10 Feb 2014listing compliance notice▼ BadMajor
USCORP deregistered its securities, ending its obligation to file reports with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 Dec 2013late filing notice▼ Bad
USCORP notified the SEC that its annual report would be filed late.
14 Aug 2013quarterly activities report● Neutral
USCORP reported a quarterly net income of $657 thousand for the period ended 2013-06-30.
16 July 2013capital raising announcement▼ BadMajor
In the quarter ended June 30, 2013 USCorp sold 101,237,558 unregistered shares at $0.005 per share to 32 existing shareholders it describes as sophisticated investors. That is 22.9% of the shares outstanding as last reported, and the total is now 456,066,363 shares. At that price the sale would raise roughly $506,000 (inference from the figures given; the filing does not state proceeds). Existing holders who did not buy are diluted.
8 May 2013quarterly activities report● Neutral
USCORP reported a quarterly net income of $657 thousand for the period ended 2013-06-30.
19 Feb 2013quarterly activities report● Neutral
USCORP reported a quarterly net income of $207 thousand for the period ended 2013-03-31.
14 Feb 2013late filing notice▼ Bad
USCORP notified the SEC that its quarterly report would be filed late.
31 Dec 2012late filing notice▼ Bad
USCORP notified the SEC that its annual report would be filed late.
26 Nov 2012auditor change● Neutral
Auditor Donahue Associates LLC resigned effective October 3, 2012, and Silberstein Ungar, PLLC was engaged effective November 1, 2012 to audit the year ending September 30, 2012. Donahue's reports for fiscal 2010 and 2011 carried a going-concern warning, and the filing says there were no disagreements. This continues the going-concern doubt that has run through the company's audit history.
1 Oct 2012asset acquisition disposition● NeutralMajor
USCorp reversed the 2011 Twin Peaks deal. Under an agreement dated June 28, 2012 (amended June 30), with the closing due by September 10, 2012, all the Twin Peaks claims went back to USMetals by transfer of the stock of AGC Corp. USCorp stock was delivered to former AGC shareholders, and certain USCorp shares were returned to Kaswit and AGF or Hay. The filing gives no share counts or reasons, so the cost of the unwind in shares is not shown. This resolves the AGC arrangement and returns direct control of the 172 claims to the USCorp group.
20 Aug 2012quarterly activities report▼ Bad
USCORP reported quarterly revenue of $10 and a net loss of $770 thousand for the period ended 2012-06-30.
15 Aug 2012late filing notice▼ Bad
USCORP notified the SEC that its quarterly report would be filed late.
15 May 2012quarterly activities report▼ Bad
USCORP reported quarterly revenue of $10 and a net loss of $770 thousand for the period ended 2012-06-30.
21 Feb 2012quarterly activities report▼ Bad
USCORP reported quarterly revenue of $255 and a net loss of $3.4 million for the period ended 2011-12-31.
14 Feb 2012late filing notice▼ Bad
USCORP notified the SEC that its quarterly report would be filed late.
30 Dec 2011late filing notice▼ Bad
USCORP notified the SEC that its annual report would be filed late.
22 Aug 2011quarterly activities report▼ Bad
USCORP reported a quarterly net loss of $479 thousand for the period ended 2011-06-30.
16 Aug 2011late filing notice▼ Bad
USCORP notified the SEC that its quarterly report would be filed late.
9 June 2011asset acquisition disposition● NeutralMajor
Under a March 22, 2011 agreement (made effective around May 25, 2011 after a legal fix for a BLM bar on a British Columbia company holding claims), USCorp's subsidiary USMetals sold its 172 Arizona Twin Peaks mining claims into an Arizona subsidiary of Arizona Gold Corp. (AGC). In return USMetals received 104,200,000 AGC shares. After later share sales ($200,000 and $1,800,000 raised) it owns 66.82% of AGC, and USCorp keeps a right to unwind the deal if funding steps fail. USCorp thus holds Twin Peaks indirectly through a partly owned company whose board includes Robert Dultz, rather than directly. Intended uses of the money are a drilling program and reports aimed at a Canadian exchange listing within six months.
20 May 2011quarterly activities report▼ Bad
USCORP reported a quarterly net loss of $479 thousand for the period ended 2011-06-30.
17 May 2011late filing notice▼ Bad
USCORP notified the SEC that its quarterly report would be filed late.
27 Apr 2011material agreement▲ GoodMajor
In April 2011 USCorp agreed new terms with its debenture holders and gold bullion lender. It pays $100,000 plus 800,000 shares (a $50,000 reduction) now on the debentures, with further principal payments of $25,000 by Sept 30, 2011, $25,000 by Dec 31, 2011 and $500,000 by March 31, 2012, and the debenture maturity is extended to March 31, 2012. The gold loan, originally due September 2007 and unresolved until now, is also extended to March 31, 2012 in return for $8,500 of interest and 1,600,000 shares (valued at $100,000). The press release says the company is no longer in default on these loans; the new shares dilute existing holders.
22 Apr 2011quarterly activities report▼ Bad
USCORP reported a quarterly net loss of $484 thousand for the period ended 2011-03-31.
18 Feb 2011quarterly activities report▼ Bad
USCORP reported a quarterly net loss of $484 thousand for the period ended 2011-03-31.
14 Feb 2011late filing notice▼ Bad
USCORP notified the SEC that its quarterly report would be filed late.
27 Dec 2010late filing notice▼ Bad
USCORP notified the SEC that its annual report would be filed late.
13 Aug 2010quarterly activities report▼ Bad
USCORP reported a quarterly net loss of $303 thousand for the period ended 2010-06-30.
12 May 2010quarterly activities report▼ Bad
USCORP reported a quarterly net loss of $303 thousand for the period ended 2010-06-30.
28 Dec 2009late filing notice▼ Bad
USCORP notified the SEC that its annual report would be filed late.
14 Aug 2009late filing notice▼ Bad
USCORP notified the SEC that its quarterly report would be filed late.