Business Context and Reporting Period
This Form 8-K is filed by Oroplata Resources, Inc. (not American Battery Technology Co.) with a report date of May 31, 2016. The filing discloses a change in control of the registrant, a mining exploration company based in Truckee, California, with operations in the Dominican Republic.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, or debt levels. The only financial figure disclosed relates to the change in control transaction:
- Transaction Price: $25,000 paid for 25,000,000 shares.
- Outstanding Shares: 40,000,000 shares of common stock issued and outstanding as of the report date.
Material Changes
The primary material change reported is the transfer of control of the company:
- Acquisition of Control: Craig Alford acquired 25,000,000 shares (62.5% of outstanding stock) from former principal shareholder Ruben Ricardo Vasquez.
- Executive Leadership Change: Ruben Ricardo Vasquez resigned from all officer positions (President, CEO, CFO, Treasurer, Secretary) effective May 31, 2016. Craig Alford was appointed to all these positions on the same date.
- Board Change: Effective June 13, 2016, Mr. Vasquez resigned as the sole director, and Mr. Alford was appointed as the sole director.
Outlook, Risks, and Management Commentary
Management Commentary: The filing states that Mr. Vasquez's resignations were not the result of any disagreement with the Company regarding operations, policies, or practices. The new CEO, Craig Alford, brings 30 years of global mining experience, including senior roles at Zijin Mining Group, China Railway, and Teck Mining Ltd. His background includes involvement in major investments totaling over $800 million in projects such as the Kamoa Copper Project and Barrick Gold Porgera mine.
Risks and Contingencies: The filing does not explicitly list new risks or contingencies beyond the inherent risks associated with a change in control and the company's exploration stage status.
Investor Verification Checklist
- Verify the discrepancy between the requested company name ("American Battery Technology Co") and the actual registrant ("Oroplata Resources, Inc.").
- Confirm the valuation implied by the $25,000 purchase price for 62.5% of the company.
- Review the attached Stock Purchase Agreement (Exhibit 10.1) for any restrictive covenants or future obligations.
- Assess the strategic fit of Craig Alford's mining background with Oroplata Resources' current projects in the Dominican Republic.
- Check for subsequent filings regarding the June 13, 2016 board appointment.