12 Feb 2013securities registration● Neutral
AUGUSTA GOLD CORP. amended a filing by which it registered a securities offering with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
4 Feb 2013capital raising announcement▼ Bad
On February 4, 2013 the company sold 1,800,060 units at $0.25 for $450,015, each with one common share and a four-year warrant at $0.35. The proceeds are to be used primarily for a future investor relations campaign. A $12,000 placement fee was paid and the placement agent received 48,000 warrants. A resale registration statement is due by April 4, 2013 with 1% per month damages up to 6% if late. This continues the dilutive private placements begun in November 2012.
What it means for a shareholder
1.8m new shares at $0.250 to raise about $450,015. That's 4.5% dilution: every existing holder's slice gets 4.5% smaller. If you held $1,000 of shares (4,000 at the issue price), your slice goes from 0.0106% to 0.0101% of the company. To keep it you'd need 191 more shares - about $48 at the issue price.
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23 Jan 2013securities registration● Neutral
AUGUSTA GOLD CORP. amended a filing by which it registered a securities offering with the SEC.
3 Jan 2013director interest notice● Neutral
AUGUSTA GOLD CORP. CEO, CFO, Secretary, Treasurer David Coates Beling bought 400,000 shares on the open market at $0.00.
18 Dec 2012securities registration● Neutral
AUGUSTA GOLD CORP. amended a filing by which it registered a securities offering with the SEC.
17 Dec 2012capital raising announcement▼ Bad
On December 17, 2012 the company sold 2,000,000 units at $0.25 for $500,000, each with one common share and a four-year warrant at $0.35. It used all the money to pay Antibes International Corp. under a new consulting agreement covering management consulting, business advisory, shareholder information and public relations services. Up to a further $500,000 is owed to Antibes if more units are sold on the same terms. This is the investor relations campaign flagged in November's possible $575,000 closing, and it dilutes existing holders.
12 Dec 2012capital raising announcement● NeutralMajor
On December 10, 2012 the company, through its subsidiary Standard Gold, entered a $4.2 million secured loan with RMB Australia Holdings Limited at LIBOR plus 7%, to fund a work program at the Newsboy gold project in Arizona and general corporate purposes. The loan is guaranteed by the company, secured on the Newsboy assets and a pledge of all Standard Gold shares, and repayable 24 months after closing. The company will issue 7,000,000 warrants at $0.35, and must keep $500,000 in a segregated account and seek an exchange listing within 12 months. This is the company's first major debt facility and adds both leverage and potential dilution.
29 Nov 2012securities registration● Neutral
AUGUSTA GOLD CORP. filed notice of an exempt private placement.
28 Nov 2012substantial holder notice● Neutral
Barry Honig, GRQ Consultants, Inc reported a AUGUSTA GOLD CORP. shareholding of 3,325,251 shares (9.50% of votes) in a periodic institutional filing.
20 Nov 2012capital raising announcement● NeutralMajor
On November 19, 2012 the company raised $1,075,000 selling 4,300,000 units at $0.25 each, each with a four-year warrant at $0.35, and created a new Series B preferred stock. The $200,000 September note was converted into 804,600 Series B preferred shares plus warrants, resolving that debt through issuing shares, and 276,000 common shares and warrants were issued for $69,000 of legal fees. Per the press release, the money is mainly for the Newsboy Gold Project in Arizona; a further $575,000 of subscriptions may close later, to be used mainly for an investor relations campaign. This dilutes existing holders.
13 Nov 2012quarterly activities report▼ Bad
AUGUSTA GOLD CORP. reported a quarterly net loss of $605 thousand for the period ended 2012-09-30.
13 Nov 2012securities registration● Neutral
AUGUSTA GOLD CORP. amended a filing by which it registered a securities offering with the SEC.
25 Oct 2012substantial holder notice● Neutral
Barry Honig, GRQ Consultants, Inc disclosed a new substantial AUGUSTA GOLD CORP. shareholding (5.80% of votes).
24 Sept 2012securities registration● Neutral
AUGUSTA GOLD CORP. registered a securities offering with the SEC.
