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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Goldfield Corp | AMEX:GV | AMEX | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 7.00 | 0 | 01:00:00 |
|
x
|
Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
|
|
|
|
For the fiscal year ended December 31, 2016
|
¨
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Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
|
|
|
|
For the transition period from
to
|
Delaware
|
|
88-0031580
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer
Identification No.)
|
Title of each class
|
|
Name of each exchange on which registered
|
Common Stock
|
|
NYSE MKT LLC
|
par value $0.10 per share
|
|
|
Large accelerated filer
|
¨
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Accelerated filer
|
¨
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Non-accelerated filer
|
¨
|
|
Smaller reporting company
|
x
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Page
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|
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|
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|
|
|
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|
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|
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|
|
|
Santee Cooper (South Carolina Public Service Authority)
|
|
Central Electric Power Cooperative, Inc.
|
Florida Power & Light Company
|
|
Duke Energy Corporation
|
CPS Energy
|
|
Orlando Utilities Commission
|
Lower Colorado River Authority
|
|
Lee County Electric Cooperative
|
|
|
Backlog as of
|
|
Backlog as of
|
||||||||||||
|
|
December 31, 2016
|
|
December 31, 2015
|
||||||||||||
Electrical Construction Operations
|
|
12-Month
|
|
Total
|
|
12-Month
|
|
Total
|
||||||||
Project-Specific Firm Contracts
|
|
$
|
27,094,081
|
|
|
$
|
27,094,081
|
|
|
$
|
56,996,145
|
|
|
$
|
60,195,066
|
|
Estimated MSAs
|
|
70,464,180
|
|
|
162,923,289
|
|
|
27,724,000
|
|
|
142,675,666
|
|
||||
Total
|
|
$
|
97,558,261
|
|
|
$
|
190,017,370
|
|
|
$
|
84,720,145
|
|
|
$
|
202,870,732
|
|
•
|
the timing and volume of work under contract;
|
•
|
changes in national, regional, local and general economic conditions;
|
•
|
the budgetary spending patterns of customers;
|
•
|
variations in margins of projects performed during any particular quarter;
|
•
|
a change in the demand for our services;
|
•
|
increased costs of performance of our services caused by severe weather conditions;
|
•
|
increases in design and construction costs that we are unable to pass through to our customers;
|
•
|
the termination of existing agreements;
|
•
|
losses experienced in our operations that are not covered by insurance;
|
•
|
a change in the mix of our customers, contracts and business;
|
•
|
availability of qualified labor hired for specific projects; and
|
•
|
changes in bonding requirements applicable to existing and new agreements.
|
•
|
failure to properly estimate costs of engineering, material, equipment or labor;
|
•
|
unanticipated technical problems with the materials or services being supplied by us, which may require us to incur additional costs to remedy the problem;
|
•
|
project modifications that create unanticipated costs;
|
•
|
changes in costs of equipment, materials, labor or subcontractors;
|
•
|
the failure of our suppliers or subcontractors to perform;
|
•
|
difficulties in our customers obtaining required governmental permits or approvals;
|
•
|
site conditions that differ from those assumed in the original bid (to the extent contract remedies are unavailable);
|
•
|
the availability and skill level of workers in the geographic location of the project;
|
•
|
an increase in the cost of fuel or other resources;
|
•
|
changes in local laws and regulations;
|
•
|
delays caused by local weather conditions, third parties or customers; and
|
•
|
quality issues requiring rework.
|
Item 5.
|
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
|
|
2016
|
|
2015
|
||||||||||||
|
High
|
|
Low
|
|
High
|
|
Low
|
||||||||
First Quarter
|
$
|
1.74
|
|
|
$
|
1.13
|
|
|
$
|
2.85
|
|
|
$
|
1.68
|
|
Second Quarter
|
3.44
|
|
|
1.70
|
|
|
2.06
|
|
|
1.20
|
|
||||
Third Quarter
|
4.00
|
|
|
2.54
|
|
|
1.99
|
|
|
1.28
|
|
||||
Fourth Quarter
|
5.40
|
|
|
2.60
|
|
|
1.93
|
|
|
1.44
|
|
|
Year Ended December 31,
|
||||||||||||||||||||||
|
2016
|
|
|
2015
|
|
|
2014
|
|
|
2013
|
|
|
2012
|
||||||||||
|
(In thousands except per share and share amounts)
|
||||||||||||||||||||||
Continuing operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Electrical construction
|
$
|
125,771
|
|
|
|
$
|
119,617
|
|
|
|
$
|
94,827
|
|
|
|
$
|
88,755
|
|
|
|
$
|
80,433
|
|
Other
|
4,652
|
|
|
|
955
|
|
|
|
3,537
|
|
|
|
449
|
|
|
|
1,196
|
|
|||||
Total revenue
|
$
|
130,423
|
|
|
|
$
|
120,571
|
|
|
|
$
|
98,363
|
|
|
|
$
|
89,204
|
|
|
|
$
|
81,629
|
|
Income before taxes from continuing operations
|
$
|
20,918
|
|
|
|
$
|
8,204
|
|
|
|
$
|
778
|
|
|
|
$
|
7,792
|
|
|
|
$
|
16,745
|
|
Income tax provision
|
7,810
|
|
|
|
3,378
|
|
|
|
653
|
|
|
|
3,285
|
|
|
|
4,783
|
|
|||||
Income from continuing operations
|
13,108
|
|
|
|
4,826
|
|
|
|
125
|
|
|
|
4,507
|
|
|
|
11,961
|
|
|||||
Discontinued operations
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Loss from operations, net of tax
|
(108
|
)
|
|
|
(333
|
)
|
|
|
(444
|
)
|
|
|
(724
|
)
|
|
|
—
|
|
|||||
Net income
|
$
|
13,000
|
|
|
|
$
|
4,493
|
|
|
|
$
|
(319
|
)
|
|
|
$
|
3,783
|
|
|
|
$
|
11,961
|
|
Earnings (loss) per share — basic and diluted
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Continuing operations
|
$
|
0.52
|
|
|
|
$
|
0.19
|
|
|
|
$
|
—
|
|
|
|
$
|
0.18
|
|
|
|
$
|
0.47
|
|
Discontinued operations
|
—
|
|
|
|
(0.01
|
)
|
|
|
(0.02
|
)
|
|
|
(0.03
|
)
|
|
|
—
|
|
|||||
Net income (loss)
|
$
|
0.51
|
|
|
|
$
|
0.18
|
|
|
|
$
|
(0.01
|
)
|
|
|
$
|
0.15
|
|
|
|
$
|
0.47
|
|
Weighted average shares outstanding — basic and diluted
|
25,451,354
|
|
|
|
25,451,354
|
|
|
|
25,451,354
|
|
|
|
25,451,354
|
|
|
|
25,451,354
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Balance sheet data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Total assets
(2)
|
$
|
91,302
|
|
|
|
$
|
81,164
|
|
|
|
$
|
79,910
|
|
|
|
$
|
77,530
|
|
|
|
$
|
57,073
|
|
Long term debt including current portion, net
(2)
|
22,333
|
|
|
|
26,472
|
|
|
|
26,284
|
|
|
|
31,483
|
|
|
|
17,710
|
|
|||||
Stockholders’ equity
|
48,251
|
|
|
|
35,251
|
|
|
|
30,758
|
|
|
|
31,077
|
|
|
|
27,293
|
|
|||||
Working capital
|
32,993
|
|
|
|
25,498
|
|
|
|
19,674
|
|
|
|
21,923
|
|
|
|
18,822
|
|
(1)
|
For information as to Discontinued Operations, see note 4 to the consolidated financial statements.
|
(2)
|
Reflects t
he
presentation of debt issuance costs in accordance with t
he adoption of Accounting Standard Update No. 2015-03 and 2015-15,
which resulted in a reduction of total assets and long term debt
of
$60,000
,
$49,000
, and
$45,000
as of December 31, 2014, 2013 and 2012, respectively.
