Past year: ▲ 0%(0.01c – 0.01c USD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Oct 2014capital raising announcement▼ BadMajor
From September 23 to October 29, 2014 Mondial issued 226,497,142 shares to reduce $10,187 of convertible notes and 155,000,000 shares to reduce $9,300 of payables, taking shares outstanding from about 1,594,428,611 to about 1,976,025,753. The cover page gives September 17 as the event date, apparently a carry-over.
23 Sept 2014capital raising announcement▼ BadMajor
From September 17 to 22, 2014 Mondial issued 142,928,571 shares to reduce $6,575 of convertible notes and 90,000,000 shares to reduce $5,400 of payables, taking shares outstanding from about 1,361,500,040 to about 1,594,428,611.
16 Sept 2014capital raising announcement● NeutralMajor
On September 10, 2014 Mondial and its majority-owned Boomerang Oil signed a non-binding letter of intent with Oregon-based MRGB3, LLC, a reduced-carbon farming company, targeting a close around September 30, 2014. Under it, Series C preferred holders would swap their shares for Mondial's 66.17% interest in Boomerang, Michael Gillespie would become CEO, and a name change (possibly to Reduced Carbon Farming, Inc.) is floated; this would move Mondial away from oil and gas, with terms still to be settled. Separately, on September 15 it issued two 10% convertible notes of $50,000 each (a first tranche of at least $25,000, the rest on conditions) maturing March 15, 2015, and issued 90,000,000 shares to cut $5,400 of payables, reaching about 1,361,500,040 shares.
10 Sept 2014capital raising announcement▼ BadMajor
From September 5 to 9, 2014 Mondial issued 88,340,000 shares to reduce $4,417 of convertible notes, taking shares outstanding from 1,183,160,040 to about 1,271,500,040. Dilution continues.
28 Aug 2014capital raising announcement▼ BadMajor
From August 25 to 27, 2014 Mondial issued 182,257,142 shares to reduce $7,970 of convertible notes and 90,000,000 shares to reduce $5,400 of payables, taking shares outstanding from 910,902,898 to about 1,183,160,040. Shares have now passed one billion.
25 Aug 2014capital raising announcement▼ BadMajor
From August 19 to 22, 2014 Mondial issued 75,757,000 shares to reduce $2,188 of notes and $1,920 of payables, reaching about 910,902,898 shares. It also raised authorized shares from 1,500,000,000 to 5,000,000,000 (4,490,000,000 common), effective August 19, 2014, with consent from holders of at least 76.08% of votes through supervoting preferred stock, to help meet transfer-agent share reserve requirements. This gives room for far more dilution; the filing's text says the board approved on 'August 18, 2013', which looks like a typo (an inference).
15 Aug 2014capital raising announcement▼ BadMajor
From August 14 to 15, 2014 Mondial issued 71,428,571 shares to reduce convertible notes by $3,000, bringing shares outstanding to about 835,145,977. The filing states the period start as August 13 and the start count matches the prior filing.
14 Aug 2014capital raising announcement▼ BadMajor
From August 11 to 13, 2014 Mondial issued 149,855,190 shares to reduce convertible notes by $6,289 and payables by $1,920, taking shares outstanding from 613,862,216 to about 763,717,406. Existing holders are diluted further.
11 Aug 2014capital raising announcement▼ BadMajor
From August 6 to 8, 2014 Mondial issued 136,732,457 shares to reduce $8,654 of note and payable balances, lifting shares outstanding from 477,129,759 to 613,862,216. The dilution keeps going in small debt-for-share swaps.
6 Aug 2014capital raising announcement▼ BadMajor
From August 1 to 5, 2014 Mondial issued 144,827,190 more common shares to cut $9,058 of convertible note and payable balances, taking shares outstanding from 332,302,490 to 477,129,759. This continues the heavy dilution seen in the August 1 filing.
1 Aug 2014capital raising announcement▼ BadMajor
Between May 20 and July 31, 2014 Mondial issued 309,120,125 common shares to cut $77,382 of convertible note and payable balances, taking shares outstanding from 23,182,295 to 332,302,490, about 14 times as many. It also issued a June 13, 2014 convertible note with a $44,000 face value for two $22,000 installments, 10% interest, maturing December 13, 2014. This is heavy dilution for existing shareholders.
9 June 2014capital raising announcement● Neutral
On June 1, 2014 Mondial hired Robert M. Cohen of Revolution Investment Management as Chairman of a Financial Advisory Board, at $60,000 for six months, payable from revenue or from a share of capital raised. He also gets a 12-month 6% convertible debenture, stated as $75,000 (written inconsistently in the text), and the agreement can be renewed in six-month periods.
3 Apr 2014capital raising announcement▼ BadMajor
Mondial approved restricted common share issuances for services in February and March 2014. These include 1,600,000 shares to Steven Antebi valued at $100,000, 3,000,000 to Dennis Alexander's Global Media Network USA, 1,500,000 to CFO Joanne Sylvanus, and further blocks to consultants and to attorney Jeffrey Proper and associates, and others. Most values are left blank pending valuation, with the last known price about $0.1499 a share on January 30, 2014 and a recent 1:1500 reverse split noted. For shareholders this means more dilution, including to insiders.
15 Jan 2014capital raising announcement▼ BadMajor
Effective January 14, 2014 Mondial created a Series C Preferred Stock (2,000,000 shares authorized, 31,500 votes each, not convertible into common) and issued 50,000 shares each to Global Media Network USA (owned by Chairman/CEO Dennis Alexander) and CFO Joanne Sylvanus for services. That is 3,150,000,000 votes in total (100,000 shares x 31,500, my calculation), giving the two insiders voting control over the common holders. The filing states a certificate date of July 13, 2014 alongside the January 14, 2014 effective date, an apparent inconsistency.
