15 Dec 2017director interest notice● Neutral
John M. Fife became a Silver Dragon Resources Inc. 10%+ owner and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Aug 2016late filing notice▼ Bad
Silver Dragon Resources Inc. notified the SEC that its quarterly report would be filed late.
5 Aug 2016capital raising announcement▼ Bad
On August 2, 2016 Tonaquint bought another additional secured note under the April 2016 settlement, with $170,000 principal for $150,000 (a $15,000 discount plus $5,000 toward the lender's costs). Terms mirror the May note: 12%, matures February 28, 2017, convertible from January 2, 2017 at $0.015 (lower if market cap falls below $4,000,000), $55,000 monthly installments from December 31, 2016, secured on all assets and the Sino-Top equity. The filing does not state the amount received this time, only the purchase. This is a further round of the same financing, adding more possible dilution.
6 July 2016financial restatement▼ BadMajor
On June 28, 2016 the board concluded that the 2015 and 2014 annual financial statements, the audit report, and the 2015 and 2014 quarterly statements should no longer be relied on, because of new information about adjustments to the restated December 31, 2015 figures for the company's equity investment in China. The filing says the full changes cannot yet be quantified, and the company is engaging local counsel in China to investigate. Separately, from July 1, 2016 the stock moved from the OTCQB to the OTC Pink. This is a second non-reliance event after November 2012 and leaves the corrected financials an open item.
1 June 2016capital raising announcement▼ Bad
Under the April 2016 Tonaquint settlement, the company issued an additional secured note on May 25, 2016 with $170,000 principal for $150,000 (a $15,000 discount plus $5,000 toward the lender's costs), and received the $150,000 on May 26. The note pays 12%, matures February 28, 2017, is convertible from November 26, 2016 at $0.015 (lower if market cap falls below $4,000,000), has $55,000 monthly installments from December 31, 2016 payable in cash or shares, and is secured on all assets and the Sino-Top equity. This continues the Tonaquint financing and adds more potential share issuance.
17 May 2016late filing notice▼ Bad
Silver Dragon Resources Inc. notified the SEC that its quarterly report would be filed late.
20 Apr 2016securities registration● Neutral
Silver Dragon Resources Inc. filed notice of an exempt private placement.
12 Apr 2016capital raising announcement▼ BadMajor
On April 7-8, 2016 the company and Tonaquint agreed a settlement: a new secured convertible note of $6,836,556.53 replaced the previous note, which had a $9,093,950 balance, with $2,677,393.47 forgiven and $400,000 in cash paid to the company. The new note carries 12% interest, matures March 31, 2019, is secured on all company assets and on its Sino-Top equity, and is convertible at $0.015 per share from December 31, 2016, with a lower price if market capitalization falls below $4,000,000. The company must reserve 150,000,000 shares for conversions, Tonaquint gets a board observer and a right to take part in 50% of future financings, and the company signed a confession of judgment. This replaces the December 2012 payoff arrangement with Tonaquint, ends Tonaquint's court action in Utah, and raises dilution risk for shareholders.
30 Mar 2016late filing notice▼ Bad
Silver Dragon Resources Inc. notified the SEC that its annual report would be filed late.
4 Feb 2016material agreement termination● NeutralMajor
The company rejected Beijing Shengda Industrial Group's offer of RMB161,922,820 (about US$25 million), paid in installments through 2019, for its 20% interest in Guangda, a subsidiary of Sino-Top, and treated the January 2016 equity transfer agreement as terminated. It countered on February 4, 2016 at RMB265,000,000 (about US$40 million) for its 20% interest in Sino-Top, covering all six properties, half at closing and half on regulatory approval by December 31, 2016. Any sale would need shareholder and Chinese regulatory approval, and the filing says there is no assurance the counter offer will be accepted. This continues the October 2014 Shengda acquisition thread.
13 Nov 2015quarterly activities report▼ Bad
Silver Dragon Resources Inc. reported a quarterly net loss of $944 thousand for the period ended 2015-09-30.
12 Nov 2015quarterly activities report▼ Bad
Silver Dragon Resources Inc. reported a quarterly net loss of $944 thousand for the period ended 2015-09-30.
