10 May 2013capital raising announcement▼ Bad
CEO Greg Painter loaned Del Toro Silver another $20,000, convertible at $0.10 per share.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
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.
15 Mar 2013quarterly activities report▼ Bad
DEL TORO SILVER CORP. reported a quarterly net loss of $129 thousand for the period ended 2013-01-31.
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 Feb 2013material agreement● Neutral
Del Toro Silver hired Moody Capital Solutions to try to raise $1 million in two tranches for a proposed joint venture on its Natchez Pass gold project, with no funds disbursed to the company until at least $500,000 was raised.
30 Jan 2013late filing notice▼ Bad
DEL TORO SILVER CORP. notified the SEC that its annual report would be filed late.
16 Jan 2013material agreement▼ BadMajor
Del Toro Silver paid Natchez Pass LLC $7,000 per extension for two more 60-day due-diligence periods on the Nevada option - now paying cash just to keep the unclosed deal alive.
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.
14 Nov 2012farm in farm out agreement▼ BadMajor
Del Toro Silver extended the closing deadline on its Bowerman Holdings (California) claims for a fourth time, to May 2013, while its Natchez Pass (Nevada) option remained similarly unclosed over a year after signing - neither of its two big 2011-2012 mineral deals had actually closed.
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.
25 Oct 2012material agreement▼ BadMajor
Del Toro Silver took on its first outside toxic convertible note, an 8% $51,500 note from Asher Enterprises convertible at just 58% of market price after 180 days - a far more dangerous financing structure than the officer loans, since falling conversions increase share count and can push the price down further.
2 Oct 2012material agreement● Neutral
Del Toro Silver amended its Natchez Pass, Nevada option agreement so it bears the due-diligence costs itself, recoverable only later out of any mineral sales proceeds.
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.
17 Sept 2012material agreement▼ Bad
Del Toro Silver granted 2 million stock options to directors, officers, employees and consultants under its 2012 Stock Plan, with CEO Greg Painter and CFO Patrick Fagen each getting 750,000 at exercise prices of $0.10-$0.20.
10 Sept 2012quarterly activities report▼ Bad
DEL TORO SILVER CORP. reported a quarterly net loss of $91 thousand for the period ended 2012-07-31.
6 Sept 2012material agreement● NeutralMajor
Del Toro Silver took on a third mineral project, an option with Natchez Pass LLC to earn up to 67.5% of a leasehold in Pershing County, Nevada, for $4.005 million in cash payments plus 5 million shares over five years - on top of its existing Mexico and California claims.
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.
14 June 2012quarterly activities report▼ Bad
DEL TORO SILVER CORP. reported a quarterly net loss of $29 thousand for the period ended 2012-04-30.
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.
9 May 2012director interest notice● Neutral
DEL TORO SILVER CORP. Chief Financial Officer Patrick Fagen bought 50,000 shares on the open market at $0.05.
20 Mar 2012quarterly activities report▼ Bad
DEL TORO SILVER CORP. reported quarterly revenue of $0 and a net loss of $79 thousand for the period ended 2012-01-31.
19 Mar 2012late filing notice▼ Bad
DEL TORO SILVER CORP. notified the SEC that its quarterly report would be filed late.
22 Feb 2012auditor change▼ BadMajor
Del Toro Silver dismissed its second auditor in five months, Saturna Group, which had likewise flagged substantial doubt about the company's ability to continue as a going concern.
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.
31 Jan 2012late filing notice▼ Bad
DEL TORO SILVER CORP. notified the SEC that its annual report would be filed late.
8 Dec 2011director interest notice● Neutral
DEL TORO SILVER CORP. Chief Financial Officer Patrick Fagen bought 2,000 shares on the open market at $0.13.