Each one in plain English, with the numbers worked through for a shareholder.
31 July 2008capital raising announcement● NeutralMajor
On July 30-31, 2008 the Hunt Family LP and two limited partners converted $5,000,000 of principal on the convertible note, the company drew a further $500,000 on an extension of the note, and the partnership then converted $598,548 of principal and interest. This discharges the note completely, and 20,394,192 units of common stock were issued on the terms from the November 13, 2007 8-K. This continues the pattern of Hunt-family funding converting to equity, following the April 2008 conversion; the new shares dilute other holders (inference).
1 May 2008capital raising announcement● NeutralMajor
On April 16, 2008 the Hunt Family Limited Partnership and two of its limited partners converted a convertible promissory note, $5,050,014 of principal and interest, into 20,200,056 units of common stock. This clears the note entirely, removing that debt and increasing the share count (inference: dilution for other holders). The units were issued under the terms in the November 13, 2007 8-K. The filing also shows the company now as HuntMountain Resources Ltd., a Washington corporation.
On April 24, 2006 the Hunt Family Limited Partnership, controlled by President and Chairman Tim Hunt and his wife, exercised warrants for 15,444,132 shares, paying the company $1,003,869. The warrants came from the March 23, 2005 stock purchase agreement; this brings in cash and increases the share count (inference: existing holders' percentage is diluted).
A March 2005 private placement of 1,500,000 special warrants at $0.10 each ($150,000 gross) to six investors was finalised: none rescinded, so the warrants converted into 1,500,000 common shares and the escrowed $150,000 was released to the company. All six buyers are Tim Hunt (President) or his relatives or his wife's parents, so the money came from insiders.
