TRILLIANT EXPLORATN Aktie ..buran und MfG
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Datum Erster Hoch Tief Schluss Stücke Volumen
14.10.13 0,0141 0,015 0,0141 0,015 $ 15.100 218
GrB
14.10.13 0,0141 0,015 0,0141 0,015 $ 15.100 218
GrB
Prev Close: 0.02
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Avg Vol (3m): 610,462
Market Cap: 2.87M
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..finance.yahoo.com/q?s=TTXP&ql=1
Open: N/A
Bid: N/A
Ask: N/A
1y Target Est: N/A
Beta: N/A
Next Earnings Date: N/A
Day's Range: N/A - N/A
52wk Range: 0.01 - 0.35
Volume: 0
Avg Vol (3m): 610,462
Market Cap: 2.87M
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EPS (ttm): -0.06
Div & Yield: N/A (N/A)
..finance.yahoo.com/q?s=TTXP&ql=1
in the acquisition, evaluation, exploration, and advancement of mining projects. The company was formerly known as Project Development Pacific, Inc. and changed its name to Trilliant Exploration Corporation in November 2007. Trilliant Exploration Corporation was incorporated in 2003 and is based in New York, New York.
finance.yahoo.com/q/pr?s=TTXP
finance.yahoo.com/q/pr?s=TTXP
of strategic mineral acquisitions including Copper and well positioned to capture the next wave in mineral exploration, Lithium and Rare Earth metals.
Trilliant Exploration is a US based, high growth mining company focused on adding value through successful exploration, project development, efficient operations, and opportunistic acquisitions. Maintaining a low risk profile through project diversification, astute financial management and operating in secure jurisdictions are key priorities for Trilliant Exploration窶冱 Management team.
Trilliant Exploration intends be an integral link in developing mining projects that take advantage of strategic resources across the periodic spectrum that are engines for growth and economically viable.
www.trilliant-exploration.com/
Trilliant Exploration is a US based, high growth mining company focused on adding value through successful exploration, project development, efficient operations, and opportunistic acquisitions. Maintaining a low risk profile through project diversification, astute financial management and operating in secure jurisdictions are key priorities for Trilliant Exploration窶冱 Management team.
Trilliant Exploration intends be an integral link in developing mining projects that take advantage of strategic resources across the periodic spectrum that are engines for growth and economically viable.
www.trilliant-exploration.com/
Lithium is not traded publicly; instead it’s sold directly to end users for a negotiated price per ton or pound of Lithium carbonate (Li2CO3). High demand and low supply has recently caused reported paid end user prices to reach US $6,600.00 ton.There’s one unit of lithium in a cell phone battery, 3,000 units in a hybrid car and 7,000 units in an electric car; the numbers work out to 9 to 30 kilograms of lithium oxide per car battery.
The Future of Lithium
Lithium will soon begin to dominate the markets and politics of the 21st Century through new global supply chains and trade agreements between resource providers and battery manufacturers.
Deposits of lithium are found in South America throughout the Andes mountain chain. Chile is currently the leading lithium metal producer, followed by Argentina and nearly 85% of the worlds known Lithium reserves are found in this region.
In the latter years of the 20th century lithium has become important as an anode material. Used in lithium-ion batteries because of its high electrochemical potential, a typical cell can generate approximately 3 volts, compared with 2.1 volts for lead/acid or 1.5 volts for zinc cells. Because of its low atomic mass, it also has a high charge— and power-to-weight ratio.
Lithium-ion battery
A Lithium-ion battery is a type of rechargeable battery in which lithium ions move from the anode to cathode during discharge, and from the cathode to the anode when charged. Different types of lithium-ion batteries use different chemistry and have different performance, cost, and safety characteristics. Unlike primary lithium batteries, lithium-ion cells use an intercalated lithium compound as the electrode material instead of metallic lithium.
Lithium ion batteries are common in consumer electronics. They are one of the most popular types of battery for portable electronics, with one of the best energy-to-weight ratios, no memory effect, and a slow loss of charge when not in use. In addition to uses for consumer electronics, lithium-ion batteries are growing in popularity for defense, automotive, and aerospace applications due to their high energy density.
www.trilliant-exploration.com/investors.php
The Future of Lithium
Lithium will soon begin to dominate the markets and politics of the 21st Century through new global supply chains and trade agreements between resource providers and battery manufacturers.
Deposits of lithium are found in South America throughout the Andes mountain chain. Chile is currently the leading lithium metal producer, followed by Argentina and nearly 85% of the worlds known Lithium reserves are found in this region.
In the latter years of the 20th century lithium has become important as an anode material. Used in lithium-ion batteries because of its high electrochemical potential, a typical cell can generate approximately 3 volts, compared with 2.1 volts for lead/acid or 1.5 volts for zinc cells. Because of its low atomic mass, it also has a high charge— and power-to-weight ratio.
Lithium-ion battery
A Lithium-ion battery is a type of rechargeable battery in which lithium ions move from the anode to cathode during discharge, and from the cathode to the anode when charged. Different types of lithium-ion batteries use different chemistry and have different performance, cost, and safety characteristics. Unlike primary lithium batteries, lithium-ion cells use an intercalated lithium compound as the electrode material instead of metallic lithium.
Lithium ion batteries are common in consumer electronics. They are one of the most popular types of battery for portable electronics, with one of the best energy-to-weight ratios, no memory effect, and a slow loss of charge when not in use. In addition to uses for consumer electronics, lithium-ion batteries are growing in popularity for defense, automotive, and aerospace applications due to their high energy density.
www.trilliant-exploration.com/investors.php
According to a recent study from geologists at Yale University, new discoveries of copper have raised global reserves by just 0.63 per cent a year since 1925 but usage (final demand) has risen at 3.3 per cent per annum. And now demand is growing strongly on the back of phenomenal growth in China, India and other emerging market economies. Stocks of copper have been in sharp decline in the last few years and it is this scarcity that has driven prices higher as commodities traders out-bid each other as they scramble for available supplies. Supply has fallen behind the growth of demand and prices can move in only one direction when this happens!
The world supply of and demand for copper
Most copper ore is mined or extracted as copper sulfides from large open pit mines in copper porphyry deposits that contain 0.4 to 1.0 percent copper. Over 40 per cent of world copper supply comes from North and South America; 31 per cent from Asia and 21 per cent from Europe. Chile is the world’s biggest supplier of copper (it provided 35 per cent of the total in 2011 with Indonesia and the USA each contributing 8 per cent).
Copper – an example of derived demand
Because copper is malleable and ductile, there is a huge industrial demand for copper. Like most metals the demand for it is derived in part from the final demand for products that use copper as an important component or raw material. Nearly 50 per cent of the demand for copper comes from the construction industry, and 17 per cent is from the electrical sector. Copper is also used extensively in heavy and light engineering and in transport industries. From copper wire to copper plumbing, from the use of copper in integrated circuits to its value as a corrosive resistant material in shipbuilding and as a component of coins, cutlery and to colour glass, copper has a huge array of possible industrial uses.
www.trilliant-exploration.com/investors.php
The world supply of and demand for copper
Most copper ore is mined or extracted as copper sulfides from large open pit mines in copper porphyry deposits that contain 0.4 to 1.0 percent copper. Over 40 per cent of world copper supply comes from North and South America; 31 per cent from Asia and 21 per cent from Europe. Chile is the world’s biggest supplier of copper (it provided 35 per cent of the total in 2011 with Indonesia and the USA each contributing 8 per cent).
Copper – an example of derived demand
Because copper is malleable and ductile, there is a huge industrial demand for copper. Like most metals the demand for it is derived in part from the final demand for products that use copper as an important component or raw material. Nearly 50 per cent of the demand for copper comes from the construction industry, and 17 per cent is from the electrical sector. Copper is also used extensively in heavy and light engineering and in transport industries. From copper wire to copper plumbing, from the use of copper in integrated circuits to its value as a corrosive resistant material in shipbuilding and as a component of coins, cutlery and to colour glass, copper has a huge array of possible industrial uses.
www.trilliant-exploration.com/investors.php
--------------------------------------------------
3-Oct-2013
Non-Reliance on Previous Financials, Audits or Interim Review, Other E
Item 4.02 Non-Reliance on Previously Issued Financial Statements
On September 30, 2013, Trilliant Exploration Corp's (the "Company") conclusively determined that the Company's previously issued unaudited financial statements for the year ended December 31, 2012 included in the Company's Annual Report on Form 10-K and the unaudited financial statements for the quarterly periods ended March 31, June 30 and September 30, 2012, included in the Company's Quarterly Reports on Form 10-Q (the "Previously Issued Financial Statements") filed with the United States Securities and Exchange Commission (the "SEC") contain certain errors that materially impact the Previously Issued Financial Statements. Accordingly, these Previously Issued Financial Statements and related financial information should no longer be relied upon.
During the year ended December 31, 2012, the Company accounted for shares of its common stock issued to third parties as services rendered and payment of a deposit to acquire an asset. The Company determined the shares of common stock while issued, were held by the Company's sole officer and Director and not issued to the third parties. In addition, during the year ended December 31, 2012 the Company issued and disbursed shares to a holder of its previously issued and outstanding debt in exchange for unpaid principal and interest and accounted for the issuance as a reduction in the unpaid debt. The Company determined shares issued were not delivered to the holder of the debt and accordingly, the debt should not have been reduced.
The Company intends to file amendments to each of its 2012 Form 10-K, Q1 2012 Form 10-Q and Q2 2012 Form 10-Q and Q3 2012 Form 10-Q to correct the errors as soon as reasonably practicable.
The Company has discussed this matter with the Company's independent registered public accounting firm
Item 8.01 Other Events
The Company through a third-party had entered into an agreement to convert certain debt instruments pursuant to the terms of a convertible bond debenture for the purpose of reducing or eliminating the debt to the bond holder. The Company issued free trading shares of appropriately aged debt to eliminate $200,000 of the debt held by the bond holder.
As a matter of course the Company's independent auditor sought to confirm the debt with the debenture holder. The debenture holder in providing its confirmation did not confirm the above described transaction, and alleges that the debenture has not been reduced or eliminated.
The Company has retained legal counsel to ascertain what action is available to it to recover the shares issued to the third-party engaged to insure the reduction of the bond holder's debt and/or any monies collected.
The Company has amended its financial records to record the effects of the issuance of stock for the stated services as an expense on its Statement of Operations at their fair market value, which is currently under review by its internal auditors. See Item 4.02 above.
biz.yahoo.com/e/131003/ttxp8-k.html
3-Oct-2013
Non-Reliance on Previous Financials, Audits or Interim Review, Other E
Item 4.02 Non-Reliance on Previously Issued Financial Statements
On September 30, 2013, Trilliant Exploration Corp's (the "Company") conclusively determined that the Company's previously issued unaudited financial statements for the year ended December 31, 2012 included in the Company's Annual Report on Form 10-K and the unaudited financial statements for the quarterly periods ended March 31, June 30 and September 30, 2012, included in the Company's Quarterly Reports on Form 10-Q (the "Previously Issued Financial Statements") filed with the United States Securities and Exchange Commission (the "SEC") contain certain errors that materially impact the Previously Issued Financial Statements. Accordingly, these Previously Issued Financial Statements and related financial information should no longer be relied upon.
During the year ended December 31, 2012, the Company accounted for shares of its common stock issued to third parties as services rendered and payment of a deposit to acquire an asset. The Company determined the shares of common stock while issued, were held by the Company's sole officer and Director and not issued to the third parties. In addition, during the year ended December 31, 2012 the Company issued and disbursed shares to a holder of its previously issued and outstanding debt in exchange for unpaid principal and interest and accounted for the issuance as a reduction in the unpaid debt. The Company determined shares issued were not delivered to the holder of the debt and accordingly, the debt should not have been reduced.
The Company intends to file amendments to each of its 2012 Form 10-K, Q1 2012 Form 10-Q and Q2 2012 Form 10-Q and Q3 2012 Form 10-Q to correct the errors as soon as reasonably practicable.
The Company has discussed this matter with the Company's independent registered public accounting firm
Item 8.01 Other Events
The Company through a third-party had entered into an agreement to convert certain debt instruments pursuant to the terms of a convertible bond debenture for the purpose of reducing or eliminating the debt to the bond holder. The Company issued free trading shares of appropriately aged debt to eliminate $200,000 of the debt held by the bond holder.
As a matter of course the Company's independent auditor sought to confirm the debt with the debenture holder. The debenture holder in providing its confirmation did not confirm the above described transaction, and alleges that the debenture has not been reduced or eliminated.
