Ever since political machinations inserted themselves into the penny stock world, something that should end as pro-business political appointees retake the SEC etc,its been hard to find the logic in the penny world.
The recent WOLV pps is a case in point.
1) Becoming current as an SEC reporting company is a huge positive!!!! That's the most important thing we learn from the recent postings because an extended time non-current could result in a host of problems,which are now avoided since WOLV is now current.
2) finances of ca 200k were raised last month and more is coming to eliminate the working capital deficit
3) recent ,current and forward looking private placements (pp),as part of the debt elimination,are at a pps of .005,double the last WOLV pps trade. PP's are usually lower pps than the current trading pps.
4) elimination of the debt, including a debt to a lawyer, helps clear the way for WOLV to move forward re its current 5% indirect interest in Decision Zone and dzaudit technology, which is first moving forward in South Korea. That technology could be a key player in resolving some of the epidemic hacking etc which has taken over the world as a major tool even of governments -the new warfare.
5) Once that tech is monetized and WOLV and Dr David Chalk receive funds for the monetizing of their indirect and direct interests respectively, WOLV should have the capital to proceed with its plan of operation.
For newbies, WOLV was a mining stock focused primarily on Labrador copper mining claims and now relinquished British Columbia claims.
The price of copper has risen significantly from ca $2 to ca $3.10 last I looked,which is still high historically.
Every 10Q/10K still lists those Cache River mining claims as part of their plan of operation, though we don't hear about it otherwise because the investment capital for mining dried up ca 2010 or so,which is why WOLV, as per the 10Q's etc, looked elsewhere to raise shareholder value through other operations like the tech operations which have been at the forefront since 2013.
The Foothills Group, Doubloon's baby, is no longer listed as media for WOLV, so I don't know whether Doubloon is free to confirm the 10Q'S etc continuing claims that the copper mining is still an actual plan of operation.
You cant mine without capital.The idea was that tech was currently an easier subject matter through which to raise capital.
Once Wolv raises capital,e.g through the dzaudit tech,WOLV could (I have no inside info) revisit the Enigma plan of operation,which had been stymied due to lack of the expected investment capital.
In summation,1) the recent series of filings brought WOLV SEC current (many SEC reporting companies are now listed as pink current because of new 2014/2015 OTC rules requiring a min pps bid test of 1c and a surcharge of $10,000/yr to be listed as OTCBB. I'm sure a lot of investors or potential investors still don't know that),
2) debt is being eliminated via e.g., pp's at a pps of .005 (double the current trading pps)
3) so WOLV and Director Dr Chalk can monetize their indirect and direct dz audit interests
4) which then could reopen the door to resumption of the Enigma plan and fulfillment of the copper mining plan of operation. WOLV still retains some of the critical Cache River copper claims.
from the last 10Q:
Corporate History
Our company was incorporated in the State of Nevada on February 23, 2006 and is quoted on the OTC Pink under the symbol WOLV.
Since we began operations in 2006, the Company has been focused primarily on the exploration for and development of base and precious metal properties located in North America. In February, 2007, we acquired a right to earn a 90% interest in approximately 520 claims through a combination of an upfront cash payment of $34,000, an upfront share payment of 34,000,000 common shares of Wolverine, and by making exploration expenditure commitments totaling $600,000 over three years. From 2007 to the present, we spent approximately US$710,757 to earn our 90% interest in the Cache River Property; Shenin Resources Inc. maintains a 10% carried interest in the project.
We have not yet determined whether the Cache River Property contain mineral reserves that are economically recoverable.
Enigma Mobil Transaction
On April 14, 2015 Wolverine entered into a Share Exchange and Royalty Agreement with ENIGMAMobil Inc. (“Enigma”) and Dr. David Chalk pursuant to which Wolverine is seeking to acquire from Dr. Chalk 25% of the issued and outstanding securities of Enigma. for the purchase price of USD $3,000,000, to be paid by the issuance of 300,000,000 common shares of Wolverine at a deemed price of USD$0.01 per share. Dr. Chalk is a Director of Enigma.
The closing of the Share Exchange and Royalty Agreement is subject to Enigma completing a financing of USD$2,500,000, and to Wolverine increasing its authorized capital of common stock to allow for the issuance of the 300,000,000 consideration shares. As at the date of this 10-Q, neither the contemplated financing nor the authorized capital increase has been completed, and the Share Exchange and Royalty Agreement has not closed. However, if the agreement were to close, based on the number of the Company’s current issued and outstanding shares, Enigma would acquire 46% of the Company’s voting securities.