|
|
2016
|
|
2015
|
||||
Revenue
|
|
|
|
||||
Electrical construction
|
$
|
125,771,361
|
|
|
$
|
119,616,561
|
|
Other
|
4,652,102
|
|
|
954,610
|
|
||
Total revenue
|
130,423,463
|
|
|
120,571,171
|
|
||
Costs and expenses
|
|
|
|
||||
Electrical construction
|
93,566,045
|
|
|
99,726,789
|
|
||
Other
|
3,242,887
|
|
|
785,405
|
|
||
Selling, general and administrative
|
5,913,132
|
|
|
4,747,492
|
|
||
Depreciation and amortization
|
6,312,164
|
|
|
6,559,241
|
|
||
Gain on sale of property and equipment
|
(17,535
|
)
|
|
(22,840
|
)
|
||
Total costs and expenses
|
109,016,693
|
|
|
111,796,087
|
|
||
Total operating income
|
$
|
21,406,770
|
|
|
$
|
8,775,084
|
|
|
|
Backlog as of
|
|
Backlog as of
|
||||||||||||
|
|
December 31, 2016
|
|
December 31, 2015
|
||||||||||||
Electrical Construction Operations
|
|
12-Month
|
|
Total
|
|
12-Month
|
|
Total
|
||||||||
Project-Specific Firm Contracts
|
|
$
|
27,094,081
|
|
|
$
|
27,094,081
|
|
|
$
|
56,996,145
|
|
|
$
|
60,195,066
|
|
Estimated MSAs
|
|
70,464,180
|
|
|
162,923,289
|
|
|
27,724,000
|
|
|
142,675,666
|
|
||||
Total
|
|
$
|
97,558,261
|
|
|
$
|
190,017,370
|
|
|
$
|
84,720,145
|
|
|
$
|
202,870,732
|
|
|
|
|
|
|
|
|
|
|
Electrical Construction Operations Operating Income
|
|
2016
|
|
2015
|
||||
Total operating income (GAAP as reported)
|
|
$
|
21,406,770
|
|
|
$
|
8,775,084
|
|
Total operating income (GAAP as reported) as a percentage of total revenue ($130,423,463 and $120,571,171 for the years ended December 31, 2016 and 2015, respectively)
|
|
16.4
|
%
|
|
7.3
|
%
|
||
Other operations gross margin
|
|
(1,409,215
|
)
|
|
(169,205
|
)
|
||
Non-electrical construction selling, general and administrative
|
|
4,647,321
|
|
|
4,443,178
|
|
||
Non-electrical construction depreciation and amortization
|
|
132,333
|
|
|
134,771
|
|
||
Non-electrical construction loss on sale of property and equipment
|
|
206
|
|
|
113
|
|
||
Electrical construction operations operating income
|
|
$
|
24,777,415
|
|
|
$
|
13,183,941
|
|
Electrical construction operations operating income as a percentage of electrical construction revenue ($125,771,361 and $119,616,561 for the years ended December 31, 2016 and 2015, respectively)
|
|
19.7
|
%
|
|
11.0
|
%
|
|
2016
|
|
2015
|
||||
Electrical construction operations
|
$
|
1,265,811
|
|
|
$
|
304,314
|
|
Other
|
832,260
|
|
|
489,027
|
|
||
Corporate
|
3,815,061
|
|
|
3,954,151
|
|
||
Total
|
$
|
5,913,132
|
|
|
$
|
4,747,492
|
|
|
2016
|
|
2015
|
||||
Electrical construction operations
|
$
|
6,179,831
|
|
|
$
|
6,424,470
|
|
Other
|
15,103
|
|
|
14,770
|
|
||
Corporate
|
117,230
|
|
|
120,001
|
|
||
Total
|
$
|
6,312,164
|
|
|
$
|
6,559,241
|
|
|
2016
|
|
2015
|
||||
Income tax provision
|
$
|
7,809,768
|
|
|
$
|
3,378,205
|
|
Effective income tax rate
|
37.3
|
%
|
|
41.2
|
%
|
|
2016
|
|
2015
|
||||
Net cash provided by operating activities
|
$
|
18,057,251
|
|
|
$
|
5,567,807
|
|
Net cash used in investing activities
|
(4,669,739
|
)
|
|
(4,153,000
|
)
|
||
Net cash (used in) provided by financing activities
|
(4,162,102
|
)
|
|
137,252
|
|
||
Net increase in cash and cash equivalents
|
$
|
9,225,410
|
|
|
$
|
1,552,059
|
|
|
|
|
|
Actual as of
|
||||
Covenants Measured at Quarter End:
|
|
Covenant
|
|
December 31, 2016
|
||||
Tangible net worth minimum
|
|
$
|
20,000,000
|
|
|
$
|
47,336,989
|
|
Outside debt not to exceed
|
|
$
|
500,000
|
|
|
$
|
—
|
|
Maximum debt/tangible net worth ratio not to exceed
|
|
2.5 : 1.0
|
|
|
0.91 : 1.00
|
|
||
Covenants Measured at Year End:
|
|
|
|
|
||||
Earnings to fixed charge coverage ratio must equal or exceed
|
|
1.3 : 1.0
|
|
|
3.95 : 1:00
|
|
|
December 31,
|
||||||
|
2016
|
|
2015
|
||||
ASSETS
|
|
|
|
||||
Current assets
|
|
|
|
||||
Cash and cash equivalents
|
$
|
20,599,648
|
|
|
$
|
11,374,238
|
|
Accounts receivable and accrued billings
|
19,094,407
|
|
|
17,250,067
|
|
||
Costs and estimated earnings in excess of billings on uncompleted contracts
|
7,313,099
|
|
|
10,292,199
|
|
||
Income taxes receivable
|
533,837
|
|
|
—
|
|
||
Current portion of notes receivable
|
—
|
|
|
47,851
|
|
||
Residential properties under construction
|
1,552,131
|
|
|
145,450
|
|
||
Prepaid expenses
|
1,037,715
|
|
|
1,210,780
|
|
||
Deferred income taxes
|
—
|
|
|
773,245
|
|
||
Other current assets
|
1,298,044
|
|
|
1,140,779
|
|
||
Total current assets
|
51,428,881
|
|
|
42,234,609
|
|
||
|
|
|
|
||||
Property, buildings and equipment, at cost, net of accumulated depreciation of $33,140,214 in 2016 and $28,653,138 in 2015
|
33,245,947
|
|
|
34,671,947
|
|
||
Deferred charges and other assets
|
|
|
|
||||
Land and land development costs
|
4,930,331
|
|
|
2,417,089
|
|
||
Cash surrender value of life insurance
|
550,672
|
|
|
549,600
|
|
||
Restricted cash
|
173,041
|
|
|
307,092
|
|
||
Notes receivable, less current portion
|
—
|
|
|
8,197
|
|
||
Goodwill
|
101,407
|
|
|
101,407
|
|
||
Intangibles, net of accumulated amortization of $201,634 in 2016 and $140,134 in 2015
|
812,166
|
|
|
873,666
|
|
||
Other assets
|
59,712
|
|
|
—
|
|
||
Total deferred charges and other assets
|
6,627,329
|
|
|
4,257,051
|
|
||
Total assets
|
$
|
91,302,157
|
|
|
$
|
81,163,607
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
|
|
|
||||
Current liabilities
|
|
|
|
||||
Accounts payable and accrued liabilities
|
$
|
11,386,119
|
|
|
$
|
10,067,553
|
|
Billings in excess of costs and estimated earnings on uncompleted contracts
|
845,057
|
|
|
234,161
|
|
||
Current portion of notes payable, net
|
6,101,855
|
|
|
5,815,510
|
|
||
Income taxes payable
|
—
|
|
|
483,763
|
|
||
Accrued remediation costs
|
102,526
|
|
|
135,786
|
|
||
Total current liabilities
|
18,435,557
|
|
|
16,736,773
|
|
||
Deferred income taxes
|
8,204,324
|
|
|
8,328,492
|
|
||
Accrued remediation costs, less current portion
|
112,380
|
|
|
107,429
|
|
||
Notes payable, less current portion, net
|
16,231,373
|
|
|
20,656,402
|
|
||
Other accrued liabilities
|
67,961
|
|
|
83,698
|
|
||
Total liabilities
|
43,051,595
|
|
|
45,912,794
|
|
||
Commitments and contingencies (notes 4, 7 and 8)
|
—
|
|
|
—
|
|
||
Stockholders’ equity
|
|
|
|
||||
Preferred stock, $1 par value, 5,000,000 shares authorized, none issued
|
|
|
|
|
|
||
Common stock, $.10 par value, 40,000,000 shares authorized; 27,813,772 shares issued and 25,451,354 shares outstanding
|
2,781,377
|
|
|
2,781,377
|
|
||
Additional paid-in capital
|
18,481,683
|
|
|
18,481,683
|
|
||
Retained earnings
|
28,295,689
|
|
|
15,295,940
|
|
||
Treasury stock, 2,362,418 shares, at cost
|
(1,308,187
|
)
|
|
(1,308,187
|
)
|
||
Total stockholders’ equity
|
48,250,562
|
|
|
35,250,813
|
|
||
Total liabilities and stockholders’ equity
|
$
|
91,302,157
|
|
|
$
|
81,163,607
|
|
|
Years Ended December 31,
|
||||||
|
2016
|
|
2015
|
||||
Revenue
|
|
|
|
||||
Electrical construction
|
$
|
125,771,361
|
|
|
$
|
119,616,561
|
|
Other
|
4,652,102
|
|
|
954,610
|
|
||
Total revenue
|
130,423,463
|
|
|
120,571,171
|
|
||
Costs and expenses
|
|
|
|
||||
Electrical construction
|
93,566,045
|
|
|
99,726,789
|
|
||
Other
|
3,242,887
|
|
|
785,405
|
|
||
Selling, general and administrative
|
5,913,132
|
|
|
4,747,492
|
|
||
Depreciation and amortization
|
6,312,164
|
|
|
6,559,241
|
|
||
Gain on sale of property and equipment
|
(17,535
|
)
|
|
(22,840
|
)
|
||
Total costs and expenses
|
109,016,693
|
|
|
111,796,087
|
|
||
Total operating income
|
21,406,770
|
|
|
8,775,084
|
|
||
Other income (expense), net
|
|
|
|
||||
Interest income
|
33,465
|
|
|
20,727
|
|
||
Interest expense, net of amount capitalized
|
(591,176
|
)
|
|
(667,596
|
)
|
||
Other income, net
