MGNC Research | Milton Maxwell

MGNC

Mag Magna Corp.

1.2500

+0.2200+21.4%

Dec 16, 4:00:00 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

No earnings call transcript available

Key Stats

Market Cap

7.29M

P/E (TTM)

Basic EPS (TTM)

-0.02

Dividend Yield

Recent Filings

8-K

Secures $30M equity line, notes

3/9/26Mar 9, 2026

Mag Magna secured up to $30M in equity via a Purchase Agreement with Monroe Street Capital, effective February 25, 2026, allowing optional puts at 80% of recent lows during a 24-month commitment. It also issued $91K principal convertible notes (10% interest, 70% VWAP conversion) with warrants to Monroe and Lambda, netting $171K cash for working capital. Dilutive terms lock out rivals; shares issued upfront.

8-K

Director resigns, three appointed

2/13/26Feb 13, 2026

Mag Magna Corp. accepted director Michael D. Noonan's resignation for personal reasons on February 9, 2026; he remains CFO with no disputes. The board swiftly filled three vacancies, appointing Gonca Demir (healthcare exec), Daniel Marcus (financial markets vet), and Nicholas Gregory (crypto pioneer)—all ex-directors of T3 Defense Inc. New blood bolsters expertise. Board now complete.

8-K

Acquires rare earth mineral rights

1/27/26Jan 27, 2026

Mag Magna Corp. signed a purchase agreement on January 19, 2026, for mineral rights in 21 Illinois parcels and three Arizona mining claims, valued at $10.3M via $300K cash and 2M shares at $5/share. This pivots the company from chicken farming to rare earth exploitation, backed by new leadership: fintech vet Jamie Khurshid as CEO and CFO Michael Noonan. New board. Seller keeps 2% NSR royalty.

8-K

Sangha grabs 77% control

1/27/26Jan 27, 2026

Harpreet Sangha seized control of Mag Magna Corp. on December 24, 2025, snapping up 4,500,000 shares—77.20% of outstanding—for $415,000 ($240,000 cash, $175,000 secured note due in 60 days). Wang Gang resigned as all-around exec; Sangha stepped in as sole director and officer. New boss brings decades in resource financing. Control shares pledged as note collateral.

10-Q

Q2 FY2026 results

1/27/26Jan 27, 2026

Mag Magna Corp posted zero revenue in Q2 FY2026 ended October 31, 2025, down from $16M y/y, while trimming operating loss to $7.3k from $11k—mainly amortization. Six-month net loss hit $97.7k amid elevated G&A at $97.7k, versus $25.1k prior year. Related-party loan forgiveness boosted APIC by $137k, slashing liabilities to $157k from $228k; cash stayed nil, operations burned $81k. No cash flow or debt metrics disclosed. Shifted post-period to rare earth mining via January 2026 deal for Illinois/Arizona properties ($300k cash + 2M shares). Disclosure controls ineffective. Leadership churn persists.