17 Jan 2014director interest notice● Neutral
Loni D Knepper became a WESTMOUNTAIN GOLD, INC. CFO and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 Jan 2014debt financing● Neutral
The company received the $1,000,000 bridge loan funds on December 31, 2013, repayable in cash by December 16, 2014. This filing's exhibit names BOCO Investments as the counterparty, whereas the December 23 filing named Guiseppe Dessi, so the lender's identity is inconsistent between the two filings; the later ones identify it as BOCO.
23 Dec 2013debt financing● Neutral
On December 17, 2013 the company signed a $1,000,000 promissory note with an accredited investor, repayable in cash by December 16, 2014. The exhibit is titled a convertible note and names Guiseppe Dessi as the counterparty, but the filing text does not give conversion or interest terms. Funding was not yet reported as received.
5 Dec 2013securities registration● Neutral
WESTMOUNTAIN GOLD, INC. filed notice of an exempt private placement.
26 Nov 2013securities registration● Neutral
WESTMOUNTAIN GOLD, INC. filed notice of an exempt private placement.
26 Nov 2013capital raising announcement● NeutralMajor
The company signed a deal with Lincoln Park Capital under which Lincoln Park bought 113,636 shares for $100,000 and is obliged to buy up to $10 million more of stock at the company's choice over 24 months, once a registration statement the company must file is declared effective. The company also issued 242,529 shares to Lincoln Park and must issue up to 404,216 more as it sells. Sales are capped so Lincoln Park holds no more than 9.99%, and proceeds are meant for general expenses and working capital. This opens a new equity funding source, with dilution as shares are sold. The press release's company description (right to earn 51% of Terra from Corvus) does not mention the February 2013 letter of intent for full ownership, so that deal's status is not stated here.
25 Nov 2013securities registration● Neutral
WESTMOUNTAIN GOLD, INC. filed notice of an exempt private placement.
4 Oct 2013securities registration● Neutral
WESTMOUNTAIN GOLD, INC. filed notice of an exempt private placement.
19 Sept 2013quarterly activities report▼ Bad
WESTMOUNTAIN GOLD, INC. reported a quarterly net loss of $4.3 million for the period ended 2013-07-31.
13 Sept 2013late filing notice▼ Bad
WESTMOUNTAIN GOLD, INC. notified the SEC that its quarterly report would be filed late.
30 Aug 2013debt financing● Neutral
BOCO agreed, effective August 1, 2013, to push the due date of its September 2012 secured convertible note (stated as $1,852,115) from July 31, 2013 to October 31, 2013. The filing gives no other changed terms. This delays the earlier deadline; the principal figure differs slightly from the $1,853,965 in the earlier context.
6 Aug 2013director interest notice● Neutral
WESTMOUNTAIN GOLD, INC. 10%+ owner Boco Investments LLC bought 67,500 shares on the open market.
1 July 2013debt financing▼ BadMajor
BOCO lent a further $500,000 on June 27, 2013, on a 15% secured note due December 31, 2013, with operating restrictions. It received another warrant for 1,250,000 shares at the lesser of $0.75 or 80% of the lowest later financing price, expiring June 26, 2018. This is the second such BOCO loan in about six weeks, adding to debt and potential dilution.
27 June 2013director interest notice● Neutral
WESTMOUNTAIN GOLD, INC. 10%+ owner Boco Investments LLC bought 1,250,000 shares on the open market at $0.00.
27 June 2013director interest notice● Neutral
WESTMOUNTAIN GOLD, INC. 10%+ owner Boco Investments LLC bought 1,250,000 shares on the open market at $0.00.
14 June 2013quarterly activities report▼ Bad
WESTMOUNTAIN GOLD, INC. reported quarterly revenue of $0 and a net loss of $1.0 million for the period ended 2013-04-30.
11 June 2013securities registration● Neutral
WESTMOUNTAIN GOLD, INC. filed notice of an exempt private placement.
6 June 2013debt financing● Neutral
This amendment was filed only to add Exhibit 10.2 (the promissory note), which was left out of the May 24, 2013 filing for the $500,000 BOCO loan. The text otherwise repeats the earlier report, with no new terms.
30 May 2013substantial holder notice● Neutral
BOCO Investments, LLC, WestMountain Prime, LLC, Pat Stryker Living Trust, dated October, Pat Stryker reported a WESTMOUNTAIN GOLD, INC. shareholding of 8,767,115 shares (22.68% of votes) in a periodic institutional filing.
30 May 2013director interest notice● Neutral
WESTMOUNTAIN GOLD, INC. 10%+ owner Boco Investments LLC bought 1,250,000 shares on the open market at $0.00.
24 May 2013debt financing▼ BadMajor
BOCO, the existing lender and shareholder, lent the company another $500,000 (received May 14, 2013) under a 15% note due October 31, 2013, secured on the company's assets, with operating restrictions. BOCO also received a warrant for 1,250,000 shares at the lesser of $0.75 or 80% of the lowest later financing price, expiring May 17, 2018. This continues the pattern of BOCO funding the company.
20 Mar 2013debt financing▼ Bad
On March 20, 2013 the company took a $600,000 bridge loan from three accredited investors, due September 15, 2013. It can be repaid in cash or by handing over 600 ounces of gold, provided gold is at least $1,500 per ounce at repayment; if not, more ounces may be due. This is new borrowing outside the BOCO notes.
14 Mar 2013director interest notice● Neutral
Dale Rasmussen became a WESTMOUNTAIN GOLD, INC. director and company insider (initial ownership filing).
13 Mar 2013substantial holder notice● Neutral
Capital Peak Partners LLC reported a WESTMOUNTAIN GOLD, INC. shareholding of 2,111,000 shares (5.60% of votes) in a periodic institutional filing.
5 Mar 2013quarterly activities report▼ Bad
WESTMOUNTAIN GOLD, INC. reported quarterly revenue of $0 and a net loss of $991 thousand for the period ended 2013-01-31.
26 Feb 2013securities registration● Neutral
WESTMOUNTAIN GOLD, INC. filed notice of an exempt private placement.
25 Feb 2013material agreement● NeutralMajor
WestMountain signed a non-final letter of intent to buy the remaining interest in the Terra Project in Alaska, which would give it 100% ownership. It would pay $6.0 million in cash plus 750,000 restricted shares, in stages ($3.0M and the shares on April 15, 2013; $2.0M on July 15, 2013; $1.0M on April 14, 2014), plus a 0.5%-3% sliding royalty on precious metals and 2% on base metals, and $150,000 plus 250,000 shares to finish its vesting with International Tower Hill Mines. The filing text names the seller as Raven Gold Alaska, while the attached press release names Corvus Gold as the seller, so the counterparty is inconsistent within the filing; the press release says the deal replaces the earlier earn-in agreement, which gave Corvus 49% of production and up to a 5% royalty.
30 Jan 2013securities registration● Neutral
WESTMOUNTAIN GOLD, INC. filed notice of an exempt private placement.
15 Jan 2013securities registration● Neutral
WESTMOUNTAIN GOLD, INC. filed notice of an exempt private placement.
14 Jan 2013securities registration● Neutral
WESTMOUNTAIN GOLD, INC. filed notice of an exempt private placement.