Past year: ▼ 31%(0.45c – 1.00c USD)
Each one in plain English, with the numbers worked through for a shareholder.
6 Aug 2014securities registry admin▼ Bad
Adopted a 2014 stock plan allowing up to 20 million shares to be handed to directors, officers and consultants - a large new share pool authorised at a moment when the stock was worth about four cents and lenders were already converting debt into tens of millions of shares.
20 June 2014substantial holder notice● Neutral
JDF Capital Inc disclosed a new substantial Lithium Exploration Group, Inc. shareholding (5.82% of votes).
5 June 2014capital raising announcement▼ Bad
JDF converted 227,700 preferred shares into 10.7 million common shares at 2.125 cents in a single day. Since January the Series B preferred alone had produced well over 50 million new shares.
21 May 2014capital raising announcement▼ Bad
JDF took another 7 million shares for 149,800 preferred at 2.14 cents - by now a monthly routine.
What it means for a shareholder
7.0m new shares at $0.0214 to raise about $149,800. That's 3.8% dilution: every existing holder's slice gets 3.8% smaller. If you held $1,000 of shares (46,729 at the issue price), your slice goes from 0.0264% to 0.0254% of the company. To keep it you'd need 1,846 more shares - about $40 at the issue price.
Create a free account to see this worked out for your own holding.
20 May 2014quarterly activities report▼ Bad
Lithium Exploration Group, Inc. reported quarterly revenue of $18 thousand and a net loss of $4.7 million for the period ended 2014-03-31.
16 May 2014late filing notice▼ Bad
Lithium Exploration Group, Inc. notified the SEC that its quarterly report would be filed late.
9 Apr 2014capital raising announcement▼ Bad
JDF converted 159,825 preferred shares into 6.9 million common shares at 2.3 cents.
4 Apr 2014material agreement● Neutral
Renewed Alexander Walsh's employment for another two years to January 2016 on unchanged terms - $120,000 a year, in shares if there is no cash.
3 Apr 2014asset acquisition disposition▼ BadMajor
Two things at once, and the smaller one is the more revealing. The company completed its Alberta expansion, buying 50% of Tero Oilfield Services - not the 75% announced in August - for C$1 million through subsidiary Alta Disposal, with an option on a further 25%. It paid for it by signing eleven separate convertible loans in nine days, roughly $1.3 million from JSJ, Centaurian, LG Capital, St. George, Vista, Union Capital, Iconic, Adar Bays, Black Mountain, JDF and a numbered British Columbia company, almost every one convertible at half the recent low share price.
25 Mar 2014capital raising announcement▼ Bad
Inlight converted another 39,016 preferred shares into 1.74 million common shares at 1.6 cents.
25 Mar 2014capital raising announcement▼ BadMajor
A fourth name, Blue Hill Associates, converted 50,000 preferred shares into 3.1 million common shares at 1.6 cents and immediately sold the entitlement on to Blue Citi. Roughly 29 million new shares went out in six weeks to four different holders of the same restructured debt.
20 Mar 2014capital raising announcement▼ Bad
JDF itself converted 122,175 preferred shares into 6.75 million common shares at 1.81 cents.
20 Mar 2014capital raising announcement▼ Bad
Blue Citi converted a further 106,500 preferred shares into 6 million common shares at 1.775 cents, on the same day JDF took 6.75 million of its own.
19 Mar 2014capital raising announcement▼ Bad
A third holder, Inlight, converted 95,984 Series B preferred shares into 6 million common shares at 1.6 cents. The preferred stock issued to JDF in January was being parcelled out to a widening circle of converters.
4 Mar 2014substantial holder notice● Neutral
St George Investments LLC, Fife Trading, Inc, John M. Fife disclosed a new substantial Lithium Exploration Group, Inc. shareholding (7.16% of votes).
