2 Dec 2014director interest notice● Neutral
Donna S Moore became a Star Mountain Resources, Inc. InterimCFO,Treasurer&Secretary and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 Dec 2014substantial holder notice● Neutral
Summit Capital USA, Inc reported a Star Mountain Resources, Inc. shareholding of 3,007,776 shares (19.20% of votes) in a periodic institutional filing.
2 Dec 2014director interest notice● Neutral
Donna S Moore became a Star Mountain Resources, Inc. InterimCFO,Treasurer&Secretary and company insider (initial ownership filing).
2 Dec 2014director interest notice● Neutral
Star Mountain Resources, Inc. InterimCFO,Treasurer&Secretary Donna S Moore received 100,000 shares as part of the equity award.
2 Dec 2014director interest notice● Neutral
Star Mountain Resources, Inc. director Douglas Charles Maclellan received 75,000 shares as part of the equity award.
2 Dec 2014director interest notice● Neutral
Star Mountain Resources, Inc. director Edward Francis Brogan received 150,000 shares as part of the equity award.
18 Nov 2014quarterly activities report▼ Bad
Star Mountain Resources, Inc. reported a quarterly net loss of $433 thousand for the period ended 2014-09-30.
14 Nov 2014late filing notice▼ Bad
Star Mountain Resources, Inc. notified the SEC that its quarterly report would be filed late.
3 Nov 2014quarterly activities report▼ Bad
Star Mountain Resources, Inc. reported a quarterly net loss of $433 thousand for the period ended 2014-09-30.
3 Nov 2014quarterly activities report▼ Bad
Star Mountain Resources, Inc. reported a quarterly net loss of $433 thousand for the period ended 2014-09-30.
29 Oct 2014capital raising announcement● NeutralMajor
New CEO Joseph Marchal and director Edward Brogan converted $1.5 million of convertible debt (plus $175,433 accrued interest) into 3.35 million new shares, and halved their warrants' exercise price to $0.50 before exercising for another 750,000 shares -- consolidating insider ownership as the company rebuilt under new leadership after the Stanford scandal.
15 Oct 2014substantial holder notice● Neutral
Michael Christiansen reported a Star Mountain Resources, Inc. shareholding of 750,000 shares (6.50% of votes) in a periodic institutional filing.
3 Oct 2014director interest notice● Neutral
Summit Capital Usa, INC. became a Star Mountain Resources, Inc. 10%+ owner and company insider (initial ownership filing).
3 Oct 2014substantial holder notice● Neutral
Summit Capital USA Inc reported a Star Mountain Resources, Inc. shareholding of 1,853,443 shares (16.06% of votes) in a periodic institutional filing.
2 Oct 2014material agreement▼ BadMajor
After an internal investigation, the board voided a side deal in which Stanford's private company TBG took $750,000 from investor Donald Sutherland for stock and a royalty. The company alleged Stanford caused at least $2.59 million in losses. Sutherland, found blameless, returned 3.86 million of his 5.36 million shares, and Stanford's 25 million shares were cancelled.
26 Sept 2014material agreement● Neutral
The company settled disputes with its former CFO Robbie Chidester and his firm CFO Advantage: Chidester returned 500,000 shares for cancellation and the firm waived a $13,716 unpaid-fee claim, closing out a tenure that ran from the October 2012 reverse merger through his May 2014 resignation.
24 Sept 2014financial restatement▼ BadMajor
A deeper restatement followed: the 2013 annual report had wrongly booked former CEO Michael Stanford's personal expenses as company expenses and misrecorded a stock issuance to him -- an early public sign that Stanford, who had already resigned, had misused company funds.
23 June 2014director interest notice● Neutral
Edward Francis Brogan became a Star Mountain Resources, Inc. director and company insider (initial ownership filing).
23 June 2014director interest notice● Neutral
Joseph Hamilton Marchal became a Star Mountain Resources, Inc. Executive Chairman and company insider (initial ownership filing).
18 June 2014director interest notice● Neutral
Douglas Charles Maclellan became a Star Mountain Resources, Inc. Director and company insider (initial ownership filing).
23 May 2014financial restatement▼ BadMajor
The company (still named Jameson Stanford Resources) told investors that its quarterly financial statements for March, June and September 2013 can't be relied on because of accounting errors, and that corrected versions will be filed within 30 days. As of September 30, 2013 the fixes cut current liabilities by $721,997, raised additional paid-in capital by $1,018,617, added $302,450 to operating expenses and $23,200 to related-party interest expense, and increased the loss per share by $0.03. This came weeks before Stanford's resignation as CEO (about May 27, 2014) amid the board investigation, but the filing does not link the two (and is signed by Stanford as CEO).
15 May 2014late filing notice▼ Bad
Star Mountain Resources, Inc. notified the SEC that its quarterly report would be filed late.
28 Apr 2014financial restatement▼ BadMajor
The company restated three 2013 quarterly filings after finding accounting errors in how it recorded stock-sale proceeds, two large 2013 share issuances (230,426 and 5,360,000 shares), and mineral-claim maintenance costs.
17 Apr 2014substantial holder notice● Neutral
Michael Christiansen disclosed a new substantial Star Mountain Resources, Inc. shareholding (2.20% of votes).
31 Mar 2014late filing notice▼ Bad
Star Mountain Resources, Inc. notified the SEC that its annual report would be filed late.
12 Feb 2014auditor change▼ Bad
Auditor Mantyla McReynolds declined to stand for re-appointment -- its prior reports had already carried going-concern doubt -- and the company engaged HJ & Associates as its new auditor.
26 Dec 2013substantial holder notice● Neutral
Summit Capital USA Inc reported a Star Mountain Resources, Inc. shareholding of 2,228,173 shares (7.06% of votes) in a periodic institutional filing.
19 Nov 2013quarterly activities report▼ Bad
Star Mountain Resources, Inc. reported a quarterly net loss of $620 thousand for the period ended 2013-09-30.
14 Nov 2013late filing notice▼ Bad
Star Mountain Resources, Inc. notified the SEC that its quarterly report would be filed late.
24 Oct 2013capital raising announcement● Neutral
The company issued a second $500,000 convertible note on similar 12% terms, this time to Edward Brogan, secured by the same Utah mining claims -- both 2013 notes were funding exploration almost entirely through insider debt convertible at a discount to market.