28 May 2025capital raising announcement● Neutral
O'Heeron made a second personal stock purchase, $236,868 at $0.0742/share, continuing to personally fund the company.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
4 Mar 2025capital raising announcement● NeutralMajor
Chairman Pete O'Heeron personally bought $277,260 of common stock and warrants at $0.09/share (a 10% discount to market) -- officer cash is now directly funding operations via ordinary stock purchases, not just loans or Class A control shares.
15 Nov 2023capital raising announcement▼ BadMajor
Pete O'Heeron alone bought 250,000 Class A super-voting shares back out of treasury for $9,525, consolidating control of the Class A voting bloc in his own hands rather than splitting it evenly with Gross.
25 Sept 2023capital raising announcement▼ BadMajor
Issued 398,000 more Class A super-voting shares to Gross and O'Heeron (199,000 each) for a token $19,502, bringing total Class A shares to 500,000 and their combined voting power to 100 million votes -- continuing the control-entrenchment mechanism first used in 2020, though at a much smaller Class A share count than that original 51-million-share issuance implied should exist by now.
11 Jan 2022capital raising announcement● NeutralMajor
CEO Brett Gross and Chairman Pete O'Heeron converted a combined $626,187 of the personal shareholder advances and loans they had made to the company into stock and warrants (units at $0.269/share) -- clear evidence the two officers had been substantially self-funding the company well before the officer-loan pattern already on record starting January 2024.
2 July 2020capital raising announcement▼ BadMajor
In a major control-entrenchment move, issued 51 million shares of new super-voting 'Class A Common Stock' -- 200 votes per share -- to two directors, Brett Gross and Pete O'Heeron, for a token $49,062 paid by offsetting existing company advances; the resulting 10.2 billion Class A votes outweighed the roughly 4.8 billion ordinary shares then outstanding, handing the two directors effective voting control of the company.
26 June 2017capital raising announcement▼ Bad
Borrowed $53,000 on an 8% convertible note maturing June 2018, convertible from six months out at a 35% discount to the average of the five lowest volume-weighted average prices. The 8-K says only 'one lender'; the note filed as an exhibit names Power Up Lending Group Ltd.
3 June 2016capital raising announcement● Neutral
Announced intent to conduct a new private placement, without disclosing size or terms in this filing.
7 Jan 2016capital raising announcement▼ Bad
Issued a $50,000, 12% convertible note to JSJ Investments, convertible at a 45% discount to the second-lowest recent trading price -- a smaller, tighter-terms repeat of JSJ's 2014 note.
8 Dec 2015capital raising announcement▼ BadMajor
Entered into a $500,000 convertible note with an unnamed institutional investor, with a $50,000 original issue discount and conversion priced at a 30% discount to the three lowest closing prices in the prior 20 trading days -- among the largest single notes since the 2008-09 program.
15 Dec 2014capital raising announcement▼ BadMajor
Borrowed $210,000 from Tangiers Capital, and separately consented to GCA Strategic Investment Fund's assignment of the November 2013 note (still owing $250,000) to an affiliated entity, Tangiers Investment Group, extending its maturity to November 2015 -- Tangiers now held both a new and an assigned note.
20 Oct 2014capital raising announcement▼ Bad
Borrowed $105,000 more on a 10% convertible note, with a $5,000 original issue discount, due October 2015 and convertible after 180 days at a 40% discount to the five-day volume-weighted average price, capped at 4.99% ownership. The 8-K says only 'one lender'; the note filed as an exhibit names WHC Capital, LLC.
2 Sept 2014capital raising announcement▼ BadMajor
Borrowed $150,000 from JSJ Investments via a 12% convertible note, convertible at a 45% discount to VWAP with a 140-150% prepayment premium -- JSJ's first appearance as a lender, well before the 2017 date already on record for this relationship.
26 Nov 2013capital raising announcement▼ BadMajor
Took out a $250,000 convertible note from a US Virgin Islands-based lender (later revealed as GCA Strategic Investment Fund Limited) -- interest-free unless in default, convertible at a steep 30% discount to VWAP -- the start of the serial small-note financing pattern that would define the company's next decade.
12 Sept 2012capital raising announcement● Neutral
Drew a further $50,000 tranche at $0.027/unit, the last of the 2012 drip-financing series in this batch.
12 Sept 2012capital raising announcement● Neutral
Drew a $50,000 tranche at $0.0293/unit from the recurring drip arrangement.
12 Sept 2012capital raising announcement● Neutral
Drew two more tranches on the same day -- $30,000 at $0.0303/unit and $50,000 at $0.0311/unit, the latter to an offshore investor -- bringing 2012's drip financing to its seventh and eighth rounds.
30 July 2012capital raising announcement● Neutral
Drew another $50,000 tranche ten days later, at $0.0333/unit -- two raises in the same month.
20 July 2012capital raising announcement● Neutral
Drew a $50,000 tranche at $0.03321/unit.
1 June 2012capital raising announcement● Neutral
Drew a $50,004 tranche at $0.027/unit, continuing the same recurring drip financing.
22 Mar 2012capital raising announcement● Neutral
Drew a further $56,880 tranche at $0.02844/unit -- the third small placement since February.
8 Mar 2012capital raising announcement● Neutral
Drew a $56,000 tranche from the same recurring investor at $0.02799/unit.
29 Feb 2012capital raising announcement● Neutral
Drew a $70,000 tranche from its standing single-investor unit placement, at $0.03168/unit.
24 Jan 2012capital raising announcement● Neutral
Granted 10.5 million stock options to officers and employees at $0.027 -- routine compensation at the now-depressed share price.
29 Dec 2011capital raising announcement▼ Bad
Sold $153,120 of units to three investors at $0.0264/unit -- the share price kept falling through 2011.
14 Jan 2011capital raising announcement▼ Bad
Sold a small $50,000 tranche of units to a single investor at $0.038/unit, continuing the pattern of shrinking, single-investor private placements.
15 Nov 2010capital raising announcement● NeutralMajor
Raised $1.235 million in two October/November private placements at $0.04-0.043/unit, roughly 3% of the per-share price paid by 2005 investors -- a measure of how much the stock, and the company's fundraising leverage, had deteriorated.
11 Aug 2010capital raising announcement▼ BadMajor
Voided the April 2010 share issuance as an error, cancelling and returning the 76.4 million shares to treasury, then granted a much larger option package -- 95.5 million shares at $0.038 -- to directors, officers and employees.
What it means for a shareholder
95.5m new shares at US$0.038 to raise about US$3.6m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
11 May 2010capital raising announcement▼ BadMajor
Issued 76.4 million shares to directors, officers and employees as compensation -- a large dilutive stock award relative to the company's then share count.
1 Dec 2009capital raising announcement▼ Bad
Increased five of the August 2009 notes by $206,212 just to cover annual Alaska land-claim fees -- keeping the claims in good standing was now being funded with more debt.