The Share Exchange and Royalty Agreement may be terminated if the transaction does not close by December 31, 2017, unless extended by mutual agreement of the parties. On December 31, 2017 the parties agreed to let the Share Exchange & Royalty Agreement expire to enable Wolverine to focus on its indirect interest in Decision-Zone Inc. which Wolverine acquired through a Share Purchase Agreement with Dr. David Chalk, which was announced April 19, 2016. Wolverine will no longer be pursuing an interest in Enigma.
Background on Enigma
Enigma is a private corporation incorporated in the Province of Alberta on September 6, 2013. Enigma’s operations are based in Vancouver, British Columbia. Enigma is engaged in the business of developing security applications for cyber systems focusing on the mobile smartphone markets. Under the terms of the Share Exchange and Royalty Agreement, Wolverine will also receive a royalty equal to 25% of gross revenue received by Enigma from the exploitation of Enigma’s planned Enigma™ SECURE mobile security application for the protection against unauthorized computer intrusion and fraud on wireless devices and mobile smartphones.
The Enigma™ SECURE application is not yet commercially available and remains in development. The application is built using proprietary, patent protected fifth generation programming language (5GL) and is compatible with Apple iOS, Android and Blackberry operating systems. As of the date of this 10-Q, third party testing of the application has been completed and Wolverine anticipates that the application will be available for commercial download within 10 months following completion of the USD$2,500,000 private placement contemplated by the Share Exchange and Royalty Agreement.
Enigma LOI’s
In the fall of 2013, due to ongoing stagnation in the commodities sector, our management began identifying opportunities to increase shareholder value through merger and acquisition. On September 5, 2013 Wolverine entered into a Letter of Intent with the cyber security corporation Enigma to acquire a 25% interest in Enigma for a cash payment of $10,000,000, however the transaction was not completed. On January 22, 2014, we entered into an Amended Letter of Intent with Enigma to acquire a 25% interest in Enigma for the purchase price of $5,000,000 to be paid with $3,000,000 shares of our common stock at a deemed price of $0.01 per share and $2,000,000 in cash. The LOI expired on June 30, 2014.
Our Current Business
We are an exploration stage mining company engaged in the identification, acquisition, and exploration of metals and minerals with a focus on base and precious metals. Our current operational focus is to raise sufficient funds to continue exploration activities on our property in Labrador, Canada, known as the Cache River Property. We expect to review other potential exploration projects from time to time as they are presented to us.
On April 19, 2016, Wolverine entered into a Share Purchase Agreement with our Director, David Chalk, pursuant to which we have agreed to issue in a private placement 400,000,000 shares of our common stock in consideration for one-third of the net proceeds that Mr. Chalk may realize from the sale of Mr. Chalk’s 15% equity interest in Decision-Zone Inc., a privately held cyber-security software company based in Ontario, Canada. The Agreement is subject to our Company increasing its authorized capital to allow for the issuance of the consideration shares. As of the date of this filing, the agreement has not yet closed.
Cash Requirements
There is limited historical financial information about us upon which to base an evaluation of our performance. We are in the development stage and have not generated any revenues from activities. We cannot guarantee we will be successful in our business activities. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, and possible cost overruns due to price and cost increases in services.
Over the next twelve months we intend to use any funds that we may have available to fund our Plan of Operation Not accounting for our working capital deficit of $365,981 as of November 30, 2017, we require additional funds of approximately $100,000 at a minimum to proceed with our plan of operation over the next twelve months. As we do not have the funds necessary to cover our projected operating expenses for the next twelve month period, we will be required to raise additional funds through the issuance of equity securities, through loans or through debt financing. There can be no assurance that we will be successful in raising the required capital or that actual cash requirements will not exceed our estimates. We intend to fulfill any additional cash requirement through the sale of our equity securities.
Our auditors have issued a going concern opinion for our year ended May 31, 2017. This means that there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay our bills. This is because we have not generated any revenues and no revenues are anticipated. As at November 30, 2017 we had cash in the amount of $Nil and a working capital deficiency in the amount of $365,981 As of November 30, 2017, we do not have sufficient working capital to enable us to carry out our stated plan of operation for the next twelve months.
Plan of Operation
The Plan of Operation for the next 12 months is to raise $100,000 for the Phase 1 exploration program on the Cache River Property.
The work completed to date on the Cache River Property has identified an area that could host significant copper and gold mineralization in a previously unexplored area. A program of prospecting, followed by trenching (if warranted) is recommended to field check all remaining IP anomalies prior to undertaking additional diamond drill holes. A budget estimate of $100,000 should suffice to complete the recommended prospecting and assaying of samples as well as a limited trenching program if required. This budget would also cover costs associated with the required site visit. Further diamond drilling will be dependent on results of the recommended work program.
