23 Nov 2015quarterly activities report▼ Bad
U.S. RARE EARTHS, INC reported a quarterly net loss of $1.0 million for the period ended 2015-09-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Nov 2015late filing notice▼ Bad
U.S. RARE EARTHS, INC notified the SEC that its quarterly report would be filed late.
14 Aug 2015quarterly activities report▼ Bad
U.S. RARE EARTHS, INC reported a quarterly net loss of $1.6 million for the period ended 2015-06-30.
15 July 2015listing compliance notice▼ Bad
U.S. RARE EARTHS, INC withdrew a registration statement, abandoning the offering it covered.
1 June 2015capital raising announcement▼ Bad
On May 26, 2015 the company issued a convertible note with a $285,000 face value to an accredited investor for $200,000, maturing in six months with no interest unless in default. After a default, it converts at a 20% discount to the average of the three lowest closing bids in the prior 20 trading days (up to 15% more discount in certain defaults). Defaults include late SEC filings or loss of OTCQB quotation, and then the note carries 22% interest. The terms are unusually costly relative to the cash received ($85,000 above the purchase price); that comparison is an inference from the stated figures.
14 May 2015quarterly activities report● Neutral
U.S. RARE EARTHS, INC reported quarterly revenue of $0 for the period ended 2015-03-31.
19 Mar 2015listing compliance notice▲ GoodMajor
Nasdaq certified U.S. RARE EARTHS, INC's securities for listing, clearing them to begin trading.
6 Mar 2015securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
3 Mar 2015securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
2 Mar 2015director interest notice● Neutral
U.S. RARE EARTHS, INC director John Victor Lattimore Jr. bought 36,667 shares on the open market at $3.00.
2 Mar 2015director interest notice● Neutral
F. Scott Chrimes became a U.S. RARE EARTHS, INC Chief Financial Officer and company insider (initial ownership filing).
30 Jan 2015securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
27 Jan 2015securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
26 Jan 2015securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
15 Jan 2015securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
8 Jan 2015securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
17 Dec 2014securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
21 Nov 2014agm notice● Neutral
U.S. RARE EARTHS, 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).
4 Nov 2014quarterly activities report▼ Bad
U.S. RARE EARTHS, INC reported quarterly revenue of $0 and a net loss of $1.7 million for the period ended 2014-09-30.
15 Oct 2014agm notice● Neutral
U.S. RARE EARTHS, 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).
3 Oct 2014capital raising announcement▲ Good
The company reported selling 120,000 shares at $2.50 each, plus warrants for 139,200 shares at $1.50 expiring December 31, 2015, to two accredited investors in August and September 2014, for $300,000. A press release says it has raised $3.1 million in total since December 2013.
What it means for a shareholder
120,000 new shares at $2.50 to raise about $300,000. That's 0.379% dilution: every existing holder's slice gets 0.379% smaller. If you held $1,000 of shares (400 at the issue price), your slice goes from 0.00127% to 0.00126% of the company. To keep it you'd need 2 more shares - about $5 at the issue price.
Create a free account to see this worked out for your own holding.
12 Aug 2014quarterly activities report▼ Bad
U.S. RARE EARTHS, INC reported a quarterly net loss of $1.6 million for the period ended 2014-06-30.
18 July 2014securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
3 July 2014securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
15 May 2014quarterly activities report● Neutral
U.S. RARE EARTHS, INC reported quarterly revenue of $0 for the period ended 2014-03-31.
14 May 2014securities registration● Neutral
U.S. RARE EARTHS, INC registered a securities offering with the SEC.
31 Mar 2014late filing notice▼ Bad
U.S. RARE EARTHS, INC notified the SEC that its annual report would be filed late.
20 Mar 2014financial restatement▼ BadMajor
On March 17, 2014 the audit committee concluded that the unaudited financial statements for the quarters ended June 30 and September 30, 2013 can't be relied on, due to non-cash errors. The main errors were an unrecorded option granted to Lattimore Properties as part of the June 2013 settlement of the Williams/Cowle litigation (expensed at $5.1 million) and 3,000,000 shares issued to Logic International Consulting for settlement services, revalued at $1.94 (an extra $2.8 million). The June 2013 quarter's net loss rose from $5.5 million to $13.4 million. The September quarter's net loss was restated from $361,796 to $318,463. This resolves how the 2012 board litigation ended (settlement approved June 5, 2013) and opens a new restatement thread. Note the cover page lists Delaware as the state of incorporation, versus Nevada elsewhere; the filing does not explain this.
5 Feb 2014director interest notice● Neutral
U.S. RARE EARTHS, INC director Carol C. Kondos received 150,000 shares as part of the equity award.
5 Feb 2014director interest notice● Neutral
U.S. RARE EARTHS, INC director John Victor Lattimore Jr. received 500,000 shares as part of the equity award.