Past year: ▲ 387%(3.80c – 42.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
17 July 2008material agreement termination▼ BadMajor
The Fish Brewing acquisition fell through -- Golden West and the seller mutually rescinded the deal, apparently unable to meet the ownership-threshold condition.
9 June 2008material agreement● NeutralMajor
Golden West signed a stock purchase agreement to acquire a majority stake in Fish Brewing Company, an Olympia, WA organic microbrewery, contingent on rounding up enough other sellers to reach 51% ownership by June 30, 2008. (Filed under a debt-financing item code, but the filing's actual content is entirely about this acquisition attempt -- corrected here.)
14 Mar 2008debt financing▼ Bad
A further $50,000 loan, personally guaranteed by CEO Power and secured against the Blue Marble Brewing assets -- the financing squeeze continued.
18 Dec 2007debt financing▼ BadMajor
Golden West's board approved a $350,000 credit facility from four company insiders, including CEO John Power -- convertible into stock at a discount to market and paying a stock-fee kicker on every advance. An early sign the brewer was leaning on related-party financing to stay afloat.
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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8 Mar 2007material agreement● Neutral
Golden West Brewing Company (the corporate shell that later became Athena Gold) signed a two-year contract-brewing deal for Bison Brewing's beer and hired Bison's manager as its CFO -- a routine operating agreement from the craft-brewing business the company ran before its 2010 pivot to mining.
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.
