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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Newport Gold Inc (PK) | USOTC:NWPG | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.001 | 40.00% | 0.0035 | 0.0023 | 0.0035 | 0.0035 | 0.0025 | 0.0025 | 50,000 | 21:00:10 |
Nevada
|
22-2547226
|
|
(State or other jurisdiction
of incorporation or
organization)
|
(I.R.S. Employer
Identification Number)
|
|
8 Nettleton Court
Collingwood, Ontario, Canada
|
L9Y 5B9
|
|
(Address of principal executive offices) |
(Zip Code)
|
Large accelerated filer | o | Accelerated filer | o |
Non-accelerated filer | o | Smaller reporting company | x |
PART I
|
|||||
Page
|
|||||
Item 1.
|
Business
|
4 | |||
Item 1A.
|
Risk Factors
|
15 | |||
Item 1B.
|
Unresolved Staff Comments
|
20 | |||
Item 2.
|
Properties
|
20 | |||
Item 3.
|
Legal Proceedings
|
20 | |||
Item 4.
|
Mine Safety Disclosures
|
20 | |||
PART II
|
|||||
Item 5.
|
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
|
21 | |||
Item 6.
|
Selected Financial Data
|
22 | |||
Item 7.
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
22 | |||
Item 7A.
|
Quantitative and Qualitative Disclosures About Market Risk
|
28 | |||
Item 8.
|
Financial Statements and Supplementary Data
|
29 | |||
Item 9.
|
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
|
30 | |||
Item 9A.
|
Controls and Procedures
|
30 | |||
Item 9B.
|
Other Information
|
30 | |||
PART III
|
|||||
Item 10.
|
Directors, Executive Officers and Corporate Governance
|
31 | |||
Item 11.
|
Executive Compensation
|
33 | |||
Item 12.
|
Security Ownership of Certain Beneficial Owners and Management and Related
Stockholder Matters
|
34 | |||
Item 13.
|
Certain Relationships and Related Transactions, and Director Independence
|
36 | |||
Item 14.
|
Principal Accountant Fees and Services
|
37 | |||
PART IV | |||||
Item 15.
|
Exhibits and Financial Statement Schedules
|
38 | |||
Signatures
|
39 |
TENURE #
|
CLAIM NAME
|
Units
|
EXPIRATION DATE
|
393541
|
Molly Gibson
|
20
|
December 30, 2015
|
393542
|
Motherlode
|
20
|
December 30, 2015
|
395681
|
Lode #1
|
1
|
December 30, 2015
|
395682
|
Lode #2
|
1
|
December 30, 2015
|
395683
|
Lode #3
|
1
|
December 30, 2015
|
395684
|
Lode #4
|
1
|
December 30, 2015
|
395685
|
Lode #5
|
1
|
December 30, 2015
|
395686
|
Lode #6
|
1
|
December 30, 2015
|
395687
|
Lode #7
|
1
|
December 30, 2015
|
December 30, 2015
|
TENURE #
|
CLAIM NAME
|
SIZE (Ha)
|
EXPIRATION DATE
|
395687
|
Lode #7
|
25.00
|
December 30, 2015
|
530691
|
Manitou
|
63.36
|
December 30, 2015
|
556586
|
Irish 1
|
147.83
|
December 30, 2015
|
556588
|
Irish 2
|
21.12
|
December 30, 2015
|
556589
|
Irish 3
|
21.11
|
December 30, 2015
|
556590
|
Irish 4
|
147.89
|
December 30, 2015
|
556696
|
Irish 5
|
84.51
|
December 30, 2015
|
558034
|
Irish 6
|
359.15
|
December 30, 2015
|
573419
|
760.41
|
December 30, 2015
|
|
573420
|
63.34
|
December 30, 2015
|
Excavator Trenching
|
$ | 30,000 | ||
Labour – Geologist(s) | $ | 20,000 | ||
- Prospector(s)
|
$ | 10,000 | ||
- Labourer (s) – reclamation/chainsaw work, trenching
|
$ | 15,000 | ||
- Grid/Soil crew
|
$ | 35,000 | ||
Geophysics – ground magnetometer survey, test IP &/or EM
|
$ | 45,000 | ||
Vehicle rental & fuel
|
$ | 10,000 | ||
Food and Accommodation
|
$ | 15,000 | ||
Analytical Costs, including shipping (soil, rock, trench) | $ | 35,000 | ||
Reporting, drafting | $ | 10,000 | ||
Program Supervision and Management | $ | 20,000 | ||
TOTAL PHASE 1: | $ | 250,000 |
Diamond drilling
|
||||
1500 metres @ $200/m all in cost, including labour, analytical costs
|
$ | 300,000 | ||
Reporting, drafting
|
$ | 10,000 | ||
Program Supervision and Management
|
$ | 40,000 | ||
TOTAL PHASE 2: | $ | 350,000 |
·
|
locating claims,
|
·
|
posting claims,
|
·
|
working claims, and
|
·
|
reporting work performed.
