12 Mar 2008director interest notice● Neutral
Silver Dragon Resources Inc. President and CEO Marc Hazout sold 240,000 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
10 Mar 2008director interest notice● Neutral
Silver Dragon Resources Inc. President and CEO Marc Hazout sold 70,000 shares.
10 Mar 2008director interest notice● Neutral
Silver Dragon Resources Inc. President and CEO Marc Hazout sold 80,000 shares.
5 Mar 2008director interest notice● Neutral
Silver Dragon Resources Inc. President and CEO Marc Hazout bought 70,000 shares on the open market.
28 Nov 2007director interest notice● Neutral
Colin Sutherland became a Silver Dragon Resources Inc. Chief Financial Officer and company insider (initial ownership filing).
28 Nov 2007director interest notice● Neutral
Silver Dragon Resources Inc. Chief Financial Officer Colin Sutherland received 500,000 shares and a 500,000-share option grant as part of the equity award.
16 Nov 2007securities registration● Neutral
Silver Dragon Resources Inc. filed the final prospectus for a registered offering.
18 Oct 2007capital raising announcement● Neutral
The company issued a press release on October 17, 2007 titled 'Silver Dragon Resources Inc. Closes $1 Million Private Placement'. The 8-K itself only attaches the release and gives no terms, price or share numbers, so the details are not in this filing. It continues the pattern of funding through share sales.
23 Aug 2007securities registration● Neutral
Silver Dragon Resources Inc. filed the final prospectus for a registered offering.
16 Aug 2007securities registration● Neutral
Silver Dragon Resources Inc. amended a filing by which it registered a small-business securities offering with the SEC.
31 July 2007director interest notice● Neutral
Silver Dragon Resources Inc. President and CEO Marc Hazout disposed of 76,545 shares via option/appreciation-right settlement.
20 July 2007securities registration● Neutral
Silver Dragon Resources Inc. amended a filing by which it registered a small-business securities offering with the SEC.
17 July 2007financial restatement▼ BadMajor
Around June 1, 2007 the company decided its audited 2006 annual statements can no longer be relied on, because trade payables and exploration expense were understated. The restated statements were filed in a 10-KSB/A on July 9, 2007. This is a second restatement after the one covering the 2006 quarterly reports, and the filing gives no restated amounts.
8 June 2007director interest notice● Neutral
Silver Dragon Resources Inc. President and CEO Marc Hazout bought 50,000 shares on the open market.
16 May 2007late filing notice▼ Bad
Silver Dragon Resources Inc. notified the SEC that its quarterly report would be filed late.
2 Apr 2007late filing notice▼ Bad
Silver Dragon Resources Inc. notified the SEC that its annual report would be filed late.
21 Mar 2007securities registration● Neutral
Silver Dragon Resources Inc. amended a filing by which it registered a small-business securities offering with the SEC.
5 Mar 2007financial restatement▼ BadMajor
On January 26, 2007 the company decided its quarterly reports for March, June and September 2006 can no longer be relied on, and said it would restate them by March 20, 2007. It had wrongly capitalized all exploration costs (treated them as assets rather than expenses) and had used incorrect inputs to value its warrants. This undermines the 2006 figures shareholders saw, and was discussed with its auditor SF Partnership.
8 Feb 2007director interest notice● Neutral
Silver Dragon Resources Inc. President and CEO Marc Hazout disposed of 200,000 shares via option/appreciation-right settlement.
29 Jan 2007securities registration● Neutral
Silver Dragon Resources Inc. registered a small-business securities offering with the SEC.
14 Dec 2006asset acquisition disposition● Neutral
This amendment to the March 2006 filing repeats the Durango mining concession acquisitions unchanged. The new content is that the February 17, 2006 unit sale is described as 1,000,000 units at $1.00 for $1,000,000 (Class A warrants at $2.00, Class B at $5.00), with a promise to file a resale registration statement within 45 days and cash delay payments if it is late. It adds no new transactions.
5 Dec 2006material agreement termination● Neutral
The company gave notice on August 4, 2006 ending its September 2005 joint venture with Linear Gold over the Tierra Blanca Property in Durango, Mexico, after its geologists recommended it focus resources on its other Mexican and Chinese interests. It had never exercised the option and paid no penalty, though the $45,000 and 100,000 shares given at signing are not said to be recovered. This resolves the Linear Gold thread, and the filing was made in December 2006, about four months after the termination.
5 Dec 2006capital raising announcement● Neutral
Under a subscription agreement dated November 7, 2006 the company raised $500,000 by selling 500,000 units at $1.00, with Class A ($2.00) and Class B ($5.00) warrants over five years and Class C warrants for 1,000,000 shares at $1.00 over one year, which the company can force to be exercised if conditions are met. It paid its broker $35,000 and must file a resale registration statement by December 22, 2006, with penalties if it is late or not effective by March 12, 2007. Exercise of the warrants would add shares.
What it means for a shareholder
500,000 new shares at $1.00 to raise about $500,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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14 Nov 2006late filing notice▼ Bad
Silver Dragon Resources Inc. notified the SEC that its quarterly report would be filed late.
22 Sept 2006capital raising announcement● NeutralMajor
On September 15, 2006 the company raised another US$2,000,000 by selling 2,000,000 units at US$1.00, each with a share and warrants at $2.00 and $5.00 exercisable over two years. The proceeds are earmarked, as in June, for the Cerro Las Minitas and Sino Silver transactions and for fees and administrative costs. It continues the pattern of funding through new share issues.
What it means for a shareholder
2.0m new shares at US$1.00 to raise about US$2.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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22 Sept 2006director interest notice● Neutral
Silver Dragon Resources Inc. President and CEO Marc Hazout bought 55,000 shares on the open market.
19 Sept 2006director interest notice● Neutral
Silver Dragon Resources Inc. President and CEO Marc Hazout bought 45,000 shares on the open market.
21 Aug 2006director interest notice● Neutral
Silver Dragon Resources Inc. President and CEO Marc Hazout bought 50,000 shares on the open market.
14 Aug 2006late filing notice▼ Bad
Silver Dragon Resources Inc. notified the SEC that its quarterly report would be filed late.
10 Aug 2006director interest notice● Neutral
Silver Dragon Resources Inc. President and CEO Marc Hazout bought 50,000 shares on the open market at $1.00.