Business Context and Reporting Period
This Form 8-K is filed by Touchstone Mining Limited (formerly 22Nd Century Group, Inc.) for the reporting period ending June 11, 2008. The registrant is incorporated in Nevada with principal executive offices in Miami, Florida, and Vancouver, British Columbia.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes and equity transactions.
Material Changes
- Executive Departure: Effective June 9, 2008, Douglas Scheving resigned from all positions, including Director, Chief Financial Officer, Secretary, and Treasurer. The filing states there were no disagreements regarding operations or policies.
- Executive Appointment: On June 9, 2008, Nanuk Warman was appointed as Director, Chief Financial Officer, Secretary, and Treasurer. Mr. Warman holds CMA and CFA designations and has prior experience as a CFO and President of other OTCBB-listed entities.
- Equity Transactions: On June 9, 2008, 3,300,000 shares of Common Stock previously held by Mr. Scheving were returned to the treasury and cancelled. Simultaneously, 3,300,000 shares were issued to Mr. Warman in exchange for services, relying on the Section 4(2) exemption from registration.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for financial guidance, future outlook, management commentary on operations, or specific risk factors. The document serves solely to disclose the personnel changes and the associated unregistered sale of equity securities.
Investor Verification Checklist
- Verify the current status of the 3,300,000 shares issued to Nanuk Warman and confirm the Section 4(2) exemption applicability.
- Confirm the resignation of Douglas Scheving and the effective date of his departure from all corporate roles.
- Review the background and qualifications of the new CFO, Nanuk Warman, particularly his experience with OTCBB companies.
- Check for any subsequent filings regarding the company's financial condition, as this 8-K contains no financial data.