|
·
|
prospecting using hand-held tools,
|
·
|
geological and geochemical surveying,
|
·
|
airborne geophysical surveying,
|
·
|
hand-trenching without the use of explosives, and
|
·
|
the establishment of gridlines that do not require the felling of trees.
|
·
|
Subject to the results of Phase 1, exploration activities that we may carry out in subsequent phases which are subject to the provisions of the Code are as follows:
|
·
|
drilling, trenching and excavating using machinery, and
|
·
|
disturbance of the ground by mechanical means (blasting).
|
Year ending December 31, 2011
|
High
|
Low
|
||||||
Jan, 1, 2011 to March 31, 2011
|
$ | 0.055 | $ | 0.015 | ||||
April 1, 2011 to June 30, 2011
|
$ | 0.20 | $ | 0.04 | ||||
July 1, 2011 to Sept. 30, 2011
|
$ | 0.15 | $ | 0.05 | ||||
Oct. 1, 2011 to Dec. 31, 2011
|
$ | 0.10 | $ | 0.0312 | ||||
Year ending December 31, 2012
|
High
|
Low
|
||||||
Jan, 1, 2012 to March 31, 2012
|
$ | 0.05 | $ | 0.01 | ||||
April 1, 2012 to June 30, 2012
|
$ | 0.05 | $ | 0.02 | ||||
July 1, 2012 to Sept. 30, 2012
|
$ | 0.08 | $ | 0.02 | ||||
Oct. 1, 2012 to Dec. 31, 2012
|
$ | 0.10 | $ | 0.07 |
•
|
Quoted prices for identical or similar assets or liabilities in non-active markets (examples include corporate and municipal bonds which trade infrequently);
|
•
|
Inputs other than quoted prices that are observable for substantially the full term of the asset or liability (examples include interest rate and currency swaps); and
|
•
|
Inputs that are derived principally from or corroborated by observable market data for substantially the full term of the asset or liability (examples include certain securities and derivatives).
|
PAGE
|
|
INDEPENDENT AUDITOR’S REPORT OF REGISTERED PUBLIC ACCOUNTING FIRM
|
F-2
|
CONSOLIDATED BALANCE SHEETS
|
F-3
|
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
|
F-4
|
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT)
|
F-5 to F-6
|
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
F-7
|
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
|
F-8 to F-15
|
/s/ Fazzari + Partners LLP | |
Fazzari + Partners LLP | |
Chartered Accountants
Licensed Public Accountants
|
Vaughan, Ontario, Canada
April 1, 2013
|
December 31,
|
December 31,
|
|||||||
2012
|
2011
|
|||||||
Assets
|
||||||||
Current
|
||||||||
Cash and cash equivalents
|
$ | 26,580 | $ | 41,847 | ||||
Prepaid expenses
|
233 | 233 | ||||||
26,813 | 42,080 | |||||||
Long-term
|
||||||||
Mineral interests (Note 5)
|
35,397 | 35,397 | ||||||
Equipment (Note 6)
|
- | - | ||||||
35,397 | 35,397 | |||||||
Total Assets
|
$ | 62,210 | $ | 77,477 | ||||
Liabilities
|
||||||||
Current
|
||||||||
Accounts payable and accrued liabilities
|
$ | 156,161 | $ | 147,778 | ||||
Accrued officers salaries (Note 7)
|
- | 271,000 | ||||||
Due to related parties (Note 7)
|
34,240 | 34,240 | ||||||
Total Liabilities
|
190,401 | 453,018 | ||||||
Stockholders' Deficit
|
||||||||
Common stock - Authorized 100,000,000 common shares with a par value of $0.001 per share.