The recent WOLV pps is a case in point.
1) Becoming current as an SEC reporting company is a huge positive!!!! That's the most important thing we learn from the recent postings because an extended time non-current could result in a host of problems,which are now avoided since WOLV is now current.
2) finances of ca 200k were raised last month and more is coming to eliminate the working capital deficit
3) recent ,current and forward looking private placements (pp),as part of the debt elimination,are at a pps of .005,double the last WOLV pps trade. PP's are usually lower pps than the current trading pps.
4) elimination of the debt, including a debt to a lawyer, helps clear the way for WOLV to move forward re its current 5% indirect interest in Decision Zone and dzaudit technology, which is first moving forward in South Korea. That technology could be a key player in resolving some of the epidemic hacking etc which has taken over the world as a major tool even of governments -the new warfare.
5) Once that tech is monetized and WOLV and Dr David Chalk receive funds for the monetizing of their indirect and direct interests respectively, WOLV should have the capital to proceed with its plan of operation.
For newbies, WOLV was a mining stock focused primarily on Labrador copper mining claims and now relinquished British Columbia claims.
The price of copper has risen significantly from ca $2 to ca $3.10 last I looked,which is still high historically.
Every 10Q/10K still lists those Cache River mining claims as part of their plan of operation, though we don't hear about it otherwise because the investment capital for mining dried up ca 2010 or so,which is why WOLV, as per the 10Q's etc, looked elsewhere to raise shareholder value through other operations like the tech operations which have been at the forefront since 2013.
The Foothills Group, Doubloon's baby, is no longer listed as media for WOLV, so I don't know whether Doubloon is free to confirm the 10Q'S etc continuing claims that the copper mining is still an actual plan of operation.
You cant mine without capital.The idea was that tech was currently an easier subject matter through which to raise capital.
Once Wolv raises capital,e.g through the dzaudit tech,WOLV could (I have no inside info) revisit the Enigma plan of operation,which had been stymied due to lack of the expected investment capital.
In summation,1) the recent series of filings brought WOLV SEC current (many SEC reporting companies are now listed as pink current because of new 2014/2015 OTC rules requiring a min pps bid test of 1c and a surcharge of $10,000/yr to be listed as OTCBB. I'm sure a lot of investors or potential investors still don't know that),
2) debt is being eliminated via e.g., pp's at a pps of .005 (double the current trading pps)
3) so WOLV and Director Dr Chalk can monetize their indirect and direct dz audit interests
4) which then could reopen the door to resumption of the Enigma plan and fulfillment of the copper mining plan of operation. WOLV still retains some of the critical Cache River copper claims.
from the last 10Q:
Corporate History
Our company was incorporated in the State of Nevada on February 23, 2006 and is quoted on the OTC Pink under the symbol WOLV.
Since we began operations in 2006, the Company has been focused primarily on the exploration for and development of base and precious metal properties located in North America. In February, 2007, we acquired a right to earn a 90% interest in approximately 520 claims through a combination of an upfront cash payment of $34,000, an upfront share payment of 34,000,000 common shares of Wolverine, and by making exploration expenditure commitments totaling $600,000 over three years. From 2007 to the present, we spent approximately US$710,757 to earn our 90% interest in the Cache River Property; Shenin Resources Inc. maintains a 10% carried interest in the project.
We have not yet determined whether the Cache River Property contain mineral reserves that are economically recoverable.
Enigma Mobil Transaction
On April 14, 2015 Wolverine entered into a Share Exchange and Royalty Agreement with ENIGMAMobil Inc. (“Enigma”) and Dr. David Chalk pursuant to which Wolverine is seeking to acquire from Dr. Chalk 25% of the issued and outstanding securities of Enigma. for the purchase price of USD $3,000,000, to be paid by the issuance of 300,000,000 common shares of Wolverine at a deemed price of USD$0.01 per share. Dr. Chalk is a Director of Enigma.
The closing of the Share Exchange and Royalty Agreement is subject to Enigma completing a financing of USD$2,500,000, and to Wolverine increasing its authorized capital of common stock to allow for the issuance of the 300,000,000 consideration shares. As at the date of this 10-Q, neither the contemplated financing nor the authorized capital increase has been completed, and the Share Exchange and Royalty Agreement has not closed. However, if the agreement were to close, based on the number of the Company’s current issued and outstanding shares, Enigma would acquire 46% of the Company’s voting securities.
