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NMCX -- NMC Inc.
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http://www.nmcinc.com/news040110.html
NMC, Inc.
Statement to Shareholders
April 1, 2010
NMC Inc. Shareholders:
As most all our patient shareholders are aware, maximizing the return on all of our investments has always been our mission and now has become a quest. To that end, we continue to do the right things, the right way and therefore, have achieved several milestones along the way:
And now, on 3-31-10, the lease for the adjacent 377 acres in the Copper Basin , Skull Valley Arizona site HAS BEEN RENEWED.
The renewed lease will allow us to re-direct our marketing efforts and to re-contact mining firms and/or joint venture partners who were not interested in only ore concentrates. We are pleased that the Arizona State Land Department has been so cooperative in granting this lease which will remove obstacles we have been facing in our sales efforts while providing additional options to a possible sale or joint venture.
While I am personally thrilled with this latest blessing, I remain cautiously optimistic as our greatest challenge continues to be assisting the potential buyers in obtaining financing when credit remains so tight as many mining companies have limited liquidity. That said, we would be open to receiving a substantial down payment which could then be distributed to our shareholders via a dividend plus a stock swap with a solid, publically held, mining firm - which is much more attractive to all parties.
Please know that this lease could not have been granted without the tremendous contributions of our Project Manager, Pete Rushbrook and our Webmaster, Jim Richardson who helped prepare the NMC Mine Operating Plan (MOP) and what you see on our website. I believe that this huge milestone would not have been achieved without the support of Senator of Arizona, Steve Pierce (introduced by Pete Rushbrook), the Arizona Governor’s Office (represented by Mike Anable), the Commissioner, Maria Baier and Joe Dixon, Minerals Manager of the Arizona State Land Department; and most of all, our LORD, as I believe that HE has a hand in our company. Your continued prayer and support is greatly appreciated.
In Your Service,
Michael Sheppard, President
/s/
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Information from Pink Sheets:
http://pinksheets.com/pink/quote/quote.jsp?symbol=nmcx#getCompanyInfo
WARNING: RATED CAVEAT EMPTOR by Pink Sheets
2005 Info from Arizona State Land Commission
http://jimewescamp.250x.com/nmcxinfo.pdf
NMC, Inc.
2711 Cool Lilac Ave.
Henderson, NV 89052
http://www.nmcinc.com
* Phone: 702-837-1163 ***THIS NUMBER IS DISCONNECTED***
Disclosure Category
No Information
State Of Incorporation
NV
*
Jurisdiction Of Incorporation
USA
*
Company Officers
Michael D. Sheppard, CEO, Chairman
*
SEC Reporting Status
non-SEC Reporting Company
*
Fiscal Year End
12/31
*
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NEVADA SECRETARY OF STATE INFORMATION
Business Entity Information
Status: Default on 5/1/2007 File Date: 4/3/1984
Type: Domestic Corporation Corp Number: C2341-1984
Qualifying State: NV List of Officers Due: 4/30/2007
Resident Agent Information
Name: NEVADA AGENCY & TRUST COMPANY Address 1: 50 WEST LIBERTY STREET
Address 2: SUITE 880 City: RENO
State: NV Zip Code: 89501
Financial Information
No Par Share Count: 0 Capital Amount: $ 7,600,000.00
Par Share Count: 6,500,000,000.00 Par Share Value: $ 0.001
Par Share Count: 1,100,000,000.00 Par Share Value: $ 0.001
Officers Include Inactive Officers
