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Ecominas Corp. (ILXP) has filed an amended registration to conduct a primary, self-underwritten offering of up to 40,000,000 shares of common stock at a fixed price of $0.01 per share, for maximum gross proceeds of $400,000. The offering is on a best-efforts, no-minimum basis, with no escrow, so investor funds become available to the company as subscriptions are accepted and are generally non‑refundable.
Before the offering, Ecominas has 48,215,467 shares outstanding, no revenue under its current mining‑services business plan, cash of $766, a working capital deficit of $483,351, and an accumulated deficit of $5,509,482; its auditor has expressed substantial doubt about its ability to continue as a going concern. The company operates from Venezuela, plans to provide mineral‑processing services using rented equipment, and may need additional financing even if the offering is fully subscribed. Control is highly concentrated: after the maximum offering, management would still own about 54.6% of common stock, and the CEO holds 5,000,000 Series B Preferred shares with 1,000,000,000 votes, effectively retaining voting control. The stock trades thinly on the OTCIQ Basic Market as a penny stock, and the company highlights significant risks including severe dilution, illiquidity, political and sanctions risk tied to Venezuela, lack of operating history, and reliance on future capital raises.
Ecominas Corp, an early-stage mining services and mineral-processing company, reported no revenue for the three and six months ended June 30, 2026 and a net loss of $20,602 for the quarter and $54,290 for the first half, compared with losses of $5,778 and $18,756 a year earlier.
At June 30, 2026, the company had $766 in cash, current liabilities of $484,117 and a stockholders’ deficit of $483,351, with an accumulated deficit of $5,509,482. Management states these conditions raise substantial doubt about its ability to continue as a going concern and notes reliance on demand notes payable, including $163,710 at 10% interest to a single lender and $68,785 in related-party notes at 0% interest.
The business remained pre-revenue, focused on developing its mining-services model and an Asset Purchase Agreement that had not closed by June 30. Subsequent to quarter-end, Ecominas completed a 1-for-500 reverse stock split, issued 36,000,000 and 12,000,000 restricted common shares to two executives (bringing total common shares to 48,215,467), and closed an amended asset purchase by issuing 700,000 Series A preferred shares for technology and real-property interests.
Ecominas Corp., an early-stage mining-services and mineral-processing company focused on third‑party operators in Latin America, plans a primary offering of up to 40,000,000 common shares at $0.01 each, for maximum gross proceeds of $400,000. The offering is best‑efforts with no minimum, self‑underwritten by officers, and no escrow; funds become available as subscriptions are accepted and are generally not refundable.
Before the offering, 48,215,467 common shares are outstanding. If fully sold, outstanding common shares would rise to 88,215,467, while CEO Ricardo Enrique Silva Canelon would still retain voting control through 5,000,000 Series B Preferred shares carrying 1,000,000,000 votes. The company has no revenue, no cash or other recorded assets, current liabilities of $462,749, and an accumulated deficit of $5,488,880, and its auditors have expressed substantial doubt about its ability to continue as a going concern.
Proceeds are intended for equipment rental and deployment, project evaluation and mobilization, contractors and technical personnel, public‑company and regulatory costs, and working capital. The stock trades on the OTCID Basic Market under “ILXPD” and is expected to change to “ECOC”; trading has been limited and highly volatile.
Ecominas Corp. approved an unregistered equity compensation issuance to its two top executives. On July 21, 2026 the board ratified granting an aggregate 48,000,000 restricted common shares, par value $0.0001, under Executive Employment Agreements effective July 17, 2026.
Chief executive and board chair Ricardo Enrique Silva Canelon receives 36,000,000 restricted shares, and chief operating officer and director Andrew Gaudet receives 12,000,000 restricted shares, as compensation for services during the 12‑month term ending July 16, 2027. Both executives receive no cash salary for this period.
The shares are fully earned, vested and issuable upon execution of the agreements and board approval, with no cash consideration paid to the company. Early termination generally does not require forfeiture of the shares except in cases such as fraud, willful misconduct or breach of fiduciary duty. The company is issuing the restricted securities in book‑entry form under the private‑offering exemption in Section 4(a)(2) of the Securities Act of 1933, without underwriters or commissions.
Ecominas Corp reported no revenue for the quarter ended March 31, 2026 and remains pre‑revenue. Operating expenses rose to $30,835, mainly from higher professional and accounting fees, leading to a net loss of $33,688 versus $12,978 a year earlier.
The balance sheet shows no assets and total liabilities of $462,749, resulting in an accumulated deficit of $5,488,880 and a working capital deficit of $462,749. The company funded operations through new promissory notes, including $35,124 issued during the quarter at a 10% interest rate, all due on demand.
Management states that these losses and deficits raise “substantial doubt” about the company’s ability to continue as a going concern and that continued operations depend on securing new financing, which is not yet committed. Internal control over financial reporting and disclosure controls were evaluated as not effective due to limited resources, lack of segregation of duties, and the absence of an audit committee.
Ecominas Corp. filed an amended Form 10 to register its common stock under Section 12(g) following a February 2026 name change and change of control. The company has shifted to a mining services and mineral processing business and reports it is in early stages with no revenue and operating losses.
The filing discloses 107,670,830 shares outstanding as of March 31, 2026, a controlling holder with approximately 81,000,000 shares, and audited net losses of $46,402 for the year ended December 31, 2025. The auditor includes a going concern paragraph.
Ecominas Corp. files a Form 10 registration to become a reporting company under Section 12(g) of the Exchange Act.
The company has amended its name to Ecominas Corp. and is pursuing a FINRA corporate action to change its OTC trading symbol from ILXP to ECMC (or alternate symbols). The business has shifted to mining services and mineral processing following a February 2026 change of control and an asset acquisition related to mining operations.
Ecominas is an early-stage services provider that has not generated revenue, has incurred recent losses, and had 107,670,830 shares outstanding as of February 23, 2026. A single holder beneficially owns approximately 75.22% of voting power.