24 Aug 2010quarterly activities report▼ Bad
DOUBLE CROWN RESOURCES INC. reported a quarterly net loss of $175 thousand for the period ended 2010-06-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
24 Aug 2010quarterly activities report▼ Bad
DOUBLE CROWN RESOURCES INC. reported a quarterly net loss of $175 thousand for the period ended 2010-06-30.
16 Aug 2010late filing notice▼ Bad
DOUBLE CROWN RESOURCES INC. notified the SEC that its quarterly report would be filed late.
25 June 2010material agreement● NeutralMajor
The company agreed to a deal letting it earn up to 80% of Touchstone Precious Metals Inc., which has an agreement to buy the Lucky Thirteen placer claim near Hope, British Columbia. To earn in, it must fund a work program of about $400,000 ($75,000 within 30 days and the balance within 60 days). It earns 25% on completing the program, 50% on a BC mining permit, and 80% at production. This is a new direction after the Chile coal deal.
28 May 2010financial restatement▼ BadMajor
A third reporting problem: the company filed its March 31, 2010 quarterly report without auditor review, so the board concluded on May 24, 2010 that it should no longer be relied on. The company intends to file an amended report. This repeats the earlier pattern of un-reviewed filings.
17 May 2010late filing notice▼ Bad
DOUBLE CROWN RESOURCES INC. notified the SEC that its quarterly report would be filed late.
12 May 2010financial restatement▼ BadMajor
A second amendment spells out the errors in the June 30, 2009 report: related-party payables were not recorded so they were increased, the shares issued and outstanding were corrected, and the accumulated deficit rose as a result. The September 2009 report was filed without auditor review, and the company says it will file amended quarterly reports.
21 Apr 2010financial restatement▼ Bad
This amendment restates the November 2009 warning: the September 30, 2009 quarterly report was filed without review by the auditor, so it cannot be relied on. The company expects to file restated financials on or before May 10, 2010. Dennis Lorrig now signs as President/CEO.
31 Mar 2010late filing notice▼ Bad
DOUBLE CROWN RESOURCES INC. notified the SEC that its annual report would be filed late.
25 Mar 2010director interest notice● Neutral
Dennis R Lorrig became a DOUBLE CROWN RESOURCES INC. President/CEO and company insider (initial ownership filing).
2 Feb 2010financial restatement▼ BadMajor
The company said its financial statements for the six months ended June 30, 2009 also should no longer be relied on, after its auditor flagged errors. This extends the reporting problems beyond the September 2009 quarter, and the errors were still being corrected.
10 Dec 2009financial restatement▼ BadMajor
The company said its financial statements for the nine months ended September 30, 2009 should no longer be relied on: the auditor Seale & Beers advised there were errors and that the statements had not been reviewed by them. The fix raises related-party payables to $143,581 in the cash flow statement, with net cash used in operations of ($620); revenues and the balance sheet are said to be unaffected.
24 Nov 2009auditor change▼ Bad
This amended filing repeats the August 2009 auditor change and adds that the PCAOB revoked the registration of the former auditor Moore on August 27, 2009. The company plans to stop including Moore's audit reports in future filings and could not get an updated letter from Moore.
16 Nov 2009late filing notice▼ Bad
DOUBLE CROWN RESOURCES INC. notified the SEC that its quarterly report would be filed late.
2 Oct 2009material agreement● NeutralMajor
On September 25, 2009 the company agreed to acquire rights to coal concessions in Lota Bay, Chile from Maria Ines Moraga Latapiat in return for 10,000,000 new shares, with closing due by October 31, 2009. This is a first move into a mineral asset and would add a large number of shares if completed.
28 Aug 2009director interest notice● Neutral
DOUBLE CROWN RESOURCES INC. 10%+ owner Julius Briner sold 9,264,000 shares.
17 Aug 2009late filing notice▼ Bad
DOUBLE CROWN RESOURCES INC. notified the SEC that its quarterly report would be filed late.
17 Aug 2009auditor change● Neutral
The board dismissed its auditor Moore & Associates Chartered and hired Seale and Beers, CPAs on August 7, 2009. The filing says there were no disagreements; Moore's report on the 2008 accounts carried a going-concern qualification. Stuart Carnie signs as President, so the leadership has changed from Chris Lori.
16 June 2009director interest notice● Neutral
DOUBLE CROWN RESOURCES INC. 10%+ owner John D Briner sold 5,976,000 shares.
18 May 2009late filing notice▼ Bad
DOUBLE CROWN RESOURCES INC. notified the SEC that its quarterly report would be filed late.
31 Mar 2009late filing notice▼ Bad
DOUBLE CROWN RESOURCES INC. notified the SEC that its annual report would be filed late.
17 Nov 2008late filing notice▼ Bad
DOUBLE CROWN RESOURCES INC. notified the SEC that its quarterly report would be filed late.
23 Sept 2008director interest notice● Neutral
John D Briner became a DOUBLE CROWN RESOURCES INC. 10%+ owner and company insider (initial ownership filing).
22 Sept 2008director interest notice● Neutral
Julius Briner became a DOUBLE CROWN RESOURCES INC. 10%+ owner and company insider (initial ownership filing).
18 June 2008capital raising announcement▼ Bad
On June 2, 2008 the company issued 2,000,000 restricted shares to its President and director Chris Lori for services rendered; the filing gives the $0.001 par value as the price and no cash was stated as received. This dilutes existing shareholders in favour of an insider.
3 June 2008capital raising announcement● Neutral
On June 2, 2008 the company sold another 100,000 shares at $0.10 each to Oxford Capital Services Inc. for $10,000. This is the third small placement to this investor and is smaller than the earlier two.
17 Oct 2007capital raising announcement● Neutral
The company sold a further 198,000 shares at $0.10 each to the same investor, Oxford Capital Services Inc., for $19,800 (agreement dated September 28, 2007). This continues the small private share sales to this investor.
10 Sept 2007capital raising announcement● Neutral
Denarii Resources sold 250,000 new shares at $0.10 each to Oxford Capital Services Inc., raising $25,000 with no placing or finder's fees. The agreement is dated July 1, 2007 and was reported in September 2007; it adds shares to the company's share count.