|
68,465
|
|
|
75,880
|
|
||
Total other expense, net
|
(489,246
|
)
|
|
(570,989
|
)
|
||
Income from continuing operations before income taxes
|
20,917,524
|
|
|
8,204,095
|
|
||
Income tax provision
|
7,809,768
|
|
|
3,378,205
|
|
||
Income from continuing operations
|
13,107,756
|
|
|
4,825,890
|
|
||
Loss from discontinued operations, net of income tax benefit of $66,077 in 2016 and $200,759 in 2015
|
(108,007
|
)
|
|
(332,748
|
)
|
||
Net income
|
$
|
12,999,749
|
|
|
$
|
4,493,142
|
|
Net income (loss) per share of common stock — basic and diluted
|
|
|
|
||||
Continuing operations
|
$
|
0.52
|
|
|
$
|
0.19
|
|
Discontinued operations
|
—
|
|
|
(0.01
|
)
|
||
Net income
|
$
|
0.51
|
|
|
$
|
0.18
|
|
Weighted average shares outstanding — basic and diluted
|
25,451,354
|
|
|
25,451,354
|
|
|
Years Ended December 31,
|
||||||
|
2016
|
|
2015
|
||||
Cash flows from operating activities
|
|
|
|
||||
Net income
|
$
|
12,999,749
|
|
|
$
|
4,493,142
|
|
Adjustments to reconcile net income to net cash provided by operating activities
|
|
|
|
||||
Depreciation and amortization
|
6,312,164
|
|
|
6,559,241
|
|
||
Amortization of debt issuance costs
|
23,418
|
|
|
51,028
|
|
||
Deferred income taxes
|
649,077
|
|
|
1,841,604
|
|
||
Gain on sale of property and equipment
|
(17,535
|
)
|
|
(22,840
|
)
|
||
Other gains
|
(1,072
|
)
|
|
(3,309
|
)
|
||
Changes in operating assets and liabilities
|
|
|
|
||||
Accounts receivable and accrued billings
|
(1,844,340
|
)
|
|
590,613
|
|
||
Costs and estimated earnings in excess of billings on uncompleted contracts
|
2,979,100
|
|
|
(3,754,919
|
)
|
||
Residential properties under construction
|
(1,406,681
|
)
|
|
(145,450
|
)
|
||
Income taxes receivable
|
(533,837
|
)
|
|
763,821
|
|
||
Prepaid expenses and other assets
|
(43,912
|
)
|
|
(1,503,251
|
)
|
||
Land and land development costs
|
(2,513,242
|
)
|
|
147,360
|
|
||
Restricted cash
|
134,051
|
|
|
259,229
|
|
||
Income taxes payable
|
(483,763
|
)
|
|
483,763
|
|
||
Accounts payable and accrued liabilities
|
1,286,576
|
|
|
414,244
|
|
||
Contract loss accruals
|
(65,089
|
)
|
|
(2,482,494
|
)
|
||
Billings in excess of costs and estimated earnings on uncompleted contracts
|
610,896
|
|
|
(1,303,810
|
)
|
||
Accrued remediation costs
|
(28,309
|
)
|
|
(820,165
|
)
|
||
Net cash provided by operating activities
|
18,057,251
|
|
|
5,567,807
|
|
||
Cash flows from investing activities
|
|
|
|
||||
Proceeds from disposal of property and equipment
|
263,876
|
|
|
1,796,786
|
|
||
Proceeds from notes receivable
|
56,048
|
|
|
47,380
|
|
||
Purchases of property, buildings and equipment
|
(4,989,663
|
)
|
|
(5,997,166
|
)
|
||
Net cash used in investing activities
|
(4,669,739
|
)
|
|
(4,153,000
|
)
|
||
Cash flows from financing activities
|
|
|
|
||||
Proceeds from notes payable
|
4,700,000
|
|
|
24,500,000
|
|
||
Repayments on notes payable
|
(8,840,137
|
)
|
|
(21,056,805
|
)
|
||
Installment loan repayments
|
—
|
|
|
(3,259,635
|
)
|
||
Debt issuance costs
|
(21,965
|
)
|
|
(46,308
|
)
|
||
Net cash (used in) provided by financing activities
|
(4,162,102
|
)
|
|
137,252
|
|
||
Net increase in cash and cash equivalents
|
9,225,410
|
|
|
1,552,059
|
|
||
Cash and cash equivalents at beginning of year
|
11,374,238
|
|
|
9,822,179
|
|
||
Cash and cash equivalents at end of year
|
$
|
20,599,648
|
|
|
$
|
11,374,238
|
|
Supplemental disclosure of cash flow information
|
|
|
|
||||
Interest paid, net of amounts capitalized
|
$
|
548,959
|
|
|
$
|
652,419
|
|
Income taxes paid, net
|
$
|
8,112,214
|
|
|
$
|
88,258
|
|
Supplemental disclosure of non-cash investing and financing activities
|
|
|
|
||||
Liability for equipment acquired
|
$
|
165,703
|
|
|
$
|
84,361
|
|
|
Common stock
|
|
Additional
paid-in capital |
|
Retained earnings
|
|
Treasury
stock |
|
Total
stockholders’ equity |
|||||||||||||
|
Shares
|
|
Amount
|
|
|
|
|
|||||||||||||||
Balance as of December 31, 2014
|
27,813,772
|
|
|
$
|
2,781,377
|
|
|
$
|
18,481,683
|
|
|
$
|
10,802,798
|
|
|
$
|
(1,308,187
|
)
|
|
$
|
30,757,671
|
|
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
4,493,142
|
|
|
—
|
|
|
4,493,142
|
|
|||||
Balance as of December 31, 2015
|
27,813,772
|
|
|
2,781,377
|
|
|
18,481,683
|
|
|
15,295,940
|
|
|
(1,308,187
|
)
|
|
35,250,813
|
|
|||||
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
12,999,749
|
|
|
—
|
|
|
12,999,749
|
|
|||||
Balance as of December 31, 2016
|
27,813,772
|
|
|
$
|
2,781,377
|
|
|
$
|
18,481,683
|
|
|
$
|
28,295,689
|
|
|
$
|
(1,308,187
|
)
|
|
$
|
48,250,562
|
|
|
2016
|
|
2015
|
||||
Costs incurred on uncompleted contracts
|
$
|
47,282,570
|
|
|
$
|
46,719,492
|
|
Estimated earnings
|
18,644,216
|
|
|
18,910,883
|
|
||
|
65,926,786
|
|
|
65,630,375
|
|
||
Less billings to date
|
59,458,744
|
|
|
55,572,337
|
|
||
Total
|
$
|
6,468,042
|
|
|
$
|
10,058,038
|
|
Included in the consolidated balance sheets under the following captions
|
|
|
|
||||
Costs and estimated earnings in excess of billings on uncompleted contracts
|
$
|
7,313,099
|
|
|
$
|
10,292,199
|
|
Billings in excess of costs and estimated earnings on uncompleted contracts
|
(845,057
|
)
|
|
(234,161
|
)
|
||
Total
|
$
|
6,468,042
|
|
|
$
|
10,058,038
|
|
|
2016
|
|
2015
|
||||
Current
|
|
|
|
||||
Federal
|
$
|
6,157,900
|
|
|
$
|
1,423,082
|
|
State
|
1,014,213
|
|
|
422,147
|
|
||
|
7,172,113
|
|
|
1,845,229
|
|
||
Deferred
|
|
|
|
||||
Federal
|
570,770
|
|
|
1,348,420
|
|
||
State
|
66,885
|
|
|
184,556
|
|
||
|
637,655
|
|
|
1,532,976
|
|
||
Total
|
$
|
7,809,768
|
|
|
$
|
3,378,205
|
|
|
2016
|
|
2015
|
||||
Income tax provision
|
$
|
7,809,768
|
|
|
$
|
3,378,205
|
|
Discontinued operations
|
(66,077
|
)
|
|
(200,759
|
)
|
||
Total
|
$
|
7,743,691
|
|
|
$
|
3,177,446
|
|
|
2016
|
|
2015
|
||||
Deferred tax assets
|
|
|
|
||||
Accrued vacation
|
$
|
146,215
|
|
|
$
|
161,796
|
|
Acquisition costs capitalized
|
98,484
|
|
|
104,961
|
|
||
Accrued remediation costs
|
80,100
|
|
|
91,522
|
|
||
Accrued payables
|
122,235
|
|
|
226,795
|
|
||
Accrued workers’ compensation
|
127,033
|
|
|
182,258
|
|
||
Capitalized bidding costs
|
8,846
|
|
|
8,510
|
|
||
Inventory adjustments
|
133,991
|
|
|
159,324
|
|
||
Accrued lease expense
|
32,683
|
|
|
36,462
|
|
||
Accrued contract losses
|
89
|
|
|
24,581
|
|
||
Other
|
5,214
|
|
|
3,449
|
|
||
Total deferred tax assets
|
754,890
|
|
|
999,658
|
|
||
Deferred tax liabilities
|
|
|
|
||||
Deferred gain on installment notes
|
—
|
|
|
(11,034
|
)
|
||
Tax amortization in excess of financial statement amortization
|
(12,156
|
)
|
|
(8,809
|
)
|
||
Tax depreciation in excess of financial statement depreciation
|
(8,947,058
|
)
|
|
(8,535,062
|
)
|
||
Total deferred tax liabilities
|
(8,959,214
|
)
|
|
(8,554,905
|
)
|
||
Total net deferred tax liabilities
|
$
|
(8,204,324
|
)
|
|
$
|
(7,555,247
|
)
|
|
2016
|
|
2015
|
||||
Balance as of January 1
|
$
|
4,723
|
|
|
$
|
10,998
|
|
Increase from current year tax positions
|
—
|
|
|
800
|
|
||
Decrease from settlements with taxing authority
|
—
|
|
|
(7,075
|
)
|
||
Balance as of December 31
|
$
|
4,723
|
|
|
$
|
4,723
|
|
|
Estimated useful lives in years
|
|
2016
|
|
2015
|
||||
Land
|
—
|
|
$
|
371,228
|
|
|
$
|
371,228
|
|
Land improvements
|
7 - 15
|
|
470,754
|
|
|
405,195
|
|
||
Buildings and improvements
|
5 - 40
|
|
2,155,578
|
|
|
2,104,320
|
|
||
Leasehold improvements
|
7 - 39
|
|
252,646
|
|
|
252,646
|
|
||
Machinery and equipment
|
2 - 10
|
|
62,955,883
|
|
|
60,185,730
|
|
||
Construction in progress
|
—
|
|
180,072
|
|
|
5,966
|
|
||
Total
|
|
|
66,386,161
|
|
|
63,325,085
|
|
||
