29 Aug 2007late filing notice▼ Bad
HANDENI GOLD INC. notified the SEC that its annual report would be filed late.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Apr 2007late filing notice▼ Bad
HANDENI GOLD INC. notified the SEC that its quarterly report would be filed late.
31 Jan 2007capital raising announcement● NeutralMajor
Effective January 23, 2007 the company raised $1,484,200 by issuing 2,120,277 shares at $0.70, with no finder's fees. On the same date it issued 11,650,000 shares under sale and purchase agreements from November 2006 for asset purchases; the filing refers to a 10-QSB for details and does not say what the assets are. Share count rose by about 13.8 million, diluting existing holders.
What it means for a shareholder
2.1m new shares at US$0.700 to raise about US$1.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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16 Jan 2007late filing notice▼ Bad
HANDENI GOLD INC. notified the SEC that its quarterly report would be filed late.
26 Oct 2006financial restatement▼ BadMajor
On October 19, 2006 the audit committee said the February 28, 2006 quarterly and May 31, 2006 annual financial statements should no longer be relied on, because a December 2005 investor relations contract with Broadstreet Marketing ($75,000 plus $150,000 of shares), signed by former president Laurence Stephenson, was not recorded. The restatement is expected to raise the net loss for the year to May 31, 2006 by $225,000.
16 Oct 2006late filing notice▼ Bad
HANDENI GOLD INC. notified the SEC that its quarterly report would be filed late.
30 Aug 2006late filing notice▼ Bad
HANDENI GOLD INC. notified the SEC that its annual report would be filed late.
19 May 2006director interest notice● Neutral
M-b Trust became a HANDENI GOLD INC. 10%+ owner and company insider (initial ownership filing).
19 May 2006substantial holder notice● Neutral
The M-B Trust disclosed a new substantial HANDENI GOLD INC. shareholding (19.90% of votes).
16 May 2006asset acquisition disposition● Neutral
A second amendment adding detail to the Pennsylvania rescission matter: the offer went to one couple, the other US investors were two California couples, and the offering had 38 subscribers (35 in British Columbia) paying $397,000 in total. No rescission offer is planned for the British Columbia or California residents.
11 May 2006asset acquisition disposition▼ Bad
The company disclosed that the Pennsylvania Securities Commission alleged (January 23, 2006) that it sold shares without complying with Regulation D or registering them. On May 4, 2006 it offered two Pennsylvania investors who bought in April 2005 the right to sell their shares back at $0.30 plus interest. It does not plan a similar offer to California investors.
4 May 2006asset acquisition disposition▲ GoodMajor
On April 26, 2006 the company closed the purchase of three Tanzanian licences (Tabora, Ashanti South West, Negero/Green Hills), issuing 16,000,000 restricted shares, with two more licences (Morogoro and KM 7) due within 120 days (by August 24, 2006) for $25,000, then $50,000 within six months. The vendors' controller Kulvinder Matharu became a director and Chairman, and directors and an ex-director received 7,125,000 of the shares. On April 27, 2006 it signed a Strategic Alliance with Canaco Resources, under which Canaco would pay $350,000 once the company holds five licences and commit up to $2 million over two years, and could earn up to 70% in chosen prospects. The filing also describes the company as a start-up exploration-stage shell with no revenue and with PAC claims in British Columbia.
3 May 2006director interest notice● Neutral
HANDENI GOLD INC. Treasurer Gurpreet (gus) Singh Sangha gifted 350,000 shares.
3 May 2006director interest notice● Neutral
HANDENI GOLD INC. Chief Financial Officer Antonia Bold-de-haughton gifted 200,000 shares.
3 May 2006director interest notice● Neutral
Harpreet Singh Sangha became a HANDENI GOLD INC. President and CEO and company insider (initial ownership filing).
3 May 2006director interest notice● Neutral
Antonia Bold-de-haughton became a HANDENI GOLD INC. Chief Financial Officer and company insider (initial ownership filing).
2 May 2006director interest notice● Neutral
Kulvinder Matharu became a HANDENI GOLD INC. Chairman and company insider (initial ownership filing).
2 May 2006director interest notice● Neutral
Daniel Yona became a HANDENI GOLD INC. director and company insider (initial ownership filing).
2 May 2006director interest notice● Neutral
HANDENI GOLD INC. Chairman Kulvinder Matharu gifted 600,000 shares.
2 May 2006director interest notice● Neutral
Joseph Rugumyamheto became a HANDENI GOLD INC. director and company insider (initial ownership filing).
2 May 2006director interest notice● Neutral
HANDENI GOLD INC. director Daniel Yona gifted 100,000 shares.
2 May 2006director interest notice● Neutral
HANDENI GOLD INC. Chairman Daniel Yona gifted 100,000 shares.
13 Apr 2006late filing notice▼ Bad
HANDENI GOLD INC. notified the SEC that its quarterly report would be filed late.
13 Dec 2005director interest notice● Neutral
HANDENI GOLD INC. Chief Financial Officer Gurpreet (gus) Singh Sangha sold 10,000 shares at $0.94.
21 Nov 2005material agreement● Neutral
This filing repeats the November 2005 amendments that doubled the shares payable to KBT (5,600,000), Hydro-Geos (5,200,000) and Megadeposit (5,200,000) for the Tanzanian licences. The text is the same as the filing three days earlier, so it adds nothing new.
18 Nov 2005director interest notice● Neutral
HANDENI GOLD INC. Chief Financial Officer Gurpreet (gus) Singh Sangha sold 87,000 shares.
18 Nov 2005material agreement▼ BadMajor
On November 10, 2005 the company amended the three August 2005 Tanzanian licence purchase agreements, doubling the shares it will issue: KBT from 2,800,000 to 5,600,000, Hydro-Geos from 2,600,000 to 5,200,000, and Megadeposit from 2,600,000 to 5,200,000. The deals remain subject to due diligence and to all closing together. Shareholders face more dilution for the same licences.
21 Oct 2005director interest notice● Neutral
HANDENI GOLD INC. Chief Financial Officer Gurpreet (gus) Singh Sangha sold 5,000 shares at $1.04.
20 Oct 2005capital raising announcement● Neutral
The company sold 1,322,332 shares at $0.30 on October 17, 2005 for $396,699.60 before expenses, with no finder's fee. Proceeds are for working capital and general purposes. Of these, 1,127,666 shares went to 33 non-US holders and 194,666 to three US accredited investors, so existing holders were diluted.
23 Sept 2005director interest notice● Neutral
HANDENI GOLD INC. Chief Financial Officer Gurpreet (gus) Singh Sangha sold 2,500 shares at $0.90.