ACTIVE Director - GEORGE BROWN
Address 1: 190 BETHLEHEM PIKE #1 Address 2:
City: COLMAR State: PA
Zip Code: 18915 Country:
Status: Active Email:
ACTIVE President - MICHAEL D SHEPPARD
Address 1: 4229 WARREN ROAD Address 2:
City: FRANKLIN State: TN
Zip Code: 37067 Country: USA
Status: Active Email:
ACTIVE Treasurer - MICHAEL D SHEPPARD
Address 1: 4229 WARREN ROAD Address 2:
City: FRANKLIN State: TN
Zip Code: 37067 Country: USA
Status: Active Email:
ACTIVE Secretary - MICHAEL D SHEPPARD
Address 1: 4229 WARREN ROAD Address 2:
City: FRANKLIN State: TN
Zip Code: 37067 Country: USA
Status: Active Email:
ACTIVE Director - THOMAS J SMITH, JR
Address 1: 1816 OLD NACHEZ TRACE Address 2:
City: FRANKLIN State: TN
Zip Code: 37064 Country:
Status: Active Email:
HISTORICAL President - MICHAEL D SHEPPARD
Address 1: 4229 WARREN ROAD Address 2:
City: FRANKLIN State: TN
Zip Code: 37067 Country: USA
Status: Historical Email:
HISTORICAL Treasurer - MICHAEL D SHEPPARD
Address 1: 4229 WARREN ROAD Address 2:
City: FRANKLIN State: TN
Zip Code: 37067 Country: USA
Status: Historical Email:
HISTORICAL Secretary - MICHAEL D SHEPPARD
Address 1: 4229 WARREN ROAD Address 2:
City: FRANKLIN State: TN
Zip Code: 37067 Country: USA
Status: Historical Email:
HISTORICAL Director - MICHAEL D SHEPPARD
Address 1: 4229 WARREN ROAD Address 2:
City: FRANKLIN State: TN
Zip Code: 37067 Country: USA
Status: Historical Email:
Actions\Amendments
Action Type: Amended & Restated Articles
Document Number: 20070320762-59 # of Pages: 6
File Date: 05/07/2007 Effective Date:
Previous Stock Value: Par Value Shares: 4,500,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 4,500,000.00 New Stock Value: Par Value Shares: 6,500,000,000 Value: $ 0.001 Par Value Shares: 1,100,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 7,600,000.00
Action Type: Annual List
Document Number: 20060240097-70 # of Pages: 2
File Date: 04/17/2006 Effective Date:
(No notes for this action)
Action Type: Amended List
Document Number: 20050199459-44 # of Pages: 1
File Date: 05/27/2005 Effective Date:
(No notes for this action)
Action Type: Annual List
Document Number: 20050113632-53 # of Pages: 1
File Date: 03/29/2005 Effective Date:
(No notes for this action)
Action Type: Amendment
Document Number: C2341-1984-018 # of Pages: 6
File Date: 01/06/2005 Effective Date:
CAPITAL STOCK WAS 1,500,000,000 @ .001 = $1,500,000 DEG
CERTIFICATE OF AMENDMENT FILED AMENDING STOCK. (FILING FEE $1650)
(12) PGS. DEG
Action Type: Annual List
Document Number: C2341-1984-002 # of Pages: 1
File Date: 04/21/2004 Effective Date:
List of Officers for 2004 to 2005
Action Type: Merger
Document Number: C2341-1984-016 # of Pages: 12
File Date: 09/09/2003 Effective Date:
ARTICLES OF MERGER FILED MERGING PEEPLES MINING COMPANY, A (NV) CORPORATION,
#C2180-97, INTO THIS CORPORATION. NAME CHANGE AMENDING WITHIN MERGER.
(1) PG. DEG
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SECRETARY OF STATE (ARKANSAS) INFO FOR NMC NEVADA
(Application for Authority to operate as a foreign corporation)
Jerry Haggard, Registered Agent (for Arkansas only) updated as of
October 6, 2007
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SECRETARY OF STATE INFORMATION FOR CALIFORNIA PRECIOUS METALS
**COULD NOT FIND SUCH A COMPANY IN TENNESSEE**
http://www.tennesseeanytime.org/soscorp/
Thus, this company is not authorized to do business in Tennessee
The company was registered in Nevada on July 10, 2007, as an LLC.
FILE NUMBER: E0495972007-3
Manager: Michael Sheppard
1946 Selby Avenue, Suite 306
Los Angeles, CA 90025
Registered agent: Acorn Corporate Services, Inc.