Less accumulated depreciation
|
|
|
33,140,214
|
|
|
28,653,138
|
|
||
Net properties, buildings and equipment
|
|
|
$
|
33,245,947
|
|
|
$
|
34,671,947
|
|
|
Lending Institution
|
|
Maturity Date
|
|
2016
|
|
2015
|
|
Interest Rates
|
||||||||
|
|
|
|
|
2016
|
|
2015
|
||||||||||
Working Capital Loan
|
Branch Banking and Trust Company
|
|
November 28, 2019
|
|
$
|
3,950,000
|
|
|
$
|
1,500,000
|
|
|
2.44
|
%
|
|
2.06
|
%
|
$10.0 Million Equipment Loan
|
Branch Banking and Trust Company
|
|
July 28, 2020
|
|
7,579,630
|
|
|
10,000,000
|
|
|
2.81
|
%
|
|
2.44
|
%
|
||
$17.0 Million Equipment Loan
|
Branch Banking and Trust Company
|
|
March 6, 2020
|
|
9,601,000
|
|
|
13,027,392
|
|
|
2.50
|
%
|
|
2.13
|
%
|
||
$2.0 Million Equipment Loan
|
Branch Banking and Trust Company
|
|
March 6, 2020
|
|
1,256,625
|
|
|
2,000,000
|
|
|
2.50
|
%
|
|
2.13
|
%
|
||
Total notes payable
|
|
|
|
|
22,387,255
|
|
|
26,527,392
|
|
|
|
|
|
||||
Less unamortized debt issuance costs
|
|
54,027
|
|
|
55,480
|
|
|
|
|
|
|||||||
Total notes payable, net
|
|
22,333,228
|
|
|
26,471,912
|
|
|
|
|
|
|||||||
Less current portion of notes payable, net
|
|
6,101,855
|
|
|
5,815,510
|
|
|
|
|
|
|||||||
Notes payable net, less current portion
|
|
$
|
16,231,373
|
|
|
$
|
20,656,402
|
|
|
|
|
|
2017
|
$
|
6,124,222
|
|
2018
|
6,124,222
|
|
|
2019
|
9,225,847
|
|
|
2020
|
912,964
|
|
|
Total payments of debt
|
$
|
22,387,255
|
|
2017
|
|
|
$
|
4,710,941
|
|
2018
|
|
|
4,623,641
|
|
|
2019
|
|
|
3,558,718
|
|
|
2020
|
|
|
828,355
|
|
|
Total minimum operating lease payments
|
|
|
$
|
13,721,655
|
|
|
|
Certified Zone Status
|
|
|
|
||
Plan Name:
|
EIN Number
|
Plan Number
|
2016
|
2015
|
FIP Implemented
|
Surcharge Imposed
|
Expiration Date of Collective Bargaining Agreement
|
National Electrical Benefit Fund
|
53-0181657
|
001
|
Green
|
Green
|
Not applicable (green-zone plan)
|
Not applicable (green-zone plan)
|
August 31, 2017
|
|
2016
|
|
2015
|
||||||||
|
Amount
|
|
% of Total revenue
|
|
Amount
|
|
% of Total revenue
|
||||
Electrical construction operations
|
|
|
|
|
|
|
|
||||
Customer A
|
$
|
23,669
|
|
|
18
|
|
$
|
22,518
|
|
|
19
|
Customer B
|
18,630
|
|
|
14
|
|
16,093
|
|
|
13
|
||
Customer C
|
33,770
|
|
|
26
|
|
36,753
|
|
|
30
|
|
|
|
December 31, 2016
|
|
December 31, 2015
|
||||||||||||||||||||
|
Useful Life
(Years) |
|
Gross Carrying Amount
|
|
Accumulated Amortization
|
|
Net Carrying Amount
|
|
Gross Carrying Amount
|
|
Accumulated Amortization
|
|
Net Carrying Amount
|
||||||||||||
Indefinite-lived and non-amortizable acquired intangible assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Goodwill
|
Indefinite
|
|
$
|
101,407
|
|
|
$
|
—
|
|
|
$
|
101,407
|
|
|
$
|
101,407
|
|
|
$
|
—
|
|
|
$
|
101,407
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Definite-lived and amortizable acquired intangible assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Trademarks/Names
|
15
|
|
$
|
640,000
|
|
|
$
|
(128,002
|
)
|
|
$
|
511,998
|
|
|
$
|
640,000
|
|
|
$
|
(85,334
|
)
|
|
$
|
554,666
|
|
Customer relationships
|
20
|
|
350,000
|
|
|
(52,500
|
)
|
|
297,500
|
|
|
350,000
|
|
|
(35,000
|
)
|
|
315,000
|
|
||||||
Non-competition agreement
|
5
|
|
10,000
|
|
|
(7,332
|
)
|
|
2,668
|
|
|
10,000
|
|
|
(6,000
|
)
|
|
4,000
|
|
||||||
Other
|
1
|
|
13,800
|
|
|
(13,800
|
)
|
|
—
|
|
|
13,800
|
|
|
(13,800
|
)
|
|
—
|
|
||||||
Total intangible assets, net
|
|
$
|
1,013,800
|
|
|
$
|
(201,634
|
)
|
|
$
|
812,166
|
|
|
$
|
1,013,800
|
|
|
$
|
(140,134
|
)
|
|
$
|
873,666
|
|
Name and Title
|
Year in which
service began
as officer
|
|
Age
(1)
|
John H. Sottile
Chairman of the Board, President and Chief Executive Officer, Director
|
1983
|
|
69
|
Stephen R. Wherry
Senior Vice President, Chief Financial Officer, Treasurer, and Assistant Secretary
|
1988
|
|
58
|
R. Gregory Crutchfield
President, Power Corporation of America and Southeast Power Corporation
|
2016
|
|
57
|
(1)
|
As of
February 28, 2017
|
Item 15.
|
Exhibits, Financial Statement Schedules.
|
|
Page
|
|
|
|
|
|
|
|
|
|
|
3-1
|
|
Restated Certificate of Incorporation of the Company, as amended, is hereby incorporated by reference to Exhibit 3-1 of the Company’s Annual Report on Form 10-K for the year ended December 31, 1987, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
3-2
|
|
Amended and Restated By-Laws of the Company are hereby incorporated by reference to Exhibit 3-1 of the Company’s Current Report on Form 8-K dated December 11, 2007, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
4-1
|
|
Specimen copy of Company’s Common Stock certificate is hereby incorporated by reference to Exhibit 4-5 of the Company’s Annual Report on Form 10-K for the year ended December 31, 1987, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
+10-1
|
|
Amended and Restated Employment Agreement dated November 1, 2001 between The Goldfield Corporation and John H. Sottile is hereby incorporated by reference to Exhibit 10-2(g) of the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2001, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
+10-1(a)
|
|
Letter dated January 23, 2009 from John H. Sottile to the Board of Directors of The Goldfield Corporation, is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated March 10, 2009, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
+10-1(b)
|
|
Letter dated March 18, 2010 from John H. Sottile to the Benefits and Compensation Committee of the Board of Directors of The Goldfield Corporation, is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated March 18, 2010, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
+10-1(c)
|
|
Amendment to John H. Sottile Employment Agreement, dated April 15, 2010, between John H. Sottile and The Goldfield Corporation, is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated April 15, 2010, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
+10-1(d)
|
|
Amendment to John H. Sottile Employment Agreement, dated March 22, 2011, between John H. Sottile and The Goldfield Corporation, is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated March 17, 2011, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
+10-1(e)
|
|
Amendment to John H. Sottile Employment Agreement, dated July 12, 2011, between John H. Sottile and The Goldfield Corporation, is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated July 12, 2011, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
+10-1(f)
|
|
Amendment to John H. Sottile Employment Agreement, dated September 28, 2011, between John H. Sottile and The Goldfield Corporation, is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated September 28, 2011, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
+10-1(g)
|
|
Letter dated March 15, 2012 from John H. Sottile to the Benefits and Compensation Committee of the Board of Directors of The Goldfield Corporation, is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated March 15, 2012, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
+10-2
|
|
Form of Indemnification Agreement is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated July 15, 2005, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
+10-2(a)
|
|
Form of Indemnification Agreement is hereby incorporated by reference to Item 1.01 of the Company’s Current Report on Form 8-K dated December 5, 2014, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
+10-3
|
|
Amended and Restated Performance-Based Bonus Plan effective January 1, 2016 is hereby incorporated by reference to the Company’s 2016 Proxy Statement, heretofore filed with the Commission on April 27, 2016 (file No. 1-7525).