The Company has retained legal counsel to ascertain what action is available to it to recover the shares issued to the third-party engaged to insure the reduction of the bond holder's debt and/or any monies collected.
The Company has amended its financial records to record the effects of the issuance of stock for the stated services as an expense on its Statement of Operations at their fair market value, which is currently under review by its internal auditors. See Item 4.02 above.
biz.yahoo.com/e/131003/ttxp8-k.html
Zeit Kurs Stück
17:07:21 0,015 $ 11.000
15:31:44 0,015 $ 27.000
____________________
GRATULATION
17:07:21 0,015 $ 11.000
15:31:44 0,015 $ 27.000
____________________
GRATULATION
Zeit Kurs Stück
19:54:19 0,0148 $ 600.000
19:53:37 0,0148 $ 900.000
19:48:33 0,015 $ 8.000
19:40:22 0,015 $ 1.660.000
18:45:12 0,016 $ 25.000
18:29:04 0,016 $ 100.000
16:54:01 0,015 $ 330.000
16:45:56 0,015 $ 70.000
16:38:23 0,015 $ 25.000
16:37:02 0,015 $ 10.000
GrB
19:54:19 0,0148 $ 600.000
19:53:37 0,0148 $ 900.000
19:48:33 0,015 $ 8.000
19:40:22 0,015 $ 1.660.000
18:45:12 0,016 $ 25.000
18:29:04 0,016 $ 100.000
16:54:01 0,015 $ 330.000
16:45:56 0,015 $ 70.000
16:38:23 0,015 $ 25.000
16:37:02 0,015 $ 10.000
GrB
RTP -1,33 EK 0,015 $ last 600.000 full 3.728.000 peak 0,016 ,GrB
Zeit Kurs Stück
20:19:26 0,0141 $ 53.000
20:19:00 0,0143 $ 70.000
20:18:55 0,0143 $ 27.000
20:18:49 0,0144 $ 50.000
17:00:09 0,0143 $ 10.000
buran
20:19:26 0,0141 $ 53.000
20:19:00 0,0143 $ 70.000
20:18:55 0,0143 $ 27.000
20:18:49 0,0144 $ 50.000
17:00:09 0,0143 $ 10.000
buran
Datum Erster Hoch Tief Schluss Stücke Volumen
23.10.13 0,0143 0,0144 0,0141 0,0141 $ 210.000 2.997
GrB
23.10.13 0,0143 0,0144 0,0141 0,0141 $ 210.000 2.997
GrB
::::::::::::::: 0,0177 $ +25,53% +0,0036 $ In Euro: 0,0128 € | Nasdaq OTC Other ,GrB
Zeit Kurs Stück
19:56:08 0,0177 $ 3.000
15:44:25 0,0179 $ 2.100
15:44:12 0,0179 $ 5.000
15:43:55 0,0145 $ 175.000
15:30:39 0,014 $ 39.000
15:30:17 0,0141 $ 10.000
buran und MfG
19:56:08 0,0177 $ 3.000
15:44:25 0,0179 $ 2.100
15:44:12 0,0179 $ 5.000
15:43:55 0,0145 $ 175.000
15:30:39 0,014 $ 39.000
15:30:17 0,0141 $ 10.000
buran und MfG
Zeit Kurs Stück
16:45:32 0,0177 $ 2.000
15:30:15 0,014 $ 1.000
..zwei schick feine KOs sind in's TRILLIANT EXPLORATN Börsen Ticker Lampen Parkett Land zu später Abendstund ..und das freut uns allen sehr ..denn die meisten gehen hier über's weite Tickermeer ..und von Handelstag zu Börsentag werden die Handelsleute global immer mehr
............::::: AaaaaHOI
buran & Der Klabautermann,Die Börsen Seefahrers
16:45:32 0,0177 $ 2.000
15:30:15 0,014 $ 1.000
..zwei schick feine KOs sind in's TRILLIANT EXPLORATN Börsen Ticker Lampen Parkett Land zu später Abendstund ..und das freut uns allen sehr ..denn die meisten gehen hier über's weite Tickermeer ..und von Handelstag zu Börsentag werden die Handelsleute global immer mehr
............::::: AaaaaHOI
buran & Der Klabautermann,Die Börsen Seefahrers
Zeit Kurs Stück
20:30:03 0,0175 $ 2.500
20:18:14 0,0175 $ 250
18:29:45 0,014 $ 52.600 <<< die hier meine ich GRATULATION
18:27:38 0,0143 $ 5.000
18:27:38 0,014 $ 5.000
18:27:30 0,0143 $ 25.000
17:00:08 0,0175 $ 1.000
16:58:05 0,0175 $ 15.000
16:54:07 0,015 $ 10.000
16:53:45 0,0144 $ 25.000
16:02:20 0,0144 $ 15.000
16:02:15 0,015 $ 15.000
14:30:12 0,014 $ 10.000
Kosmonova buran
20:30:03 0,0175 $ 2.500
20:18:14 0,0175 $ 250
18:29:45 0,014 $ 52.600 <<< die hier meine ich GRATULATION
18:27:38 0,0143 $ 5.000
18:27:38 0,014 $ 5.000
18:27:30 0,0143 $ 25.000
17:00:08 0,0175 $ 1.000
16:58:05 0,0175 $ 15.000
16:54:07 0,015 $ 10.000
16:53:45 0,0144 $ 25.000
16:02:20 0,0144 $ 15.000
16:02:15 0,015 $ 15.000
14:30:12 0,014 $ 10.000
Kosmonova buran
Datum Erster Hoch Tief Schluss Stücke Volumen
04.11.13 0,0175 0,0175§0,0131 0,0175 $ 20.484 305
..wenn Du annem herrlich dunklen blauen Sommerhimmel voller Regen ..einen wundervollen Farben Regenbogen siehst ..dann liegt dort wo der Regenbogen auf die Erde trifft eine Truhe voller Gold ..aber lauf nicht hin ..bleib hier ..bei TRILLIANT EXPLORATN
Alice & buran,Das Börsen Regenbogen Wunderland
04.11.13 0,0175 0,0175§0,0131 0,0175 $ 20.484 305
..wenn Du annem herrlich dunklen blauen Sommerhimmel voller Regen ..einen wundervollen Farben Regenbogen siehst ..dann liegt dort wo der Regenbogen auf die Erde trifft eine Truhe voller Gold ..aber lauf nicht hin ..bleib hier ..bei TRILLIANT EXPLORATN
Alice & buran,Das Börsen Regenbogen Wunderland
Datum Erster Hoch Tief Schluss Stücke Volumen
05.11.13 0,0145 0,0173§0,0132 0,016 $ 2.766.316 38.185
GrB
05.11.13 0,0145 0,0173§0,0132 0,016 $ 2.766.316 38.185
GrB
of strategic mineral acquisitions including Copper and well positioned to capture the next wave in mineral exploration, Lithium and Rare Earth metals.
Trilliant Exploration is a US based, high growth mining company focused on adding value through successful exploration, project development, efficient operations, and opportunistic acquisitions. Maintaining a low risk profile through project diversification, astute financial management and operating in secure jurisdictions are key priorities for Trilliant Exploration窶冱 Management team.
Trilliant Exploration intends be an integral link in developing mining projects that take advantage of strategic resources across the periodic spectrum that are engines for growth and economically viable.
www.trilliant-exploration.com/
Trilliant Exploration is a US based, high growth mining company focused on adding value through successful exploration, project development, efficient operations, and opportunistic acquisitions. Maintaining a low risk profile through project diversification, astute financial management and operating in secure jurisdictions are key priorities for Trilliant Exploration窶冱 Management team.
Trilliant Exploration intends be an integral link in developing mining projects that take advantage of strategic resources across the periodic spectrum that are engines for growth and economically viable.
www.trilliant-exploration.com/
To be a fully integrated mining company by finding, acquiring, developing and producing quality reserves in a safe, profitable and socially responsible manner.
Trilliant’s Values
As we conduct our business around the world, we have always been guided by our commitment to responsible behavior. In practice, this translates into bringing long-term benefits to the communities where we operate, and fostering a culture of excellence and collaboration among all of our stakeholders.
Behave Like an Owner
We accept accountability for our actions and results. We treat the Company’s assets as our own. We are entrepreneurial and look for opportunities to grow our business. We always act with integrity, operating within the letter and spirit of the law no matter where we are.
Deliver Results
We work safely at all times. We respect our colleagues and those we interact with outside our organization. We listen to others for understanding and we ask for help. We build trust and celebrate our successes. We help others improve their effectiveness. We promote confidence and trust in each other’s capabilities.
Be a Team Player
We have a clear vision of where we’re going and the plan to get there. We focus our resources to achieve our objectives. We pay attention to detail and keep our commitments. We deliver results.
www.trilliant-exploration.com/corporate-responsibility.php
Trilliant’s Values
As we conduct our business around the world, we have always been guided by our commitment to responsible behavior. In practice, this translates into bringing long-term benefits to the communities where we operate, and fostering a culture of excellence and collaboration among all of our stakeholders.
Behave Like an Owner
We accept accountability for our actions and results. We treat the Company’s assets as our own. We are entrepreneurial and look for opportunities to grow our business. We always act with integrity, operating within the letter and spirit of the law no matter where we are.
Deliver Results
We work safely at all times. We respect our colleagues and those we interact with outside our organization. We listen to others for understanding and we ask for help. We build trust and celebrate our successes. We help others improve their effectiveness. We promote confidence and trust in each other’s capabilities.
Be a Team Player
We have a clear vision of where we’re going and the plan to get there. We focus our resources to achieve our objectives. We pay attention to detail and keep our commitments. We deliver results.
www.trilliant-exploration.com/corporate-responsibility.php
-Other OTC
0.02 Down 0.00(0.63%) Nov 6, 2:43PM EST
finance.yahoo.com/q?s=TTXP
0.02 Down 0.00(0.63%) Nov 6, 2:43PM EST
finance.yahoo.com/q?s=TTXP
Current Structure
NEW YORK, NY--(Marketwired - Jul 23, 2013) - Trilliant Exploration (OTCQB: TTXP) announced today that the company is recapitalizing its current share structure by depositing ninety-four million shares (94,000,000) shares back into Treasury.
"This is the first step of many to come quickly to increase shareholder value and to set the company ahead for focusing on its core business," said Eric Radtke, President of Trilliant Exploration Corporation. "The company had allocated said shares for financings and for acquisitions that no longer are relevant to the corporation; however this does not affect our Copper Island transaction that we are fully committed to. We expect through the third quarter to complete initial testing and drilling phases with Copper Island and we expect to have cash reserves to back up all our plans," he added.
Trilliant Exploration's Copper Island Mines Ltd. Project and its rights and claims are located 15km NW of Campbell River, British Columbia. Copper Island Mines Ltd. is the operator of a 3000 hectare property which is known for high grade chalcocite mineralization. The area has been under regular development and small scale production since 1915. The area contains one of the highest densities of copper prospects in British Columbia and is rated high for mineralization by the BCGS (British Columbia Geological Survey). Initial exploration on the Property was conducted by Dodge Copper in 1954 when 145 percussion holes were drilled outlining the Pomeroy areas. Exploration in the 1970s by Prince Stewart Mines and Quadra Mining resulted in a historic reserve estimate of 3.5 metric tons grading 2% copper. Exploration in the 1990s resulted in a historical resource estimate from all occurrences of 5.3Mt grading 1.98% copper, and is used for historical reference purposes only.
About Trilliant Exploration (OTCQB: TTXP) www.trilliant-exploration.com
Trilliant Exploration is focused on a variety of strategic mineral acquisitions including Copper and well positioned to capture the next wave in mineral exploration, Lithium and Rare Earth metals. Trilliant Exploration is a US based, high growth mining company focused on adding value through successful exploration, project development, efficient operations, and opportunistic acquisitions. Maintaining a low risk profile through project diversification, astute financial management and operating in secure jurisdictions are key priorities for Trilliant Exploration's Management team.
Forward-Looking Statements
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Contact:
Mr. Mark Evans
Phone: (212) 203-0310
Email: info@trilliant-exploration.com
Web: www.trilliant-exploration.com
finance.yahoo.com/news/...ize-current-structure-130000981.html
NEW YORK, NY--(Marketwired - Jul 23, 2013) - Trilliant Exploration (OTCQB: TTXP) announced today that the company is recapitalizing its current share structure by depositing ninety-four million shares (94,000,000) shares back into Treasury.
"This is the first step of many to come quickly to increase shareholder value and to set the company ahead for focusing on its core business," said Eric Radtke, President of Trilliant Exploration Corporation. "The company had allocated said shares for financings and for acquisitions that no longer are relevant to the corporation; however this does not affect our Copper Island transaction that we are fully committed to. We expect through the third quarter to complete initial testing and drilling phases with Copper Island and we expect to have cash reserves to back up all our plans," he added.
