23 Nov 2015quarterly activities report▼ Bad
U.S. RARE EARTHS, INC reported a quarterly net loss of $1.0 million for the period ended 2015-09-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Nov 2015late filing notice▼ Bad
U.S. RARE EARTHS, INC notified the SEC that its quarterly report would be filed late.
14 Aug 2015quarterly activities report▼ Bad
U.S. RARE EARTHS, INC reported a quarterly net loss of $1.6 million for the period ended 2015-06-30.
15 July 2015listing compliance notice▼ Bad
U.S. RARE EARTHS, INC withdrew a registration statement, abandoning the offering it covered.
1 June 2015capital raising announcement▼ Bad
On May 26, 2015 the company issued a convertible note with a $285,000 face value to an accredited investor for $200,000, maturing in six months with no interest unless in default. After a default, it converts at a 20% discount to the average of the three lowest closing bids in the prior 20 trading days (up to 15% more discount in certain defaults). Defaults include late SEC filings or loss of OTCQB quotation, and then the note carries 22% interest. The terms are unusually costly relative to the cash received ($85,000 above the purchase price); that comparison is an inference from the stated figures.
14 May 2015quarterly activities report● Neutral
U.S. RARE EARTHS, INC reported quarterly revenue of $0 for the period ended 2015-03-31.
19 Mar 2015listing compliance notice▲ GoodMajor
Nasdaq certified U.S. RARE EARTHS, INC's securities for listing, clearing them to begin trading.
6 Mar 2015securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
3 Mar 2015securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
2 Mar 2015director interest notice● Neutral
U.S. RARE EARTHS, INC director John Victor Lattimore Jr. bought 36,667 shares on the open market at $3.00.
2 Mar 2015director interest notice● Neutral
F. Scott Chrimes became a U.S. RARE EARTHS, INC Chief Financial Officer and company insider (initial ownership filing).
30 Jan 2015securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
27 Jan 2015securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
26 Jan 2015securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
15 Jan 2015securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
8 Jan 2015securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
17 Dec 2014securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
21 Nov 2014agm notice● Neutral
U.S. RARE EARTHS, INC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
4 Nov 2014quarterly activities report▼ Bad
U.S. RARE EARTHS, INC reported quarterly revenue of $0 and a net loss of $1.7 million for the period ended 2014-09-30.
15 Oct 2014agm notice● Neutral
U.S. RARE EARTHS, INC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
3 Oct 2014capital raising announcement▲ Good
The company reported selling 120,000 shares at $2.50 each, plus warrants for 139,200 shares at $1.50 expiring December 31, 2015, to two accredited investors in August and September 2014, for $300,000. A press release says it has raised $3.1 million in total since December 2013.
What it means for a shareholder
120,000 new shares at $2.50 to raise about $300,000. That's 0.379% dilution: every existing holder's slice gets 0.379% smaller. If you held $1,000 of shares (400 at the issue price), your slice goes from 0.00127% to 0.00126% of the company. To keep it you'd need 2 more shares - about $5 at the issue price.
Create a free account to see this worked out for your own holding.
12 Aug 2014quarterly activities report▼ Bad
U.S. RARE EARTHS, INC reported a quarterly net loss of $1.6 million for the period ended 2014-06-30.
18 July 2014securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
3 July 2014securities registration● Neutral
U.S. RARE EARTHS, INC amended a filing by which it registered a securities offering with the SEC.
15 May 2014quarterly activities report● Neutral
U.S. RARE EARTHS, INC reported quarterly revenue of $0 for the period ended 2014-03-31.
14 May 2014securities registration● Neutral
U.S. RARE EARTHS, INC registered a securities offering with the SEC.
31 Mar 2014late filing notice▼ Bad
U.S. RARE EARTHS, INC notified the SEC that its annual report would be filed late.
20 Mar 2014financial restatement▼ BadMajor
On March 17, 2014 the audit committee concluded the unaudited June and September 2013 quarterly statements could not be relied on, due to non-cash errors. An unrecorded option to Lattimore Properties ($5.1 million) and Logic shares revalued at $1.94 (extra $2.8 million) lifted the June quarter loss from $5.5 million to $13.4 million. The September loss was restated from $361,796 to $318,463.
5 Feb 2014director interest notice● Neutral
U.S. RARE EARTHS, INC director Carol C. Kondos received 150,000 shares as part of the equity award.
5 Feb 2014director interest notice● Neutral
U.S. RARE EARTHS, INC director John Victor Lattimore Jr. received 500,000 shares as part of the equity award.