Past year: ▲ 142%(4.02 – 10.41 USD)
Each one in plain English, with the numbers worked through for a shareholder.
6 Sept 2006capital raising announcement▲ GoodMajor
Paid 2.05 million shares for another 25% of the Fetter gas project in Wyoming, raising its interest there from 67.5% to 92.5%. At seller SunStone's request the shares went to BlackRock-managed funds, putting a large institution on the share register.
5 Jan 2006capital raising announcement▲ GoodMajor
Agreed to fund 60% of partner North Finn's drilling and lease costs in exchange for 60% of its interest, plus $535,000 cash and the right for North Finn to take 2.9 million American shares - lifting American's ownership of the Powder River and Big Horn Basin projects from 75% to 90%. Deepens the North Finn partnership begun with the 2003 acreage purchase.
27 July 2005capital raising announcement▲ GoodMajor
Raised $13.5 million selling convertible preferred stock paying an 8% dividend, with the conversion price set by drilling luck: $6.00 a share if the Sims 16-26 well at the Fetter project began selling gas within 60 days, $4.50 if not. The first financing since the company stepped up from the OTC bulletin board to the American Stock Exchange in May 2005.
28 Sept 2004capital raising announcement▲ GoodMajor
Completed a private placement of 3 million shares at $1.50, raising $4.5 million gross and about $4.4 million net. The shares went to six institutional accredited investors.
What it means for a shareholder
3.0m new shares at $1.50 to raise about $4.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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