19 June 2013capital raising announcement▼ Bad
CFO Patrick Fagen loaned Del Toro Silver another $35,000, convertible at $0.10 per share.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
12 June 2013capital raising announcement▼ Bad
Del Toro Silver borrowed $40,000 from Arnold Fagen, convertible at $0.10 per share - unlike the company's other insider loans, Arnold Fagen is not identified as a director or officer.
24 May 2013capital raising announcement▼ Bad
Del Toro Silver issued 865,979 more shares converting the same Asher note - the third conversion tranche, together already exceeding 2.3 million new shares from a single $51,500 note.
14 May 2013capital raising announcement▼ Bad
Del Toro Silver issued 870,690 more shares converting the October 2012 Asher note, continuing the dilution.
10 May 2013capital raising announcement▼ Bad
CEO Greg Painter loaned Del Toro Silver another $20,000, convertible at $0.10 per share.
26 Apr 2013capital raising announcement▼ Bad
Del Toro Silver issued 574,714 shares to convert part of its October 2012 Asher Enterprises note, the dilution from that toxic note beginning to materialize.
8 Apr 2013capital raising announcement▼ BadMajor
Del Toro Silver took on a third Asher Enterprises toxic note, $32,500 at 8% interest, convertible at 50% of the average of the lowest three trading prices over the prior 10 days - a death-spiral formula that gets more dilutive the further the stock falls.
1 Mar 2013capital raising announcement▼ BadMajor
Del Toro Silver took on a second Asher Enterprises toxic convertible note, $37,500 at 8% interest, this time convertible at just 50% of market price - even steeper terms than the first Asher note four months earlier.
12 Dec 2012capital raising announcement▼ Bad
CFO Patrick Fagen loaned Del Toro Silver another $40,000, convertible at $0.10 per share - the sixth officer loan in seven months.
1 Nov 2012capital raising announcement▼ Bad
Del Toro Silver issued 1.25 million shares to CEO Greg Painter and CFO Patrick Fagen as the stock portion of their September 2012 consulting agreements, valued at $0.08 per share.
26 Sept 2012capital raising announcement▼ Bad
CFO Patrick Fagen loaned Del Toro Silver another $15,000, convertible at $0.10 per share - the fifth officer loan in four months.
5 Sept 2012capital raising announcement▼ Bad
Del Toro Silver signed consulting agreements paying CEO Greg Painter and CFO Patrick Fagen for over a year of past services, largely in stock: Painter alone was owed $75,000 cash plus 750,000 shares for 14 months of work, much of it accrued rather than paid currently.
5 Sept 2012capital raising announcement▼ Bad
CFO Patrick Fagen loaned Del Toro Silver $100,000 more, convertible into shares at $0.10 - the fourth and largest officer loan in four months.
20 July 2012capital raising announcement▼ Bad
CFO Patrick Fagen loaned Del Toro Silver another $50,000, convertible into shares at $0.08 - continuing the pattern of officer loans funding the company.
11 July 2012capital raising announcement● Neutral
Del Toro Silver amended its Dos Naciones option agreement with Yale Resources a third time and issued 200,000 shares to Yale under the new terms.
29 May 2012capital raising announcement▼ Bad
Del Toro Silver began financing itself through convertible loans from its own officers: CEO Greg Painter loaned the company $10,000 convertible at $0.06 and CFO Patrick Fagen $94,000 on the same terms, both agreements dated 26 May 2012 and both funding advances already made.
2 Feb 2012capital raising announcement▼ Bad
Del Toro Silver hired stock-promotion firms ATG Inc. and Stock Signal IR, paying ATG $19,000 cash plus 300,000 shares for 45 days of financial media relations work - spending scarce cash on stock promotion rather than exploration.
30 Sept 2011capital raising announcement▼ Bad
Del Toro Silver raised $75,000 from thirteen investors in a private placement at $0.04 per share - a steep drop from the $0.10 unit price ten months earlier, reflecting the stock's declining value.
22 Sept 2011capital raising announcement▼ Bad
Del Toro Silver issued 344,828 shares to convert part of a $55,000 convertible note, the first sign of the note-based dilutive financing that would recur through its history.
6 Dec 2010capital raising announcement● Neutral
Del Toro Silver raised $200,000 through a private placement of 2 million units (one share plus a two-year warrant to buy another at $0.25) at $0.10 per unit.
What it means for a shareholder
2.0m new shares at about $0.100 to raise about $200,000. That's 16% dilution: every existing holder's slice gets 16% smaller. If you held $1,000 of shares (10,000 at the issue price), your slice goes from 0.0949% to 0.0798% of the company. To keep it you'd need 1,898 more shares - about $190 at the issue price.
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25 Oct 2010capital raising announcement● Neutral
Del Toro Silver amended its Dos Naciones option agreement with Yale Resources a second time, again alongside a capital raise.
29 June 2010capital raising announcement● Neutral
Now renamed Del Toro Silver, the company amended its Dos Naciones option agreement with Yale Resources, alongside a capital raise to help fund the required exploration spending.
8 July 2009capital raising announcement● Neutral
Candev raised money through a subscription agreement, shortly before announcing a new mineral property deal - its first funding since abandoning the British Columbia project seven months earlier.