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BTLN Brightlane

Brigthlane Corp. (“we”, the “Company”, “us” or the “Registrant”) was incorporated under the laws of the State of Delaware in December 2006 under the name “Cold Gin Corporation.” On December 27, 2010, we entered into an Agreement and Plan of Reorganization with Bonanza Gold Corp., a wholly-owned subsidiary of the Company, pursuant to which we merged with and into Bonanza Gold Corp, with Bonanza Gold Corp. being the surviving corporation. In connection with the reincorporation merger we changed our domicile from Delaware to Nevada, our name to Bonanza Gold Corp. and each outstanding share of our common stock was exchanged for one hundred fifty shares of the common stock of the Nevada entity. Thereafter, our trading market experienced some unusual activity. In an effort to stabilize the market, we effectuated a 150:1 reverse stock split on March 4, 2011.

Company profile

Ticker
BTLN
Exchange
CEO
Stephen C. Helm
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
BONANZA GOLD CORP., COLD GIN CORP
SEC CIK
IRS number
208560967

BTLN stock data

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Calendar

13 May 20
22 Oct 21
31 Dec 21
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
4 Jun 20 Hellwig Peter Martin Common Shares Other Dispose J Yes No 0 6,060,000 0 0
13 May 20 David Hill II Common Shares Other Dispose J Yes No 0 2,133,618 0 4,800,640

Financial report summary

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Management Discussion
  • For the year ended December 31, 2018, as compared to the year ended December 31, 2017, total revenues were $206,881 and $133,328, respectively; and net losses from continuing operations were $405,854 and $436,286 respectively.
  • Total revenue for the year ended December 31, 2018 was primarily attributable to rental and management fee income recognized from the operations of our Brightlife Management subsidiary, interest income on our note receivables and sale of real estate.  For the year ended December 31, 2018 we had income from fees collected of $8,595, generated an additional $40,547 in tenant income, and interest on our note receivables of $21,909, and we sold three real estate properties for net proceeds of $135,830 (after closing costs).  The real estate property sold had an cost basis of $47,500, resulting in gross profit to the Company of $88,330 from sales of real estate.  During the year ended December 31, 2018 and 2017 we had selling, general and administrative expenses from continuing operations of $469.277 and $453,745 respectively.  During the year ended December 31, 2018 and 2017 we incurred interest expenses of $95,958 and $51,469 respectively.
  • The net losses were attributable to operating expenses and other expenses that primarily consisted of expenses related to the implementation of the Company’s business model of a lease-to-own real estate business in addition to payroll, accrual in management fees, employee benefits, the acquisition and management of real estate, rent expenses for our facilities, interest expense on our line of credit, and accrued interest on our notes payable.  
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
Removed: planned