The Share Exchange and Royalty Agreement may be terminated if the transaction does not close by December 31, 2017, unless extended by mutual agreement of the parties. On December 31, 2017 the parties agreed to let the Share Exchange & Royalty Agreement expire to enable Wolverine to focus on its indirect interest in Decision-Zone Inc. which Wolverine acquired through a Share Purchase Agreement with Dr. David Chalk, which was announced April 19, 2016. Wolverine will no longer be pursuing an interest in Enigma.
Background on Enigma
Enigma is a private corporation incorporated in the Province of Alberta on September 6, 2013. Enigma’s operations are based in Vancouver, British Columbia. Enigma is engaged in the business of developing security applications for cyber systems focusing on the mobile smartphone markets. Under the terms of the Share Exchange and Royalty Agreement, Wolverine will also receive a royalty equal to 25% of gross revenue received by Enigma from the exploitation of Enigma’s planned Enigma™ SECURE mobile security application for the protection against unauthorized computer intrusion and fraud on wireless devices and mobile smartphones.
The Enigma™ SECURE application is not yet commercially available and remains in development. The application is built using proprietary, patent protected fifth generation programming language (5GL) and is compatible with Apple iOS, Android and Blackberry operating systems. As of the date of this 10-Q, third party testing of the application has been completed and Wolverine anticipates that the application will be available for commercial download within 10 months following completion of the USD$2,500,000 private placement contemplated by the Share Exchange and Royalty Agreement.
Enigma LOI’s
In the fall of 2013, due to ongoing stagnation in the commodities sector, our management began identifying opportunities to increase shareholder value through merger and acquisition. On September 5, 2013 Wolverine entered into a Letter of Intent with the cyber security corporation Enigma to acquire a 25% interest in Enigma for a cash payment of $10,000,000, however the transaction was not completed. On January 22, 2014, we entered into an Amended Letter of Intent with Enigma to acquire a 25% interest in Enigma for the purchase price of $5,000,000 to be paid with $3,000,000 shares of our common stock at a deemed price of $0.01 per share and $2,000,000 in cash. The LOI expired on June 30, 2014.
Our Current Business
We are an exploration stage mining company engaged in the identification, acquisition, and exploration of metals and minerals with a focus on base and precious metals. Our current operational focus is to raise sufficient funds to continue exploration activities on our property in Labrador, Canada, known as the Cache River Property. We expect to review other potential exploration projects from time to time as they are presented to us.
On April 19, 2016, Wolverine entered into a Share Purchase Agreement with our Director, David Chalk, pursuant to which we have agreed to issue in a private placement 400,000,000 shares of our common stock in consideration for one-third of the net proceeds that Mr. Chalk may realize from the sale of Mr. Chalk’s 15% equity interest in Decision-Zone Inc., a privately held cyber-security software company based in Ontario, Canada. The Agreement is subject to our Company increasing its authorized capital to allow for the issuance of the consideration shares. As of the date of this filing, the agreement has not yet closed.
Cash Requirements
There is limited historical financial information about us upon which to base an evaluation of our performance. We are in the development stage and have not generated any revenues from activities. We cannot guarantee we will be successful in our business activities. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, and possible cost overruns due to price and cost increases in services.
Over the next twelve months we intend to use any funds that we may have available to fund our Plan of Operation Not accounting for our working capital deficit of $365,981 as of November 30, 2017, we require additional funds of approximately $100,000 at a minimum to proceed with our plan of operation over the next twelve months. As we do not have the funds necessary to cover our projected operating expenses for the next twelve month period, we will be required to raise additional funds through the issuance of equity securities, through loans or through debt financing. There can be no assurance that we will be successful in raising the required capital or that actual cash requirements will not exceed our estimates. We intend to fulfill any additional cash requirement through the sale of our equity securities.
Our auditors have issued a going concern opinion for our year ended May 31, 2017. This means that there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay our bills. This is because we have not generated any revenues and no revenues are anticipated. As at November 30, 2017 we had cash in the amount of $Nil and a working capital deficiency in the amount of $365,981 As of November 30, 2017, we do not have sufficient working capital to enable us to carry out our stated plan of operation for the next twelve months.
Plan of Operation
The Plan of Operation for the next 12 months is to raise $100,000 for the Phase 1 exploration program on the Cache River Property.
The work completed to date on the Cache River Property has identified an area that could host significant copper and gold mineralization in a previously unexplored area. A program of prospecting, followed by trenching (if warranted) is recommended to field check all remaining IP anomalies prior to undertaking additional diamond drill holes. A budget estimate of $100,000 should suffice to complete the recommended prospecting and assaying of samples as well as a limited trenching program if required. This budget would also cover costs associated with the required site visit. Further diamond drilling will be dependent on results of the recommended work program.
