15 Dec 2011quarterly activities report▼ Bad
MV Portfolios, Inc. reported a quarterly net loss of $132 thousand for the period ended 2011-10-31.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 Sept 2011quarterly activities report● Neutral
MV Portfolios, Inc. reported a quarterly net income of $314 thousand for the period ended 2011-07-31.
21 June 2011capital raising announcement▲ Good
California Gold closed an over-allotment on its private placement for another $325,000 (13,000,000 units), bringing the total to 76,478,258 units and $1,911,956.45, up from $1,536,956.45 at the January 2011 closing. Proceeds are earmarked for exploring the AuroTelurio property optioned from Mexivada and for working capital. The press release also says a surface rights agreement with the landowner was signed May 16, 2011 at $14,400 a year, which resolves the condition the February 2011 option agreement said was needed before closing; the filing does not itself say the option closing has occurred.
14 June 2011quarterly activities report▼ Bad
MV Portfolios, Inc. reported a quarterly net loss of $480 thousand for the period ended 2011-04-30.
2 May 2011late filing notice▼ Bad
MV Portfolios, Inc. notified the SEC that its annual report would be filed late.
18 Mar 2011auditor change● Neutral
Amendment No. 3 was filed solely to add Davis Accounting Group's reply letter, received March 18, 2011, as Exhibit 16.2. The filing does not say what the letter states, and the disclosure that the 2009 and 2010 financials are not considered audited is unchanged.
4 Mar 2011auditor change● Neutral
Amendment No. 2 only combines the July 2010 auditor-change disclosure with the March 2011 licensing disclosure into one filing; the company states no new information was added.
2 Mar 2011auditor change▼ BadMajor
Following an SEC letter dated February 28, 2011, the company disclosed that former auditor Davis Accounting Group's Utah licenses lapsed in 2008 and were revoked on November 4, 2010, so Davis was not duly licensed when it audited the years ended January 31, 2010 and 2009. The SEC therefore does not consider those financial statements audited. This undermines the re-audit planned in 2009 and leaves the financials needing a valid audit (the need for a new audit is an inference).
16 Feb 2011material agreement▲ GoodMajor
On February 11, 2011 the company signed a property option agreement with Mexivada that replaces the October 2010 letter of intent, keeping the same terms: up to 80% of AuroTellurio for up to $3,000,000 of exploration over four years, $290,000 in cash and 1,650,000 shares. The company says it is no longer a shell company, that the minimum-financing condition was met by the December 2010 placement, and that it expects closing within sixty days, though closing still needs a surface rights agreement with the landowner.
18 Jan 2011capital raising announcement● Neutral
A second closing of the December private placement on January 13, 2011 sold another 3,000,000 units for $75,000. Total sold is now 61,478,258 units for $1,536,956.45.
30 Dec 2010capital raising announcement● NeutralMajor
On December 23, 2010 the company closed a private placement of 58,478,258 units at $0.025 each, raising $1,461,956.45. 36,478,258 units carry common shares and 22,000,000 carry non-voting Series A convertible preferred shares, each with a warrant for half a common share at $0.125 exercisable for 18 months. It said it has finished due diligence and will proceed with the AuroTellurio acquisition, paying Mexivada the $15,000 non-refundable part of the down payment; this adds a large number of new shares for existing holders (dilution is an inference).
30 Dec 2010securities registration● Neutral
MV Portfolios, Inc. amended a filing by which it filed notice of an exempt private placement.
17 Dec 2010quarterly activities report▼ Bad
MV Portfolios, Inc. reported a quarterly net loss of $334 thousand for the period ended 2010-10-31.
1 Dec 2010securities registration● Neutral
MV Portfolios, Inc. filed notice of an exempt private placement.
12 Oct 2010material agreement● NeutralMajor
California Gold Corp. signed a binding letter of intent on October 7, 2010 with Mexivada Mining Corp. to earn an 80% interest in the AuroTellurio tellurium-gold-silver property in Sonora, Mexico. To earn it, the company must spend $3,000,000 on exploration over four years ($750,000 a year), pay $290,000 in cash in total and issue 1,650,000 restricted shares; closing requires it to raise enough capital for the first year's commitment. This is the first mining property named in the filings seen, after years with no operating assets stated.
20 Sept 2010quarterly activities report▼ Bad
MV Portfolios, Inc. reported a quarterly net loss of $87 thousand for the period ended 2010-07-31.
15 Sept 2010late filing notice▼ Bad
MV Portfolios, Inc. notified the SEC that its quarterly report would be filed late.
9 July 2010auditor change● Neutral
On July 8, 2010 the company dismissed Davis Accounting Group and engaged MaloneBailey, LLP for the fiscal year ending January 31, 2011. Davis's reports had included a going-concern warning citing lack of revenues and history of losses, and there were no disagreements.
3 May 2010late filing notice▼ Bad
MV Portfolios, Inc. notified the SEC that its annual report would be filed late.
15 Sept 2009late filing notice▼ Bad
MV Portfolios, Inc. notified the SEC that its quarterly report would be filed late.
11 Sept 2009auditor change● Neutral
On September 10, 2009 the company dismissed Seale & Beers, hired a month earlier, and engaged Davis Accounting Group P.C., the firm it said would re-audit its prior-year financials. Seale & Beers had issued no reports and there were no disagreements.
10 Sept 2009auditor change▼ BadMajor
This amendment says the PCAOB revoked Moore & Associates' registration on August 27, 2009, so the company's financial statements for the year ended January 31, 2009 can no longer be relied on with that audit and must be re-audited. It plans to hire Davis Accounting Group to re-audit them and to file amended 10-K filings with the results. This builds on the August 2009 auditor change.
13 Aug 2009auditor change● Neutral
The company, now called California Gold Corp., said its auditor Moore & Associates Chartered resigned on August 7, 2009 and Seale and Beers, CPAs was hired the same day. The prior audit report carried a going-concern warning, and the filing reports no disagreements with the old auditor.
15 June 2009late filing notice▼ Bad
MV Portfolios, Inc. notified the SEC that its quarterly report would be filed late.
1 May 2009late filing notice▼ Bad
MV Portfolios, Inc. notified the SEC that its annual report would be filed late.
15 Sept 2008late filing notice▼ Bad
MV Portfolios, Inc. notified the SEC that its quarterly report would be filed late.
30 Apr 2008late filing notice▼ Bad
MV Portfolios, Inc. notified the SEC that its annual report would be filed late.
14 Sept 2007late filing notice▼ Bad
MV Portfolios, Inc. notified the SEC that its quarterly report would be filed late.
9 Aug 2007business combination▼ BadMajor
Effective August 8, 2007 the parties unwound the merger, citing recent developments in public equity and debt markets and conditions in the mining industry, among other factors. Holdings went back to its former owner, the 31,000,000 shares were returned to the company, and Holdings owes $557,927.30 under a 9% note due November 15, 2007 secured by its assets. The company was renamed US Uranium Inc., the pre-merger holders regained control, and David Rector resumed all top officer roles; 25,193,002 shares are outstanding plus 1,190,000 warrants.
13 July 2007asset acquisition disposition● NeutralMajor
On July 11, 2007 the merger with Cromwell Uranium Holdings, a uranium exploration company, closed. Holdings' owner received 31,000,000 company shares, the debentures converted into 1,190,000 shares and 1,190,000 warrants, and Holdings' managers took four of five board seats. The original shell business was sold to Karen Law and Lyle Smith in exchange for their 44,450,000 shares, and the company said it plans a private offering of about $4.5 million.