18 Nov 2014listing compliance notice▼ BadMajor
INTERNATIONAL SILVER INC suspended its duty to file periodic reports with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
31 May 2013material agreement● NeutralMajor
A third amendment to the ISLV Partners convertible note: ISLV Partners lent another $500,000 and has the right to lend up to $700,000 more by July 1, 2013. The note converts at $0.20 per share, and a new warrant covers 2,500,000 shares at $0.40 through May 22, 2016, continuing the pattern of funding through convertible debt.
22 Feb 2013material agreement● NeutralMajor
The company signed a second amendment to its February 2012 convertible note with ISLV Partners for about $2,200,000 more: $1,000,000 loaned now and up to $1,200,000 more by April 15, 2013. The note converts at $0.20 per share, and ISLV Partners received a warrant for 5,000,000 shares at $0.40 exercisable through February 21, 2016, so the financing continues and potential dilution grows.
30 Aug 2012material agreement● Neutral
CEO Harold R. Shipes agreed to convert $54,290 of unpaid payroll owed to him into 271,452 shares of common stock plus 271,452 warrants exercisable at $0.40 per share for three years. This settles the debt with shares rather than cash and adds a small number of new shares.
9 Feb 2012capital raising announcement● NeutralMajor
The company signed a convertible note agreement with ISLV Partners, LLC, an unaffiliated party, for roughly $600,000 of gross proceeds. The note converts into shares at $0.20 each, and ISLV Partners also received a warrant for 3,000,000 shares at $0.40 exercisable through February 6, 2015, plus the right to lend at least $4,000,000 more on comparable terms by March 15, 2012. If converted, this would issue new shares, diluting existing holders.
25 Oct 2011material agreement● Neutral
This amendment only corrects the item number on the January 4, 2011 filing about the Pan American Mine and Caselton Concentrator agreement, from 2.01 to 1.01. It adds no new information and refers back to the original press release.
4 Jan 2011asset acquisition disposition▲ GoodMajor
The company announced a lease/purchase agreement to acquire the historic Pan American Zinc/Silver Mine and the Caselton Concentrator (a processing mill) in Lincoln County, Nevada, near its Prince Mine option. The press release gives no purchase price in the text provided, and says the mill needs minor repairs, permits in the company's name and a new tailings dam before it could restart.
14 Dec 2010asset acquisition disposition▲ Good
The company said it staked 35 additional mining claims covering 690 acres next to the Prince Silver Mine in Lincoln County, Nevada, which it holds under option. The press release describes the Prince Mine as a former producer and says a full exploration program is still needed before reserves meeting SEC standards can be established.
9 Nov 2010asset acquisition disposition● Neutral
The company filed an 8-K under the item for completed acquisitions or disposals, dated November 9, 2010, but the text provided contains only the cover page and a reference to a press release exhibit. The press release itself is not included, so what was acquired or sold, and for how much, cannot be determined from this filing.
1 Oct 2009auditor change● Neutral
This amends the August 2009 auditor-change filing to add that the PCAOB (the audit regulator) revoked Moore & Associates' registration on August 27, 2009, after the company had already replaced it with Seale and Beers. Moore & Associates declined to provide the updated letter to the SEC that the company requested.
6 Aug 2009auditor change● Neutral
On August 6, 2009 the company dismissed its auditor Moore & Associates Chartered and hired Seale and Beers, CPAs. The filing says there were no disagreements, and notes that the auditor's report on the 2008 annual accounts carried a going concern qualification (doubt about the company's ability to keep operating).
10 Sept 2008material agreement▲ GoodMajor
International Silver agreed with the sellers (Bruce and Elizabeth Strachan) to push the closing date for buying the Langtry silver property in California from September 7 to December 5, 2008, and to cut the upfront cash. Instead of the earlier $8,000,000 price, it now pays $2,000,000 by December 5, 2008, and owes the $6,000,000 balance over 15 years at 6% interest under two promissory notes. This changes the earlier Langtry purchase terms described in its 2007 annual report.