7 May 2012quarterly activities report▼ Bad
CAN CAL RESOURCES LTD reported a quarterly net loss of $114 thousand for the period ended 2012-03-31.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
7 Nov 2011quarterly activities report▼ Bad
CAN CAL RESOURCES LTD reported a quarterly net loss of $143 thousand for the period ended 2011-09-30.
29 Aug 2011quarterly activities report▼ Bad
CAN CAL RESOURCES LTD reported a quarterly net loss of $196 thousand for the period ended 2011-06-30.
15 Aug 2011quarterly activities report▼ Bad
CAN CAL RESOURCES LTD reported a quarterly net loss of $196 thousand for the period ended 2011-06-30.
19 May 2011quarterly activities report▼ Bad
CAN CAL RESOURCES LTD reported a quarterly net loss of $103 thousand for the period ended 2011-03-31.
17 May 2011late filing notice▼ Bad
CAN CAL RESOURCES LTD notified the SEC that its quarterly report would be filed late.
1 Apr 2011late filing notice▼ Bad
CAN CAL RESOURCES LTD notified the SEC that its annual report would be filed late.
3 Mar 2011capital raising announcement● Neutral
Can-Cal closed a second tranche of the same unit placement: 1,020,000 units at US$0.06 for US$61,200 gross, each with a warrant at US$0.08 expiring August 18, 2012. Finders get $510 and 8,500 shares. The 8-K text also repeats the first tranche's US$128,800 total and 'January 3, 2011' date, which conflicts with the US$61,200 in the press release, so the filing is internally inconsistent. Uses of proceeds are unchanged from the first tranche. More dilution for existing holders.
What it means for a shareholder
1.0m new shares at US$0.060 to raise about US$61,200. That's 3.2% dilution: every existing holder's slice gets 3.2% smaller. If you held US$1,000 of shares (16,667 at the issue price), your slice goes from 0.0543% to 0.0525% of the company. To keep it you'd need 554 more shares - about US$33 at the issue price.
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4 Jan 2011capital raising announcement● Neutral
On January 3, 2011 Can-Cal sold 2,146,666 units at US$0.06 each for US$128,800 gross. Each unit is one share plus a warrant to buy another share at US$0.08 until December 31, 2012. Finders get $2,790 and 46,500 shares. The press release says this replaces the convertible debenture financing announced in June 2010 (the debenture amount was never stated), so that thread is closed by the release's wording. New shares and warrants dilute existing holders. Proceeds are for the Pisgah and Wikieup extraction work, a Wikieup drill program, Owl Canyon rare earth research, investor relations and working capital reserve.
15 Nov 2010quarterly activities report▼ Bad
CAN CAL RESOURCES LTD reported a quarterly net loss of $141 thousand for the period ended 2010-09-30.
16 Aug 2010quarterly activities report▼ Bad
CAN CAL RESOURCES LTD reported a quarterly net loss of $111 thousand for the period ended 2010-06-30.
17 June 2010capital raising announcement● NeutralMajor
On June 11, 2010 Can-Cal sold an unsecured 12% convertible debenture to accredited investors, maturing about June 11, 2013, convertible at $0.25 per share. The company can force conversion if its 15-day average share price reaches $0.40. The filing does not state the debenture amount. Proceeds are earmarked, subject to further funding, for extraction process work at Pisgah and Wikieup, a Wikieup drill program, rare earth research at Owl Canyon, investor relations and working capital.
31 Mar 2010late filing notice▼ Bad
CAN CAL RESOURCES LTD notified the SEC that its annual report would be filed late.
25 Feb 2010capital raising announcement● Neutral
On February 19, 2010 Can-Cal closed the final tranche of its oversubscribed private placement: 1,144,000 units at $0.125 for $143,000. This completes the financing begun with the May 2009 first tranche; the total is $370,825 for 2,966,600 shares plus an equal number of warrants at $0.15 expiring March 31, 2011, with the same stated uses as before.