Issued and outstanding 57,310,070 at December 31, 2012 and 36,823,720 at December 31, 2011. (Note 8)
|
57,310 | 36,823 | ||||||
Additional paid-in capital
|
4,152,905 | 3,694,895 | ||||||
Subscriptions receivable
|
- | 8,010 | ||||||
Accumulated other comprehensive income
|
148,872 | 148,750 | ||||||
Accumulated deficit - during exploration stage
|
(4,487,278 | ) | (4,264,019 | ) | ||||
Total Stockholders' Deficit
|
(128,191 | ) | (375,541 | ) | ||||
Total Liabilities and Stockholders' Deficit
|
$ | 62,210 | $ | 77,477 |
July 16, 2003
|
||||||||||||
Twelve Months Ended
|
(inception) to
|
|||||||||||
December 31,
|
December 31,
|
|||||||||||
2012
|
2011
|
2012
|
||||||||||
Expenses
|
||||||||||||
Officers compensation
|
$ | 110,027 | $ | 120,000 | $ | 527,547 | ||||||
Accounting and legal
|
72,811 | 57,754 | 499,536 | |||||||||
Geological consulting fees
|
21,185 | 35,827 | 560,402 | |||||||||
Office and travel
|
5,430 | 4,575 | 93,391 | |||||||||
Interest
|
1,712 | 1,382 | 3,311 | |||||||||
Bank charges
|
580 | 580 | ||||||||||
Write-down of mineral interest
|
- | - | 2,397,663 | |||||||||
Investor relations
|
- | - | 115,535 | |||||||||
Consulting
|
- | - | 110,000 | |||||||||
Resource property expenditures
|
- | - | 86,852 | |||||||||
Filing and transfer agent fees
|
11,514 | 20,565 | 69,455 | |||||||||
Occupancy costs
|
- | - | 17,514 | |||||||||
Depreciation
|
- | 820 | 5,620 | |||||||||
Foreign exchange (gain)
|
- | - | (128 | ) | ||||||||
Net (loss)
|
(223,259 | ) | (240,923 | ) | (4,487,278 | ) | ||||||
Foreign currency translation adjustment
|
122 | 2,620 | 148,872 | |||||||||
Total comprehensive (loss)
|
$ | (223,137 | ) | $ | (238,303 | ) | $ | (4,338,406 | ) | |||
Net loss per share - basic and diluted
|
$ | (0.01 | ) | $ | (0.01 | ) | $ | |||||
Weighted average number of common shares outstanding - basic and diluted | 39,196,767 | 35,573,720 |
Accumulated
|
||||||||||||||||||||||||||||
Common Stock
|
Additional
|
Share
|
Other
|
Deficit During
|
Total
|
|||||||||||||||||||||||
Par Value $0.001
|
Paid-in
|
Subscriptions
|
Comprehensive
|
Exploration
|
Stockholders'
|
|||||||||||||||||||||||
Shares
|
Amount
|
Capital
|
Received
|
Income
|
Stage
|
Equity (Deficit)
|
||||||||||||||||||||||
Share subscriptions
|
||||||||||||||||||||||||||||
-cash
|
- | $ | - | $ | - | $ | 93,150 | $ | - | $ | - | $ | 93,150 | |||||||||||||||
-property
|
- | - | - | 22,500 | - | - | 22,500 | |||||||||||||||||||||
Foreign currency
|
||||||||||||||||||||||||||||
translation adjustment
|
- | - | - | - | (3,409 | ) | - | (3,409 | ) | |||||||||||||||||||
Net Loss
|
- | - | - | - | - | (161,681 | ) | (161,681 | ) | |||||||||||||||||||