Trilliant Exploration's Copper Island Mines Ltd. Project and its rights and claims are located 15km NW of Campbell River, British Columbia. Copper Island Mines Ltd. is the operator of a 3000 hectare property which is known for high grade chalcocite mineralization. The area has been under regular development and small scale production since 1915. The area contains one of the highest densities of copper prospects in British Columbia and is rated high for mineralization by the BCGS (British Columbia Geological Survey). Initial exploration on the Property was conducted by Dodge Copper in 1954 when 145 percussion holes were drilled outlining the Pomeroy areas. Exploration in the 1970s by Prince Stewart Mines and Quadra Mining resulted in a historic reserve estimate of 3.5 metric tons grading 2% copper. Exploration in the 1990s resulted in a historical resource estimate from all occurrences of 5.3Mt grading 1.98% copper, and is used for historical reference purposes only.
About Trilliant Exploration (OTCQB: TTXP) www.trilliant-exploration.com
Trilliant Exploration is focused on a variety of strategic mineral acquisitions including Copper and well positioned to capture the next wave in mineral exploration, Lithium and Rare Earth metals. Trilliant Exploration is a US based, high growth mining company focused on adding value through successful exploration, project development, efficient operations, and opportunistic acquisitions. Maintaining a low risk profile through project diversification, astute financial management and operating in secure jurisdictions are key priorities for Trilliant Exploration's Management team.
Forward-Looking Statements
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Contact:
Mr. Mark Evans
Phone: (212) 203-0310
Email: info@trilliant-exploration.com
Web: www.trilliant-exploration.com
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16-Aug-2013
Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Trilliant Exploration Corporation was incorporated under the laws of the State of Nevada on December 29, 2003 under the name Project Development Pacific Inc. We were previously engaged in the business of assisting Canadian citizens to access health care services from private providers. On November 26, 2007, we changed our name to Trilliant Exploration Corporation with a business purpose to acquire and develop mineral properties. During 2007, we began acquiring interests in mining properties.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Pre-Exploration Stage Company
The Company is considered to be in the pre-exploration stage as defined in ASC
915 "Accounting and Reporting by Development Stage Enterprises" as interpreted by the Securities and Exchange Commission for mining companies in Industry Guide
7. The Company is devoting substantially all of its efforts to the execution of its business plan.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Significant estimates that may change in the near future include value of goodwill, impairment of long-lived assets acquired, and value of investments.
Cash and Cash Equivalents
Cash and cash equivalents consists principally of currency on hand, demand deposits at commercial banks, and liquid investment funds having a maturity of three months or less at the time of purchase. The Company had $87 and $60 in cash and cash equivalents as of June 30, 2013 and March 31, 2013, respectively.
Revenue Recognition
The Company will follow the guidance of ASC Topic 605, formerly, SAB 104 for revenue recognition. In general, the Company will record revenue when persuasive evidence of an arrangement exists, services have been rendered, the sales price to the customer is fixed or determinable, and collectability is reasonably assured. Revenues from services are recognized when the services are performed, evidence of an arrangement exists, the fee is fixed and determinable and collectability is probable. In circumstances when these criteria are not met, revenue recognition is deferred until resolution occurs.
Mineral Acquisition and Exploration Costs
Mineral property interests include optioned and acquired mineral development and exploration stage properties. The amount capitalized related to a mineral property interest represents its fair value at the time it was optioned or acquired, either as an individual asset or as a part of a business combination. The value of such assets is primarily driven by the nature and amount of mineralized material believed to be contained in such properties. Exploration costs are expensed as incurred and development costs are capitalized if proven and probable reserves exist and the property is a commercially minable property. Mine development costs incurred either to develop new ore deposits, expand the capacity of operating mines, or to develop mine areas substantially in advance of current production are capitalized. Costs incurred to maintain assets on a standby basis are charged to operations. Costs of abandoned projects are charged to operations upon abandonment. The Company evaluates, at least quarterly, the carrying value of capitalized mineral interests costs and related property, plant and equipment costs, if any, to determine if these costs are in excess of their net realizable value and if a permanent impairment needs to be recorded. The periodic evaluation of carrying value of capitalized costs and any related property, plant and equipment costs are based upon expected future cash flows and/or estimated salvage value.
Property, Plant, and Equipment
Property and equipment are stated at cost. Depreciation and amortization are determined using the straight-line method over estimated useful lives of the assets. All property, plant, and equipment were disposed of and any gains and losses on the disposal are included in discontinued operations as disclosed in Note 10. As of September 30, 2012, the Company held no property, plant or equipment.
Net Income or (Loss) Per Share of Common Stock
Basic and diluted loss per common share is based upon the weighted average number of common shares outstanding during the period computed under the provisions of Accounting Standards Codification subtopic 260-10, Earnings per Share ("ASC 260-10"). For the three month period the weighted average number of shares issued and outstanding is 152,819,187 for the period ended March 31, 2013 and 39,405,131 for the period ended December 31, 2012.
Goodwill and Other Intangibles
As of June 30, 2013, the Company held no Goodwill. The Company possesses no other intangible assets.
Recently Issued Accounting Pronouncements
Management does not believe that any recently issued, but not yet effective accounting standards, if adopted, will have a material effect on our financial statements
Income Taxes
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period enacted. A valuation allowance is provided when it is more likely than not that a portion or all of a deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the reversal of deferred tax liabilities during the period in which related temporary differences become deductible. The benefit of tax positions taken or expected to be taken in the Company's income tax returns are recognized in the consolidated financial statements if such positions are more likely than not of being sustained.
In accordance with 740-10, the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting this standard, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority.
Derivative Liabilities
The Company accounts for its embedded conversion features in its convertible debentures in accordance ASC 815-10, "Derivatives and Hedging", which requires a periodic valuation of their fair value and a corresponding recognition of liabilities associated with such derivatives, and ASC 815-40, "Contracts in Entity's Own Equity". The recognition of derivative liabilities related to the issuance of convertible debt is applied first to the proceeds of such issuance as a debt discount, at the date of issuance, and the excess of derivative liabilities over the proceeds is recognized as "Loss on Valuation of Derivative" in other expense in the accompanying financial statements. Any subsequent increase or decrease in the fair value of the derivative liabilities is recognized as "Other expense" or "Other income", respectively.
Accounting Standards Codification subtopic 815-40, Derivatives and Hedging; Contracts in Entity's own Equity ("ASC 815-40") became effective for the Company. The Company ' s Convertible Preferred Stock and Convertible debt has certain provisions that require the Company to change conversion price of the Convertible debt and Convertible Preferred Stock based on the discounted market value. Upon the effective date, the provisions of ASC 815-40 required a reclassification to liability based on the reset feature of the agreements. Therefore, in accordance with ASC 815-40, the Company determined the fair value of the initial reset provision on preferred stock and convertible debt using the Black-Scholes formula assuming no dividends, a risk-free interest rate of 0.68%-0.85%, expected volatility of 155.49%-214.23%, and expected life of 1 and 5 years. The net value of the reset provision at the date of adoption of ASC 815-40 was recorded as a derivative liability on the balance sheet and a reduction to convertible redeemable preferred stock and convertible debt. Changes in fair value are recorded as non-operating, non-cash income or expense at each reporting date. The fair value of the preferred stock and convertible debt June 30, 2013 was determined using the Black Scholes Option Pricing Model with the following assumptions:
Dividend yield: 0%
Volatility 469.97%
Risk free rate: 0.28%
The change in fair value of the convertible debt derivative liability resulted in a current period non-operating loss to operations of $6,630,782.
Fair Value of Instruments
Accounting Standards Codification subtopic 825-10, Financial Instruments ("ASC 825-10") requires disclosure of the fair value of certain financial instruments. The carrying value of cash and cash equivalents, accounts payable and accrued liabilities, and short-term borrowings, as reflected in the balance sheets, approximate fair value because of the short-term maturity of these instruments. All other significant financial assets, financial liabilities and equity instruments of the Company are either recognized or disclosed in the financial statements together with other information relevant for making a reasonable assessment of future cash flows, interest rate risk and credit risk. Where practicable the fair values of financial assets and financial liabilities have been determined and disclosed; otherwise only available information pertinent to fair value has been disclosed.
The company follows Accounting Standards Codification subtopic 820-10, Fair Value Measurements and Disclosures ("ASC 820-10") and Accounting Standards Codification subtopic 825-10, Financial Instruments ("ASC 825-10"), which permits entities to choose to measure many financial instruments and certain other items at fair value
Reclassification
Certain reclassifications have been made to conform the prior period data to the current presentation. These reclassifications had no effect on reported net loss.
Currency Risk and Foreign Currency Translations
The functional currency of the Company is the United States Dollar (USD). In accordance with ASC Topic No. 830, realized gains or losses on expenses incurred in denominations other than USD are recognized in earnings on the transaction date. At such time as there are any foreign denominated assets or liabilities, the Company will report changes in valuation in a Statement of Other Comprehensive Income or (Loss) due to the changes in cumulative adjustments from foreign currency translation.
CURRENT BUSINESS OPERATIONS
We are engaged in the evaluation, acquisition, exploration and advancement of mining projects. As of the date of this Quarterly Report, we are devoting substantially all of our efforts to the execution of our business operations. Through fiscal 2012, funding to acquire and explore alternative mining, gold and copper properties and for operational purposes was acquired through private financings.
RESULTS OF OPERATION
Six Month Period Ended June 30, 2013 Compared to the Year Ended December 31, 2012
Our net gain for the six months period ended June 30, 2013 was $(6,781,909) compared to a net loss of $(39,863,640) during the period ended December 31, 2012, a change of $ 33,081,731. During the six month period ended June 30, 2013 and December 2012, we did not generate any revenue from continuing operations.
During the six month period ended June 30, 2013, we incurred operating expenses of $170,086 compared to $8,031,052 incurred during the three month period ended December 31, 2012, a decrease of $7,860,966,. The decrease in operating expenses incurred during the three month period ended June 33, 2013 was primarily attributable to the elimination of office expense, use of consultants and professionals charges. Operating expenses reflect the limited scope and scale of our business operations.
Other income (expense) was incurred during the three month period ended June 30, 2013 of $ (6,603,085), unrealized and realized loss on derivative liabilities.
Therefore, this resulted in a net income applicable to common shares during the six month period ended June 30, 2013 of $(6,781,909).
LIQUIDITY AND CAPITAL RESOURCES
Six Month Period Ended June 30, 2013
As of June 30, 2013, our current assets and total assets were $87 in cash. Our current liabilities were $1,108,639, which resulted in a working capital deficit of $1,108,552. As of June 30,, 2013, liabilities were primarily comprised of:
(i) $298,606 in accounts payable; (ii) $585,495 in convertible notes payable; and, (iii) $ $181,236 of accrued interest payable. The increase in liabilities during the six month period ended June 30, 2013 from fiscal year ended December 31, 2012 was primarily due to the increase in the derivative liability associated with the convertible note and the significantly lower conversion price.
Stockholders' deficit increased from $1,649,790 for fiscal year ended December 31, 2012 to $8,244,609 for the six month period ended June 30, 2013
Cash Flows from Operating Activities
We have not generated positive cash flows from operating activities. For the six month period ended June, 2013, no net cash flows used in or provided by operating activities.
Cash Flows from Investing Activities
We did not engage in any investing activities during the six month period ended June 30, 2013.
Cash Flows from Financing Activities
For the six month period ended June 30, 2013, there were $137,976 net cash flows provided from financing activities.
PLAN OF OPERATION AND FUNDING
The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. The Company has reported a net loss from operations of $6,781,909 for the six month period ended June 30, 2013, a total shareholders' deficit of $ 8,244,609 and total current liabilities in excess of current assets of $1,108,639 as of June 30, 2013.
The Company is in the pre-exploratory stage and does not have any revenues from operations and will be dependent on funds raise to satisfy its ongoing capital requirements for at least the next 12 months. The Company will require additional financing in order to execute its operating plan and continue as a going concern. The Company cannot predict whether this additional financing will be in the form of equity or debt, or be in another form. The Company may not be able to obtain the necessary additional capital on a timely basis, on acceptable terms, or at all. In any of these events, the Company may be unable to implement its current plans for expansion or respond to competitive pressures, any of these circumstances would have a material adverse effect on its business, prospects, financial condition and results of operations.
Management expects that global economic conditions will continue to present a challenging operating environment through 2013.