What it means for a shareholder
1.1m new shares at $0.125 to raise about $143,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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3 June 2009capital raising announcement● NeutralMajor
On May 28, 2009 Can-Cal sold 967,600 units at $0.125 each for $120,950 gross, each unit being one share plus a warrant at $0.15 expiring March 31, 2011. The money is for exploration and testing at the Pisgah and Wikieup properties, to fund rescission of certain earlier share sales required by the British Columbia Securities Commission after the April 24, 2009 partial revocation of a Cease Trade Order, and for working capital. New shares and warrants dilute existing holders.
What it means for a shareholder
967,600 new shares at $0.125 to raise about $120,950. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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20 Apr 2009auditor change● Neutral
This amendment repeats the March 2009 auditor change (DeJoya Griffith dismissed, L.L. Bradford engaged) and adds the auditor's Exhibit 16.1 letter. It carries no new facts about the change itself.
31 Mar 2009late filing notice▼ Bad
CAN CAL RESOURCES LTD notified the SEC that its annual report would be filed late.
24 Mar 2009auditor change● Neutral
On March 17, 2009 Can-Cal dismissed DeJoya Griffith & Company, LLC as auditor and on March 19, 2009 re-engaged L.L. Bradford, LLC, the firm it dropped in 2005. DeJoya's reports for 2006 and 2007 contained a going-concern uncertainty, and the filing reports no disagreements.
14 Aug 2008late filing notice▼ Bad
CAN CAL RESOURCES LTD notified the SEC that its quarterly report would be filed late.
15 May 2008late filing notice▼ Bad
CAN CAL RESOURCES LTD notified the SEC that its quarterly report would be filed late.
31 Mar 2008late filing notice▼ Bad
CAN CAL RESOURCES LTD notified the SEC that its annual report would be filed late.
2 Apr 2007late filing notice▼ Bad
CAN CAL RESOURCES LTD notified the SEC that its annual report would be filed late.
14 Nov 2006late filing notice▼ Bad
CAN CAL RESOURCES LTD notified the SEC that its quarterly report would be filed late.
14 Aug 2006late filing notice▼ Bad
CAN CAL RESOURCES LTD notified the SEC that its quarterly report would be filed late.
15 May 2006late filing notice▼ Bad
CAN CAL RESOURCES LTD notified the SEC that its quarterly report would be filed late.
4 Apr 2006auditor change● Neutral
Filed in April 2006, this restates the July 15, 2005 dismissal of L.L. Bradford & Company as auditor and engagement of De Joya Griffith & Company, LLC, with no disagreements and no adverse opinions. It corrects the earlier March 2006 filing, which named the new firm as DeJoya & Company, CPA and referred to the wrong fiscal years (2003 and 2004 are now cited).
31 Mar 2006late filing notice▼ Bad
CAN CAL RESOURCES LTD notified the SEC that its annual report would be filed late.
3 Mar 2006auditor change● Neutral
Filed in March 2006, this reports that L.L. Bradford & Company was terminated as auditor on July 15, 2005 and DeJoya & Company, CPA was engaged, with no disagreements and no adverse opinions. It reverses the 2002 appointment of L.L. Bradford, and the filing is internally inconsistent: its cover date is July 18, 2005 and it refers to fiscal years ended December 31, 2005, which had not yet occurred at the stated termination date.
15 Nov 2005late filing notice▼ Bad
CAN CAL RESOURCES LTD notified the SEC that its quarterly report would be filed late.
21 July 2005material agreement termination▼ BadMajor
Can-Cal decided not to proceed with the Pinos Project joint venture with Minera Apolo after its due diligence review, ending the option agreements signed in March 2005. Minera Apolo received 107,143 restricted shares ($24,000) earlier and a further 111,607 restricted shares ($25,000) on the decision, and the company says it is now focusing on its U.S. properties.