Balance December 31, 2003
|
- | - | - | 115,650 | (3,409 | ) | (161,681 | ) | (49,440 | ) | ||||||||||||||||||
Foreign currency
|
||||||||||||||||||||||||||||
translation adjustment
|
- | - | - | - | (1,124 | ) | - | (1,124 | ) | |||||||||||||||||||
Net Loss
|
- | - | - | - | - | (95,960 | ) | (95,960 | ) | |||||||||||||||||||
Balance December 31, 2004
|
- | - | - | 115,650 | (4,533 | ) | (257,641 | ) | (146,524 | ) | ||||||||||||||||||
Share subscriptions
|
||||||||||||||||||||||||||||
-cash
|
- | - | - | 144,000 | - | - | 144,000 | |||||||||||||||||||||
Foreign currency
|
||||||||||||||||||||||||||||
translation adjustment
|
- | - | - | - | (2,476 | ) | - | (2,476 | ) | |||||||||||||||||||
Net Loss
|
- | - | - | - | - | (93,207 | ) | (93,207 | ) | |||||||||||||||||||
Balance December 31, 2005
|
- | - | - | 259,650 | (7,009 | ) | (350,848 | ) | (98,207 | ) | ||||||||||||||||||
Common shares issued
|
||||||||||||||||||||||||||||
-for cash
|
4,200,000 | 4,200 | 271,800 | - | - | - | 276,000 | |||||||||||||||||||||
-for mining claims
|
2,500,000 | 2,500 | 247,500 | - | - | - | 250,000 | |||||||||||||||||||||
-for share subscriptions
|
8,375,000 | 8,375 | 251,275 | (259,650 | ) | - | - | - | ||||||||||||||||||||
Foreign currency
|
||||||||||||||||||||||||||||
translation adjustment
|
- | - | - | - | 577 | - | 577 | |||||||||||||||||||||
Net Loss
|
- | - | - | - | - | (339,331 | ) | (339,331 | ) | |||||||||||||||||||
Balance December 31, 2006
|
15,075,000 | 15,075 | 770,575 | - | (6,432 | ) | (690,179 | ) | 89,039 | |||||||||||||||||||
Common shares issued
|
||||||||||||||||||||||||||||
-for mining claims
|
3,111,500 | 3,111 | 1,848,789 | - | - | - | 1,851,900 | |||||||||||||||||||||
Foreign currency
|
||||||||||||||||||||||||||||
translation adjustment
|
- | - | - | - | 159,375 | - | 159,375 | |||||||||||||||||||||
Net Loss
|
- | - | - | - | - | (507,640 | ) | (507,640 | ) | |||||||||||||||||||
Balance December 31, 2007
|
18,186,500 | 18,186 | 2,619,364 | - | 152,943 | (1,197,819 | ) | 1,592,674 |
Accumulated
|
||||||||||||||||||||||||||||
Common Stock
|
Additional
|
Share
|
Other
|
Deficit During
|
Total
|
|||||||||||||||||||||||
Par Value $0.001
|
Paid-in
|
Subscriptions
|
Comprehensive
|
Exploration
|
Stockholders'
|
|||||||||||||||||||||||
Shares
|
Amount
|
Capital
|
Received
|
Income
|
Stage
|
Equity (Deficit)
|
||||||||||||||||||||||
Balance December 31, 2007
|
18,186,500 | 18,186 | 2,619,364 | - | 152,943 | (1,197,819 | ) | 1,592,674 | ||||||||||||||||||||
Adjustment to opening
|
||||||||||||||||||||||||||||
deficit
|
- | - | - | - | - | (10,000 | ) | (10,000 | ) | |||||||||||||||||||
Common shares issued
|
||||||||||||||||||||||||||||
