Ameriwest Minerals Corp (AWSS) news stock charts
Ameriwest Minerals Corp (AWSS/AWSS.OB) Investment Summary:
CoConnect, Inc. does not have significant operations. The company seeks to acquire assets or shares of an operating entity. Previously, it focused on the exploration of VoIP technology. The company is based in Carlsbad, California.AMERIWEST MINERALS CORP (AWSS:OTC Bulletin Board Market)
Snapshot of AMERIWEST MINERALS CORP (AWSS)
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AWSS Does Not Pay Dividends
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Key developments for AMERIWEST MINERALS CORP (AWSS)
CoConnect, Inc. filed on February 17, 2010 with the United States Securities and Exchange Commission, certain convertible promissory notes issued to several note holders in the total principal amount of $84,057 went into default due to nonpayment. Following default, the company received demands from the Note holders for the repayment of all principal and interest due thereunder. Considering the current financial condition of the company, including the unavailability of adequate cash or assets to resolve the amounts due and payable under the Notes, the company believes the default under the Notes may have a material adverse effect on the company's financial stability and its ability to continue as a going concern. On February 24, 2010, following discussions with the Note holders, the Note holders agreed to waive the default and payment of all principal and interest due and payable under the Notes. Pursuant to the terms of such waiver, (i) the default interest rate under the Notes was to remain in effect and accrue until full repayment of the Notes, and (ii) the maturity date of the Notes was extended to March 10, 2010. The company is currently using its best efforts to explore options available related to the repayment and/or retirement of the Notes.
CoConnect, Inc. announced that it has amended articles of incorporation. Pursuant to the NRS, the Board of Directors of the corporation hereby file this Certificate of Amendment to the Articles of Incorporation and amends Article Three as follows: RESOLVED, that the Articles of Incorporation of this corporation be amended as follows: The aggregate number of shares which this corporation shall have authority to issue is 10,000,000,000 shares, consisting of 9,999,000,000 shares of common stock, par value $0.001 per share and 1,000,000 shares of preferred stock, par value $0.001 per share issuable in one or more series as herein after provided. A description of the classes of shares and a statement of the number of shares in each class and the relative rights, voting power, and preferences granted to, and restrictions imposed upon, the shares of each class are as follows: Common Stock. Each outstanding share of Common Stock of the Corporation shall be entitled to one vote and each fractional share of Common Stock shall be entitled to a corresponding fractional vote on each matter submitted to a vote of the shareholders. A majority of all shares of stock, both Common Stock and Preferred Stock, entitled to vote, represented in person or by proxy, shall constitute a quorum at a meeting of shareholders. Except as otherwise provided by these Articles of Incorporation or the NRS, if a quorum is present, the affirmative vote of a majority of the shares represented at the meeting and entitled to vote on the subject matter shall be the act of the shareholders. Preferred Stock: Shares of Preferred Stock may be issued in any number of series from time to time by the Board of Directors, and the Board of Directors, pursuant to the Corporation's Articles of Incorporation and Bylaws, is expressly authorized to fix by resolution or resolutions the designations and the voting powers, preferences, rights and qualifications, limitations or restrictions thereof, of the shares of each series of Preferred Stock. The board also confirmed and ratified the prior appointment of Mr. Brad M. Bingham as the company's Interim Chairman of the Board.
In July of 2009, CoConnect Inc. announced its accountant Pollard-Kelley Auditing Services Inc., resigned. Such decision was the sole decision of the auditor and such resignation was not recommended or approved of by the board of directors or any audit or similar committee. On or about July 16, 2009, the company retained Chang G. Park, CPA to review all interim period financial statements going forward and audit financial statements for the upcoming year ending December 31, 2009. Such change in accountant was approved by the Company's board of directors.
Ameriwest Minerals Corp financial resources
AWSS Competitors
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| No competitor information is available for AWSS. | |||
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Industry Analysis
| Valuation | AWSS | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | -- | Not Meaningful |
| Price/Book | NM | Not Meaningful |
| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | -- | Not Meaningful |
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AWSS transactions
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Private Placement
December 14, 2009 |
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