Each one in plain English, with the numbers worked through for a shareholder.
7 Feb 2012capital raising announcement▼ Bad
Filed in February 2012 for agreements dated Oct-Nov 2011, the company (now named Double Crown Resources, based in Virginia City Highlands, Nevada) signed four service agreements and issued 7,800,000 restricted shares at $0.005: Colonial Consultants (1,000,000), Andrew Cavazos (3,000,000), Alexander Fernandez (3,000,000) and Thomas Jones (200,000). Cavazos and Fernandez are to help find precious metal assets in South and Central America. More dilution; no cash amounts are stated. The filing gives no explanation of the name change.
In September 2011 the company agreed one-year pay arrangements with its executives and directors, paid in restricted shares at $0.005: 6,000,000 to David Figueiredo (now CEO/President), 5,000,000 to Jerry Drew, 4,000,000 to Glen Soler and 3,000,000 to Tricia Oakley (Secretary). It also signed a three-year consultant deal with director J. Paul Murphy ($10,000 retainer plus 4,000,000 shares). Further share sales at $0.005 went to investors (12,800,000 in August and 8,400,000 in September) and to two consultants (6,000,000). Shares outstanding rise to 103,849,999, substantial dilution. Figueiredo has replaced Dr. Stewart Jackson as CEO, a change this filing does not explain.
On April 20, 2011 Falco Investments converted two of its October 2010 notes ($132,382.20 of principal) into 13,238,220 restricted shares at $0.01, and the board accepted. The filing reports 88,838,219 shares outstanding and Falco at 19.1% (16,983,000 shares, including shares held through Highcroft Investments). This partly resolves the open question of Falco note conversion, though the other notes are not mentioned and conversion was later rescinded (see next filing).
Filed in March 2011 for agreements dated Oct-Nov 2010, the company signed six consulting agreements and issued 9,999,999 restricted shares to five of the consultants as payment: LV Media Group (3,000,000 shares for $30,000), Paul Murphy (4,000,000 for $80,000), Ariel Serrano (2,000,000 for $40,000), and retainers to David Figueiredo (666,666) and Steve Claus (333,333). CEO Dr. Stewart Jackson also got a five-year consulting deal at $2,000 a month, payable in cash or shares. Much of the consulting is aimed at finding precious metal assets to acquire, which fits the company having no assets after the October 2010 rescissions; the share issuances dilute existing holders.
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.
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.
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.
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.
