Past year: ▼ 50%(0.01c – 0.02c USD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
30 Sept 2008capital raising announcement● NeutralMajor
On September 28, 2008 USCorp sold a $1,200,000 non-recourse convertible note to a private European fund. It pays 4% a year, is due March 31, 2011, and converts into Class A common stock at $0.125 per share. The fund also received one-year warrants for 4,800,000 shares at $0.20, which would bring in another $960,000 if exercised, for $2.16 million in total. The press release says the money arrives in tranches ($200,000 already received, with the rest due through January 2009) and describes USCorp as a gold exploration company with the Twin Peaks (Arizona) and Picacho Salton (California) projects. This adds a second debt instrument alongside the 2005 gold note, with possible dilution if the note is converted or the warrants exercised.
1 June 2006capital raising announcement● NeutralMajor
On May 30, 2006 USCorp signed an agreement with Dutchess Private Equities Fund, L.P. under which Dutchess commits to buy up to $10,000,000 of USCorp common stock over 36 months, in draws ('puts') the company requests. Shares are priced at 95% of the lowest closing bid during a five-day pricing period after each draw, so shareholders face dilution that depends on the share price at each draw. USCorp must file a registration statement within 30 days of closing. This is the company's first equity funding line in the story, following the 2005 gold-denominated note.