|
|
|
|
+10-4
|
|
The Goldfield Corporation 2013 Long-Term Incentive Plan is hereby incorporated by reference to the Company’s 2013 Proxy Statement, heretofore filed with the Commission on April 29, 2013 (file No. 1-7525).
|
|
|
|
10-5
|
|
Loan Agreement, dated August 26, 2005, among The Goldfield Corporation, Southeast Power Corporation, Bayswater Development Corporation, Pineapple House of Brevard, Inc. and Oak Park of Brevard, Inc. and Branch Banking and Trust Company relating to Loans of up to $1.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated August 26, 2005, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(a)
|
|
Revolving Line of Credit Promissory Note of The Goldfield Corporation relating to Loans of up to $1.0 million is hereby incorporated by reference to Exhibit 10-4 of the Company’s Current Report on Form 8-K dated August 26, 2005, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(b)
|
|
Amendment to Loan Agreement, dated March 14, 2006, among The Goldfield Corporation, Southeast Power Corporation, Bayswater Development Corporation, Pineapple House of Brevard, Inc. and Oak Park of Brevard, Inc. and Branch Banking and Trust Company relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated July 15, 2005, heretofore filed with the Commission on March 20, 2006 (file No. 1-7525).
|
|
|
|
10-5(c)
|
|
Renewal Revolving Line of Credit Promissory Note of The Goldfield Corporation relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated July 15, 2005, heretofore filed with the Commission on March 20, 2006 (file No.1-7525).
|
|
|
|
10-5(d)
|
|
Guaranty Agreement is hereby incorporated by reference to Exhibit 10-3 of the Company’s Current Report on Form 8-K dated July 15, 2005, heretofore filed with the Commission on March 20, 2006 (file No. 1-7525).
|
|
|
|
10-5(e)
|
|
Renewal Revolving Line of Credit Promissory Note of The Goldfield Corporation relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated September 28, 2006, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(f)
|
|
Allonge to Promissory Note of The Goldfield Corporation relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated September 27, 2007, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(g)
|
|
Renewal Revolving Line of Credit Promissory Note (Allonge to promissory note) of The Goldfield Corporation relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated November 25, 2008, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(h)
|
|
Extension of Revolving Line of Credit Promissory Note of The Goldfield Corporation relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated November 27, 2009, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(i)
|
|
Note Modification Agreement of Revolving Line of Credit Promissory Note of The Goldfield Corporation relating to Loans of up to $3.0 million and Addendum to Promissory Note is hereby incorporated by reference to Exhibit 10-6 of the Company’s Current Report on Form 8-K dated December 29, 2009, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(j)
|
|
Amendment to Loan Agreement, dated March 25, 2010, among The Goldfield Corporation, Southeast Power Corporation, Bayswater Development Corporation, Pineapple House of Brevard, Inc. and Oak Park of Brevard, Inc. and Branch Banking and Trust Company relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-5 of the Company’s Current Report on Form 10-K for the period ended December 31, 2009, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(k)
|
|
Extension of Revolving Line of Credit Promissory Note of The Goldfield Corporation relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated December 22, 2010 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(l)
|
|
Note Modification Agreement of Revolving Line of Credit Promissory Note of The Goldfield Corporation relating to Loans of up to $3.0 million dated February 22, 2011, is hereby incorporated by reference to Exhibit 10-6 of the Company’s Current Report on Form 8-K dated February 22, 2011, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(m)
|
|
Addendum to Note Modification Agreement dated February 22, 2011 among The Goldfield Corporation, and Branch Banking and Trust Company relating to Loans of up to $3.0 million, is hereby incorporated by reference to Exhibit 10-7 of the Company’s Current Report on Form 8-K dated February 22, 2011, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(n)
|
|
Loan Agreement, dated February 22, 2011, among The Goldfield Corporation, Southeast Power Corporation, Pineapple House of Brevard, Inc. and Branch Banking and Trust Company relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-8 of the Company’s Current Report on Form 8-K dated February 22, 2011, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(o)
|
|
Security Agreement, dated February 22, 2011, between Southeast Power Corporation and Branch Banking and Trust Company is hereby incorporated by reference to Exhibit 10-9 of the Company’s Current Report on Form 8-K dated February 22, 2011, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(p)
|
|
Guaranty Agreement, dated February 22, 2011, between Southeast Power, Pineapple House of Brevard, Inc., Bayswater Development Corporation and Branch Banking and Trust Company is hereby incorporated by reference to Exhibit 10-10 of the Company’s Current Report on Form 8-K dated February 22, 2011, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(q)
|
|
Release of Guarantor Oak Park of Brevard, Inc. relating to Loans of up to $ 3.0 million is hereby incorporated by reference to Exhibit 10-11 of the Company’s Current Report on Form 8-K dated February 22, 2011 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(r)
|
|
Confirmation Letter of Modification to Loan Agreement, dated November 8, 2011, relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2011, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(s)
|
|
Renewal Promissory Note, dated January 4, 2012, of Revolving Line of Credit Promissory Note of The Goldfield Corporation relating to loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated January 3, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(t)
|
|
Addendum to Renewal Promissory Note, dated January 4, 2012, of The Goldfield Corporation relating to loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated January 3, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(u)
|
|
Loan Agreement, dated January 4, 2012, of The Goldfield Corporation relating to loans of up to $3.0 million, is hereby incorporated by reference to Exhibit 10-3 of the Company’s Current Report on Form 8-K dated January 3, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(v)
|
|
Modification of Security Agreement, dated January 4, 2012, between Southeast Power Corporation and Branch Banking and Trust Company, relating to loans of up to $3.0 million, is hereby incorporated by reference to Exhibit 10-4 of the Company’s Current Report on Form 8-K dated January 3, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(w)
|
|
Guaranty Agreement, dated January 4, 2012, between Southeast Power Corporation, Pineapple House of Brevard, Inc., Bayswater Development Corporation and Branch Banking and Trust Company relating to loans of up to $3.0 million, is hereby incorporated by reference to Exhibit 10-5 of the Company’s Current Report on Form 8-K dated January 3, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(x)
|
|
Modification of Security Agreement, dated January 4, 2012, between Southeast Power Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $3.0 million is hereby incorporated by reference to Exhibit 10-6 of the Company’s Current Report on Form 8-K dated January 3, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(y)
|
|
Renewal and Additional Advance Promissory Note dated April 17, 2012, between Southeast Power Corporation, Bayswater and Pineapple House Inc. and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $5.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated April 17, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(z)
|
|
Addendum To Renewal and Additional Advance Promissory Note, dated April 17, 2012, of The Goldfield Corporation relating to loans of up to $5.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated April 17, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(aa)
|
|
Loan Agreement, dated April 17, 2012, of the Goldfield Corporation, relating to loans of up to $5.0 million is hereby incorporated by reference to Exhibit 10-3 of the Company’s Current Report on Form 8-K dated April 17, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(bb)
|
|
Modification of Security Agreement, dated April 17, 2012, between Southeast Power Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $5.0 million is hereby incorporated by reference to Exhibit 10-4 of the Company’s Current Report on Form 8-K dated April 17, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(cc)
|
|
Guaranty Agreement, dated April 17, 2012, between Southeast Power Corporation, Pineapple House of Brevard, Inc., Bayswater Development Corporation and Branch Banking and Trust Company relating to loans of up to $5.0 million, is hereby incorporated by reference to Exhibit 10-6 of the Company’s Current Report on Form 8-K dated April 17, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(dd)
|
|
Modification of Security Agreement, dated April 17, 2012, between Southeast Power Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $5.0 million is hereby incorporated by reference to Exhibit 10-5 of the Company’s Current Report on Form 8-K dated April 17, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(ee)
|
|
Letter from Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $5.0 million to Waive Outside Debt Limitation of $500,000, dated July 16, 2012, for Loan Installment Agreement is hereby incorporated by reference to Exhibit 10-4 of the Company’s Current Report on Form 8-K dated July 16, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(ff)
|
|
Addendum to Loan Agreement, dated July 16, 2012, between Branch Banking and Trust Company and The Goldfield Corporation relating to loans to The Goldfield Corporation of up to $5.0 million is hereby incorporated by reference to Exhibit 10-5 of the Company’s Current Report on Form 8-K dated July 16, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(gg)
|
|
Addendum to Loan Agreement, dated September 17, 2012, between Branch Banking and Trust Company and The Goldfield Corporation relating to loans to The Goldfield Corporation of up to $5.0 million is hereby incorporated by reference to Exhibit 10-6 of the Company’s Current Report on Form 8-K dated September 17, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(hh)
|
|
Renewal Promissory Note, dated January 15, 2013, of The Goldfield Corporation relating to loans of up to $5.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated January 15, 2013 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(ii)
|
|
Addendum To Renewal and Promissory Note, dated January 15, 2013, of The Goldfield Corporation relating to loans of up to $5.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated January 15, 2013 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(jj)
|
|
Loan Agreement, dated January 15, 2013, of the Goldfield Corporation, relating to loans of up to $5.0 million is hereby incorporated by reference to Exhibit 10-3 of the Company’s Current Report on Form 8-K dated January 15, 2013 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(kk)
|
|
Guaranty Agreement, dated January 15, 2013, between Southeast Power Corporation, Pineapple House of Brevard, Inc., Bayswater Development Corporation and Branch Banking and Trust Company relating to loans of up to $5.0 million, is hereby incorporated by reference to Exhibit 10-4 of the Company’s Current Report on Form 8-K dated January 15, 2013 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(ll)
|
|
Modification Promissory Note, dated December 16, 2013, between The Goldfield Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $15.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated December 16, 2013, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(mm)
|
|
Addendum to Modification Promissory Note, dated December 16, 2013, between The Goldfield Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $15.0 million is hereby incorporated by reference to Exhibit 10-3 of the Company’s Current Report on Form 8-K dated December 16, 2013, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(nn)
|
|
Security Agreement, dated December 16, 2013, between Southeast Power Corporation, Power Corporation of America, Bayswater Development Corporation, Pineapple House of Brevard, Inc., and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $15.0 million is hereby incorporated by reference to Exhibit 10-4 of the Company’s Current Report on Form 8-K dated December 16, 2013, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(oo)
|
|
Guaranty Agreement, dated December 16, 2013, between Southeast Power Corporation, Pineapple House of Brevard, Inc., Bayswater Development Corporation, Power Corporation of America and Branch Banking and Trust Company relating to loans of up to $15.0 million, is hereby incorporated by reference to Exhibit 10-5 of the Company’s Current Report on Form 8-K dated December 16, 2013, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(pp)
