OTC Bulletin Board

S & P Company Insight for PACIFIC COPPER CORP.
 
 Profile

 
Business Summary: Pacific Copper Corp. engages in the exploration and development of mineral properties primarily in South America. It principally explores for copper. The company was formerly known as Gate-1 Financial, Inc. and changed its name to Pacific Copper Corp. in August 2006. Pacific Copper Corp.
 
Address
  3040 N Campbell Ave Ste 110
  Tuscon , AZ 85719
  Phone: 520-989-0021
  Fax: 520-623-3326
  Website: http://www.pacificcopper.com
Auditor
  SCHWARTZ LEVITSKY FELDMAN
  Toronto
Transfer Agent
  Olde Monmouth Stock Transfer Co., Inc.
ShareHolders:  627
Founded:  1999
Domicile:  Delaware
 
  
 
 Background

 
Pacific Copper Corp. engages in the exploration and development of mineral properties primarily in South America. It principally explores for copper. The company was formerly known as Gate-1 Financial, Inc. and changed its name to Pacific Copper Corp. in August 2006. Pacific Copper Corp. was founded in 1999 and is headquartered in Tucson, Arizona.
History:  INCORPORATED in Delaware May 18, 1999 as Gate-1 Financial, Inc. Name changed to Pacific Copper Corp. Sept. 23, 2006. October 20, 2006, purchased a 100% interest in a group of mineral claims collectively known as the Mazama Claims, located in Okanogan County, WA, for a total consideration of $500,000, consisting of 5,000,000 Common shares. December 17, 2007, completed the acquisition of Pacific Copper Peru SRL (Peru SRL). The company issued 4,850,000 Common shares to the partners of Peru SRL as consideration for the acquisition of 99% of Peru SRL. As a result of the acquisition, Peru SRL became a subsidiary of the company. The shares issued by the company were placed in escrow. January 8, 2008, acquired Sociedad Pacific Copper Chile Limitada (Pacific LTDA). The company issued 6,088,452 Common shares to the former partners of Pacific LTDA as consideration for the acquisition of 99% of Pacific LTDA. As a result of the acquisition, Pacific LTDA became a subsidiary of the company. The shares issued by the company were placed in escrow.
 
Subsidiaries:
Pacific Copper Peru SRL
Sociedad Pacific Copper Chile Limitada
 
 
 
 
  
 
 Management

 

Management
OfficersPosition
 Andrew  BrodkeyChairman, President & Chief Executive Officer
 Rakesh  MalhotraChief Financial Officer
 Roger M. HallChief Operating Officer
 Jodi  HendersonSecretary

Directors
 Andrew  Brodkey
 Eduardo  Esteffan
 Harold  Gardner
 David  Hackman
 George F. Orr
 M. Elden Schorn
 William Gordon Timmins
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20082007
EXPENSES
Project Expense(2,000,180)(1,606,564)
General and Administrative(2,966,670)(1,388,014)
Amortization(41,949)(709)
Other Income Interest-54,508
Other Expense-Interest(7,473)-
Other Expense-derivatives(39,375)-
Mineral Claims Acquisition Cost Expense(5,523,871)-
Earnings before Taxes(10,579,518)(2,940,779)
TAXES AND OTHER EXPENSES
Minority Interest (After Tax)356-
Net Income (Loss)(10,579,162)(2,940,779)
SUPPLEMENTARY INFO
Operating Income (Loss)(10,532,670.00)(2,995,287.00)
Basic and diluted EPS - Continuing Operations(0.26)(0.12)
 
Balance Sheet
  20082007
CURRENT ASSETS
Cash and Cash Equivalents110,7461,617,344
Prepaid Expenses and Other Receivables35,15772,148
Advance to a Related Party175,000-
Total Current Assets320,9031,689,492
NON CURRENT ASSETS
Mining Claims600-
Plant and Equipment, Net155,44338,206
Total Assets476,9461,727,698
CURRENT LIABILITIES
Accounts Payable297,370314,047
Accrued Liabilities65,85223,265
Accrued Professional Fees20,00020,000
Advances from Non-related Party259,244-
Advances from Related Party70,000-
Derivative Financial Instruments101,250-
Total Current Liabilities813,716357,312
NON CURRENT LIABILITIES
Convertible Notes32,708-
Minority Interest54,950-
SHAREHOLDERS' EQUITY
Common Stock - Par Value4,4562,915
Additional Paid in Capital13,893,2006,028,123
Deficit Accumulated during the Exploration Stages(14,177,315)(3,598,153)
Accumulated Other Comprehensive Income1,064-
Deferred Stock Compensation(145,833)(1,062,499)
Total Shareholders Equity(424,428)1,370,386
Total Liabilities & Shareholders Equity476,9461,727,698
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2009   1Nil
  2009   2Nil
  2009   3Nil
  2008   1Nil
  2008   2Nil
  2008   3Nil
  2008   4Nil
  2008   Full Year Nil
  2007   1Nil
  2007   2Nil
  2007   3Nil
  2007   4Nil
  2007   Full Year Nil
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2009   1Nil
  2009   2Nil
  2009   3Nil
  2008   1Nil
  2008   2Nil
  2008   3Nil
  2008   4Nil
  2008   Full Year (10,580,000)
  2007   1(120,000)
  2007   2(140,000)
  2007   3(590,000)
  2007   4(2,080,000)
  2007   Full Year (2,940,000)
  2006   Full Year (650,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2009   1(.02)
  2009   2(.01)
  2009   3(.01)
  2008   1(.21)
  2008   2(.03)
  2008   3(.02)
  2008   4(.03)
  2008   Full Year (.26)
  2007   1(.01)
  2007   2(.01)
  2007   3(.02)
  2007   4(.07)
  2007   Full Year (.12)
  2006   4(.07)
  2006   Full Year (.08)
  2005   Full Year Nil
 
  
 
 Stock Data

 
 
Capitalization as of 04/30/2009:
 
 Authorized SharesOutstanding Shares
Common $0.0001 par200,000,00044,561,600
Preferred $0.0001 par50,000,000None
 
LONG TERM DEBT: $43,252.
 
Common $0.0001 par
 
COMMON SOLD PRIVATELY: In September and October 2006, the company issued 4,710,000 Common shares in the aggregate at $0.10 per share, for gross proceeds of $471,000. In March 2007, the company completed two separate private placements of 1,000,000 shares each at $0.10 per share, resulting in gross proceeds of $200,000. Net proceeds from the sale of the shares were to be applied to exploration programs on the company's Mazama Claims, and for general working capital purposes. UNITS SOLD PRIVATELY: During the three months ended Apr. 30, 2008, the company, through private placements, issued 3,157,143 Units at $0.35 per Unit. Each Unit consisted of one Common share and one-half of a Common share purchase warrant. Each full warrant is exercisable for one Common share at $0.50 per share on or before Apr. 30, 2010. The private placement was undertaken entirely outside the U.S. pursuant to Regulation S.
 
Stockholders:  10/31/2008, 627.
Transfer Agent:  Olde Monmouth Stock Transfer Co., Inc.   Atlantic Highlands , NJ
 
OTC Bulletin Board( Primary): PPFP
 
ExchangeYearHighLow
OTC Bulletin Board20080.60000.0400
OTC Bulletin Board20070.75000.2500
 
DIVIDENDS: Common $0.0001 par: 2007, None; 2008, None.