16 July 2014listing compliance notice▼ BadMajor
Newport Gold, Inc. deregistered its securities, ending its obligation to file reports with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 Nov 2008listing compliance notice▼ BadMajor
Newport Gold, Inc. deregistered its securities, ending its obligation to file reports with the SEC.
27 Aug 2008capital raising announcement▼ BadMajor
Newport Gold wiped out $711,861 of debt by issuing 14.2 million shares at $0.05 each to 15 individuals -- a heavily dilutive conversion that included debt originally owed to CEO Derek Bartlett ($277,859), his late son's estate, and major shareholder Ann Pineau ($302,000), i.e. mostly insider and insider-adjacent debt.
11 June 2008financial restatement● Neutral
Newport Gold filed a second amendment restating the same Q3 2007 correction, this time attributing the finding to a different accounting firm (Pannell Kerr Forster) than the one named in the prior amendment (Smythe Ratcliffe) -- an inconsistency in the filings themselves rather than a new financial issue.
28 May 2008financial restatement● Neutral
Newport Gold filed the corrected Q3 2007 financials, confirming the amended 10-QSB (filed May 16, 2008) now properly reflects the August 2007 share issuance.
30 Apr 2008financial restatement▼ Bad
Newport Gold restated its Q3 2007 financial statements after its auditor found that a 3 million-share issuance from August 2007, though disclosed elsewhere in the filing, had been omitted from the financial statements themselves.
14 Aug 2007asset acquisition disposition▲ GoodMajor
Newport Gold exercised its right of first refusal to earn an additional 30% interest in the Inner Mongolia property, issuing 3 million more shares -- bringing its total option up to a full 50% interest in the property.
30 Nov 2006capital raising announcement● Neutral
Newport Gold raised another $50,000 selling 500,000 shares to a single non-U.S. investor in a follow-on offshore placement.
What it means for a shareholder
500,000 new shares at about US$0.100 to raise about US$50,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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28 Nov 2006capital raising announcement▲ GoodMajor
Newport Gold acquired an option to earn a 20% interest in a mineral exploration property in Inner Mongolia, China, paying 2.5 million restricted shares to nine individual optionors and property holder Noront Resources -- the company's first real operating asset.
31 Oct 2006capital raising announcement● Neutral
Newport Gold raised $70,000 selling 700,000 shares to three non-U.S. investors in an offshore private placement.
What it means for a shareholder
700,000 new shares at about US$0.100 to raise about US$70,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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