Filing Analysis
First America Resources Corporation has officially changed its corporate name to Metech Group Inc., effective September 27, 2026. The change was formalized via a Certificate of Amendment filed with the Nevada Secretary of State.
📋 Key Facts
- Effective date of name change: September 27, 2026.
- Former name: First America Resources Corporation.
- New name: Metech Group Inc.
- Jurisdiction of incorporation: Nevada.
First America Resources Corporation announced significant leadership changes on September 24, 2026, appointing Rex Cheng as President and Rongmei Yu as Chief Financial Officer and Secretary. Both new executives are coming from the company's wholly owned subsidiary, METech Recycling, Inc.
🚩 Red Flags
- Management reshuffle involving the transfer of executives from a subsidiary to the parent company level.
📋 Key Facts
- Rex Cheng appointed as President on September 24, 2026.
- Rongmei Yu appointed as Chief Financial Officer and Corporation Secretary on September 24, 2026.
- Both new officers were previously executives at the company's wholly owned subsidiary, METech Recycling, Inc.
- Jian Li remains as Chief Executive Officer and Director.
First America Resources Corp completed a business combination to acquire METech Recycling, Inc., transitioning the company from a shell company status. The transaction involved issuing 80 million shares of common stock to entities controlled by the CEO/Director, Jian Li.
🚩 Red Flags
- Related-party transaction: The acquisition was executed with entities owned by the CEO/Director/Majority Shareholder.
- Significant dilution: Issuance of 80 million new shares to insiders.
- Concentrated control: Jian Li holds majority ownership and controls both the parent company and the acquired subsidiary's previous owners.
📋 Key Facts
- Acquired METech Recycling, Inc. on April 16, 2025.
- Issued 80,000,000 shares of common stock as part of the acquisition.
- The transaction was a related-party transaction involving Jian Li (Director, CEO, and CFO).
- Shares were issued to First America Metal Corp. (29,056,000) and First America Management Group Corp. (50,944,000).
- The acquisition results in the company losing its 'shell company' status.
- METech Recycling is an R2v3 certified recycler specializing in IT asset disposition (ITAD), electronics recycling, and solar panel/EV battery processing.
First America Resources Corp has completed a business combination to acquire METech Recycling, Inc., transitioning the company from a 'shell company' status. The transaction involved issuing 80,000,000 shares of common stock to entities controlled by the company's CEO and Director, Jian Li.
🚩 Red Flags
- Related-party transaction: The shares were issued to companies solely owned by Jian Li, who is also the CEO and CFO.
- Concentrated control: Mr. Li owns a majority of the common stock and has full business/financial information regarding the transaction.
- Significant dilution: Issuance of 80 million shares represents a massive expansion of the share count.
📋 Key Facts
- Acquisition date: April 16, 2025.
- Transaction structure: Issuance of 80,000,000 shares of common stock to stockholders of METech Recycling, Inc.
- Recipients: First America Metal Corp (29,056,000 shares) and First America Management Group Corp (50,944,000 shares).
- The acquired entity, METech Recycling, will operate as a wholly owned subsidiary.
- The transaction results in the company ceasing to be a 'shell company' as of April 16, 2025.
First America Resources Corp. has announced it is reverting its status to a 'shell company,' admitting that its previous declaration on March 28, 2023, regarding its non-shell status was inappropriate. The company intends to amend prior quarterly and annual reports to reflect this change in status.
🚩 Red Flags
- Admission of inaccurate prior reporting regarding shell company status
- Requirement to restate/amend historical financial filings (Item 4.02 implications)
- Company remains a shell company seeking business combinations, indicating lack of active operations
📋 Key Facts
- The company will report as a shell company going forward.
- Management admitted that the March 28, 2023, claim of not being a shell company was 'inappropriate'.
- The company must amend its quarterly reports and the annual report for the fiscal year ended June 30, 2023.
- The previous justification for non-shell status (proposed property acquisition) is no longer contemplated.