MineralRite Corporation filings document an OTC mining and metals issuer with common stock quoted under RITE and multiple preferred stock series. The company’s regulatory record includes Form 8-K material-event reports, Regulation FD updates, Form 10 reporting matters, securities registration information, and capital-structure disclosures.
Recent filings describe mineral lease arrangements through subsidiary Peeples, Inc., Skull Valley project matters, SEC staff review activity, share reclamation to treasury, preferred-stock dilution mechanics, private offering activity, shareholder communications, governance matters, and exhibits related to material agreements and press releases.
MINERALRITE Corp repurchased 3,919,388 Series NMC Preferred shares from Abstract Holdings 1618, LLC on September 30, 2026, for a non-interest-bearing promissory note of $106,724,942, approximately $27.23 per share. The note was applied that day to warrant exercise prices and certain royalty repurchase prices, then cancelled; no cash was exchanged.
Ten-percent owner Lloyd Bernard Hendricks III reported indirect warrant exercises by Abstract Holdings for 6,900,000 Series NMC Preferred shares at $15 per share, and by Abstract Concepts 1618, LLC and Commodity Capital Advisors, LLC for 47,600 and 5,900 Series D Preferred shares, respectively, at $25 per share. The shares are issuable upon effectiveness of MINERALRITE's Restated Certificate of Formation. Abstract Holdings is wholly owned by Abstract Concepts, which Hendricks owns and controls; Abstract Concepts manages Commodity Capital Advisors. Hendricks disclaims beneficial ownership except to the extent of his pecuniary interest.
MineralRite Corporation repurchased 3,919,388 Series NMC Preferred shares from Abstract Concepts 1618 LLC for an aggregate repurchase price of $106,724,942 on September 30, 2026. The Company issued a non-interest-bearing note for the price; the note was applied to royalty-interest repurchases and warrant exercise prices, then fully satisfied and cancelled. The integrated transaction required no corresponding cash payment, and RITE received no cash proceeds from the warrant exercises.
The agreement permanently caps the sinking-fund amount payable for the covered shares at $269,049,058.76, stopping further 5% annual accretion. After the repurchase and warrant exercises, 9,880,612 Series NMC shares are expected to be outstanding, all held by Abstract. The 6,900,000 Series NMC and 53,500 Series D shares from exercised warrants will be issued upon effectiveness of the Restated Certificate and when duly authorized and available. If the outstanding preferred shares are converted rather than repurchased under the sinking fund, MineralRite says the transaction avoids approximately 2.0 billion common shares versus full warrant exercise without a repurchase. Abstract, owned and managed by Lloyd B. Hendricks III, is a related party because it beneficially owns more than 5% of RITE common stock.
MineralRite Corporation remained pre-revenue in Q2 2026, reporting a net loss of $206,878 for the quarter and $353,773 year-to-date, both larger than the prior-year periods. Expenses rose mainly from legal and professional services, project development, and office and insurance costs.
Total assets were $247.7 million, driven by about $246.0 million of mineral assets from the Peeples tailings acquisition, against total liabilities of $5.1 million. Cash was only $9,580, and management states current cash will not fund 12 months of operations, resulting in an explicit going concern warning and reliance on new capital.
The capital structure is highly dilutive: 6.25 billion common shares outstanding and instruments that could add roughly 14.16 billion more shares on full conversion or exercise, exceeding authorized common stock. Management is seeking shareholder approval to increase authorized capital. A material weakness persists in internal controls over non-routine, complex accounting transactions as the company refines accounting for mineral asset acquisitions.
MINERALRITE Corp insider Hendricks Lloyd Bernard III filed an initial ownership report as a ten percent owner of the company. The filing shows only existing holdings, all reported as indirect through entities including Abstract Holdings 1618, LLC, Abstract Concepts 1618, LLC, and Commodity Capital Advisors, LLC.