3225 McLeod Drive #110
Las Vegas NV 89121
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Public record information about Michael D. Sheppard, President
Michael D. Sheppard
Address on Nevada SOS appears to be his home address
Public deed shows that this property is jointly owned by him and Barbara Sheppard
Land size: 80,645 square feet Value: Approx. $498,000
Public deeds show other possible properties
Public records show three vehicles, all manufactured by Lexus
Public records show the following businesses possibly ran by Sheppard:
New Life Corporation of America Brentwood TN President 2001-2004
Lars Desert Oasis Suncare Products Nashville TN President 2001-2003
National Community Foundation Brentwood TN Contact 2002
Providential Properties Brentwood TN 1998
Nulife LLC Henderson TN 2001
Born: 1945
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NEW LIFE CORP. INFORMATION
If it is the same Michael D. Sheppard that operated New Life Corp., the following information is relevant:
1. New Life Corp. sold an investment program that came under regulatory scrutiny and resulted in a class action lawsuit.
2. Maine sanctioned New Life Corp./National Community Foundation for not having its agents registered:
3. Pennsylvania's Attorney General filed suit calling it an elaborate sales scheme:
http://www.nashvillepost.com/news/2004/10/28/updated_519_pm___penn_ag_accuses_new_life_corp_of_engaging_in_x2018elaboratex2019_scheme_
4. 1999 Forbes article about National Community Foundation/New Life
http://findarticles.com/p/articles/mi_kmfor/is_199909/ai_n15370240
5. 1999 article with comments from Mr. Sheppard
http://www.investmentnews.com/apps/pbcs.dll/article?AID=/19990308/SUB/903080722/-1/INIssueAlert04&template=printart
6. Class action lawsuit was filed against Sheppard and the company. It resulted in a settlement and an award of $232,000 in attorney fees to the plaintiff's counsel. The case was 2000cv6314 (Central District of California -- Los Angeles branch).
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P/R I/RCONTACT INFORMATION FROM LAST BUSINESSWIRE PRESS RELEASE:
CONTACT: Jordan Richard Assoc. LLC
Madeleine Franco, 702-256-4905
ir@jordanrichard.net
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LAWSUIT INFORMATION
The SEC filed suit in 2004 for stock fraud against the principles of this company. After several years of litigation, a jury determined that securities fraud violations occurred in connection with the marketing of the company's stock. Of course, the officers involved resigned from management of this company; however, the history of the suit provides reason to investigate the veracity of the company's claims and investor's should carefully analyze the lawsuit.
The suit is captioned S.E.C. v. Pietrzak & Furlong, Case 03C1507, United States District Court for the Northern District of Illinois
2007-Nov-11 Final Judgment by the Court
http://investorshub.advfn.com/boards/read_msg.asp?message_id=24621493
2007-Oct-11 S.E.C.'s Reply in Support of Motion for Permanent Injunction
http://investorshub.advfn.com/boards/read_msg.asp?Message_id=23660767
2007-Aug-03 S.E.C.'s press release announcing jury verdict finding fraud
http://investorshub.advfn.com/boards/read_msg.asp?Message_id=21846823
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NEWS and PRs
January 18, 2008 NMC publishes disclosure document
http://www.predictwallstreet.com/news/default.aspx?storyID=66976014&symbol=NMCX
September 13, 2007
NMC Provides Update (new subsidiary formed, website updated, unaudited financial info)
http://today.reuters.com/news/articleinvesting.aspx?view=PR&symbol=NMCX.PK&storyID=55619+13-Sep-2007+BW&type=qcna
May 1, 2007
NMC Provides Update
http://today.reuters.com/news/articleinvesting.aspx?view=PR&symbol=NMCX.PK&storyID=61068+01-May-2007+BW&type=qcna
April 5, 2007
NMC Reports on Shareholder Meeting (appoints five directors)
http://findarticles.com/p/articles/mi_m0EIN/is_2007_April_5/ai_n20510769
March 26, 2007
NMC Shareholders We Need Your Vote
http://findarticles.com/p/articles/mi_m0EIN/is_2007_April_5/ai_n20510769
February 17, 2007
NMC Provides Update (stock and debt cancellation)
http://findarticles.com/p/articles/mi_m0EIN/is_2007_Feb_13/ai_n20510751
April 27, 2005
NCM Inc. Statement Concerning Status of Unaudited Financial Statement
http://findarticles.com/p/articles/mi_m0EIN/is_2005_April_27/ai_n13655570
Nevada Secretary of State information:
NMC, Inc. Provides Update
Over-issuance of Common Stock
NMC, Inc. (Pink Sheets:NMCX) announced today that during the audit of the company's financial statements for the years ended December 31, 2004 and 2005, by the Public Companies Accounting Oversight Board (PCAOB)-registered accounting firm, the Company discovered that the number of shares issued by its in-house transfer agent exceeded the company's authorized shares of common stock. This over-issuance was disclosed in the Company's financial statements. Subsequent to the completion of the audit, the Company discovered a more recent over-issuance by its in-house transfer agent. These over-issuances totaled approximately 1.7 billion shares. Additionally, at the time the Company's prior board of directors created the Class A Preferred Shares in July of 2004, there were not, nor are there currently, a sufficient number of authorized shares of common stock to accommodate conversion of the approximately 400 million outstanding shares of Class A Preferred Stock (each of which converts into 5 shares of common stock), now held in a revocable trust by family members of a former officer, director and current shareholder of the Company.
