CEO Corner – August 1, 2024
SEC Form 10 Filing and Series A Preferred Share Cancellation

In the interest of continuing transparency, I am pleased to announce that Atacama has taken a significant step forward in how the company reports quarterly and year-end financial statements.  In 2017 Atacama Resources filed a Form 15 Certification of Termination of Registration. For the last six years, Atacama has been an OTC Current Filer, with the quarterly and annual statements not being audited.

On July 30, 2024, the company filed the SEC Form 10 Registration Statement that, after the appropriate Securities and Exchange Commission review, reinstates Atacama as an SEC Registered Current Filer with registered securities after 60 days.

This means that Atacama will file 10Q’s and 10K’s directly with the SEC through EDGAR.  The 10Q’s will be reviewed by our PCAOB Auditor and the 10K’s will be audited by our PCAOB auditor.  These filings will be shared with Canada’s SEDAR+. 

The shareholder advantages of Atacama Resources being reinstated as a company registered with the SEC are outlined in various SEC Regs and include:

1.      The outstanding Atacama shares will be considered by the SEC to be registered.

2.      The company becomes an SEC-registered filer and enjoys the elevated status of committing to audited statements through EDGAR filings.

3.      Day traders and short sellers are more likely to focus on small caps that have unaudited statements and do not file 10Q’s and 10K’s through EDGAR.

On another topic, the amended bylaws of the corporation in 2016 included ten Series A Preferred control shares. These were intended to prevent a hostile takeover but also conveyed super-voting rights that could be abused.  Two A shares were issued, with one A share already canceled.  Glenn Grant had the remaining outstanding A share and on July 29, 2024, Glenn had the share canceled.  There are no longer any outstanding Preferred A shares.  This is a powerful shareholder rights issue.

Overall, these actions are being taken not only to make Atacama a more shareholder-friendly company but also to enhance Atacama’s stature in the mining exploration industry in North America.

Regards,
Glenn