17 Nov 2010capital raising announcement● Neutral
Two more service providers, Todd Huss and Dave Strachan, converted a combined $4,650 in fees into 46,500 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
10 Nov 2010capital raising announcement▲ Good
Athena Silver raised $300,000 selling 3,000,000 shares at $0.10 -- mostly to two related parties plus one outside investor -- continuing to fund Langtry exploration.
What it means for a shareholder
3.0m new shares at US$0.100 to raise about US$300,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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1 Nov 2010capital raising announcement● Neutral
An amended filing says that on October 29, 2010 the company (then Athena Silver) agreed to issue 625,000 shares to its legal counsel Clifford Neuman in settlement of $62,500 in unpaid legal fees. No cash was received. The amount differs from the $50,000 conversion for the same 625,000 shares recorded in the August 2010 summaries, so this amendment appears to restate or replace that earlier figure (inference); the filing itself does not say why.
30 Aug 2010capital raising announcement● Neutral
Two service providers, Donaldson Consulting Services and Ben Kirby, converted a combined $20,000 in accrued fees into 200,000 shares -- more of the same debt-to-equity settlements with vendors.
23 Aug 2010capital raising announcement● Neutral
Legal counsel Clifford Neuman converted another $50,000 of accrued fees into 625,000 shares -- the same stock-for-services pattern recurring.
4 Aug 2010capital raising announcement● Neutral
Principal shareholder John Gibbs advanced Athena Silver a further $25,000 unsecured loan and again took a stock financing fee (50,000 shares) on top of the note's interest -- Gibbs's insider lending, already underway since 2007, continued.
22 Apr 2010capital raising announcement▲ Good
Athena Silver raised another $200,000, selling 2,000,000 shares at $0.10 to a mix of related parties and outside investors for working capital -- continued funding of the Langtry exploration push.
What it means for a shareholder
2.0m new shares at US$0.100 to raise about US$200,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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15 Mar 2010capital raising announcement● Neutral
Athena Minerals signed the definitive 20-year Lease and Option to Purchase for the 413-acre Langtry property, superseding a preliminary Sale and Purchase Agreement from December 2009 -- formalizing the deal underpinning Athena's new silver-mining identity. 220,000 shares were issued as part of the consideration.
5 Feb 2010capital raising announcement▲ GoodMajor
Newly renamed Athena Silver Corporation sold the first tranche of a private offering -- 1,095,000 shares at $0.10 for $109,500 cash -- the first capital raised under the new mining identity, with a further tranche to follow.
What it means for a shareholder
1.1m new shares at US$0.100 to raise about US$109,500. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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19 June 2009capital raising announcement▼ BadMajor
Outside counsel Clifford Neuman converted $100,000 in accrued fees and a convertible debenture into 2.5 million shares priced at a 20% discount to market -- the brewery paying off an insider with deeply discounted stock as cash ran out, shortly before the business was wound down and repurposed as a mining shell.
6 Jan 2009capital raising announcement▼ BadMajor
Golden West's brewing subsidiary borrowed $200,000 via a 6% convertible debenture secured by essentially all its tangible and intangible assets -- a sign of tightening finances as the brewery's viability came into question, about a year before it was abandoned for mining.
14 Sept 2007capital raising announcement● NeutralMajor
President John Power assigned $225,000 of advances the brewery owed him to two entities, Shana Capital and Webquest, which converted the debt into 300,000 shares of newly authorized Series A Convertible Preferred Stock -- the first instance of insider debt being restructured into equity, a maneuver the company (later Athena Silver, then Athena Gold) repeated for the next decade under the same CEO.
12 July 2007capital raising announcement● Neutral
Golden West sold 282,000 shares for $93,060, with about a fifth of that paid not in cash but as a credit against its open legal bill with counsel Clifford Neuman -- an early instance of the stock-for-services pattern that recurred throughout the company's history.
20 Mar 2007capital raising announcement● Neutral
Golden West Brewing raised $140,000 selling 400,000 units (stock plus two-year warrants) at $0.35 each to three accredited investors -- ordinary equity financing for the still-operating brewery.
What it means for a shareholder
400,000 new shares at about US$0.350 to raise about US$140,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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29 Aug 2006capital raising announcement● Neutral
Golden West Brewing Company (the shell that later became Athena Gold) granted 400,000 stock options to five directors, employees and consultants at $0.50/share -- routine non-cash compensation during the brewery's early years, before any mining pivot.