While we have been able to manage our working capital needs with the current credit facilities, additional financing is required in order to meet our current and projected cash flow requirements from operations. We cannot predict whether this new financing will be in the form of equity or debt. We may not be able to obtain the necessary additional capital on a timely basis, on acceptable terms, or at all. Additional investments are being sought, but we cannot guarantee that we will be able to obtain such investments.
Financing transactions may include the issuance of equity or debt securities, obtaining credit facilities, or other financing mechanisms. However, the trading price of our common stock and the downturn in the U.S. stock and debt markets could make it more difficult to obtain financing through the issuance of equity or debt securities. Even if we are able to raise the funds required, it is possible that we could incur unexpected costs and expenses, fail to collect significant amounts owed to us, or experience unexpected cash requirements that would force us to seek alternative financing. Further, if we issue additional equity or debt securities, stockholders may experience additional dilution or the new equity securities may have rights, preferences or privileges senior to those of existing holders of our common stock. If additional financing is not available or is not available on acceptable terms, we will have to curtail our operations.
MATERIAL COMMITMENTS
As of the date of this Quarterly Report, we have the following material
commitments as described as described in Footnote 4 of our financial statements
(all of which are in default).
Less than More than 5
Contractual Obligations Total one year 1 - 3 Years 3 - 5 Years Years
Convertible Notes Payable 585,495 585,495
Total $ 585,495 $ 585,495 $ - $ - $ -
OFF-BALANCE SHEET ARRANGEMENTS
As of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.
GOING CONCERN
The independent auditors' report accompanying our December 31, 2011 financial statements contains an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared "assuming that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.
Inflation
We do not believe that inflation has had a material effect on our business, financial condition or results of operations. If our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases. Our inability or failure to do so could adversely affect our business, financial condition and results of operations.
Number of Employees
As of June 30, 2013 the Company had one (1) part-time employee.
Disclosure of Contractual Obligations
The Company does not have any significant contractual obligations which could negatively impact our results of operations and financial condition.
biz.yahoo.com/e/130816/ttxp10-q.html
Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Trilliant Exploration Corporation was incorporated under the laws of the State of Nevada on December 29, 2003 under the name Project Development Pacific Inc. We were previously engaged in the business of assisting Canadian citizens to access health care services from private providers. On November 26, 2007, we changed our name to Trilliant Exploration Corporation with a business purpose to acquire and develop mineral properties. During 2007, we began acquiring interests in mining properties.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Pre-Exploration Stage Company
The Company is considered to be in the pre-exploration stage as defined in ASC
915 "Accounting and Reporting by Development Stage Enterprises" as interpreted by the Securities and Exchange Commission for mining companies in Industry Guide
7. The Company is devoting substantially all of its efforts to the execution of its business plan.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Significant estimates that may change in the near future include value of goodwill, impairment of long-lived assets acquired, and value of investments.
Cash and Cash Equivalents
Cash and cash equivalents consists principally of currency on hand, demand deposits at commercial banks, and liquid investment funds having a maturity of three months or less at the time of purchase. The Company had $87 and $60 in cash and cash equivalents as of June 30, 2013 and March 31, 2013, respectively.
Revenue Recognition
The Company will follow the guidance of ASC Topic 605, formerly, SAB 104 for revenue recognition. In general, the Company will record revenue when persuasive evidence of an arrangement exists, services have been rendered, the sales price to the customer is fixed or determinable, and collectability is reasonably assured. Revenues from services are recognized when the services are performed, evidence of an arrangement exists, the fee is fixed and determinable and collectability is probable. In circumstances when these criteria are not met, revenue recognition is deferred until resolution occurs.
Mineral Acquisition and Exploration Costs
Mineral property interests include optioned and acquired mineral development and exploration stage properties. The amount capitalized related to a mineral property interest represents its fair value at the time it was optioned or acquired, either as an individual asset or as a part of a business combination. The value of such assets is primarily driven by the nature and amount of mineralized material believed to be contained in such properties. Exploration costs are expensed as incurred and development costs are capitalized if proven and probable reserves exist and the property is a commercially minable property. Mine development costs incurred either to develop new ore deposits, expand the capacity of operating mines, or to develop mine areas substantially in advance of current production are capitalized. Costs incurred to maintain assets on a standby basis are charged to operations. Costs of abandoned projects are charged to operations upon abandonment. The Company evaluates, at least quarterly, the carrying value of capitalized mineral interests costs and related property, plant and equipment costs, if any, to determine if these costs are in excess of their net realizable value and if a permanent impairment needs to be recorded. The periodic evaluation of carrying value of capitalized costs and any related property, plant and equipment costs are based upon expected future cash flows and/or estimated salvage value.
Property, Plant, and Equipment
Property and equipment are stated at cost. Depreciation and amortization are determined using the straight-line method over estimated useful lives of the assets. All property, plant, and equipment were disposed of and any gains and losses on the disposal are included in discontinued operations as disclosed in Note 10. As of September 30, 2012, the Company held no property, plant or equipment.
Net Income or (Loss) Per Share of Common Stock
Basic and diluted loss per common share is based upon the weighted average number of common shares outstanding during the period computed under the provisions of Accounting Standards Codification subtopic 260-10, Earnings per Share ("ASC 260-10"). For the three month period the weighted average number of shares issued and outstanding is 152,819,187 for the period ended March 31, 2013 and 39,405,131 for the period ended December 31, 2012.
Goodwill and Other Intangibles
As of June 30, 2013, the Company held no Goodwill. The Company possesses no other intangible assets.
Recently Issued Accounting Pronouncements
Management does not believe that any recently issued, but not yet effective accounting standards, if adopted, will have a material effect on our financial statements
Income Taxes
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period enacted. A valuation allowance is provided when it is more likely than not that a portion or all of a deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the reversal of deferred tax liabilities during the period in which related temporary differences become deductible. The benefit of tax positions taken or expected to be taken in the Company's income tax returns are recognized in the consolidated financial statements if such positions are more likely than not of being sustained.
In accordance with 740-10, the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting this standard, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority.
Derivative Liabilities
The Company accounts for its embedded conversion features in its convertible debentures in accordance ASC 815-10, "Derivatives and Hedging", which requires a periodic valuation of their fair value and a corresponding recognition of liabilities associated with such derivatives, and ASC 815-40, "Contracts in Entity's Own Equity". The recognition of derivative liabilities related to the issuance of convertible debt is applied first to the proceeds of such issuance as a debt discount, at the date of issuance, and the excess of derivative liabilities over the proceeds is recognized as "Loss on Valuation of Derivative" in other expense in the accompanying financial statements. Any subsequent increase or decrease in the fair value of the derivative liabilities is recognized as "Other expense" or "Other income", respectively.
Accounting Standards Codification subtopic 815-40, Derivatives and Hedging; Contracts in Entity's own Equity ("ASC 815-40") became effective for the Company. The Company ' s Convertible Preferred Stock and Convertible debt has certain provisions that require the Company to change conversion price of the Convertible debt and Convertible Preferred Stock based on the discounted market value. Upon the effective date, the provisions of ASC 815-40 required a reclassification to liability based on the reset feature of the agreements. Therefore, in accordance with ASC 815-40, the Company determined the fair value of the initial reset provision on preferred stock and convertible debt using the Black-Scholes formula assuming no dividends, a risk-free interest rate of 0.68%-0.85%, expected volatility of 155.49%-214.23%, and expected life of 1 and 5 years. The net value of the reset provision at the date of adoption of ASC 815-40 was recorded as a derivative liability on the balance sheet and a reduction to convertible redeemable preferred stock and convertible debt. Changes in fair value are recorded as non-operating, non-cash income or expense at each reporting date. The fair value of the preferred stock and convertible debt June 30, 2013 was determined using the Black Scholes Option Pricing Model with the following assumptions:
Dividend yield: 0%
Volatility 469.97%
Risk free rate: 0.28%
The change in fair value of the convertible debt derivative liability resulted in a current period non-operating loss to operations of $6,630,782.
Fair Value of Instruments
Accounting Standards Codification subtopic 825-10, Financial Instruments ("ASC 825-10") requires disclosure of the fair value of certain financial instruments. The carrying value of cash and cash equivalents, accounts payable and accrued liabilities, and short-term borrowings, as reflected in the balance sheets, approximate fair value because of the short-term maturity of these instruments. All other significant financial assets, financial liabilities and equity instruments of the Company are either recognized or disclosed in the financial statements together with other information relevant for making a reasonable assessment of future cash flows, interest rate risk and credit risk. Where practicable the fair values of financial assets and financial liabilities have been determined and disclosed; otherwise only available information pertinent to fair value has been disclosed.
The company follows Accounting Standards Codification subtopic 820-10, Fair Value Measurements and Disclosures ("ASC 820-10") and Accounting Standards Codification subtopic 825-10, Financial Instruments ("ASC 825-10"), which permits entities to choose to measure many financial instruments and certain other items at fair value
Reclassification
Certain reclassifications have been made to conform the prior period data to the current presentation. These reclassifications had no effect on reported net loss.
Currency Risk and Foreign Currency Translations
The functional currency of the Company is the United States Dollar (USD). In accordance with ASC Topic No. 830, realized gains or losses on expenses incurred in denominations other than USD are recognized in earnings on the transaction date. At such time as there are any foreign denominated assets or liabilities, the Company will report changes in valuation in a Statement of Other Comprehensive Income or (Loss) due to the changes in cumulative adjustments from foreign currency translation.
CURRENT BUSINESS OPERATIONS
We are engaged in the evaluation, acquisition, exploration and advancement of mining projects. As of the date of this Quarterly Report, we are devoting substantially all of our efforts to the execution of our business operations. Through fiscal 2012, funding to acquire and explore alternative mining, gold and copper properties and for operational purposes was acquired through private financings.
RESULTS OF OPERATION
Six Month Period Ended June 30, 2013 Compared to the Year Ended December 31, 2012
Our net gain for the six months period ended June 30, 2013 was $(6,781,909) compared to a net loss of $(39,863,640) during the period ended December 31, 2012, a change of $ 33,081,731. During the six month period ended June 30, 2013 and December 2012, we did not generate any revenue from continuing operations.
During the six month period ended June 30, 2013, we incurred operating expenses of $170,086 compared to $8,031,052 incurred during the three month period ended December 31, 2012, a decrease of $7,860,966,. The decrease in operating expenses incurred during the three month period ended June 33, 2013 was primarily attributable to the elimination of office expense, use of consultants and professionals charges. Operating expenses reflect the limited scope and scale of our business operations.
Other income (expense) was incurred during the three month period ended June 30, 2013 of $ (6,603,085), unrealized and realized loss on derivative liabilities.
Therefore, this resulted in a net income applicable to common shares during the six month period ended June 30, 2013 of $(6,781,909).
LIQUIDITY AND CAPITAL RESOURCES
Six Month Period Ended June 30, 2013
As of June 30, 2013, our current assets and total assets were $87 in cash. Our current liabilities were $1,108,639, which resulted in a working capital deficit of $1,108,552. As of June 30,, 2013, liabilities were primarily comprised of:
(i) $298,606 in accounts payable; (ii) $585,495 in convertible notes payable; and, (iii) $ $181,236 of accrued interest payable. The increase in liabilities during the six month period ended June 30, 2013 from fiscal year ended December 31, 2012 was primarily due to the increase in the derivative liability associated with the convertible note and the significantly lower conversion price.
Stockholders' deficit increased from $1,649,790 for fiscal year ended December 31, 2012 to $8,244,609 for the six month period ended June 30, 2013
Cash Flows from Operating Activities
We have not generated positive cash flows from operating activities. For the six month period ended June, 2013, no net cash flows used in or provided by operating activities.
Cash Flows from Investing Activities
We did not engage in any investing activities during the six month period ended June 30, 2013.
Cash Flows from Financing Activities
For the six month period ended June 30, 2013, there were $137,976 net cash flows provided from financing activities.
PLAN OF OPERATION AND FUNDING
The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. The Company has reported a net loss from operations of $6,781,909 for the six month period ended June 30, 2013, a total shareholders' deficit of $ 8,244,609 and total current liabilities in excess of current assets of $1,108,639 as of June 30, 2013.
The Company is in the pre-exploratory stage and does not have any revenues from operations and will be dependent on funds raise to satisfy its ongoing capital requirements for at least the next 12 months. The Company will require additional financing in order to execute its operating plan and continue as a going concern. The Company cannot predict whether this additional financing will be in the form of equity or debt, or be in another form. The Company may not be able to obtain the necessary additional capital on a timely basis, on acceptable terms, or at all. In any of these events, the Company may be unable to implement its current plans for expansion or respond to competitive pressures, any of these circumstances would have a material adverse effect on its business, prospects, financial condition and results of operations.