13 Aug 2015quarterly activities report▼ Bad
Silver Dragon Resources Inc. reported a quarterly net loss of $1.1 million for the period ended 2015-06-30.
31 July 2015substantial holder notice● Neutral
VIS VIRES GROUP, INC. EIN disclosed a new substantial Silver Dragon Resources Inc. shareholding (9.99% of votes).
14 May 2015quarterly activities report▼ Bad
Silver Dragon Resources Inc. reported a quarterly net loss of $644 thousand for the period ended 2015-03-31.
28 Nov 2014material agreement▼ Bad
Travellers International, controlled by CEO Marc Hazout, made four more advances between September 2 and November 27, 2014. The total owed was CDN$210,000 (about US$183,775), up from CDN$145,000 in August. Terms are unchanged.
14 Nov 2014quarterly activities report▼ Bad
Silver Dragon Resources Inc. reported a quarterly net loss of $525 thousand for the period ended 2014-09-30.
8 Oct 2014material agreement▲ GoodMajor
On October 7, 2014 the company announced that its Chinese joint venture Sanhe Sino-Top has signed an agreement with Shengda Mining Co., Ltd. to be acquired, subject to a third-party evaluation and all regulatory approvals and filings. No price or terms are given in the filing. This is the first sign of a possible sale of the Chinese assets that have been the company's focus.
13 Aug 2014quarterly activities report▼ Bad
Silver Dragon Resources Inc. reported a quarterly net loss of $1.1 million for the period ended 2014-06-30.
1 Aug 2014material agreement● Neutral
Travellers International, controlled by CEO Marc Hazout, made five advances between March 24 and August 1, 2014. The net amount owed was CDN$145,000 (about US$132,796) as of August 1, 2014. This is lower than the CDN$302,000 reported in April 2013, but the filing does not say why, and it does not report repayments.
20 May 2014quarterly activities report▼ Bad
Silver Dragon Resources Inc. reported a quarterly net loss of $551 thousand for the period ended 2014-03-31.
15 May 2014late filing notice▼ Bad
Silver Dragon Resources Inc. notified the SEC that its quarterly report would be filed late.
29 Nov 2013material agreement▼ BadMajor
The lender payoff deadline was extended again: to March 31, 2014 for GEL, JMJ and Asher (agreed November 8, 2013), and to December 31, 2013 for Tonaquint (November 13). On November 27, 2013 Tonaquint agreed that $2,500,000 paid by March 31, 2014 would settle everything owed to it, which is higher than its December 2012 payoff figure of $2,130,048.92.
15 Nov 2013late filing notice▼ Bad
Silver Dragon Resources Inc. notified the SEC that its quarterly report would be filed late.
14 Aug 2013quarterly activities report▼ Bad
Silver Dragon Resources Inc. reported a quarterly net loss of $984 thousand for the period ended 2013-06-30.
8 Aug 2013material agreement● Neutral
Tonaquint advanced the second $60,000 payment on August 2, 2013 even though the company had not yet met all the conditions. On August 8, 2013 Tonaquint, JMJ and GEL extended the payoff deadline to September 30, 2013, and in return the company agreed to add $30,000 to Tonaquint's balance, $10,000 to JMJ's and $10 to GEL's.
17 July 2013material agreement● Neutral
On July 10, 2013 Asher agreed to move the deadline for the $93,500 payoff from June 30 to September 30, 2013. All other terms stay the same. This is Asher's second extension of the original March 31 deadline.
7 June 2013material agreement● Neutral
On June 3, 2013 the company and Tonaquint amended the 2011 financing so Tonaquint would pay early $120,000 in total on the tenth investor note (principal $200,000). The first $60,000 was paid at signing and the second $60,000 depends on conditions including a trailing 10-day average share price above $0.10 and filing compliance. Tonaquint's payoff figure rose by $2,500 for its legal fees.
20 May 2013quarterly activities report▼ Bad
Silver Dragon Resources Inc. reported a quarterly net loss of $404 thousand for the period ended 2013-03-31.
16 May 2013late filing notice▼ Bad
Silver Dragon Resources Inc. notified the SEC that its quarterly report would be filed late.