-for mining claims
|
2,400,000 | 2,400 | 193,600 | - | - | - | 196,000 | |||||||||||||||||||||
-on conversion of debt
|
14,237,220 | 14,237 | 697,624 | - | - | - | 711,861 | |||||||||||||||||||||
Foreign currency
|
||||||||||||||||||||||||||||
translation adjustment
|
- | - | - | - | (1,861 | ) | - | (1,861 | ) | |||||||||||||||||||
Net Loss
|
- | - | - | - | - | (2,638,843 | ) | (2,638,843 | ) | |||||||||||||||||||
Balance December 31, 2008
|
34,823,720 | 34,823 | 3,510,588 | - | 151,082 | (3,846,662 | ) | (150,169 | ) | |||||||||||||||||||
Foreign currency
|
||||||||||||||||||||||||||||
translation adjustment
|
- | - | - | - | 2,443 | - | 2,443 | |||||||||||||||||||||
Net Income
|
- | - | - | - | - | 5,804 | 5,804 | |||||||||||||||||||||
Balance December 31, 2009
|
34,823,720 | 34,823 | 3,510,588 | - | 153,525 | (3,840,858 | ) | (141,922 | ) | |||||||||||||||||||
Imputed interest on loans
|
- | - | 217 | - | - | - | 217 | |||||||||||||||||||||
Foreign currency
|
||||||||||||||||||||||||||||
translation adjustment
|
- | - | - | - | (7,395 | ) | - | (7,395 | ) | |||||||||||||||||||
Net Loss
|
- | - | - | - | - | (182,238 | ) | (182,238 | ) | |||||||||||||||||||
Balance December 31, 2010
|
34,823,720 | 34,823 | 3,510,805 | - | 146,130 | (4,023,096 | ) | (331,338 | ) | |||||||||||||||||||
Common stock issued
|
2,000,000 | 2,000 | 184,090 | - | - | - | 186,090 | |||||||||||||||||||||
Sbscriptions receivable
|
- | - | - | 8,010 | - | - | 8,010 | |||||||||||||||||||||
Foreign currency
|
||||||||||||||||||||||||||||
translation adjustment
|
- | - | - | - | 2,620 | - | 2,620 | |||||||||||||||||||||
Net Loss
|
- | - | - | - | - | (240,923 | ) | (240,923 | ) | |||||||||||||||||||
Balance December 31, 2011
|
36,823,720 | 36,823 | 3,694,895 | 8,010 | 148,750 | (4,264,019 | ) | (375,541 | ) | |||||||||||||||||||
Common stock issued
|
20,486,350 | 20,487 | 448,288 | - | - | - | 468,775 | |||||||||||||||||||||
Imputed interest on loans
|
- | - | 1,712 | - | - | - | 1,712 | |||||||||||||||||||||
Capital contribution
|
- | - | 8,010 | (8,010 | ) | - | - | - | ||||||||||||||||||||
Foreign currency
|
||||||||||||||||||||||||||||
translation adjustment
|
- | - | - | - | 122 | - | 122 | |||||||||||||||||||||
Net Loss
|
- | - | - | - | - | (223,259 | ) | (223,259 | ) | |||||||||||||||||||
Balance December 31, 2012
|
57,310,070 | $ | 57,310 | $ | 4,152,905 | $ | - | $ | 148,872 | $ | (4,487,278 | ) | $ | (128,191 | ) |
July 16, 2003
|
||||||||||||
Twelve Months Ended
|
(inception) to
|
|||||||||||
December 31,
|
December 31,
|
|||||||||||
2012
|
2011
|
2012
|
||||||||||
Operating Activities
|
||||||||||||
Net (loss)
|
$ | (223,259 | ) | $ | (240,923 | ) | $ | (4,487,278 | ) | |||