27 Feb 2014financial restatement▼ BadMajor
Withdrew its December 2013 quarterly accounts a week after filing them, having wrongly charged expenses incurred by Blue Tap before the company owned it; the reported loss was about $138,000 too big. A small error, but it means the first set of accounts including the newly acquired subsidiary could not be relied on.
27 Feb 2014capital raising announcement▼ BadMajor
The Series B preferred started converting almost immediately, and not by JDF: Blue Citi took 80,000 of the preferred shares and turned them into 5 million common shares at 1.6 cents across two notices in a fortnight. What had been described as retiring debt was simply the same claim arriving as stock, in someone else's hands.
19 Feb 2014quarterly activities report▼ Bad
Lithium Exploration Group, Inc. reported quarterly revenue of $0 and a net loss of $1.0 million for the period ended 2013-12-31.
18 Feb 2014late filing notice▼ Bad
Lithium Exploration Group, Inc. notified the SEC that its quarterly report would be filed late.
22 Jan 2014capital raising announcement▼ Bad
Blue Citi converted the last $26,100 of the loan it had bought from JDF into 1.6 million shares at 1.63 cents. In six weeks that single $150,000 slice of debt had turned into 4.6 million new shares.
16 Jan 2014material agreement● Neutral
Extended the finance chief's contract to a full twelve months at the same $12,000 a month, still payable in freely tradeable stock at the company's choice - the third such contract for Bryan Kleinlein in ten months.
9 Jan 2014material agreement▼ BadMajor
Restructured with JDF Capital, which by now held the old 2012 Hagen debenture too. The remaining $299,000 of that debenture got a slightly gentler conversion discount, but $1.13 million of 2013 notes were swapped for a new class of Series B preferred stock that still converts at half the lowest share price of the previous twenty days and ranks ahead of ordinary shareholders in a wind-up. The debt was not repaid, only reissued in a form that sits above the common stock.
30 Dec 2013capital raising announcement▼ BadMajor
The dilution spiral became visible: JDF sold $150,000 of its loan on to Blue Citi, which converted just $48,900 of it into 3 million shares at 1.63 cents apiece. The company's debt was now being traded between lenders and turned into stock at prices that made the share count almost meaningless.
15 Nov 2013quarterly activities report▼ Bad
Lithium Exploration Group, Inc. reported quarterly revenue of $0 and a net loss of $596 thousand for the period ended 2013-09-30.
14 Nov 2013quarterly activities report▼ Bad
Lithium Exploration Group, Inc. reported quarterly revenue of $0 and a net loss of $596 thousand for the period ended 2013-09-30.
24 Oct 2013asset acquisition disposition▲ GoodMajor
Completed the Blue Tap purchase, buying 51% of the Morinville water-disposal business for about C$450,000 through a new Alberta subsidiary, Alta Disposal, alongside 49% holder Excel Petroleum, with a path to 70% by funding a further $420,000 and Alexander Walsh installed as Blue Tap's chairman. The company finally owned a revenue-capable asset rather than an option, though the leases carry a 3% royalty to their former owner.
22 Oct 2013capital raising announcement● Neutral
Closed the loop on the chief executive's share swap: the 20 million preferred shares agreed in October 2012 were issued and immediately converted straight back into 20 million common shares, leaving Alexander Walsh exactly where he started a year earlier.
1 Oct 2013late filing notice▼ Bad
Lithium Exploration Group, Inc. notified the SEC that its annual report would be filed late.
27 Sept 2013capital raising announcement▼ BadMajor
Took another $500,000 facility from JDF Capital, of which $250,000 was funded against a note of $306,250 that had eighteen months of 15% interest baked in up front, plus 3.1 million warrants struck at 7 cents. The warrant price tells the story on its own: 18.5 cents in February, 7 cents by September.
19 Sept 2013material agreement● Neutral
Rolled Bryan Kleinlein's finance-chief contract over for another four months on identical $12,000-a-month cash-or-stock terms - the second short renewal in six months.