Management expects that global economic conditions will continue to present a challenging operating environment through 2013.
While we have been able to manage our working capital needs with the current credit facilities, additional financing is required in order to meet our current and projected cash flow requirements from operations. We cannot predict whether this new financing will be in the form of equity or debt. We may not be able to obtain the necessary additional capital on a timely basis, on acceptable terms, or at all. Additional investments are being sought, but we cannot guarantee that we will be able to obtain such investments.
Financing transactions may include the issuance of equity or debt securities, obtaining credit facilities, or other financing mechanisms. However, the trading price of our common stock and the downturn in the U.S. stock and debt markets could make it more difficult to obtain financing through the issuance of equity or debt securities. Even if we are able to raise the funds required, it is possible that we could incur unexpected costs and expenses, fail to collect significant amounts owed to us, or experience unexpected cash requirements that would force us to seek alternative financing. Further, if we issue additional equity or debt securities, stockholders may experience additional dilution or the new equity securities may have rights, preferences or privileges senior to those of existing holders of our common stock. If additional financing is not available or is not available on acceptable terms, we will have to curtail our operations.
MATERIAL COMMITMENTS
As of the date of this Quarterly Report, we have the following material
commitments as described as described in Footnote 4 of our financial statements
(all of which are in default).
Less than More than 5
Contractual Obligations Total one year 1 - 3 Years 3 - 5 Years Years
Convertible Notes Payable 585,495 585,495
Total $ 585,495 $ 585,495 $ - $ - $ -
OFF-BALANCE SHEET ARRANGEMENTS
As of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.
GOING CONCERN
The independent auditors' report accompanying our December 31, 2011 financial statements contains an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared "assuming that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.
Inflation
We do not believe that inflation has had a material effect on our business, financial condition or results of operations. If our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases. Our inability or failure to do so could adversely affect our business, financial condition and results of operations.
Number of Employees
As of June 30, 2013 the Company had one (1) part-time employee.
Disclosure of Contractual Obligations
The Company does not have any significant contractual obligations which could negatively impact our results of operations and financial condition.
biz.yahoo.com/e/130816/ttxp10-q.html
3-Oct-2013
Non-Reliance on Previous Financials, Audits or Interim Review, Other E
Item 4.02 Non-Reliance on Previously Issued Financial Statements
On September 30, 2013, Trilliant Exploration Corp's (the "Company") conclusively determined that the Company's previously issued unaudited financial statements for the year ended December 31, 2012 included in the Company's Annual Report on Form 10-K and the unaudited financial statements for the quarterly periods ended March 31, June 30 and September 30, 2012, included in the Company's Quarterly Reports on Form 10-Q (the "Previously Issued Financial Statements") filed with the United States Securities and Exchange Commission (the "SEC") contain certain errors that materially impact the Previously Issued Financial Statements. Accordingly, these Previously Issued Financial Statements and related financial information should no longer be relied upon.
During the year ended December 31, 2012, the Company accounted for shares of its common stock issued to third parties as services rendered and payment of a deposit to acquire an asset. The Company determined the shares of common stock while issued, were held by the Company's sole officer and Director and not issued to the third parties. In addition, during the year ended December 31, 2012 the Company issued and disbursed shares to a holder of its previously issued and outstanding debt in exchange for unpaid principal and interest and accounted for the issuance as a reduction in the unpaid debt. The Company determined shares issued were not delivered to the holder of the debt and accordingly, the debt should not have been reduced.
The Company intends to file amendments to each of its 2012 Form 10-K, Q1 2012 Form 10-Q and Q2 2012 Form 10-Q and Q3 2012 Form 10-Q to correct the errors as soon as reasonably practicable.
The Company has discussed this matter with the Company's independent registered public accounting firm
Item 8.01 Other Events
The Company through a third-party had entered into an agreement to convert certain debt instruments pursuant to the terms of a convertible bond debenture for the purpose of reducing or eliminating the debt to the bond holder. The Company issued free trading shares of appropriately aged debt to eliminate $200,000 of the debt held by the bond holder.
As a matter of course the Company's independent auditor sought to confirm the debt with the debenture holder. The debenture holder in providing its confirmation did not confirm the above described transaction, and alleges that the debenture has not been reduced or eliminated.
The Company has retained legal counsel to ascertain what action is available to it to recover the shares issued to the third-party engaged to insure the reduction of the bond holder's debt and/or any monies collected.
The Company has amended its financial records to record the effects of the issuance of stock for the stated services as an expense on its Statement of Operations at their fair market value, which is currently under review by its internal auditors. See Item 4.02 above.
biz.yahoo.com/e/131003/ttxp8-k.html
Non-Reliance on Previous Financials, Audits or Interim Review, Other E
Item 4.02 Non-Reliance on Previously Issued Financial Statements
On September 30, 2013, Trilliant Exploration Corp's (the "Company") conclusively determined that the Company's previously issued unaudited financial statements for the year ended December 31, 2012 included in the Company's Annual Report on Form 10-K and the unaudited financial statements for the quarterly periods ended March 31, June 30 and September 30, 2012, included in the Company's Quarterly Reports on Form 10-Q (the "Previously Issued Financial Statements") filed with the United States Securities and Exchange Commission (the "SEC") contain certain errors that materially impact the Previously Issued Financial Statements. Accordingly, these Previously Issued Financial Statements and related financial information should no longer be relied upon.
During the year ended December 31, 2012, the Company accounted for shares of its common stock issued to third parties as services rendered and payment of a deposit to acquire an asset. The Company determined the shares of common stock while issued, were held by the Company's sole officer and Director and not issued to the third parties. In addition, during the year ended December 31, 2012 the Company issued and disbursed shares to a holder of its previously issued and outstanding debt in exchange for unpaid principal and interest and accounted for the issuance as a reduction in the unpaid debt. The Company determined shares issued were not delivered to the holder of the debt and accordingly, the debt should not have been reduced.
The Company intends to file amendments to each of its 2012 Form 10-K, Q1 2012 Form 10-Q and Q2 2012 Form 10-Q and Q3 2012 Form 10-Q to correct the errors as soon as reasonably practicable.
The Company has discussed this matter with the Company's independent registered public accounting firm
Item 8.01 Other Events
The Company through a third-party had entered into an agreement to convert certain debt instruments pursuant to the terms of a convertible bond debenture for the purpose of reducing or eliminating the debt to the bond holder. The Company issued free trading shares of appropriately aged debt to eliminate $200,000 of the debt held by the bond holder.
As a matter of course the Company's independent auditor sought to confirm the debt with the debenture holder. The debenture holder in providing its confirmation did not confirm the above described transaction, and alleges that the debenture has not been reduced or eliminated.
The Company has retained legal counsel to ascertain what action is available to it to recover the shares issued to the third-party engaged to insure the reduction of the bond holder's debt and/or any monies collected.
The Company has amended its financial records to record the effects of the issuance of stock for the stated services as an expense on its Statement of Operations at their fair market value, which is currently under review by its internal auditors. See Item 4.02 above.
biz.yahoo.com/e/131003/ttxp8-k.html
Datum Erster Hoch Tief Schluss Stücke Volumen
06.11.13 0,0147 0,016§0,0134 0,0159 $ 405.000 5.634
GrB
06.11.13 0,0147 0,016§0,0134 0,0159 $ 405.000 5.634
GrB
28-Oct-2013
Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Trilliant Exploration Corporation was incorporated under the laws of the State of Nevada on December 29, 2003 under the name Project Development Pacific Inc. We were previously engaged in the business of assisting Canadian citizens to access health care services from private providers. On November 26, 2007, we changed our name to Trilliant Exploration Corporation with a business purpose to acquire and develop mineral properties. During 2007, we began acquiring interests in mining properties.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Pre-Exploration Stage Company
The Company is considered to be in the pre-exploration stage as defined in ASC
915 "Accounting and Reporting by Development Stage Enterprises" as interpreted by the Securities and Exchange Commission for mining companies in Industry Guide
7. The Company is devoting substantially all of its efforts to the execution of its business plan.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Significant estimates that may change in the near future include value of goodwill, impairment of long-lived assets acquired, and value of investments.
Cash and Cash Equivalents
Cash and cash equivalents consists principally of currency on hand, demand deposits at commercial banks, and liquid investment funds having a maturity of three months or less at the time of purchase. The Company had $24,369 and $87 in cash and cash equivalents as of September 30, 2013 and June 30, 2013, respectively.
Revenue Recognition
The Company will follow the guidance of ASC Topic 605, formerly, SAB 104 for revenue recognition. In general, the Company will record revenue when persuasive evidence of an arrangement exists, services have been rendered, the sales price to the customer is fixed or determinable, and collectability is reasonably assured. Revenues from services are recognized when the services are performed, evidence of an arrangement exists, the fee is fixed and determinable and collectability is probable. In circumstances when these criteria are not met, revenue recognition is deferred until resolution occurs.
Mineral Acquisition and Exploration Costs
Mineral property interests include optioned and acquired mineral development and exploration stage properties. The amount capitalized related to a mineral property interest represents its fair value at the time it was optioned or acquired, either as an individual asset or as a part of a business combination. The value of such assets is primarily driven by the nature and amount of mineralized material believed to be contained in such properties. Exploration costs are expensed as incurred and development costs are capitalized if proven and probable reserves exist and the property is a commercially minable property. Mine development costs incurred either to develop new ore deposits, expand the capacity of operating mines, or to develop mine areas substantially in advance of current production are capitalized. Costs incurred to maintain assets on a standby basis are charged to operations. Costs of abandoned projects are charged to operations upon abandonment. The Company evaluates, at least quarterly, the carrying value of capitalized mineral interests costs and related property, plant and equipment costs, if any, to determine if these costs are in excess of their net realizable value and if a permanent impairment needs to be recorded. The periodic evaluation of carrying value of capitalized costs and any related property, plant and equipment costs are based upon expected future cash flows and/or estimated salvage value.
Property, Plant, and Equipment
Property and equipment are stated at cost. Depreciation and amortization are determined using the straight-line method over estimated useful lives of the assets. All property, plant, and equipment were disposed of and any gains and losses on the disposal are included in discontinued operations as disclosed in Note 10. As of September 30, 2013, the Company held no property, plant or equipment.
Net Income or (Loss) Per Share of Common Stock
Basic and diluted loss per common share is based upon the weighted average number of common shares outstanding during the period computed under the provisions of Accounting Standards Codification subtopic 260-10, Earnings per Share ("ASC 260-10"). For the three month period the weighted average number of shares issued and outstanding is 191,446,144 for the period ended Sept. 30, 2013 and 39,405,131 for the period ended December 31, 2012.
Goodwill and Other Intangibles
As of September 30, 2013, the Company held no Goodwill. The Company possesses no other intangible assets.
Recently Issued Accounting Pronouncements
Management does not believe that any recently issued, but not yet effective accounting standards, if adopted, will have a material effect on our financial statements
Income Taxes
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period enacted. A valuation allowance is provided when it is more likely than not that a portion or all of a deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the reversal of deferred tax liabilities during the period in which related temporary differences become deductible. The benefit of tax positions taken or expected to be taken in the Company's income tax returns are recognized in the consolidated financial statements if such positions are more likely than not of being sustained.
In accordance with 740-10, the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting this standard, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority.
Derivative Liabilities
The Company accounts for its embedded conversion features in its convertible debentures in accordance ASC 815-10, "Derivatives and Hedging", which requires a periodic valuation of their fair value and a corresponding recognition of liabilities associated with such derivatives, and ASC 815-40, "Contracts in Entity's Own Equity". The recognition of derivative liabilities related to the issuance of convertible debt is applied first to the proceeds of such issuance as a debt discount, at the date of issuance, and the excess of derivative liabilities over the proceeds is recognized as "Loss on Valuation of Derivative" in other expense in the accompanying financial statements. Any subsequent increase or decrease in the fair value of the derivative liabilities is recognized as "Other expense" or "Other income", respectively.