11 Sept 2012capital raising announcement▼ Bad
On September 5, 2012 the company sold a $200,000 promissory note to an accredited investor at 3% interest per month, due October 1, 2012. The company could extend the maturity by paying shares (50,000 shares for the first extension, 100,000 for the second to December 1, 2012), or pay a 100,000-share penalty to prepay. This is short-term, expensive borrowing that could dilute shareholders if share payments are triggered.
27 Aug 2012quarterly activities report▼ Bad
AUGUSTA GOLD CORP. reported a quarterly net loss of $957 thousand for the period ended 2012-06-30.
3 Aug 2012quarterly activities report▼ Bad
AUGUSTA GOLD CORP. reported a quarterly net loss of $957 thousand for the period ended 2012-06-30.
10 May 2012quarterly activities report▼ Bad
AUGUSTA GOLD CORP. reported a quarterly net loss of $67 thousand for the period ended 2012-03-31.
23 Apr 2012director interest notice● Neutral
David Coates Beling became a AUGUSTA GOLD CORP. CEO, CFO, Secretary, Treasurer and company insider (initial ownership filing).
23 Apr 2012director interest notice● Neutral
Alan P. Lindsay became a AUGUSTA GOLD CORP. director and company insider (initial ownership filing).
14 Nov 2011quarterly activities report▼ Bad
AUGUSTA GOLD CORP. reported a quarterly net loss of $164 thousand for the period ended 2011-09-30.
13 Oct 2011securities registration● Neutral
AUGUSTA GOLD CORP. filed notice of an exempt private placement.
7 Oct 2011asset acquisition disposition● Neutral
This amended filing restates the October 6 report on the Standard Gold merger. It corrects Item 2.01 disclosure, adds notes to the interim financial statements, and attaches David Beling's employment agreement. The deal terms shown (merger, $3,650,900 private placement, split-off) match the original; the amendment now describes the structure as Standard Gold merging with a new acquisition subsidiary and becoming a wholly owned subsidiary of the company, and states that 9,127,250 units were sold in the placement.
6 Oct 2011business combination● NeutralMajor
The company, renamed Bullfrog Gold Corp. from Kopr Resources Corp. in July 2011 after a roughly 51.7-for-1 forward split, closed a reverse merger on September 30, 2011 with Standard Gold Corp., a gold explorer holding about 6,860 acres of claims and leases in Arizona and Nevada. It also raised $3,650,900 in a private placement and split off its old business to a former officer in exchange for 22,510,919 shares being cancelled. This replaces the earlier Coronado Biosciences plan as the company's actual direction; afterwards 29,897,846 common shares and 4,586,539 Series A preferred shares were outstanding, and the properties have no reserves.
30 Aug 2011quarterly activities report▼ Bad
AUGUSTA GOLD CORP. reported quarterly revenue of $0 and a net loss of $6 thousand for the period ended 2011-07-31.
29 Aug 2011quarterly activities report▼ Bad
AUGUSTA GOLD CORP. reported quarterly revenue of $0 and a net loss of $32 thousand for the period ended 2011-07-31.
15 Mar 2011material agreement● NeutralMajor
On March 14, 2011, the company (then Kopr Resources Corp.) signed a non-binding summary of terms for a possible reverse merger with Coronado Biosciences, Inc., plus a 60-day exclusivity agreement barring it from talking to other acquirers. A definitive deal needed due diligence and board approvals; the target was the second quarter of 2011, and the terms valued the company's existing stock at $1,000,000 before the deal. (Inference from later filings: this Coronado deal does not appear to be the one that was completed.)
14 Sept 2010quarterly activities report▼ Bad
AUGUSTA GOLD CORP. reported quarterly revenue of $0 and a net loss of $17 thousand for the period ended 2010-07-31.
16 Feb 2010securities registration● Neutral
AUGUSTA GOLD CORP. registered a securities offering with the SEC.
12 Feb 2010listing compliance notice▼ Bad
AUGUSTA GOLD CORP. withdrew a registration statement, abandoning the offering it covered.