19 Oct 2020listing compliance notice▼ Bad
WESTMOUNTAIN GOLD, INC. withdrew a registration statement, abandoning the offering it covered.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
13 June 2019securities registration● Neutral
WESTMOUNTAIN GOLD, INC. amended a filing by which it filed notice of an exempt private placement.
13 June 2019securities registration● Neutral
WESTMOUNTAIN GOLD, INC. filed notice of an exempt private placement.
19 May 2017listing compliance notice▼ BadMajor
WESTMOUNTAIN GOLD, INC. deregistered its securities, ending its obligation to file reports with the SEC.
7 Mar 2017bankruptcy or receivership▼ BadMajor
WestMountain Gold and its subsidiary Terra Gold Corporation filed for Chapter 11 bankruptcy on March 1, 2017 in the Colorado bankruptcy court, and say they will keep operating as debtors-in-possession. The filing is a default on the Andres notes, the Dessi note and all of the BOCO notes and security agreements, including a new $172,520 BOCO note from November 2016 and a January 31, 2017 pledge by BOCO of a $1,224,140 certificate of deposit for the Alaska Department of Natural Resources performance guarantee. This follows the earlier defaults and BOCO's May 2016 demand; BOCO has the right to foreclose, but creditor enforcement is paused by the bankruptcy stay. The filing does not say what happens to existing shares.
16 Dec 2016substantial holder notice● Neutral
BOCO Investment, LLC, WestMountain Prime, LLC, Pat Stryker Living Trust, dated October, Pat Stryker reported a WESTMOUNTAIN GOLD, INC. shareholding of 49,691,034 shares (54.20% of votes) in a periodic institutional filing.
16 Dec 2016director interest notice● Neutral
WESTMOUNTAIN GOLD, INC. 10%+ owner Joseph C Zimlich bought 16,150,000 shares on the open market.
14 Sept 2016late filing notice▼ Bad
WESTMOUNTAIN GOLD, INC. notified the SEC that its quarterly report would be filed late.
18 Aug 2016debt financing▼ BadMajor
BOCO raised its credit line from $640,000 to $1,000,000 and advanced $80,000 on August 11, 2016; three directors (Klemsz, Bloom's family partnership, Creamer) also lent $80,000 in total, due August 31, 2016, with commitments of up to $160,000. The company attributes the borrowing to delays in revenue caused by operational problems at the Terra camp. It says its debts may need to be amended or swapped for new debt or equity, which could cause substantial dilution and raises the risk of little to no recovery for shareholders. BOCO is or can become owner of about 54.2% of the shares. The filing says interest continues at 5%, whereas the April note said 8%, an inconsistency in the filing.
30 June 2016director interest notice● Neutral
Joseph C Zimlich became a WESTMOUNTAIN GOLD, INC. 10%+ owner and company insider (initial ownership filing).
30 June 2016substantial holder notice● Neutral
Joseph C. Zimlich disclosed a new substantial WESTMOUNTAIN GOLD, INC. shareholding (18.70% of votes).
29 June 2016substantial holder notice● Neutral
BOCO Investment, LLC, WestMountain Prime, LLC, Pat Stryker Living Trust, dated October, Pat Stryker reported a WESTMOUNTAIN GOLD, INC. shareholding of 49,607,701 shares (54.20% of votes) in a periodic institutional filing.
29 June 2016director interest notice● Neutral
Richard A Bloom became a WESTMOUNTAIN GOLD, INC. director and company insider (initial ownership filing).
29 June 2016substantial holder notice● Neutral
Richard A. Bloom, Bloom Family Investments Limited Partnership disclosed a new substantial WESTMOUNTAIN GOLD, INC. shareholding (9.80% of votes).
29 June 2016substantial holder notice● Neutral
Brian L Klemsz disclosed a new substantial WESTMOUNTAIN GOLD, INC. shareholding (18.70% of votes).
29 June 2016director interest notice● Neutral
WESTMOUNTAIN GOLD, INC. 10%+ owner Boco Investments LLC bought 1,816,296 shares on the open market.
27 June 2016director interest notice● Neutral
Brian L Klemsz became a WESTMOUNTAIN GOLD, INC. director and company insider (initial ownership filing).
20 June 2016quarterly activities report▼ Bad
WESTMOUNTAIN GOLD, INC. reported a quarterly net loss of $37 thousand for the period ended 2016-04-30.
14 June 2016late filing notice▼ Bad
WESTMOUNTAIN GOLD, INC. notified the SEC that its quarterly report would be filed late.
31 May 2016debt financing▼ BadMajor
On May 25, 2016 BOCO formally demanded immediate payment of all ten notes, totalling about $5,714,841 in principal and interest. The company says it has been in default since December 15, 2015, and is considering options including continuing talks with BOCO. The notes are secured on company assets. This escalates the default described in earlier filings.
19 Apr 2016debt financing▼ BadMajor
BOCO provided a line of credit of up to $640,000 at 8%, due October 31, 2018, secured on company assets; $160,000 has been advanced so far, and BOCO can decline any further advance. The company says it has several loans owing to BOCO, mostly in default, that it could not pay if BOCO demanded payment; this note does not change their status. BOCO holds or can acquire about 61.9% of the shares.
28 Mar 2016debt financing▼ BadMajor
On March 22, 2016 the company borrowed $125,000 from BOCO on a secured note at 8%, due March 22, 2017. The money was paid to Ben Porterfield to maintain rights to certain mining claims. BOCO is, or has rights to become, owner of about 61.9% of the company's common stock.
21 Mar 2016quarterly activities report▼ Bad
WESTMOUNTAIN GOLD, INC. reported quarterly revenue of $69 thousand and a net loss of $940 thousand for the period ended 2016-01-31.
16 Mar 2016late filing notice▼ Bad
WESTMOUNTAIN GOLD, INC. notified the SEC that its quarterly report would be filed late.
3 Mar 2016substantial holder notice● Neutral
BOCO Investment, LLC, WestMountain Prime, LLC, Pat Stryker Living Trust, dated October, Pat Stryker reported a WESTMOUNTAIN GOLD, INC. shareholding of 47,791,405 shares (58.90% of votes) in a periodic institutional filing.
1 Feb 2016late filing notice▼ Bad
WESTMOUNTAIN GOLD, INC. notified the SEC that its annual report would be filed late.
20 Jan 2016debt financing▼ BadMajor
The company says the notes due to BOCO on October 1 and November 15, 2015 were extended to December 15, 2015 but are now in default. It cannot currently repay them and is negotiating an extension; BOCO has the right to use all remedies, including foreclosing on company assets. BOCO is owed $4,493,159 including interest. The May 2015 modification also lowered the BOCO note interest rate to 8%. Unsecured 2012 notes to Fabian and Bill Andres ($200,000 principal, $238,329 owed) are also in default. This reverses the progress made in the May 2015 restructuring.
21 Sept 2015quarterly activities report▼ Bad
WESTMOUNTAIN GOLD, INC. reported quarterly revenue of $278 thousand and a net loss of $816 thousand for the period ended 2015-07-31.
14 Sept 2015late filing notice▼ Bad
WESTMOUNTAIN GOLD, INC. notified the SEC that its quarterly report would be filed late.
14 Aug 2015auditor change● Neutral
The board dismissed auditor PMB Helin Donovan on August 10, 2015 and engaged EKS&H LLLP to audit the fiscal year ending October 31, 2015. The filing says PMB's reports for the past two years had no adverse opinion and that there were no disagreements. The filing does not give a reason for the change.