20FR12G/A 1 form20fr12ga.htm FORM 20FR12G/A Prophecy Development Corp.: Form 20FR12G/A - Filed by newsfilecorp.com

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 20-F/A
(Amendment No. 1)

[X] REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934.

OR

[   ] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended __________________

OR

[   ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________________ to ____________________

OR

[   ] SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number:

PROPHECY DEVELOPMENT CORP.
(Exact name of Registrant as specified in its charter)

British Columbia, Canada
(Jurisdiction of incorporation or organization)

Suite 1610 - 409 Granville Street
Vancouver, British Columbia, Canada V6C 1T2
(Address of principal executive offices)

John Lee
Suite 1610 - 409 Granville Street
Vancouver, British Columbia, Canada V6C 1T2
Telephone: 604-569-3661
Email: info@prophecydev.com
(Name, Telephone, E-Mail and/or Facsimile number and Address of Company Contact Person)

Copy of communications to:
James Guttman
Dorsey & Whitney LLP


Brookfield Place 161 Bay Street, Suite 4310
Toronto, Ontario, Canada M5J 2S1
Telephone: (416) 367-7370
Facsimile: (416) 367-7371

Securities registered or to be registered pursuant to Section 12 (b) of the Act: None

Securities registered or to be registered pursuant to Section 12 (g) of the Act.

Common Shares without par value
(Title of Class)

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report: Not applicable.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
Yes [   ] No [X]

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Yes [   ] No [   ]

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes [   ] No [X]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
Yes [   ] No [X]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See the definition of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer [   ] Accelerated filer [   ] Non-accelerated filer [   ]
    Emerging growth company [X]

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [   ]

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

U.S. GAAP [   ] International Financial Reporting Standards as issued
By the International Accounting Standards Board [X]  
Other [   ]


If “Other” has been checked in response to previous question, indicate by check mark which financial statement item the registrant has elected to follow.
Item 17 [   ] Item 18 [   ]

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes [   ] No [   ]


Explanatory Note

This Amendment No. 1 to Prophecy Development Corp.’s (the “Company”) registration statement on Form 20-F, originally filed with the United States Securities and Exchange Commission (the “Commission”) on September 17, 2018 (the “Original Filing”) is being filed solely to amend Part I, Item 6.E. Share Ownership of the Original Filing to amend the share ownership of Masa Igata which was incorrect in the Original Filing.

Except for the amended disclosure described above, the Company has not modified or updated the disclosures presented in the Original Filing. Information not affected by this amendment remains unchanged and reflects the disclosures made at the time the Original Filing was filed. Therefore, this Amendment No. 1 should be read in conjunction with the Original Filing.

E. Share Ownership

The following table sets forth certain information as of September 17, 2018 regarding the beneficial ownership of our common shares by the executive officers and directors named herein. The percentage of common shares beneficially owned is computed on the basis of 78,814,457 common shares outstanding as of September 17, 2018.

Holder Number of Percentage of Number of Exercise Price Expiration
Common Shares Common Options Date
Held Shares Held
    Held      
John Lee 13,263,727(1) 16.83% 260,000 1.05 Jan. 27, 2019
      150,000 0.65 May 1, 2019
      235,000 0.50 Apr. 7, 2020
      134,000 0.50 June 22, 2020
      500,000 0.20 June 2, 2021
      300,000 0.49 Jan. 12, 2022
      550,000 0.33 June 12, 2022
      680,000 0.35 Sept. 1, 2022
      400,000 0.28 Apr. 6, 2023
Greg Hall 196,970 * 75,000 1.05 Jan 27, 2019
      40,000 0.65 May 1, 2019
      60,000 0.50 April 7, 2020
      20,000 0.50 June 22, 2020
      120,000 0.20 June 2, 2021
50,000 0.49 January 12, 2022
      50,000 0.33 June 12, 2022
50,000 0.35 September 1, 2022
      40,000 0.28 Apr. 6, 2023



Harald Batista 312,420 * 30,000 1.05 Jan 27, 2019
      20,000 0.65 May 1, 2019
      30,000 0.50 April 7, 2020
      20,000 0.50 June 22, 2020
      100,000 0.20 June 2, 2021
50,000 0.49 January 12, 2022
      50,000 0.33 June 12, 2022
50,000 0.35 September 1, 2022
      40,000 0.28 Apr. 6, 2023
Masa Igata 881,245 (2) 1.12% 50,000 0.65 May 1, 2019
      30,000 0.50 April 7, 2020
      20,000 0.50 June 22, 2020
      120,000 0.20 June 2, 2021
70,000 0.49 January 12, 2022
      50,000 0.33 June 12, 2022
50,000 0.35 September 1, 2022
      40,000 0.28 Apr. 6, 2023
Daniel Fidock 6,364,280 8.08% 250,000 0.28 April 6, 2023
      300,000 0.22 July 23, 2023
Irina Plavutska Nil * 10,000 1.05 Jan. 27, 2019
      15,000 0.65 May 1, 2019
      30,000 0.50 Apr. 7, 2020
      20,000 0.50 June 22, 2020
      90,000 0.20 June 2, 2021
      70,000 0.49 Jan. 12, 2022
      120,000 0.33 June 12, 2022
      100,000 0.35 Sept. 1, 2022
      100,000 0.28 Apr. 6, 2023
Tony Wong 369,180 * 50,000 1.00 Feb. 3, 2019
      10,000 0.65 May 1, 2019
      40,000 0.50 Apr. 7, 2020
      20,000 0.50 June 22, 2020
      120,000 0.20 June 2, 2021
      70,000 0.49 Jan. 12, 2022
      80,000 0.33 June 12, 2022
      100,000 0.35 Sept. 1, 2022
      100,000 0.28 Apr. 6, 2023
Michael Drozd Nil * 200,000 0.31 May 1, 2023
Bekzod Kasimov 205,710 * 20,000 1.05 Jan. 27,2019
      40,000 0.50 Apr. 7, 2020
      40,000 0.50 June 22, 2020
      120,000 0.20 June 2, 2021
      100,000 0.49 Jan. 12, 2022
      80,000 0.33 June 12, 2022
      100,000 0.35 Sept. 1, 2022
      100,000 0.28 Apr. 6, 2023
Danniel Oosterman Nil * 200,000 0.31 Feb. 20, 2023
    20,000 0.28 Apr. 6, 2023



* Less than 1%.

(1)

The equivalent of 284,310 of these common shares are held by Merit Holdings Ltd., a private company wholly owned and controlled by Mr. Lee. These common shares include the equivalent of 7,500,000 common shares underlying the equivalent of 7,500,000 units, and the equivalent of 3,000,000 common shares, issued to Mr. Lee in connection with those Debt Settlement Agreements with Linx as disclosed in the information under the heading “Item 7.B. Related Party Transactions”.

   
(2)

These common shares are held by Sophir Asia Limited, a private company wholly owned and controlled by Mr. Igata.

See “Description of Compensation Plan” for more details.


SIGNATURES

The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this registration statement Amendment No. 1 on its behalf.

  PROPHECY DEVELOPMENT CORP.
     
     
     
Date: September 26, 2018 By: /s/ John Lee
    John Lee
    Interim Chief Executive Officer