15 Nov 2012securities registration● Neutral
PARAMOUNT GOLD & SILVER CORP. amended an already-effective registration statement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
7 Nov 2012quarterly activities report● Neutral
PARAMOUNT GOLD & SILVER CORP. reported quarterly revenue of $0 and net income of $5.9 million for the period ended 2012-09-30.
7 Nov 2012asset acquisition disposition● Neutral
On November 5, 2012, the company's subsidiary X-Cal USA sold its Reese River mining claims in Nevada to Valor Gold Corporation for 6 million restricted Valor shares and $21,000 cash, subject to a 2% royalty held by Royal Gold. The filing says the claims were not significant to the company and were carried at $64,000, so this removes one of the Nevada projects listed in the X-Cal acquisition of 2010. The same filing records new or amended employment agreements: Glen van Treek (VP Exploration) at $200,000 a year, CFO Carlo Buffone raised to $200,000, and CEO Christopher Crupi's agreement amended. All three get two times annual compensation if terminated after a change of control, plus a board-determined cash bonus before a change of control that can take into account any premium shareholders receive.
9 Oct 2012securities registration● Neutral
PARAMOUNT GOLD & SILVER CORP. filed the final prospectus for a registered offering.
24 Sept 2012securities registration● Neutral
PARAMOUNT GOLD & SILVER CORP. amended an already-effective registration statement.
22 May 2012securities registration● Neutral
PARAMOUNT GOLD & SILVER CORP. filed the final prospectus for a registered offering.
15 May 2012securities registration● Neutral
PARAMOUNT GOLD & SILVER CORP. amended a filing by which it registered a securities offering with the SEC.
9 May 2012quarterly activities report● Neutral
PARAMOUNT GOLD & SILVER CORP. reported quarterly revenue of $0 and net income of $5.3 million for the period ended 2012-03-31.
19 Apr 2012securities registration● Neutral
PARAMOUNT GOLD & SILVER CORP. registered a securities offering with the SEC.
11 Apr 2012securities registration● Neutral
PARAMOUNT GOLD & SILVER CORP. filed notice of an exempt private placement.
30 Mar 2012capital raising announcement● NeutralMajor
On March 30, 2012 the company closed a private placement of 10,417,776 shares at $2.05 each, raising $21,356,441 with no warrants. This is up from the 8,917,776 shares and $18.2 million announced on March 28. The money is for exploration and development plans and general working capital, including the San Miguel drill program and Preliminary Economic Assessments for San Miguel and Sleeper that management expects this year. Shares outstanding rise from 136,944,512 to 147,362,288, so existing holders are diluted by about 7%. The company agreed to try to register the new shares for resale and to pay a finder's fee on some of the subscriptions.
What it means for a shareholder
10.4m new shares at $2.05 to raise about $21.4m. That's 7.1% dilution: every existing holder's slice gets 7.1% smaller. If you held $1,000 of shares (488 at the issue price), your slice goes from 0.000356% to 0.000331% of the company. To keep it you'd need 37 more shares - about $76 at the issue price.
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27 Mar 2012listing compliance notice▼ Bad
PARAMOUNT GOLD & SILVER CORP. withdrew a registration statement, abandoning the offering it covered.
9 Feb 2012quarterly activities report● Neutral
PARAMOUNT GOLD & SILVER CORP. reported quarterly revenue of $0 and net income of $2.2 million for the period ended 2011-12-31.
1 Feb 2012securities registration● Neutral
PARAMOUNT GOLD & SILVER CORP. registered a securities offering with the SEC using its shelf eligibility.
8 Nov 2011quarterly activities report▼ Bad
PARAMOUNT GOLD & SILVER CORP. reported quarterly revenue of $0 and a net loss of $870 thousand for the period ended 2011-09-30.
27 June 2011material agreement● Neutral
On June 23, 2011 the company signed an agreement with McNicoll, Lewis & Vlak LLC to sell up to 2,500,000 shares at market prices from time to time, paying the agent a 3% commission. The company is not obliged to sell any shares and can suspend or end the agreement. Any sales would add shares and dilute existing holders, using the existing shelf registration. The filing does not say what the proceeds would be used for.
