Past year: ▲ 339900%(0.01c – 34.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
17 Sept 2010capital raising announcement▼ Bad
Cheetah borrowed $24,000 from Cornelius O'Connell for two years at 15% interest, with 200,000 warrants at $0.12 expiring September 13, 2013. The loan is secured by a first charge on Cheetah's 8% gross interest in the PPF-12 well at Belmont Lake, and a demand promissory note was also signed.
8 June 2010capital raising announcement▼ Bad
Cheetah cancelled the August 2009 assignment of 57.76% of its 8% interest in the planned Mississippi well to Enertopia Corp., which had paid US$45,000. The well had not been drilled, with the filing citing weather and stating there is doubt over when or if it will be. In exchange, Cheetah issued Enertopia 375,000 restricted shares (deemed $0.12) plus matching $0.20 warrants. This reverses part of the August 2009 revenue-interest sale.
30 Dec 2009capital raising announcement● Neutral
Cheetah reported several equity issuances: 400,000 units at $0.05 for $20,000 (September 14, 2009); 1,180,000 shares to Sage Investments to clear $59,000 of convertible debt and 90,000 shares to Michael Jenks for a $4,500 finder's fee (both October 17, 2009); and 300,000 options at $0.10 to officers and directors (November 27, 2009). It continues funding itself through small share issues.
23 Dec 2009capital raising announcement● Neutral
Cheetah raised $75,000 by selling 1,500,000 units at $0.05, each a share plus a warrant to buy another at $0.20 for 24 months, to three non-US investors. This is another small, dilutive raise at the same price as September's.
What it means for a shareholder
1.5m new shares at US$0.050 to raise about US$75,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
16 Sept 2009capital raising announcement● Neutral
Cheetah sold 1,230,000 units at $0.05 for net proceeds of $61,500 (each unit a share plus a $0.20 warrant exercisable until August 10, 2011) and settled $151,000 of debt owed to two directors by issuing 3,020,000 shares at $0.05. This dilutes existing shareholders.
16 Sept 2009capital raising announcement● Neutral
Cheetah granted 150,000 stock options at $0.10 to Georgina Martin (vested immediately, expiring September 14, 2014) and repriced CEO Robert McAllister's earlier options to $0.10, now 200,000 after a 10-to-1 share consolidation. This is the first mention in these filings of that consolidation.
20 Mar 2008capital raising announcement● Neutral
Cheetah agreed to borrow up to $500,000 from Invicta Oil & Gas (an initial $200,000 plus three quarterly draws of $100,000) at 8% interest, repayable 90 days after written demand and secured on its 10% interest in the BC subsidiary. It also agreed to issue Invicta 100,000 shares at a deemed $0.08 as consideration for the loan.
27 Nov 2007capital raising announcement● NeutralMajor
Cheetah completed the Papua New Guinea deal: Kepis & Pobe (assigned to Invicta Oil & Gas Ltd.) took 90% of Cheetah's British Columbia subsidiary holding the PNG licences, settling about $15,000,000 of debt and committing a further $10,000,000 of capital by December 31, 2008. This included taking over and cancelling about US$7,550,000 owed to Macquarie. Cheetah keeps 10% of the subsidiary, and it also issued 1,255,510 shares to three directors and officers under consulting arrangements. This completes the farm-in letter agreement of May 2007.
17 Mar 2006capital raising announcement● NeutralMajor
Cheetah closed the first tranche of a financing: a US$5,000,000 senior secured convertible note due March 14, 2007, plus 3,000,000 warrants at $3.42 per share, issued to a subsidiary of Macquarie Bank (Macquarie Holdings (USA) Inc.). Proceeds are earmarked for Papua New Guinea projects, specifically re-entry drilling and completion of the Kuru #2 well, and working capital; a second tranche on identical terms depends on share price, exploration and drilling criteria being met.