Accounting Standards Codification subtopic 815-40, Derivatives and Hedging; Contracts in Entity's own Equity ("ASC 815-40") became effective for the Company. The Company ' s Convertible Preferred Stock and Convertible debt has certain provisions that require the Company to change conversion price of the Convertible debt and Convertible Preferred Stock based on the discounted market value. Upon the effective date, the provisions of ASC 815-40 required a reclassification to liability based on the reset feature of the agreements. Therefore, in accordance with ASC 815-40, the Company determined the fair value of the initial reset provision on preferred stock and convertible debt using the Black-Scholes formula assuming no dividends, a risk-free interest rate of 0.68%-0.85%, expected volatility of 155.49%-214.23%, and expected life of 1 and 5 years. The net value of the reset provision at the date of adoption of ASC 815-40 was recorded as a derivative liability on the balance sheet and a reduction to convertible redeemable preferred stock and convertible debt. Changes in fair value are recorded as non-operating, non-cash income or expense at each reporting date. The fair value of the preferred stock and convertible debt June 30, 2013 was determined using the Black Scholes Option Pricing Model with the following assumptions:
Dividend yield: 0%%
0
Volatility 577.76 %
Risk free rate: 0.33 %
The change in fair value of the convertible debt derivative liability resulted in a current period non-operating gain to operations of $4,885,411.
Fair Value of Instruments
Accounting Standards Codification subtopic 825-10, Financial Instruments ("ASC 825-10") requires disclosure of the fair value of certain financial instruments. The carrying value of cash and cash equivalents, accounts payable and accrued liabilities, and short-term borrowings, as reflected in the balance sheets, approximate fair value because of the short-term maturity of these instruments. All other significant financial assets, financial liabilities and equity instruments of the Company are either recognized or disclosed in the financial statements together with other information relevant for making a reasonable assessment of future cash flows, interest rate risk and credit risk. Where practicable the fair values of financial assets and financial liabilities have been determined and disclosed; otherwise only available information pertinent to fair value has been disclosed.
The company follows Accounting Standards Codification subtopic 820-10, Fair Value Measurements and Disclosures ("ASC 820-10") and Accounting Standards Codification subtopic 825-10, Financial Instruments ("ASC 825-10"), which permits entities to choose to measure many financial instruments and certain other items at fair value
Reclassification
Certain reclassifications have been made to conform the prior period data to the current presentation. These reclassifications had no effect on reported net loss.
Currency Risk and Foreign Currency Translations
The functional currency of the Company is the United States Dollar (USD). In accordance with ASC Topic No. 830, realized gains or losses on expenses incurred in denominations other than USD are recognized in earnings on the transaction date. At such time as there are any foreign denominated assets or liabilities, the Company will report changes in valuation in a Statement of Other Comprehensive Income or (Loss) due to the changes in cumulative adjustments from foreign currency translation.
CURRENT BUSINESS OPERATIONS
We are engaged in the evaluation, acquisition, exploration and advancement of mining projects. As of the date of this Quarterly Report, we are devoting substantially all of our efforts to the execution of our business operations. Through fiscal 2012, funding to acquire and explore alternative mining, gold and copper properties and for operational purposes was acquired through private financings.
RESULTS OF OPERATION
Nine Month Period Ended September 30, 2013 Compared to the Year Ended December 31, 2012
Our net loss for the nine months period ended September 30, 2013 was $(1,913,410) compared to a net loss of $(42,317,833) during the period ended December 31, 2012, a change of $40,400,423. During the nine month period ended September 30, 2013 and December 2012, we did not generate any revenue from continuing operations.
During the three month period ended September 30, 2013, we incurred operating expenses of $11,121 compared to $156,206 incurred during the three month period ended June 30, 2013, a decrease of $144,905. The decrease in operating expenses incurred during the three month period ended Sept. 30, 2013 was primarily attributable to the elimination of office expense, use of consultants and professionals charges. Operating expenses reflect the limited scope and scale of our business operations.
Other income (expense) was incurred during the three month period ended Sept. 30, 2013 of $ 4,946,418 from unrealized and realized gain on derivative liabilities.
For the nine months ended September 30, 2013, the Company incurred an operating loss of $(181,207) and other income (expense) of $(1,736,016). Therefore, this resulted in a net loss applicable to common shares during the nine month period ended September 30, 2013 of $(1,914,410).
LIQUIDITY AND CAPITAL RESOURCES
Six Month Period Ended September 30, 2013
As of September 30, 2013, our current assets and total assets were $24,369 in cash. Our current liabilities were $3,616,026 which resulted in a working capital deficit of $3,591,657. As of Sept. 30, 2013, liabilities were primarily comprised of: (i) $299,331 in accounts payable; (ii) $585,495 in convertible notes payable; and, (iii) $ $1,052,491 of accrued interest payable. The increase in liabilities during the nine month period ended September 30, 2013 from fiscal year ended December 31, 2012 was primarily due to the increase in the derivative liability associated with the convertible note and the significantly lower conversion price.
Stockholders' deficit increased from 4,103,983 for fiscal year ended December 31, 2012 to $5,842,303 for the nine month period ended Sept. 30, 2013
Cash Flows from Operating Activities
We have not generated positive cash flows from operating activities. For the nine month period ended Sept 30, 2013, net cash flows used in or provided by operating activities was $(3,843).
Cash Flows from Investing Activities
We did not engage in any investing activities during the nine month period ended Sept. 30, 2013.
Cash Flows from Financing Activities
For the nine month period ended Sept. 30, 2013, there were $25,000 net cash flows provided from financing activities.
PLAN OF OPERATION AND FUNDING
The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. The Company has reported a net loss from operations of $1,193,410 for the nine month period ended September 30, 2013, a total shareholders' deficit of $ 5,842,203 and total current liabilities in excess of current assets of $3,591,657 as of September 30, 2013.
The Company is in the pre-exploratory stage and does not have any revenues from operations and will be dependent on funds raise to satisfy its ongoing capital requirements for at least the next 12 months. The Company will require additional financing in order to execute its operating plan and continue as a going concern. The Company cannot predict whether this additional financing will be in the form of equity or debt, or be in another form. The Company may not be able to obtain the necessary additional capital on a timely basis, on acceptable terms, or at all. In any of these events, the Company may be unable to implement its current plans for expansion or respond to competitive pressures, any of these circumstances would have a material adverse effect on its business, prospects, financial condition and results of operations.
Management expects that global economic conditions will continue to present a challenging operating environment through 2013.
While we have been able to manage our working capital needs with the current credit facilities, additional financing is required in order to meet our current and projected cash flow requirements from operations. We cannot predict whether this new financing will be in the form of equity or debt. We may not be able to obtain the necessary additional capital on a timely basis, on acceptable terms, or at all. Additional investments are being sought, but we cannot guarantee that we will be able to obtain such investments.
Financing transactions may include the issuance of equity or debt securities, obtaining credit facilities, or other financing mechanisms. However, the trading price of our common stock and the downturn in the U.S. stock and debt markets could make it more difficult to obtain financing through the issuance of equity or debt securities. Even if we are able to raise the funds required, it is possible that we could incur unexpected costs and expenses, fail to collect significant amounts owed to us, or experience unexpected cash requirements that would force us to seek alternative financing. Further, if we issue additional equity or debt securities, stockholders may experience additional dilution or the new equity securities may have rights, preferences or privileges senior to those of existing holders of our common stock. If additional financing is not available or is not available on acceptable terms, we will have to curtail our operations.
MATERIAL COMMITMENTS
As of the date of this Quarterly Report, we have the following material
commitments as described as described in Footnote 4 of our financial statements
(all of which are in default).
Contractual Less than More than 5
Obligations Total one year 1 - 3 Years 3 - 5 Years Years
Convertible Notes
Payable 585,495 585,495
Total $ 585,495 $ 585,495 $ - $ - $ -
OFF-BALANCE SHEET ARRANGEMENTS
As of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.
GOING CONCERN
The independent auditors' report accompanying our December 31, 2011 financial statements contains an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared "assuming that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.
Inflation
We do not believe that inflation has had a material effect on our business, financial condition or results of operations. If our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases. Our inability or failure to do so could adversely affect our business, financial condition and results of operations.
Number of Employees
As of September 30, 2013 the Company had one (1) part-time employee.
Disclosure of Contractual Obligations
The Company does not have any significant contractual obligations which could negatively impact our results of operations and financial condition.
biz.yahoo.com/e/131028/ttxp10-q.html
Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Trilliant Exploration Corporation was incorporated under the laws of the State of Nevada on December 29, 2003 under the name Project Development Pacific Inc. We were previously engaged in the business of assisting Canadian citizens to access health care services from private providers. On November 26, 2007, we changed our name to Trilliant Exploration Corporation with a business purpose to acquire and develop mineral properties. During 2007, we began acquiring interests in mining properties.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Pre-Exploration Stage Company
The Company is considered to be in the pre-exploration stage as defined in ASC
915 "Accounting and Reporting by Development Stage Enterprises" as interpreted by the Securities and Exchange Commission for mining companies in Industry Guide
7. The Company is devoting substantially all of its efforts to the execution of its business plan.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Significant estimates that may change in the near future include value of goodwill, impairment of long-lived assets acquired, and value of investments.
Cash and Cash Equivalents
Cash and cash equivalents consists principally of currency on hand, demand deposits at commercial banks, and liquid investment funds having a maturity of three months or less at the time of purchase. The Company had $24,369 and $87 in cash and cash equivalents as of September 30, 2013 and June 30, 2013, respectively.
Revenue Recognition
The Company will follow the guidance of ASC Topic 605, formerly, SAB 104 for revenue recognition. In general, the Company will record revenue when persuasive evidence of an arrangement exists, services have been rendered, the sales price to the customer is fixed or determinable, and collectability is reasonably assured. Revenues from services are recognized when the services are performed, evidence of an arrangement exists, the fee is fixed and determinable and collectability is probable. In circumstances when these criteria are not met, revenue recognition is deferred until resolution occurs.
Mineral Acquisition and Exploration Costs
Mineral property interests include optioned and acquired mineral development and exploration stage properties. The amount capitalized related to a mineral property interest represents its fair value at the time it was optioned or acquired, either as an individual asset or as a part of a business combination. The value of such assets is primarily driven by the nature and amount of mineralized material believed to be contained in such properties. Exploration costs are expensed as incurred and development costs are capitalized if proven and probable reserves exist and the property is a commercially minable property. Mine development costs incurred either to develop new ore deposits, expand the capacity of operating mines, or to develop mine areas substantially in advance of current production are capitalized. Costs incurred to maintain assets on a standby basis are charged to operations. Costs of abandoned projects are charged to operations upon abandonment. The Company evaluates, at least quarterly, the carrying value of capitalized mineral interests costs and related property, plant and equipment costs, if any, to determine if these costs are in excess of their net realizable value and if a permanent impairment needs to be recorded. The periodic evaluation of carrying value of capitalized costs and any related property, plant and equipment costs are based upon expected future cash flows and/or estimated salvage value.
Property, Plant, and Equipment
Property and equipment are stated at cost. Depreciation and amortization are determined using the straight-line method over estimated useful lives of the assets. All property, plant, and equipment were disposed of and any gains and losses on the disposal are included in discontinued operations as disclosed in Note 10. As of September 30, 2013, the Company held no property, plant or equipment.
Net Income or (Loss) Per Share of Common Stock
Basic and diluted loss per common share is based upon the weighted average number of common shares outstanding during the period computed under the provisions of Accounting Standards Codification subtopic 260-10, Earnings per Share ("ASC 260-10"). For the three month period the weighted average number of shares issued and outstanding is 191,446,144 for the period ended Sept. 30, 2013 and 39,405,131 for the period ended December 31, 2012.
Goodwill and Other Intangibles
As of September 30, 2013, the Company held no Goodwill. The Company possesses no other intangible assets.
Recently Issued Accounting Pronouncements
Management does not believe that any recently issued, but not yet effective accounting standards, if adopted, will have a material effect on our financial statements
Income Taxes
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period enacted. A valuation allowance is provided when it is more likely than not that a portion or all of a deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the reversal of deferred tax liabilities during the period in which related temporary differences become deductible. The benefit of tax positions taken or expected to be taken in the Company's income tax returns are recognized in the consolidated financial statements if such positions are more likely than not of being sustained.
In accordance with 740-10, the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting this standard, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority.
Derivative Liabilities
The Company accounts for its embedded conversion features in its convertible debentures in accordance ASC 815-10, "Derivatives and Hedging", which requires a periodic valuation of their fair value and a corresponding recognition of liabilities associated with such derivatives, and ASC 815-40, "Contracts in Entity's Own Equity". The recognition of derivative liabilities related to the issuance of convertible debt is applied first to the proceeds of such issuance as a debt discount, at the date of issuance, and the excess of derivative liabilities over the proceeds is recognized as "Loss on Valuation of Derivative" in other expense in the accompanying financial statements. Any subsequent increase or decrease in the fair value of the derivative liabilities is recognized as "Other expense" or "Other income", respectively.
