9 Feb 2021auditor change▼ BadMajor
General Moly's auditor Plante & Moran resigned days after the Chapter 11 filing; its most recent audit report had already flagged going-concern doubt.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 Dec 2020listing compliance notice▼ BadMajor
The Toronto Stock Exchange separately moved to delist General Moly, citing its insolvency/bankruptcy exposure and financial condition, effective December 29, 2020 — its last remaining public listing was gone.
20 Nov 2020bankruptcy or receivership▼ BadMajor
General Moly filed for Chapter 11 bankruptcy, with a $1.4 million debtor-in-possession loan funded by insiders (CEO Bruce Hansen, his relative Bong Hansen, and an entity called New Moly LLC) and a pre-arranged restructuring plan that would convert that DIP debt into equity in the reorganized company — after fifteen years and two failed Chinese-financing partners (Hanlong, then Amer), Mount Hope was never built and the company's public-market ownership was wiped out in favor of insiders and bondholders.
9 Oct 2020listing compliance notice● NeutralMajor
General Moly, Inc's exchange filed to remove a class of its securities from listing.
1 Oct 2020listing compliance notice▼ BadMajor
General Moly told NYSE American it would not even submit a compliance plan; the exchange suspended trading and began delisting the stock.
21 Sept 2020asset acquisition disposition▼ BadMajor
The Liberty project sale to Pathfinder closed for $2 million upfront, but General Moly disclosed plainly that it still faced a severe working-capital deficit and "substantial doubt about the Company's ability to continue as a going concern," warning that bankruptcy could leave stockholders and even noteholders with nothing.
4 Sept 2020listing compliance notice▼ BadMajor
NYSE American cited General Moly for a $115.6 million stockholders' deficit and five straight years of losses, demanding a compliance plan by month's end — the delisting threat had escalated from a low share price to outright insolvency-level deficiencies.
3 Sept 2020material agreement▼ BadMajor
General Moly agreed to sell its Liberty project (the former Hall-Tonopah copper-moly deposit) to Pathfinder Minerals for up to $3 million plus a royalty — shedding its second asset to raise cash as the Mount Hope financing search kept failing.
19 Aug 2020quarterly activities report▼ Bad
General Moly, Inc reported quarterly revenue of $0 and a net loss of $211.2 million for the period ended 2020-06-30.
17 Aug 2020late filing notice▼ Bad
General Moly, Inc notified the SEC that its quarterly report would be filed late.
20 July 2020agm notice● Neutral
General Moly, Inc shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
1 July 2020director interest notice● Neutral
General Moly, Inc Controller/Principal Acctg Off Amanda Corrion exercised stock options for 240,000 shares and disposed of 240,000 shares.
1 July 2020director interest notice● Neutral
General Moly, Inc Chief Operating Officer Robert Ira Pennington exercised stock options for 450,000 shares and disposed of 450,000 shares.
1 July 2020director interest notice● Neutral
General Moly, Inc Chief Executive Officer & CFO Bruce D Hansen exercised stock options for 550,000 shares and disposed of 550,000 shares.
1 July 2020director interest notice● Neutral
General Moly, Inc Chief Legal Officer R Scott Roswell exercised stock options for 400,000 shares and disposed of 400,000 shares.
15 May 2020quarterly activities report▼ Bad
General Moly, Inc reported a quarterly net loss of $1.2 million for the period ended 2020-03-31.
5 May 2020securities registration● Neutral
General Moly, Inc registered a securities offering with the SEC using its shelf eligibility.
29 Apr 2020debt financing▼ Bad
General Moly took a $365,034 Paycheck Protection Program loan, explicitly because the COVID-19 pandemic had cut off its other options for raising capital.
17 Mar 2020listing compliance notice▼ BadMajor
NYSE American gave General Moly extra time (until its 2020 annual meeting) to pursue a reverse stock split after it missed the prior deadline, tagging the stock ".BC" as below compliance in the meantime.
9 Jan 2020securities registration● Neutral
General Moly, Inc filed notice of an exempt private placement.
3 Jan 2020capital raising announcement▼ BadMajor
General Moly exchanged 95% of its maturing 2019 notes for new notes due 2022 at a higher 12% interest rate — avoiding a near-term default by paying more for the extension, a classic sign of a company running out of options.
19 Dec 2019substantial holder notice● Neutral
Amer International Group Co., Ltd disclosed a new substantial General Moly, Inc shareholding (28.24% of votes).
19 Nov 2019quarterly activities report▼ Bad
General Moly, Inc reported a quarterly net loss of $3.0 million for the period ended 2019-09-30.
14 Nov 2019late filing notice▼ Bad
General Moly, Inc notified the SEC that its quarterly report would be filed late.
30 Sept 2019material agreement▼ BadMajor
Noteholders agreed to let General Moly defer a roughly $162,000 interest payment for 90 days without triggering default — the same week the company finally received its last major federal permit (the Record of Decision) for Mount Hope, a rare piece of good news arriving alongside real cash strain.
18 Sept 2019listing compliance notice▼ BadMajor
NYSE American issued a second low-price warning, giving General Moly until March 2020 to fix its share price or face delisting.
13 Aug 2019quarterly activities report▼ Bad
General Moly, Inc reported quarterly revenue of $0 and a net loss of $2.5 million for the period ended 2019-06-30.
8 Aug 2019substantial holder notice● Neutral
Bruce D. Hansen reported a General Moly, Inc shareholding of 14,721,590 shares (9.99% of votes) in a periodic institutional filing.
7 Aug 2019capital raising announcement▼ Bad
With the Amer relationship in dispute, General Moly raised another $400,000 from CEO Hansen and COO Pennington through a new class of preferred stock.
5 Aug 2019material agreement termination▼ BadMajor
Amer International tried to terminate its 2015 financing agreement, citing US-China tensions, permitting delays and solvency concerns; General Moly disputed the termination and countered that Amer itself had defaulted by missing a funding deadline — the years-long Chinese-financing strategy was collapsing in open dispute.