|
|
Modification Promissory Note, dated September 4, 2015, between The Goldfield Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $15.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated September 8, 2015, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(qq)
|
|
Addendum to Modification Promissory Note, dated September 4, 2015, between The Goldfield Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $15.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated September 8, 2015, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(rr)
|
|
Modification Promissory Note, dated June 15, 2016, between The Goldfield Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $15.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated June 16, 2016, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(ss)
|
|
Addendum to Modification Promissory Note, dated June 15, 2016, between The Goldfield Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $15.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated June 16, 2016, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(tt)
|
|
Modification Promissory Note, dated November 1, 2016, between The Goldfield Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $18.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated November 1, 2016, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(uu)
|
|
Addendum to Modification Promissory Note, dated November 1, 2016, between The Goldfield Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $18.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated November 1, 2016 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-6
|
|
Collateral Trust Agreement between The Goldfield Corporation, Valley Forge Insurance Company Branch Banking and Trust Company is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated October 25, 2010, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-7
|
|
Promissory Note of The Goldfield Corporation, dated January 31, 2014, relating to Loans of up to $10.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated January 31, 2014, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-7(a)
|
|
Addendum to Promissory Note, dated January 31, 2014, among The Goldfield Corporation, and Branch Banking and Trust Company relating to Loans of up to $10.0 million is hereby incorporated by reference to Exhibit 10-3 of the Company’s Current Report on Form 8-K dated January 31, 2014, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-7(b)
|
|
Security Agreement, dated January 31, 2014, among The Goldfield Corporation, Power Corporation of America, Bayswater Development Corporation and Pineapple House of Brevard, C and C Power Line, Inc., and Branch Banking and Trust Company relating to Loans of up to $10.0 million is hereby incorporated by reference to Exhibit 10-4 of the Company’s Current Report on Form 8-K dated January 31, 2014, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-7(c)
|
|
Guaranty Agreement, dated January 31, 2014, among The Goldfield Corporation, and Branch Banking and Trust Company relating to Loans of up to $10.0 million is hereby incorporated by reference to Exhibit 10-5 of the Company’s Current Report on Form 8-K dated January 31, 2014, heretofore filed with the Commission (file No. 1-7525).
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*23
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Consent of Independent Registered Public Accounting Firm
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*24
|
|
Powers of Attorney
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*31-1
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Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, 15 U.S.C. Section 7241
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*31-2
|
|
Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, 15 U.S.C. Section 7241
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*32-1
|
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**Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350
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*32-2
|
|
**Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350
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101.INS
|
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XBRL Instance Document
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|
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101.SCH
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|
XBRL Schema Document
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|
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101.CAL
|
|
XBRL Calculation Linkbase Document
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101.DEF
|
|
XBRL Definition Linkbase Document
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101.LAB
|
|
XBRL Label Linkbase Document
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101.PRE
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|
XBRL Presentation Linkbase Document
|
*
|
Filed herewith.
|
**
|
These exhibits are furnished in accordance with Regulation S-K Item 601(b)(32) and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liability of that section. These exhibits shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that the registrant specifically incorporates them by reference.
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+
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Management contract, compensatory plan or arrangement.
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By:
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/s/ JOHN H. SOTTILE
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(John H. Sottile)
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Chairman of the Board, President and Chief Executive Officer (Principal Executive Officer)
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Signature
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Title
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/s/ JOHN H. SOTTILE
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Chairman of the Board, President and Chief Executive Officer (Principal Executive Officer)
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(John H. Sottile)
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/s/ STEPHEN R. WHERRY
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Senior Vice President, Chief Financial Officer, Treasurer and Assistant Secretary (Principal Financial and Accounting Officer)
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(Stephen R. Wherry)
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*
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Director
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(David P. Bicks)
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*
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Director
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(Harvey C. Eads, Jr.)
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*
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Director
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(John P. Fazzini)
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*
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Director
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(Danforth E. Leitner)
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*By:
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/s/ JOHN H. SOTTILE
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|
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John H. Sottile
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Attorney-in-Fact
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Exhibit
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Description of Exhibit
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3-1
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|
Restated Certificate of Incorporation of the Company, as amended, is hereby incorporated by reference to Exhibit 3-1 of the Company’s Annual Report on Form 10-K for the year ended December 31, 1987, heretofore filed with the Commission (file No. 1-7525).
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|
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3-2
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Amended and Restated By-Laws of the Company are hereby incorporated by reference to Exhibit 3-1 of the Company’s Current Report on Form 8-K dated December 11, 2007, heretofore filed with the Commission (file No. 1-7525).
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4-1
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Specimen copy of Company’s Common Stock certificate is hereby incorporated by reference to Exhibit 4-5 of the Company’s Annual Report on Form 10-K for the year ended December 31, 1987, heretofore filed with the Commission (file No. 1-7525).
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|
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+10-1
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|
Amended and Restated Employment Agreement dated November 1, 2001 between The Goldfield Corporation and John H. Sottile is hereby incorporated by reference to Exhibit 10-2(g) of the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2001, heretofore filed with the Commission (file No. 1-7525).
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|
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+10-1(a)
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|
Letter dated January 23, 2009 from John H. Sottile to the Board of Directors of The Goldfield Corporation, is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated March 10, 2009, heretofore filed with the Commission (file No. 1-7525).
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|
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+10-1(b)
|
|
Letter dated March 18, 2010 from John H. Sottile to the Benefits and Compensation Committee of the Board of Directors of The Goldfield Corporation, is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated March 18, 2010, heretofore filed with the Commission (file No. 1-7525).
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|
|
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+10-1(c)
|
|
Amendment to John H. Sottile Employment Agreement, dated April 15, 2010, between John H. Sottile and The Goldfield Corporation, is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated April 15, 2010, heretofore filed with the Commission (file No. 1-7525).
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|
|
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+10-1(d)
|
|
Amendment to John H. Sottile Employment Agreement, dated March 22, 2011, between John H. Sottile and The Goldfield Corporation, is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated March 17, 2011, heretofore filed with the Commission (file No. 1-7525).
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|
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+10-1(e)
|
|
Amendment to John H. Sottile Employment Agreement, dated July 12, 2011, between John H. Sottile and The Goldfield Corporation, is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated July 12, 2011, heretofore filed with the Commission (file No. 1-7525).
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|
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+10-1(f)
|
|
Amendment to John H. Sottile Employment Agreement, dated September 28, 2011, between John H. Sottile and The Goldfield Corporation, is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated September 28, 2011, heretofore filed with the Commission (file No. 1-7525).
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|
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+10-1(g)
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|
Letter dated March 15, 2012 from John H. Sottile to the Benefits and Compensation Committee of the Board of Directors of The Goldfield Corporation, is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated March 15, 2012, heretofore filed with the Commission (file No. 1-7525).
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|
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+10-2
|
|
Form of Indemnification Agreement is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated July 15, 2005, heretofore filed with the Commission (file No. 1-7525).
|
|
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+10-2(a)
|
|
Form of Indemnification Agreement is hereby incorporated by reference to Item 1.01 of the Company’s Current Report on Form 8-K dated December 5, 2014, heretofore filed with the Commission (file No. 1-7525).
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|
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+10-3
|
|
Amended and Restated Performance-Based Bonus Plan effective January 1, 2016 is hereby incorporated by reference to the Company’s 2016 Proxy Statement, heretofore filed with the Commission on April 27, 2016 (file No. 1-7525).
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|
|
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+10-4
|
|
The Goldfield Corporation 2013 Long-Term Incentive Plan is hereby incorporated by reference to the Company’s 2013 Proxy Statement, heretofore filed with the Commission on April 29, 2013 (file No. 1-7525).