Accounting Standards Codification subtopic 815-40, Derivatives and Hedging; Contracts in Entity's own Equity ("ASC 815-40") became effective for the Company. The Company ' s Convertible Preferred Stock and Convertible debt has certain provisions that require the Company to change conversion price of the Convertible debt and Convertible Preferred Stock based on the discounted market value. Upon the effective date, the provisions of ASC 815-40 required a reclassification to liability based on the reset feature of the agreements. Therefore, in accordance with ASC 815-40, the Company determined the fair value of the initial reset provision on preferred stock and convertible debt using the Black-Scholes formula assuming no dividends, a risk-free interest rate of 0.68%-0.85%, expected volatility of 155.49%-214.23%, and expected life of 1 and 5 years. The net value of the reset provision at the date of adoption of ASC 815-40 was recorded as a derivative liability on the balance sheet and a reduction to convertible redeemable preferred stock and convertible debt. Changes in fair value are recorded as non-operating, non-cash income or expense at each reporting date. The fair value of the preferred stock and convertible debt June 30, 2013 was determined using the Black Scholes Option Pricing Model with the following assumptions:
Dividend yield: 0%%
0
Volatility 577.76 %
Risk free rate: 0.33 %
The change in fair value of the convertible debt derivative liability resulted in a current period non-operating gain to operations of $4,885,411.
Fair Value of Instruments
Accounting Standards Codification subtopic 825-10, Financial Instruments ("ASC 825-10") requires disclosure of the fair value of certain financial instruments. The carrying value of cash and cash equivalents, accounts payable and accrued liabilities, and short-term borrowings, as reflected in the balance sheets, approximate fair value because of the short-term maturity of these instruments. All other significant financial assets, financial liabilities and equity instruments of the Company are either recognized or disclosed in the financial statements together with other information relevant for making a reasonable assessment of future cash flows, interest rate risk and credit risk. Where practicable the fair values of financial assets and financial liabilities have been determined and disclosed; otherwise only available information pertinent to fair value has been disclosed.
The company follows Accounting Standards Codification subtopic 820-10, Fair Value Measurements and Disclosures ("ASC 820-10") and Accounting Standards Codification subtopic 825-10, Financial Instruments ("ASC 825-10"), which permits entities to choose to measure many financial instruments and certain other items at fair value
Reclassification
Certain reclassifications have been made to conform the prior period data to the current presentation. These reclassifications had no effect on reported net loss.
Currency Risk and Foreign Currency Translations
The functional currency of the Company is the United States Dollar (USD). In accordance with ASC Topic No. 830, realized gains or losses on expenses incurred in denominations other than USD are recognized in earnings on the transaction date. At such time as there are any foreign denominated assets or liabilities, the Company will report changes in valuation in a Statement of Other Comprehensive Income or (Loss) due to the changes in cumulative adjustments from foreign currency translation.
CURRENT BUSINESS OPERATIONS
We are engaged in the evaluation, acquisition, exploration and advancement of mining projects. As of the date of this Quarterly Report, we are devoting substantially all of our efforts to the execution of our business operations. Through fiscal 2012, funding to acquire and explore alternative mining, gold and copper properties and for operational purposes was acquired through private financings.
RESULTS OF OPERATION
Nine Month Period Ended September 30, 2013 Compared to the Year Ended December 31, 2012
Our net loss for the nine months period ended September 30, 2013 was $(1,913,410) compared to a net loss of $(42,317,833) during the period ended December 31, 2012, a change of $40,400,423. During the nine month period ended September 30, 2013 and December 2012, we did not generate any revenue from continuing operations.
During the three month period ended September 30, 2013, we incurred operating expenses of $11,121 compared to $156,206 incurred during the three month period ended June 30, 2013, a decrease of $144,905. The decrease in operating expenses incurred during the three month period ended Sept. 30, 2013 was primarily attributable to the elimination of office expense, use of consultants and professionals charges. Operating expenses reflect the limited scope and scale of our business operations.
Other income (expense) was incurred during the three month period ended Sept. 30, 2013 of $ 4,946,418 from unrealized and realized gain on derivative liabilities.
For the nine months ended September 30, 2013, the Company incurred an operating loss of $(181,207) and other income (expense) of $(1,736,016). Therefore, this resulted in a net loss applicable to common shares during the nine month period ended September 30, 2013 of $(1,914,410).
LIQUIDITY AND CAPITAL RESOURCES
Six Month Period Ended September 30, 2013
As of September 30, 2013, our current assets and total assets were $24,369 in cash. Our current liabilities were $3,616,026 which resulted in a working capital deficit of $3,591,657. As of Sept. 30, 2013, liabilities were primarily comprised of: (i) $299,331 in accounts payable; (ii) $585,495 in convertible notes payable; and, (iii) $ $1,052,491 of accrued interest payable. The increase in liabilities during the nine month period ended September 30, 2013 from fiscal year ended December 31, 2012 was primarily due to the increase in the derivative liability associated with the convertible note and the significantly lower conversion price.
Stockholders' deficit increased from 4,103,983 for fiscal year ended December 31, 2012 to $5,842,303 for the nine month period ended Sept. 30, 2013
Cash Flows from Operating Activities
We have not generated positive cash flows from operating activities. For the nine month period ended Sept 30, 2013, net cash flows used in or provided by operating activities was $(3,843).
Cash Flows from Investing Activities
We did not engage in any investing activities during the nine month period ended Sept. 30, 2013.
Cash Flows from Financing Activities
For the nine month period ended Sept. 30, 2013, there were $25,000 net cash flows provided from financing activities.
PLAN OF OPERATION AND FUNDING
The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. The Company has reported a net loss from operations of $1,193,410 for the nine month period ended September 30, 2013, a total shareholders' deficit of $ 5,842,203 and total current liabilities in excess of current assets of $3,591,657 as of September 30, 2013.
The Company is in the pre-exploratory stage and does not have any revenues from operations and will be dependent on funds raise to satisfy its ongoing capital requirements for at least the next 12 months. The Company will require additional financing in order to execute its operating plan and continue as a going concern. The Company cannot predict whether this additional financing will be in the form of equity or debt, or be in another form. The Company may not be able to obtain the necessary additional capital on a timely basis, on acceptable terms, or at all. In any of these events, the Company may be unable to implement its current plans for expansion or respond to competitive pressures, any of these circumstances would have a material adverse effect on its business, prospects, financial condition and results of operations.
Management expects that global economic conditions will continue to present a challenging operating environment through 2013.
While we have been able to manage our working capital needs with the current credit facilities, additional financing is required in order to meet our current and projected cash flow requirements from operations. We cannot predict whether this new financing will be in the form of equity or debt. We may not be able to obtain the necessary additional capital on a timely basis, on acceptable terms, or at all. Additional investments are being sought, but we cannot guarantee that we will be able to obtain such investments.
Financing transactions may include the issuance of equity or debt securities, obtaining credit facilities, or other financing mechanisms. However, the trading price of our common stock and the downturn in the U.S. stock and debt markets could make it more difficult to obtain financing through the issuance of equity or debt securities. Even if we are able to raise the funds required, it is possible that we could incur unexpected costs and expenses, fail to collect significant amounts owed to us, or experience unexpected cash requirements that would force us to seek alternative financing. Further, if we issue additional equity or debt securities, stockholders may experience additional dilution or the new equity securities may have rights, preferences or privileges senior to those of existing holders of our common stock. If additional financing is not available or is not available on acceptable terms, we will have to curtail our operations.
MATERIAL COMMITMENTS
As of the date of this Quarterly Report, we have the following material
commitments as described as described in Footnote 4 of our financial statements
(all of which are in default).
Contractual Less than More than 5
Obligations Total one year 1 - 3 Years 3 - 5 Years Years
Convertible Notes
Payable 585,495 585,495
Total $ 585,495 $ 585,495 $ - $ - $ -
OFF-BALANCE SHEET ARRANGEMENTS
As of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.
GOING CONCERN
The independent auditors' report accompanying our December 31, 2011 financial statements contains an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared "assuming that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.
Inflation
We do not believe that inflation has had a material effect on our business, financial condition or results of operations. If our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases. Our inability or failure to do so could adversely affect our business, financial condition and results of operations.
Number of Employees
As of September 30, 2013 the Company had one (1) part-time employee.
Disclosure of Contractual Obligations
The Company does not have any significant contractual obligations which could negatively impact our results of operations and financial condition.
biz.yahoo.com/e/131028/ttxp10-q.html
0.02 Up 0.00(5.00%) Nov 15, 2:59PM EST
Prev Close: 0.02
Open:0.02
Bid: N/A§
Ask:§N/A
1y Target Est: N/A
Beta:§N/A
Next Earnings Date: N/A
Day's Range: 0.01 - 0.02
52wk Range: 0.01 - 0.35
Volume:§1,242,950
Avg Vol (3m): 742,788
Market Cap: 3.22M
P/E (ttm): N/A
EPS (ttm): -0.01
Div & Yield: N/A (N/A)
finance.yahoo.com/q?s=ttxp
Prev Close: 0.02
Open:0.02
Bid: N/A§
Ask:§N/A
1y Target Est: N/A
Beta:§N/A
Next Earnings Date: N/A
Day's Range: 0.01 - 0.02
52wk Range: 0.01 - 0.35
Volume:§1,242,950
Avg Vol (3m): 742,788
Market Cap: 3.22M
P/E (ttm): N/A
EPS (ttm): -0.01
Div & Yield: N/A (N/A)
finance.yahoo.com/q?s=ttxp
Datum Erster Hoch Tief Schluss Stücke Volumen
18.11.13 0,0139 0,0189§0,0139 0,0142 $ 1.235.000 17.840
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18.11.13 0,0139 0,0189§0,0139 0,0142 $ 1.235.000 17.840
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Zeit Kurs Stück
15:52:03 0,0185 $ 10.000
_____________________
GRATULATION
Datum Erster Hoch Tief Schluss Stücke Volumen
20.11.13 0,0149 0,0183 0,0149 0,0182 $ 97.900 1.718
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20.11.13 0,0149 0,0183 0,0149 0,0182 $ 97.900 1.718
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20:36:47§0,0131 $
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16:43:07§0,014 $
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16:43:05§0,014 $
60.000
Kosmonova buran
Kurs Stück §
20:36:47§0,0131 $
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14.500 §
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60.000
Kosmonova buran
Datum Erster Hoch Tief Schluss Stücke Volumen
27.11.13 0,0122 0,0124§0,0122 0,0122 $ 23.000 281
GrB
27.11.13 0,0122 0,0124§0,0122 0,0122 $ 23.000 281
GrB
::::::::::::: 0,015 $ +22,95% +0,0028 $
In Euro: 0,0111 € | Nasdaq OTC Other, 29.11.13 ,GrB
In Euro: 0,0111 € | Nasdaq OTC Other, 29.11.13 ,GrB
Zeit Kurs Stück
17:07:04§0,0149 $ 10.000
____________________
GRATULATION
17:07:04§0,0149 $ 10.000
____________________
GRATULATION
Datum Erster Hoch Tief Schluss Stücke Volumen
05.12.13 0,01 0,0111§0,0081 0,0111 $ 1.315.000 13.104
GrB
05.12.13 0,01 0,0111§0,0081 0,0111 $ 1.315.000 13.104
GrB
:::::::::::::::::: 0,0136 $ +7,94% +0,001 $
In Euro: 0,0100 € | Nasdaq OTC Other, 15.01.14:::::::::: sei gegrüsst mein kleiner Schelm
. ...mal nen fixen Gruss an mich und buran hier ;-)
In Euro: 0,0100 € | Nasdaq OTC Other, 15.01.14:::::::::: sei gegrüsst mein kleiner Schelm
. ...mal nen fixen Gruss an mich und buran hier ;-)
www.trilliant-exploration.com Trilliant Exploration is focused on a variety of strategic mineral acquisitions including Copper and well positioned to capture the next wave in mineral exploration, Lithium and Rare Earth metals. Trilliant Exploration is a US based, high growth mining company focused on adding value through successful exploration, project development, efficient operations, and opportunistic acquisitions. Maintaining a low risk profile through project diversification, astute financial management and operating in secure jurisdictions are key priorities for Trilliant Exploration's Management team.
www.usetdas.com/TDAS/NewsArticle.aspx?NewsID=22694
www.usetdas.com/TDAS/NewsArticle.aspx?NewsID=22694
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Contact: Mr. Mark Evans
Phone: (212) 203-0310
Email: info@trilliant-exploration.com
Web: www.trilliant-exploration.com
To view this press release as a PDF file, click onto the following link:
www.usetdas.com/pr/TrilliantExplorationDec202013.pdf
Maximum News Dissemination by FSCwire. www.fscwire.com
www.usetdas.com/TDAS/NewsArticle.aspx?NewsID=22694
These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Contact: Mr. Mark Evans
Phone: (212) 203-0310
Email: info@trilliant-exploration.com
Web: www.trilliant-exploration.com
To view this press release as a PDF file, click onto the following link:
www.usetdas.com/pr/TrilliantExplorationDec202013.pdf
Maximum News Dissemination by FSCwire. www.fscwire.com
www.usetdas.com/TDAS/NewsArticle.aspx?NewsID=22694
::::::::::::::::::::::::::::::: 0,0132 $ +0,76% +0,0001 $
In Euro: 0,0097 € | Nasdaq OTC Other, 17.01.14 , GrB
In Euro: 0,0097 € | Nasdaq OTC Other, 17.01.14 , GrB
FSC / Press Release
Trilliant Exploration Responds to Trading Suspension
NEW YORK, NY, February 28, 2014 /FSC/ - Trilliant Exploration (TTXP:OTCQB), announced today that the company intends to file a Form 15 which is a Certification and Notice of Termination of Registration Under Section 12(g) of the Securities and Exchange Act of 1934. The company will be re-listing back on OTC Pink sheets in the coming days.