The disclosed positions include common stock, preferred stock, and several warrants and options. Indirect holdings comprise 147,500,000 shares of common stock and 758,267,040 shares of common stock, plus preferred Series NMC and Series C interests and related derivative securities with specified exercise prices and expiration dates.
MINERALRITE Corp investor Lloyd B. Hendricks III filed a Schedule 13D reporting beneficial ownership of 6,900,000 Series NMC Preferred shares, representing 100% of that class. The shares were acquired in a private transaction on May 6, 2026 at $36.23 per share through his affiliated entities.
Hendricks states the holdings are for investment purposes only. He indicates he does not exercise management control over MineralRite but provides consulting services to the issuer via his company, Abstract Concepts 1618, LLC. No additional contracts or arrangements regarding these securities are disclosed.
Lloyd B. Hendricks III filed a Schedule 13D reporting beneficial ownership of 1,545 Series C Preferred shares of MINERALRITE Corp, representing 14.66% of that class. He reports both sole and shared voting and dispositive power over these shares.
The stake was acquired using personal and business assets, by exercising outstanding options at $120 per share on several dates in May and June 2026. Hendricks states the holdings are for investment purposes only and that he does not exercise management control of the company, although he provides consulting services through Abstract Concepts 1618, LLC.
MINERALRITE Corp received a large shareholder disclosure from investor Lloyd B. Hendricks III, who reported beneficial ownership of 905,767,040 common shares, representing 14.5% of the outstanding common stock. This stake is held for investment purposes using personal and business assets.
Hendricks reports both sole and shared voting and dispositive power over the same 905,767,040 shares, indicating significant influence over how these shares are voted and whether they are sold. He states he does not exercise management control of the company and provides consulting services to the issuer through Abstract Concepts 1618, LLC. No additional contracts, arrangements, or related exhibits are disclosed.
MINERALRITE Corp director, President and CEO James Burgauer exercised options to acquire 175 shares of Series C Preferred stock at $120.00 per share on June 8, 2026. This was reported as an exercise or conversion of a derivative security rather than an open-market purchase.
Following the transaction, Burgauer directly holds 6,815 shares of Series C Preferred and 185 options to purchase Series C Preferred, according to the filing. The activity reflects a compensation-related derivative exercise, with no reported open-market buying or selling.
MineralRite Corporation announced that prior financial statements can no longer be relied on and has filed amended reports after changing how it accounts for its acquisition of Peeples Inc. and California Precious Metals LLC from a business combination to an asset acquisition under ASC 805-50.
Following this change and updated valuation work under ASC 805-50 and ASC 820, the recorded carrying value of the acquired assets was reduced from approximately $432 million to approximately $246 million, a decrease of about $186 million, driving material changes to balance sheet presentation, additional paid-in capital, stockholders’ equity, risk factors, and note disclosures.
The company states these issues are non-cash accounting and presentation matters and do not involve fraud, cash irregularities, revenue recognition problems, or operational misconduct. MineralRite is early-stage with no revenue-generating operations and has not established mineral resources or reserves under Regulation S-K Subpart 1300. The SEC review of its Form 10 and related filings remains ongoing, and MineralRite cannot predict the timing, resolution, or outcome.
MineralRite Corporation filed an amended quarterly report to restate its March 31, 2026 financial statements after changing the accounting for its acquisition of Peeples, Inc. from a business combination to an asset acquisition. This reduced recorded mineral assets by $186,000,000 and lowered additional paid‑in capital and total shareholders’ equity by the same amount, with total equity now reported at $242,704,372.
The company generated no revenue in the quarter and reported a net loss of $146,895, or a basic and diluted loss per share of $(0.000024). Cash was only $22,397 at March 31, 2026, and management states there is substantial doubt about the company’s ability to continue as a going concern without new funding. Liquidity has been supported mainly by issuing Series C Convertible Preferred Stock and small debt lines, while large mineral assets remain non‑producing and carried at accounting fair value rather than SEC‑compliant reserves.