8 Nov 2012director interest notice● Neutral
Paul Parliament became a Silver Falcon Mining, Inc. director and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
26 Sept 2012agm notice● Neutral
Silver Falcon Mining, Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
17 Sept 2012securities registration● Neutral
Silver Falcon Mining, Inc. amended a filing by which it registered a securities offering with the SEC.
21 Aug 2012director interest notice● Neutral
Silver Falcon Mining, Inc. CFO Thomas Charles Ridenour sold 175,000 shares.
15 Aug 2012securities registration● Neutral
Silver Falcon Mining, Inc. registered a securities offering with the SEC.
14 Aug 2012quarterly activities report▼ Bad
Silver Falcon Mining, Inc. reported quarterly revenue of $16 thousand and a net loss of $2.4 million for the period ended 2012-06-30.
18 July 2012debt financing▼ BadMajor
On July 12, 2012 the company issued JMJ Financial a second secured convertible note, $525,000 principal with a one-time 5% interest charge, due January 12, 2014, for $500,000 gross proceeds after a $25,000 discount. It converts at 80% of the average of the three lowest trading prices in the prior 15 trading days, and JMJ also got a warrant for 16,666,667 shares at $0.03 to July 12, 2016. The company must file a resale registration for 120,000,000 shares by August 15, 2012 (penalty $50,000 if late, $75,000 if not approved within 120 days), covering this deal and the June 2012 JMJ note and warrant. This stacks more discount-priced convertible debt on the June 2012 JMJ note, so the filing supports further dilution for shareholders; the registration bar on other filings (except Iliad's warrant shares and S-8s) could also affect the Centurion equity line, which needs its own effective registration (an inference).
18 July 2012drilling progress report▲ GoodMajor
The company says its Sinker Tunnel drilling program is underway, a planned 14-month program, with financing received and more contributions pledged but terms not given (promised in later SEC filings). Surface drilling on War Eagle Mountain may not happen before spring 2013, and results are meant to feed its NI 43-101 report and a possible Toronto Stock Exchange listing application. It also describes a mill expansion and flotation line for the 30,000-plus tons of tailings; this follows through on the exploration plan flagged in June 2011 and likely connects to the 2012 note financings (an inference, since the filing does not name the source).
20 June 2012director interest notice● Neutral
Quilliam Christian became a Silver Falcon Mining, Inc. C.O.O. and company insider (initial ownership filing).
8 June 2012debt financing▼ BadMajor
The company issued JMJ Financial a secured convertible note with $315,000 principal (gross proceeds $300,000 after a $15,000 discount), a one-time 5% interest charge and payment due December 4, 2013, convertible at 80% of the average of the three lowest trading prices in the prior 15 days. JMJ also received a warrant for 10,000,000 shares at $0.03 through June 4, 2016, plus rights to lend up to $1,000,000 more and to match future financings, and Iliad got a warrant for 16,666,667 shares at $0.3 (as written) through June 4, 2016. This adds more convertible debt and warrants after the March 2012 Iliad note, increasing potential dilution for shareholders.
16 May 2012director interest notice● Neutral
Pascale Tutt became a Silver Falcon Mining, Inc. VP CORPORATE DEVELOPMENT and company insider (initial ownership filing).
15 May 2012quarterly activities report▼ Bad
Silver Falcon Mining, Inc. reported quarterly revenue of $59 thousand and a net loss of $3.9 million for the period ended 2012-03-31.
2 May 2012director interest notice● Neutral
Silver Falcon Mining, Inc. CFO Thomas Charles Ridenour received a stock option grant for 13,000,000 shares.
10 Apr 2012debt financing▼ BadMajor
The company issued Iliad Research and Trading an 8% convertible note with $566,500 principal, receiving $500,000 after a $51,500 discount and $15,000 of Iliad's costs. It is repaid in twelve monthly installments of $47,208.33 from October 1, 2012, at least six of which must be paid in shares at a discount to market (80%, falling to 70% if the stock closes below $0.0199), with a 25% penalty for prepayment or for paying cash where shares are required. Shareholders face dilution from share-settled payments, and Iliad also gets a right of first refusal on future financings; this is additional debt on top of the Centurion equity line, which is carved out of the anti-dilution terms.
30 Mar 2012late filing notice▼ Bad
Silver Falcon Mining, Inc. notified the SEC that its annual report would be filed late.
7 Dec 2011securities registration● Neutral
Silver Falcon Mining, Inc. registered a securities offering with the SEC.
2 Dec 2011director interest notice● Neutral
Silver Falcon Mining, Inc. director Lewis J Georges sold 295,000 shares at $0.06.
14 Nov 2011quarterly activities report▼ Bad
Silver Falcon Mining, Inc. reported a quarterly net loss of $2.2 million for the period ended 2011-09-30.
19 Oct 2011capital raising announcement▲ Good
The company says it signed a supplemental refining agreement with Republic Metals Corporation to analyse, refine and buy its bullion dore, with a first shipment planned for October 2011 that it says will start a revenue stream. The CEO says milling proceeds should make the company less dependent on private placements; no amounts are given, and this is an expectation, not a result. This follows the mill and assay lab build-out and is the first stated sales route for the mill's output.
1 Sept 2011listing compliance notice▼ Bad
Silver Falcon Mining, Inc. withdrew a registration statement, abandoning the offering it covered.
24 Aug 2011quarterly activities report▼ Bad
Silver Falcon Mining, Inc. reported a quarterly net loss of $2.8 million for the period ended 2011-06-30.
15 Aug 2011quarterly activities report▼ Bad
Silver Falcon Mining, Inc. reported a quarterly net loss of $2.8 million for the period ended 2011-06-30.
20 July 2011director interest notice● Neutral
Thomas Charles Ridenour became a Silver Falcon Mining, Inc. CFO and company insider (initial ownership filing).
20 July 2011director interest notice● Neutral
Silver Falcon Mining, Inc. director David J Bommarito received a stock option grant for 1,000,000 shares.
20 July 2011director interest notice● Neutral
Silver Falcon Mining, Inc. director Lewis J Georges received a stock option grant for 1,000,000 shares.
19 July 2011director interest notice● Neutral
Roger Scammell became a Silver Falcon Mining, Inc. President and company insider (initial ownership filing).
3 June 2011securities registration● Neutral
Silver Falcon Mining, Inc. registered a securities offering with the SEC.
2 June 2011production update● Neutral
A press release from the company's president, Roger Scammell, says the focus over the prior seven months shifted from exploration of War Eagle Mountain (leased from GoldLand Holdings) to processing tailings, and that a two-year exploration program focused on the Sinker Tunnel and the mountain surface begins in July 2011, with the Sinker rehabilitation said to be well underway. He says the company is well financed and the board approved budgets; these are management claims and no figures are given. It shows a shift in emphasis back toward exploration, and the filing does not state how the work will be paid for.
16 May 2011quarterly activities report▼ Bad
Silver Falcon Mining, Inc. reported a quarterly net loss of $3.4 million for the period ended 2011-03-31.
11 Apr 2011capital raising announcement● NeutralMajor
The company signed an equity line with Centurion Private Equity under which Centurion committed to buy up to $7,200,000 of its common stock, in puts of up to $300,000 each, at the lesser of 97% of market price or market price minus $0.01. Drawing requires an effective resale registration statement, and the company issued Centurion 136,147 shares (valued $20,000) as a document fee and 1,190,083 shares (valued $144,000) as a commitment fee. For shareholders this is a funding source that is dilutive because shares are sold at a discount to market.