Eric Radtke, President of Trilliant Exploration said, "Due to the trading suspension put in place by the SEC, for the stage the company is in now, it makes more sense to be reporting as an OTC Markets company. We have been speaking with the SEC for approximately six months and the company was previously working with its auditors to rectify the situation. Due to recent events it will be easier for the company to focus on its goals without the stringent reporting requirements and the costs involved at this stage. We anticipate in a matter of days having all financial reports current and filed and all information transparent as it is up to date as everything is completed including re-instating in Nevada. "
Trilliant Exploration's Copper Island Mines Ltd. Project and its rights and claims are located 15km NW of Campbell River, British Columbia. Copper Island Mines Ltd. is the operator of a 3000 hectare property which is known for high grade chalcocite mineralization. The area has been under regular development and small scale production since 1915. The area contains one of the highest densities of copper prospects in British Columbia and is rated high for mineralization by the BCGS (British Columbia Geological Survey). Initial exploration on the Property was conducted by Dodge Copper in 1954 when 145 percussion holes were drilled outlining the Pomeroy areas. Exploration in the 1970's by Prince Stewart Mines and Quadra Mining resulted in a historic reserve estimate of 3.5 metric tons grading 2% copper. Exploration in the 1990's resulted in a historical resource estimate from all occurrences of 5.3Mt grading 1.98% copper, and is used for historical reference purposes only.
About Trilliant Exploration (TTXP:OTCQB) www.trilliant-exploration.com Trilliant Exploration is focused on a variety of strategic mineral acquisitions including Copper and well positioned to capture the next wave in mineral exploration, Lithium and Rare Earth metals. Trilliant Exploration is a US based, high growth mining company focused on adding value through successful exploration, project development, efficient operations, and opportunistic acquisitions. Maintaining a low risk profile through project diversification, astute financial management and operating in secure jurisdictions are key priorities for Trilliant Exploration's Management team.
Forward-Looking Statements
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Contact: Mr. Mark Evans
Phone: (212) 203-0310
Email: info@trilliant-exploration.com
Web: www.trilliant-exploration.com
To view this press release as a PDF file, click onto the following link:
www.usetdas.com/pr/TrilliantFeb282014.pdf
Maximum News Dissemination by FSCwire. www.fscwire.comhttp://www.usetdas.com/TDAS/...spx?NewsID=23012
Trilliant Exploration Responds to Trading Suspension
NEW YORK, NY, February 28, 2014 /FSC/ - Trilliant Exploration (TTXP:OTCQB), announced today that the company intends to file a Form 15 which is a Certification and Notice of Termination of Registration Under Section 12(g) of the Securities and Exchange Act of 1934. The company will be re-listing back on OTC Pink sheets in the coming days.
Eric Radtke, President of Trilliant Exploration said, "Due to the trading suspension put in place by the SEC, for the stage the company is in now, it makes more sense to be reporting as an OTC Markets company. We have been speaking with the SEC for approximately six months and the company was previously working with its auditors to rectify the situation. Due to recent events it will be easier for the company to focus on its goals without the stringent reporting requirements and the costs involved at this stage. We anticipate in a matter of days having all financial reports current and filed and all information transparent as it is up to date as everything is completed including re-instating in Nevada. "
Trilliant Exploration's Copper Island Mines Ltd. Project and its rights and claims are located 15km NW of Campbell River, British Columbia. Copper Island Mines Ltd. is the operator of a 3000 hectare property which is known for high grade chalcocite mineralization. The area has been under regular development and small scale production since 1915. The area contains one of the highest densities of copper prospects in British Columbia and is rated high for mineralization by the BCGS (British Columbia Geological Survey). Initial exploration on the Property was conducted by Dodge Copper in 1954 when 145 percussion holes were drilled outlining the Pomeroy areas. Exploration in the 1970's by Prince Stewart Mines and Quadra Mining resulted in a historic reserve estimate of 3.5 metric tons grading 2% copper. Exploration in the 1990's resulted in a historical resource estimate from all occurrences of 5.3Mt grading 1.98% copper, and is used for historical reference purposes only.
About Trilliant Exploration (TTXP:OTCQB) www.trilliant-exploration.com Trilliant Exploration is focused on a variety of strategic mineral acquisitions including Copper and well positioned to capture the next wave in mineral exploration, Lithium and Rare Earth metals. Trilliant Exploration is a US based, high growth mining company focused on adding value through successful exploration, project development, efficient operations, and opportunistic acquisitions. Maintaining a low risk profile through project diversification, astute financial management and operating in secure jurisdictions are key priorities for Trilliant Exploration's Management team.
Forward-Looking Statements
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Contact: Mr. Mark Evans
Phone: (212) 203-0310
Email: info@trilliant-exploration.com
Web: www.trilliant-exploration.com
To view this press release as a PDF file, click onto the following link:
www.usetdas.com/pr/TrilliantFeb282014.pdf
Maximum News Dissemination by FSCwire. www.fscwire.comhttp://www.usetdas.com/TDAS/...spx?NewsID=23012
Datum Erster Hoch Tief Schluss Stücke Volumen
06.08.14 0,0007 0,0007§0,0005 0,0005 $ 2.400 2
GrB
06.08.14 0,0007 0,0007§0,0005 0,0005 $ 2.400 2
GrB
:::::::::::::::: 0,002 $ +100,00% +0,001 $
In Euro: 0,0016 € | Nasdaq OTC Other, 19.09.14::::::: 100 in Worten
In Euro: 0,0016 € | Nasdaq OTC Other, 19.09.14::::::: 100 in Worten
buran: nur ein börsenboard geführt von www.bundesbank.de 21:18 #1
achte er einfach auf die links
Mit freundlichen Grüssen Mario Meierhof 39517 Lüderitz Gartenstrasse 6
mariomeierhof@web.de
Tel.:039361/96548 Atelier Meierhof 039361/51273 Kuhle
gez MARIO alias buran http://www.ariva.de/…/nur-ein-boersenboard-gefuehrt-von-www…
Deutsche Bundesbank - Startseite
Die Deutsche Bundesbank ist die Zentralbank der Bundesrepublik Deutschland. Zentrales Geschäftsfeld ist die Geldpolitik des Eurosystems.
BUNDESBANK.DE
https://www.facebook.com/mario.meierhof
achte er einfach auf die links
Mit freundlichen Grüssen Mario Meierhof 39517 Lüderitz Gartenstrasse 6
mariomeierhof@web.de
Tel.:039361/96548 Atelier Meierhof 039361/51273 Kuhle
gez MARIO alias buran http://www.ariva.de/…/nur-ein-boersenboard-gefuehrt-von-www…
Deutsche Bundesbank - Startseite
Die Deutsche Bundesbank ist die Zentralbank der Bundesrepublik Deutschland. Zentrales Geschäftsfeld ist die Geldpolitik des Eurosystems.
BUNDESBANK.DE
https://www.facebook.com/mario.meierhof
buran: auch ich war im Erziehungsheim lange eine Ewigkeit 228.10.14 20:01 #1
Mario Meierhof
29. September um 21:38 ·
buran: nur ein börsenboard geführt von www.bundesbank.de 21:18 #1
achte er einfach auf die links
Mit freundlichen Grüssen Mario Meierhof 39517 Lüderitz Gartenstrasse 6
mariomeierhof@web.de
Tel.:039361/96548 Atelier Meierhof 039361/51273 Kuhle
gez MARIO alias buran http://www.ariva.de/…/nur-ein-boersenboard-gefuehrt-von-www…
Deutsche Bundesbank - Startseite
Die Deutsche Bundesbank ist die Zentralbank der Bundesrepublik Deutschland. Zentrales Geschäftsfeld ist die Geldpolitik des Eurosystems.
BUNDESBANK.DE
https://www.facebook.com/mario.meierhof
http://www.ariva.de/forum/...rziehungsheim-lange-eine-Ewigkeit-510117
Mario Meierhof
29. September um 21:38 ·
buran: nur ein börsenboard geführt von www.bundesbank.de 21:18 #1
achte er einfach auf die links
Mit freundlichen Grüssen Mario Meierhof 39517 Lüderitz Gartenstrasse 6
mariomeierhof@web.de
Tel.:039361/96548 Atelier Meierhof 039361/51273 Kuhle
gez MARIO alias buran http://www.ariva.de/…/nur-ein-boersenboard-gefuehrt-von-www…
Deutsche Bundesbank - Startseite
Die Deutsche Bundesbank ist die Zentralbank der Bundesrepublik Deutschland. Zentrales Geschäftsfeld ist die Geldpolitik des Eurosystems.
BUNDESBANK.DE
https://www.facebook.com/mario.meierhof
http://www.ariva.de/forum/...rziehungsheim-lange-eine-Ewigkeit-510117
Ein Trend ist die aus der Vergangenheit und Gegenwart abzuleitende zukünftige Kursentwicklung eines Wertpapieres in eine bestimmte Richtung (auch anhand von grafischen Darstellungen oder Charts). Es wird zwischen Aufwärts-, Abwärts- und Seitwärtstrend unterschieden. http://www.ariva.de/extras/lexikon.m?begriff=Trend
::::::::::::::::: 0,0003 $ +50,00% +0,0001 $
In Euro: 0,0003 € | Nasdaq OTC Other, 13.02.15::::: Kosmonova buran
In Euro: 0,0003 € | Nasdaq OTC Other, 13.02.15::::: Kosmonova buran
S&P dank guter Apple-Laune
22:24 18.05.15
NEW YORK (dpa-AFX) - Nach einem verhaltenen Start ist am Montag doch noch über weite Strecken Schwung in die Börsen an der Wall Street gekommen. Der Dow übersprang erstmals die 18 300 Punkte-Marke, konnte sie allerdings bis Handelsschluss nicht halten. Der S&P-500-Index ließ sich von dem neuerlichen Rekordlauf mitreißen und erklomm ebenfalls einen Höchststand. Aussagen von Aktionär Carl Icahn zu Apple hätten letztlich dem gesamten Handel positive Impulse beschert, hieß es am Markt. Erneut enttäuschende Daten vom Immobilienmarkt seien weitgehend ignoriert worden. http://www.ariva.de/news/...ow-und-S-P-dank-guter-Apple-Laune-5370718
22:24 18.05.15
NEW YORK (dpa-AFX) - Nach einem verhaltenen Start ist am Montag doch noch über weite Strecken Schwung in die Börsen an der Wall Street gekommen. Der Dow übersprang erstmals die 18 300 Punkte-Marke, konnte sie allerdings bis Handelsschluss nicht halten. Der S&P-500-Index ließ sich von dem neuerlichen Rekordlauf mitreißen und erklomm ebenfalls einen Höchststand. Aussagen von Aktionär Carl Icahn zu Apple hätten letztlich dem gesamten Handel positive Impulse beschert, hieß es am Markt. Erneut enttäuschende Daten vom Immobilienmarkt seien weitgehend ignoriert worden. http://www.ariva.de/news/...ow-und-S-P-dank-guter-Apple-Laune-5370718
Datum Erster Hoch Tief Schluss Stücke Volumen
13.11.15 0,0001 0,0001§0,0001 0,0001 $ 10.000 1
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13.11.15 0,0001 0,0001§0,0001 0,0001 $ 10.000 1
GrB
:::::::::: 0,0001 $ 0,00% +0,00 $
In Euro: - € | 02.02.17 Nasdaq OTC Other ,GrB
In Euro: - € | 02.02.17 Nasdaq OTC Other ,GrB
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