Items not involving cash
|
||||||||||||
Depreciation
|
- | 820 | 5,620 | |||||||||
Write down of mineral interest
|
- | - | 2,397,663 | |||||||||
Imputed interest on loans
|
1,712 | 1,321 | 3,250 | |||||||||
(221,547 | ) | (238,782 | ) | (2,080,745 | ) | |||||||
Changes in non cash operating assets and liabilities
|
||||||||||||
Prepaid expenses
|
- | - | (207 | ) | ||||||||
Reclamation of bonds
|
- | - | 716 | |||||||||
Accounts payable and accrued liabilities
|
8,383 | (9,902 | ) | 177,358 | ||||||||
Accrued officers salaries
|
99,927 | 120,000 | (31,000 | ) | ||||||||
Due to related parties
|
- | - | 29,778 | |||||||||
108,310 | 110,098 | 176,645 | ||||||||||
Cash Used in Operating Activities
|
(113,237 | ) | (128,684 | ) | (1,904,100 | ) | ||||||
Investing Activities
|
||||||||||||
Purchase of equipment
|
- | - | (5,034 | ) | ||||||||
Acquisition of mineral interests
|
- | - | 20,872 | |||||||||
Cash Used in Investing Activities
|
- | - | 15,838 | |||||||||
Financing Activities
|
||||||||||||
Loan payable-shareholders
|
- | (30,162 | ) | 246,737 | ||||||||
Subscriptions received
|
- | 8,010 | 237,150 | |||||||||
Sale of common shares and warrants
|
97,848 | 186,090 | 1,359,733 | |||||||||
Cash Provided by Financing Activities
|
97,848 | 163,938 | 1,843,620 | |||||||||
Inflow/(Outflow) of cash
|
(15,389 | ) | 35,254 | (44,642 | ) | |||||||
Effect of exchange rate change on cash balances held in foreign currencies
|
122 | 2,620 | 71,222 | |||||||||
Cash, Beginning of period
|
41,847 | 3,973 | - | |||||||||
Cash, End of period
|
$ | 26,580 | $ | 41,847 | $ | 26,580 | ||||||
Supplemental Information:
|
||||||||||||
Subscriptions receivable
|
$ | - | $ | 8,010 | $ | 8,010 | ||||||
Interest paid
|
$ | - | $ | - | $ | - | ||||||
Taxes paid
|
$ | - | $ | - | $ | - | ||||||
Non-Cash Investing and Financing Activities:
|
||||||||||||
Conversion of payables into common shares
|
$ | 370,927 | $ | - | $ | 370,927 | ||||||
Issuance of common shares for mineral properties
|
$ | - | $ | - | $ | 2,297,900 | ||||||
Issuance of common shares for debt conversion
|
$ | - | $ | - | $ | 711,861 |
•
|
Quoted prices for identical or similar assets or liabilities in non-active markets (examples include corporate and municipal bonds which trade infrequently);
|
•
|
Inputs other than quoted prices that are observable for substantially the full term of the asset or liability (examples include interest rate and currency swaps); and
|
•
|
Inputs that are derived principally from or corroborated by observable market data for substantially the full term of the asset or liability (examples include certain securities and derivatives).