23 June 2011securities registration● Neutral
PARAMOUNT GOLD & SILVER CORP. filed the final prospectus for a registered offering.
9 May 2011quarterly activities report▼ Bad
PARAMOUNT GOLD & SILVER CORP. reported quarterly revenue of $42 thousand and a net loss of $2.6 million for the period ended 2011-03-31.
8 Feb 2011quarterly activities report▼ Bad
PARAMOUNT GOLD & SILVER CORP. reported quarterly revenue of $204 thousand and a net loss of $24.9 million for the period ended 2010-12-31.
11 Jan 2011substantial holder notice● Neutral
FCMI FINANCIAL CORPORATION, ALBERT D. FRIEDBERG reported a PARAMOUNT GOLD & SILVER CORP. shareholding of 24,450,000 shares (17.30% of votes) in a periodic institutional filing.
23 Dec 2010substantial holder notice● Neutral
FCMI FINANCIAL CORPORATION, ALBERT D. FRIEDBERG reported a PARAMOUNT GOLD & SILVER CORP. shareholding of 26,250,000 shares (18.60% of votes) in a periodic institutional filing.
22 Dec 2010asset acquisition disposition● Neutral
This fourth amendment to the X-Cal purchase report restates the pro forma combined balance sheet to reflect a new accounting rule (FASB ASC 815-40-15-7I) and shows the adjustments to X-Cal's mineral property amounts in gross. The restated pro forma shows combined mineral property interests of $49,885,780 and a combined pro forma loss of $4,874,006 for the nine months to March 31, 2010. The filing says the purchase price allocation is preliminary. These are accounting presentation changes on a deal completed in August 2010, not a new transaction.
17 Nov 2010asset acquisition disposition● Neutral
This third amendment only adds the name of the auditor, Smythe Ratcliffe LLP, to the auditors' report on X-Cal's financial statements filed in the previous amendment. It contains no new developments on the X-Cal purchase.
8 Nov 2010quarterly activities report▼ Bad
PARAMOUNT GOLD & SILVER CORP. reported quarterly revenue of $21 thousand and a net loss of $3.9 million for the period ended 2010-09-30.
5 Nov 2010quarterly activities report▼ Bad
PARAMOUNT GOLD & SILVER CORP. reported quarterly revenue of $21 thousand and a net loss of $3.9 million for the period ended 2010-09-30.
5 Nov 2010quarterly activities report▼ Bad
PARAMOUNT GOLD & SILVER CORP. reported quarterly revenue of $21 thousand and a net loss of $3.9 million for the period ended 2010-09-30.
5 Nov 2010quarterly activities report▼ Bad
PARAMOUNT GOLD & SILVER CORP. reported quarterly revenue of $21 thousand and a net loss of $3.9 million for the period ended 2010-09-30.
2 Nov 2010asset acquisition disposition● Neutral
This second amendment to the report on the August 2010 X-Cal purchase adds X-Cal's audited financial statements for the years ended March 31, 2010 and 2009, which had not been filed before. They show X-Cal had a net loss of $1,549,041 for the year to March 31, 2010, cash of $179,428, mineral property interests of $31,031,548 and a deficit of $20,404,000. The notes say X-Cal's ability to continue depends on raising more financing (X-Cal's own going-concern disclosure, from before the takeover). The deal itself is unchanged.
13 Sept 2010late filing notice▼ Bad
PARAMOUNT GOLD & SILVER CORP. notified the SEC that its annual report would be filed late.
13 Sept 2010asset acquisition disposition● Neutral
This amendment repeats the August 25 report on the completed X-Cal purchase with the same terms and pro forma financials, marks the press release exhibit as previously filed, and adds a cover figure of 132,077,034 company shares outstanding as of September 13, 2010. It contains no new developments on the deal.