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|
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|
10-5
|
|
Loan Agreement, dated August 26, 2005, among The Goldfield Corporation, Southeast Power Corporation, Bayswater Development Corporation, Pineapple House of Brevard, Inc. and Oak Park of Brevard, Inc. and Branch Banking and Trust Company relating to Loans of up to $1.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated August 26, 2005, heretofore filed with the Commission (file No. 1-7525).
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|
|
|
10-5(a)
|
|
Revolving Line of Credit Promissory Note of The Goldfield Corporation relating to Loans of up to $1.0 million is hereby incorporated by reference to Exhibit 10-4 of the Company’s Current Report on Form 8-K dated August 26, 2005, heretofore filed with the Commission (file No. 1-7525).
|
Exhibit
|
|
Description of Exhibit
|
|
|
|
10-5(b)
|
|
Amendment to Loan Agreement, dated March 14, 2006, among The Goldfield Corporation, Southeast Power Corporation, Bayswater Development Corporation, Pineapple House of Brevard, Inc. and Oak Park of Brevard, Inc. and Branch Banking and Trust Company relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated July 15, 2005, heretofore filed with the Commission on March 20, 2006 (file No. 1-7525).
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|
|
|
10-5(c)
|
|
Renewal Revolving Line of Credit Promissory Note of The Goldfield Corporation relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated July 15, 2005, heretofore filed with the Commission on March 20, 2006 (file No.1-7525).
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|
|
|
10-5(d)
|
|
Guaranty Agreement is hereby incorporated by reference to Exhibit 10-3 of the Company’s Current Report on Form 8-K dated July 15, 2005, heretofore filed with the Commission on March 20, 2006 (file No. 1-7525).
|
|
|
|
10-5(e)
|
|
Renewal Revolving Line of Credit Promissory Note of The Goldfield Corporation relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated September 28, 2006, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(f)
|
|
Allonge to Promissory Note of The Goldfield Corporation relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated September 27, 2007, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(g)
|
|
Renewal Revolving Line of Credit Promissory Note (Allonge to promissory note) of The Goldfield Corporation relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated November 25, 2008, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(h)
|
|
Extension of Revolving Line of Credit Promissory Note of The Goldfield Corporation relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated November 27, 2009, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(i)
|
|
Note Modification Agreement of Revolving Line of Credit Promissory Note of The Goldfield Corporation relating to Loans of up to $3.0 million and Addendum to Promissory Note is hereby incorporated by reference to Exhibit 10-6 of the Company’s Current Report on Form 8-K dated December 29, 2009, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(j)
|
|
Amendment to Loan Agreement, dated March 25, 2010, among The Goldfield Corporation, Southeast Power Corporation, Bayswater Development Corporation, Pineapple House of Brevard, Inc. and Oak Park of Brevard, Inc. and Branch Banking and Trust Company relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-5 of the Company’s Current Report on Form 10-K for the period ended December 31, 2009, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(k)
|
|
Extension of Revolving Line of Credit Promissory Note of The Goldfield Corporation relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated December 22, 2010 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(l)
|
|
Note Modification Agreement of Revolving Line of Credit Promissory Note of The Goldfield Corporation relating to Loans of up to $3.0 million dated February 22, 2011, is hereby incorporated by reference to Exhibit 10-6 of the Company’s Current Report on Form 8-K dated February 22, 2011, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(m)
|
|
Addendum to Note Modification Agreement dated February 22, 2011 among The Goldfield Corporation, and Branch Banking and Trust Company relating to Loans of up to $3.0 million, is hereby incorporated by reference to Exhibit 10-7 of the Company’s Current Report on Form 8-K dated February 22, 2011, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(n)
|
|
Loan Agreement, dated February 22, 2011, among The Goldfield Corporation, Southeast Power Corporation, Pineapple House of Brevard, Inc. and Branch Banking and Trust Company relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-8 of the Company’s Current Report on Form 8-K dated February 22, 2011, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(o)
|
|
Security Agreement, dated February 22, 2011, between Southeast Power Corporation and Branch Banking and Trust Company is hereby incorporated by reference to Exhibit 10-9 of the Company’s Current Report on Form 8-K dated February 22, 2011, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
Exhibit
|
|
Description of Exhibit
|
10-5(p)
|
|
Guaranty Agreement, dated February 22, 2011, between Southeast Power, Pineapple House of Brevard, Inc., Bayswater Development Corporation and Branch Banking and Trust Company is hereby incorporated by reference to Exhibit 10-10 of the Company’s Current Report on Form 8-K dated February 22, 2011, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(q)
|
|
Release of Guarantor Oak Park of Brevard, Inc. relating to Loans of up to $ 3.0 million is hereby incorporated by reference to Exhibit 10-11 of the Company’s Current Report on Form 8-K dated February 22, 2011 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(r)
|
|
Confirmation Letter of Modification to Loan Agreement, dated November 8, 2011, relating to Loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2011, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(s)
|
|
Renewal Promissory Note, dated January 4, 2012, of Revolving Line of Credit Promissory Note of The Goldfield Corporation relating to loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated January 3, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(t)
|
|
Addendum to Renewal Promissory Note, dated January 4, 2012, of The Goldfield Corporation relating to loans of up to $3.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated January 3, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(u)
|
|
Loan Agreement, dated January 4, 2012, of The Goldfield Corporation relating to loans of up to $3.0 million, is hereby incorporated by reference to Exhibit 10-3 of the Company’s Current Report on Form 8-K dated January 3, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(v)
|
|
Modification of Security Agreement, dated January 4, 2012, between Southeast Power Corporation and Branch Banking and Trust Company, relating to loans of up to $3.0 million, is hereby incorporated by reference to Exhibit 10-4 of the Company’s Current Report on Form 8-K dated January 3, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(w)
|
|
Guaranty Agreement, dated January 4, 2012, between Southeast Power Corporation, Pineapple House of Brevard, Inc., Bayswater Development Corporation and Branch Banking and Trust Company relating to loans of up to $3.0 million, is hereby incorporated by reference to Exhibit 10-5 of the Company’s Current Report on Form 8-K dated January 3, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(x)
|
|
Modification of Security Agreement, dated January 4, 2012, between Southeast Power Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $3.0 million is hereby incorporated by reference to Exhibit 10-6 of the Company’s Current Report on Form 8-K dated January 3, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(y)
|
|
Renewal and Additional Advance Promissory Note dated April 17, 2012, between Southeast Power Corporation, Bayswater and Pineapple House Inc. and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $5.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated April 17, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(z)
|
|
Addendum To Renewal and Additional Advance Promissory Note, dated April 17, 2012, of The Goldfield Corporation relating to loans of up to $5.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated April 17, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(aa)
|
|
Loan Agreement, dated April 17, 2012, of the Goldfield Corporation, relating to loans of up to $5.0 million is hereby incorporated by reference to Exhibit 10-3 of the Company’s Current Report on Form 8-K dated April 17, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(bb)
|
|
Modification of Security Agreement, dated April 17, 2012, between Southeast Power Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $5.0 million is hereby incorporated by reference to Exhibit 10-4 of the Company’s Current Report on Form 8-K dated April 17, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(cc)
|
|
Guaranty Agreement, dated April 17, 2012, between Southeast Power Corporation, Pineapple House of Brevard, Inc., Bayswater Development Corporation and Branch Banking and Trust Company relating to loans of up to $5.0 million, is hereby incorporated by reference to Exhibit 10-6 of the Company’s Current Report on Form 8-K dated April 17, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
Exhibit
|
|
Description of Exhibit
|
10-5(dd)
|
|
Modification of Security Agreement, dated April 17, 2012, between Southeast Power Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $5.0 million is hereby incorporated by reference to Exhibit 10-5 of the Company’s Current Report on Form 8-K dated April 17, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(ee)
|
|
Letter from Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $5.0 million to Waive Outside Debt Limitation of $500,000, dated July 16, 2012, for Loan Installment Agreement is hereby incorporated by reference to Exhibit 10-4 of the Company’s Current Report on Form 8-K dated July 16, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(ff)
|
|
Addendum to Loan Agreement, dated July 16, 2012, between Branch Banking and Trust Company and The Goldfield Corporation relating to loans to The Goldfield Corporation of up to $5.0 million is hereby incorporated by reference to Exhibit 10-5 of the Company’s Current Report on Form 8-K dated July 16, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(gg)
|
|
Addendum to Loan Agreement, dated September 17, 2012, between Branch Banking and Trust Company and The Goldfield Corporation relating to loans to The Goldfield Corporation of up to $5.0 million is hereby incorporated by reference to Exhibit 10-6 of the Company’s Current Report on Form 8-K dated September 17, 2012 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(hh)
|
|
Renewal Promissory Note, dated January 15, 2013, of The Goldfield Corporation relating to loans of up to $5.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated January 15, 2013 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(ii)
|
|
Addendum To Renewal and Promissory Note, dated January 15, 2013, of The Goldfield Corporation relating to loans of up to $5.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated January 15, 2013 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(jj)
|
|
Loan Agreement, dated January 15, 2013, of the Goldfield Corporation, relating to loans of up to $5.0 million is hereby incorporated by reference to Exhibit 10-3 of the Company’s Current Report on Form 8-K dated January 15, 2013 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(kk)
|
|
Guaranty Agreement, dated January 15, 2013, between Southeast Power Corporation, Pineapple House of Brevard, Inc., Bayswater Development Corporation and Branch Banking and Trust Company relating to loans of up to $5.0 million, is hereby incorporated by reference to Exhibit 10-4 of the Company’s Current Report on Form 8-K dated January 15, 2013 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(ll)
|
|
Modification Promissory Note, dated December 16, 2013, between The Goldfield Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $15.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated December 16, 2013, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(mm)
|
|
Addendum to Modification Promissory Note, dated December 16, 2013, between The Goldfield Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $15.0 million is hereby incorporated by reference to Exhibit 10-3 of the Company’s Current Report on Form 8-K dated December 16, 2013, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(nn)
|
|
Security Agreement, dated December 16, 2013, between Southeast Power Corporation, Power Corporation of America, Bayswater Development Corporation, Pineapple House of Brevard, Inc., and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $15.0 million is hereby incorporated by reference to Exhibit 10-4 of the Company’s Current Report on Form 8-K dated December 16, 2013, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(oo)
