdr-20230313_pre.xml (EX-101.PRE) — 8KB
- vrdr-20230313_def.xml (EX-101.DEF) — 2KB
- vrdr_8ka_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement On March 13, 2023, Verde Resources, Inc. (the "Company") and its former indirect wholly-owned subsidiary Champmark Sdn Bhd ("CSM") entered into a Settlement of Debts Agreement (the "SDA Agreement") and a two year term period Promissory Note with CSM's creditor Borneo Oil Corporation Sdn Bhd (the "Creditor") to settle in full a total of USD 675,888 of CSM's account payable to the Creditor either in cash or by the issuance of new restricted shares of the Company's common stock at a price of $0.07 per share. As set out in the SDA Agreement, the new restricted shares for settlement of the account payable to the Creditor shall be issued to the Creditor or its nominee. On August 16, 2024, the Company entered into a Supplementary Agreement to the SDA Agreement and Promissory Note with the Creditor to convert the total amount of $675,888 into shares of the Company's restricted Common Stock at the agreed conversion price of $0.07 per share on August 16, 2024.
02 Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities On August 16, 2024 the Company agreed to issue 9,655,542 shares of the Company's restricted Common Stock at the price of $0.07 per share to Borneo Oil Berhad, the appointed nominee of the Creditor, referenced in Item 1.01 above, in satisfaction of the promissory note with a total amount of $675,888. The shares were issued in reliance upon exemptions from registration pursuant to Section 4(2) of the Securities Act of 1933 (the "33 Act") and Regulation D Section 506(b) promulgated under the '33 Act.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits The Supplementary Agreement to the SDA Agreement and Promissory Note is attached hereto as Exhibit 10 . 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VERDE RESOURCES, INC. /s/ Jack Wong Jack Wong Chief Executive Officer Date: August 19, 2024 3