Prior to the discovery of the greater imbalance between authorized shares and issued and convertible shares, the Company had prepared a letter to all shareholders, then intending to make its audited financial statements for 2004 and 2005 available. However, the aforementioned imbalance may require restatement of the Company's financial statements for the years ended December 31, 2004 and 2005.
Management is conducting an internal investigation of the facts surrounding the over-issuance and related matters. Once the board of directors has evaluated the circumstances and impacts of these issues, it will recommend corrective action. In the meantime, the board is exploring possible alternatives specific to the over-issuance, including without limitation, increasing the number of authorized shares and/or a reverse split, any of which would require a majority vote of the shareholders. Pending final resolution of these issues and subject to limitations under Nevada law, the Company expects to treat outstanding shares held by non-affiliates of the Company as having been validly issued.
The Company expects to make audited financial statements available after the resolution of these matters and completion of its audits, including an audit of 2006, by means of the filing of a Form 10 with the Securities and Exchange Commission (SEC).
Having accepted the resignation of its in-house transfer agent as a result of the aforementioned events and other problems, the Company has engaged the services of an external, independent transfer agent. The new transfer agent is expected to begin transfer duties for the Company in January 2007.
Without giving effect to the over-issuance and related issues that may have an effect, NMC, Inc. had an accumulated deficit of approximately $65.4 million at December 31, 2005, principally attributable to the writing off of acquired assets and operating expenses.
During the audit, three independent geologists and two assayers conducted four geological reviews and full custodial assays on all its properties, although only the Skull Valley property was verified for the purpose of the audit.
Buyer Payment
On December 23, the Company received a payment in the amount of $350,000 pursuant to an agreement for the sale of first-stage precious metals ore concentrates for a total purchase price of $500 million to a privately held entity. Per the agreement, additional installments on the down payment of $11 million are payable over the next 23-month period. After the $11 million down payment has been paid, the customer may begin taking prorated possession of the first-stage concentrated ore, and the remaining $489 million balance of the contract is to be paid over 8 years. There can be no assurances that this contract will be fulfilled in its entirety, and there is no prepayment penalty or limitation on assignability.
Civil Litigation
In March 2003, the SEC filed a civil action against two former officers and original members of the Board of Directors. This action continues, with a court hearing scheduled for March 19, 2007. These former officers and original members of the board of directors have resigned, and the Company is not a party to the litigation but has incurred and may continue to incur some expenses attributable to the litigation.
Form 10 Registration Statement
At the present time, management anticipates that a Form 10 Registration Statement--which is expected to contain audited financial information for the most recent three years ended December 31, 2006--will be submitted to the SEC no earlier than the second quarter of 2007.
Communication with Shareholders
In the interim period and prior to the effectiveness of a Registration Statement, the Company has been advised by its legal counsel to limit its news releases significantly; however, the Company anticipates that it will continue to keep the market informed of critical developments.
About NMC
NMC, Inc. has interests in mining and ore processing. In addition to its Skull Valley claims, the company owns 7 mining claims of 20 acres each in Mesquite, Nev. and 17 mining claims on 340 acres in San Bernardino County, Calif., in all of which it owns 100% of the mineral rights.