|
|
Guaranty Agreement, dated December 16, 2013, between Southeast Power Corporation, Pineapple House of Brevard, Inc., Bayswater Development Corporation, Power Corporation of America and Branch Banking and Trust Company relating to loans of up to $15.0 million, is hereby incorporated by reference to Exhibit 10-5 of the Company’s Current Report on Form 8-K dated December 16, 2013, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(pp)
|
|
Modification Promissory Note, dated September 4, 2015, between The Goldfield Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $15.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated September 8, 2015, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
Exhibit
|
|
Description of Exhibit
|
10-5(qq)
|
|
Addendum to Modification Promissory Note, dated September 4, 2015, between The Goldfield Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $15.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated September 8, 2015, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(rr)
|
|
Modification Promissory Note, dated June 15, 2016, between The Goldfield Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $15.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated June 16, 2016, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(ss)
|
|
Addendum to Modification Promissory Note, dated June 15, 2016, between The Goldfield Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $15.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated June 16, 2016, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(tt)
|
|
Modification Promissory Note, dated November 1, 2016, between The Goldfield Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $18.0 million is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated November 1, 2016, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-5(uu)
|
|
Addendum to Modification Promissory Note, dated November 1, 2016, between The Goldfield Corporation and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $18.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated November 1, 2016 heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-6
|
|
Collateral Trust Agreement between The Goldfield Corporation, Valley Forge Insurance Company Branch Banking and Trust Company is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated October 25, 2010, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-7
|
|
Promissory Note of The Goldfield Corporation, dated January 31, 2014, relating to Loans of up to $10.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated January 31, 2014, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-7(a)
|
|
Addendum to Promissory Note, dated January 31, 2014, among The Goldfield Corporation, and Branch Banking and Trust Company relating to Loans of up to $10.0 million is hereby incorporated by reference to Exhibit 10-3 of the Company’s Current Report on Form 8-K dated January 31, 2014, heretofore filed with the Commission (file No. 1-7525).
|
|
|
|
10-7(b)
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Security Agreement, dated January 31, 2014, among The Goldfield Corporation, Power Corporation of America, Bayswater Development Corporation and Pineapple House of Brevard, C and C Power Line, Inc., and Branch Banking and Trust Company relating to Loans of up to $10.0 million is hereby incorporated by reference to Exhibit 10-4 of the Company’s Current Report on Form 8-K dated January 31, 2014, heretofore filed with the Commission (file No. 1-7525).
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10-7(c)
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Guaranty Agreement, dated January 31, 2014, among The Goldfield Corporation, and Branch Banking and Trust Company relating to Loans of up to $10.0 million is hereby incorporated by reference to Exhibit 10-5 of the Company’s Current Report on Form 8-K dated January 31, 2014, heretofore filed with the Commission (file No. 1-7525).
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10-8
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The Lease Agreement dated June 7, 2004 between Hibiscus Office Park, LLC and The Goldfield Corporation is hereby incorporated by reference to Exhibit 10-1 of the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2004, heretofore filed with the Commission (file No. 1-7525).
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10-8(a)
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The First Amendment to the Lease Agreement signed October 7, 2011, effective November 1, 2011 between Hibiscus Office Park, LLC and The Goldfield Corporation is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated October 7, 2011, heretofore filed with the Commission (file No. 1-7525).
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10-8(b)
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The Second Amendment to the Lease Agreement signed July 29, 2013, effective November 1, 2013 between Hibiscus Office Park, LLC and The Goldfield Corporation is hereby incorporated by reference to Exhibit 10-1 of the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2013, heretofore filed with the Commission (file No. 1-7525).
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Exhibit
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Description of Exhibit
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10-9
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Master Lease Agreement dated March 31, 2014, among Power Corporation of America and Terex Master Trust relating to (4) 60 month lease schedules for specific use of equipment totaling $6.4 million in the aggregate over the 60-month term is hereby incorporated by reference to Item 2.03 of the Company’s Current Report on Form 8-K dated April 3, 2014, heretofore filed with the Commission (file No. 1-7525).
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10-10
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Master Loan Agreement, dated March 6, 2015, among The Goldfield Corporation, Power Corporation of America, Southeast Power Corporation, C and C Power Line Inc., Bayswater Development Corporation, Pineapple House of Brevard, Inc., and Branch Banking and Trust Company relating to all prior and new loans with Branch Banking and Trust Company as listed in Exhibit "A" of the loan document is hereby incorporated by reference to Exhibit 10-1 of the Company’s Current Report on Form 8-K dated March 6, 2015 heretofore filed with the Commission (file No. 1-7525).
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10-11
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Promissory Note of The Goldfield Corporation, dated March 6, 2015, relating to Loans of up to $17.0 million is hereby incorporated by reference to Exhibit 10-2 of the Company’s Current Report on Form 8-K dated March 6, 2015 heretofore filed with the Commission (file No. 1-7525).
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10-11(a)
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Addendum to Promissory Note dated March 6, 2015 among The Goldfield Corporation and Branch Banking and Trust Company relating to Loans of up to $17.0 million is hereby incorporated by reference to Exhibit 10-3 of the Company’s Current Report on Form 8-K dated March 6, 2015, heretofore filed with the Commission (file No. 1-7525).
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10-11(b)
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Security Agreement, dated March 6, 2015, between Southeast Power Corporation, Power Corporation of America, Bayswater Development Corporation, Pineapple House of Brevard, Inc., C and C Power Line, Inc., and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $17.0 million is hereby incorporated by reference to Exhibit 10-4 of the Company’s Current Report on Form 8-K dated March 6, 2015, heretofore filed with the Commission (file No. 1-7525).
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10-11(c)
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Guaranty Agreement, dated March 6, 2015, between Southeast Power Corporation, Power Corporation of America, Bayswater Development Corporation, Pineapple House of Brevard, Inc., C and C Power Line, Inc., and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $17.0 million is hereby incorporated by reference to Exhibit 10-5 of the Company’s Current Report on Form 8-K dated March 6, 2015, heretofore filed with the Commission (file No. 1-7525).
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10-12
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Promissory Note of The Goldfield Corporation, dated March 6, 2015, relating to Loans of up to $2.0 million is hereby incorporated by reference to Exhibit 10-6 of the Company’s Current Report on Form 8-K dated March 6, 2015 heretofore filed with the Commission (file No. 1-7525).
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10-12(a)
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Addendum to Promissory Note dated March 6, 2015 among The Goldfield Corporation and Branch Banking and Trust Company relating to Loans of up to $2.0 million is hereby incorporated by reference to Exhibit 10-7 of the Company’s Current Report on Form 8-K dated March 6, 2015, heretofore filed with the Commission (file No. 1-7525).
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10-12(b)
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Security Agreement, dated March 6, 2015, between Southeast Power Corporation, Power Corporation of America, Bayswater Development Corporation, Pineapple House of Brevard, Inc., C and C Power Line, Inc., and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $2.0 million is hereby incorporated by reference to Exhibit 10-8 of the Company’s Current Report on Form 8-K dated March 6, 2015, heretofore filed with the Commission (file No. 1-7525).
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10-12(c)
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Guaranty Agreement, dated March 6, 2015, between Southeast Power Corporation, Power Corporation of America, Bayswater Development Corporation, Pineapple House of Brevard, Inc., C and C Power Line, Inc., and Branch Banking and Trust Company relating to loans to The Goldfield Corporation of up to $2.0 million is hereby incorporated by reference to Exhibit 10-9 of the Company’s Current Report on Form 8-K dated March 6, 2015, heretofore filed with the Commission (file No. 1-7525).
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Exhibit
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Description of Exhibit
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11
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For computation of per share earnings, see note 9 to the consolidated financial statements.
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*21
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Subsidiaries of Registrant
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*23
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Consent of Independent Registered Public Accounting Firm
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*24
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Powers of Attorney
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*31-1
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Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, 15 U.S.C. Section 7241
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*31-2
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Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, 15 U.S.C. Section 7241
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*32-1
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**Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350
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*32-2
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**Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350
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101.INS
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XBRL Instance Document
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101.SCH
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XBRL Schema Document
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101.CAL
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XBRL Calculation Linkbase Document
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101.DEF
|
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XBRL Definition Linkbase Document
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101.LAB
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XBRL Label Linkbase Document
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|
101.PRE
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|
XBRL Presentation Linkbase Document
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1 Year Goldfield Chart |
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