15 Apr 2013late filing notice▼ Bad
U S PRECIOUS METALS INC notified the SEC that its quarterly report would be filed late.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
26 Mar 2013material agreement termination● Neutral
This amendment replaces the March 20 filing in full and adds detail: the mutual release covers all fees, expenses and warrants under the John Thomas agreement, and the $50,000 retainer was the only payment made to John Thomas. Otherwise it repeats the termination, the $20,000 refund, the unclosed bridge loan and the Source Capital engagement (3% fee plus 250,000 shares).
20 Mar 2013material agreement termination▼ Bad
The company ended the November 2012 banking agreement with John Thomas Financial (effective March 12, 2013), with mutual releases, and John Thomas will refund $20,000 of the $50,000 retainer. A bridge loan term sheet with John Thomas had not closed. The company also hired Source Capital Group as exclusive placement agent, for 3% of financing proceeds plus 250,000 shares.
22 Jan 2013quarterly activities report▼ Bad
U S PRECIOUS METALS INC reported a quarterly net loss of $4.0 million for the period ended 2012-11-30.
14 Jan 2013late filing notice▼ Bad
U S PRECIOUS METALS INC notified the SEC that its quarterly report would be filed late.
3 Dec 2012material agreement● Neutral
On November 29, 2012 the company signed a one-year exclusive investment banking agreement with an unnamed New York broker/dealer, paying a $50,000 non-refundable retainer and issuing a five-year warrant for 9.99% of fully diluted shares at $0.40. Future fees would run from 13% to 6% of consideration received, plus warrants for 10% of any equity issued. The filing says there is no certainty any funding will result. This replaces the unnamed bank advisory arrangement of Dec 2011 in the financing search (inference: the filing does not link them).
22 Oct 2012quarterly activities report▼ Bad
U S PRECIOUS METALS INC reported a quarterly net loss of $749 thousand for the period ended 2012-08-31.
15 Oct 2012late filing notice▼ Bad
U S PRECIOUS METALS INC notified the SEC that its quarterly report would be filed late.
3 Oct 2012material agreement▼ Bad
A second amendment to the Duane Morris settlement pushed the $403,554 first installment again, from July 24 to December 1, 2012; 5% interest on the $1,614,216 continues to accrue. Separately, on September 21, 2012 the company named George Mesa Sr. Director of Security for its Mexican mining claims and granted him 1,000,000 options at $0.12 per share, with no formal pay arrangement yet.
29 Aug 2012late filing notice▼ Bad
U S PRECIOUS METALS INC notified the SEC that its annual report would be filed late.
29 May 2012material agreement▼ Bad
The company and Duane Morris (and Keli Isaacson Whitlock) amended the legal-fee settlement from May 2011: the first installment of $403,554, due May 24, 2012, was pushed to July 24, 2012. From May 23, 2012, 5% annual interest accrues on the $1,614,216 owed. This continues the existing Duane Morris debt thread and adds interest cost; all other terms are unchanged.
23 Apr 2012quarterly activities report▼ Bad
U S PRECIOUS METALS INC reported a quarterly net loss of $368 thousand for the period ended 2012-02-29.
16 Apr 2012late filing notice▼ Bad
U S PRECIOUS METALS INC notified the SEC that its quarterly report would be filed late.
20 Jan 2012quarterly activities report▼ Bad
U S PRECIOUS METALS INC reported a quarterly net loss of $797 thousand for the period ended 2011-11-30.
17 Jan 2012quarterly activities report▼ Bad
U S PRECIOUS METALS INC reported a quarterly net loss of $797 thousand for the period ended 2011-11-30.
12 Jan 2012late filing notice▼ Bad
U S PRECIOUS METALS INC notified the SEC that its quarterly report would be filed late.
19 Dec 2011securities registration● Neutral
U S PRECIOUS METALS INC filed notice of an exempt private placement.
13 Dec 2011material agreement● Neutral
On November 29, 2011 the company signed a six-month agreement with an unnamed US-based investment bank (a registered broker/dealer) to provide initial advisory and other investment banking services as needed. A shareholder-update press release dated December 13, 2011 is referenced as an exhibit, but its content is not included here. The filing does not mention the SAK deal.
20 Oct 2011quarterly activities report▼ Bad
U S PRECIOUS METALS INC reported a quarterly net loss of $652 thousand for the period ended 2011-08-31.
17 Oct 2011late filing notice▼ Bad
U S PRECIOUS METALS INC notified the SEC that its quarterly report would be filed late.
11 Oct 2011director interest notice● Neutral
John Gildea became a U S PRECIOUS METALS INC director and company insider (initial ownership filing).
5 Oct 2011director interest notice● Neutral
U S PRECIOUS METALS INC CEO Jerry Pane bought 750,000 shares on the open market.
29 Sept 2011director interest notice● Neutral
U S PRECIOUS METALS INC director Sheldon Baer received 250,000 shares and a 1,000,000-share option grant as part of the equity award.
29 Sept 2011director interest notice● Neutral
U S PRECIOUS METALS INC director Jerry Pane received 250,000 shares and a 1,000,000-share option grant as part of the equity award.
28 Sept 2011substantial holder notice● Neutral
Diane Spano disclosed a new substantial U S PRECIOUS METALS INC shareholding (9.26% of votes).
28 Sept 2011substantial holder notice● Neutral
Peter Toscano disclosed a new substantial U S PRECIOUS METALS INC shareholding (8.11% of votes).
9 Sept 2011director interest notice● Neutral
U S PRECIOUS METALS INC COB, CFO, SEC, TREAS Jack Wagenti received 250,000 shares and a 1,000,000-share option grant as part of the equity award.
9 Sept 2011director interest notice● Neutral
U S PRECIOUS METALS INC director Sheldon Baer received 250,000 shares and a 1,000,000-share option grant as part of the equity award.
9 Sept 2011director interest notice● Neutral
U S PRECIOUS METALS INC director Daniel H Luciano received 250,000 shares as part of the equity award.
9 Sept 2011director interest notice● Neutral
U S PRECIOUS METALS INC director Sheldon Baer received 250,000 shares as part of the equity award.