Company: ALDA
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001548123-25-000017
Chunk: 0

Company: ATLANTICA INC
Filing Date: 2025-03-18
Form: 10-K
Item: Item 1
Chunk 0
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ITEM 1. BUSINESS

Business Development

Our Company was organized pursuant to the laws of the State of Utah on
March 3, 1938, under the name “ Red Hills Mining Company,” with an authorized capital of $20,000 divided into 2,000,000 shares
of common stock of a par value of $0.01 per share. Our Company was formed for the primary purpose of conducting the business of mining
in all of its branches.

On February 5, 1953, we changed our name to “ Allied
Oil and Minerals Company,” with our primary purpose continuing to be mining.

On January 8, 1971, we changed our name to “ Community
Equities Corporation,” we increased our authorized capital from $20,000 to $150,000, comprised of 15,000,000 at $.01 and our purpose
also changed to the business of real estate development. We discontinued the real estate development operations in 1990.

Effective March 26, 1996, the corporate charter was
reinstated, and we changed our corporate name to “ Atlantica, Inc.”

On March 13, 1998, we increased our authorized capital
from 15,000,000 shares of $.01 par value to 25,000,000 shares of $0.0001 par value common stock; and we authorized a reverse split of
one share for every 20 shares. We also authorized the issuance of 24,000,000 shares to Gregory Aurre, President and a director, for services
rendered and expenses paid. The Board also issued 25,000 shares each to Amerika Aurre, Vice President and a director and Gregory Aurre
III, Secretary and a director, for services rendered. We also adopted new Bylaws.

On October 30, 2002, the Board of Directors resolved
to appoint new officers and directors since Gregory Aurre II, Gregory Aurre III and Amerika Aurre all resigned, in seriatim, from any
and all capacity as officers and directors. Thomas J. Howells was appointed as President and director, Terry Jenson as Vice President
and director and Travis T. Jenson as Secretary and director.

On November 12, 2002, the 23,908,000 shares held by
Gregory Aurre II, were foreclosed on to satisfy debt in the amount of $80,000, owed to Duane S. Jenson. Mr.