|
December 31,
|
December 31,
|
|||||||
2012
|
2011
|
|||||||
Mineral interests as described below
|
$ | 35,397 | $ | 35,397 |
December 31,
|
December 31,
|
|||||||
2012
|
2011
|
|||||||
Cost
|
$ | 5,606 | $ | 5,606 | ||||
Accumulated depreciation
|
(5,606 | ) | (5,606 | ) | ||||
Net
|
$ | - | $ | - |
Average
|
||||||||
Warrants
|
Exercise Price
|
|||||||
Balance January 1, 2012
|
2,000,000 | $ | 0.10 | |||||
Warrants issued
|
1,940,000 | 0.05 | ||||||
Balance December 31, 2012
|
3,940,000 | $ | 0.08 |
2010
|
$ | 127,532 | ||
2014
|
68,041 | |||
2015
|
79,751 | |||
2026
|
225,810 | |||
2027
|
131,375 | |||
2028
|
166,661 | |||
2029
|
137,972 | |||
$ | 937,142 |
Name
|
Age
|
Present Position
and Offices
|
Has Served as
Director Since
|
|||
Derek Bartlett
|
73
|
President,
|
July 2003
|
|||
8 Nettleton Court
|
Chief Executive Officer
|
|||||
Collingwood, Ontario
|
and Director
|
|||||
L9Y 5B9
|
||||||
John Arnold
|
69
|
Treasurer, Acting Chief
|
February 2010
|
|||
42 Fox Run Drive
|
Financial Officer,
|
|||||
Guelph, Ontario
|
Principal Accounting
|
|||||
N1H 6H9
|
Officer and Director
|
|||||
Anthony M. McCabe
|
39 |
Director
|
December 2012
|
|||
336 Queen Street South
|
||||||
Mississauga, Ontario
|
||||||
L5M 1M2
|
Name and Principal Position
|
Year
|
Salary
($)
|
Bonus
($)
|
Stock Awards
($)
|
Option Awards
($)
|
Non-Equity Incentive Plan Compensation
($)
|
Nonqualified
Deferred Compensation
Earnings ($)
|
All Other Compensation
($)
|
Total
|
|||||||||||||||||||||||||
Derek Bartlett, President and
|
2012
|
$ | 110,000 | (2) | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 110,000 | ||||||||||||||||
Chief Executive Officer (1) |
2011
|
$ | 120,000 | (2) | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 120,000 |
(1)
|
Mr. Bartlett has been our President and Chief Executive since our inception.
|
(2)
|
During 2012, Mr. Bartlett was paid $10,000 in cash for his salary and the balance for 2012 was accrued. The amount for December 2012 of $10,000 has been waived by Mr. Bartlett. All compensation for 2011 was accrued as well.
On December 28, 2012, Mr. Bartlett assigned to Alex Johnston all of Mr. Bartlett’s right, title and interest in and to U.S. $370,927 owing to Mr. Bartlett for all previously accrued officer salaries. See Part II, Item 5 “Recent Sales of Unregistered Securities” for information on the conversion of such debt by Mr. Johnston into shares of common stock of the Company.
|
Name and Address
|
Amount and Nature
of Beneficial Ownership
*
|
Percent of Class
|
|||||||
Derek Bartlett
|
55,000 | (1) | ** | ||||||
8 Nettleton Court
|
|||||||||
Collingwood, Ontario
|
|||||||||
L9Y 5B9
|
|||||||||
John Arnold
|
25,000 | ** | |||||||
42 Fox Run Drive
|
|||||||||
Guelph, Ontario
|
|||||||||
N1H 6H9
|
|||||||||
Anthony M. McCabe
|
-0- | 0 | % | ||||||
336 Queen Street South
|
|||||||||
Mississauga, Ontario
|
|||||||||
L5M 1M2 | |||||||||
Alex Johnston
|
25,571,350 | (2) | 44.60 | % | |||||
Coco Delmar San Francisco
|
|||||||||
Calle 79 Este
|
|||||||||
Edif. Ocean Sky, Torre B
|
|||||||||
Panama City, Panama
|
|||||||||
All officers and directors
|
80,000 | ** | |||||||
as a group (3 persons)
|
*
|
Based on 57,310,070
shares of common stock issued and outstanding as of December 31, 2012. Except as otherwise indicated, we believe that the beneficial owners of the common stock listed above, based on information furnished by such owners, have sole investment and voting power with respect to such shares, subject to community property laws where applicable. Beneficial ownership is determined in accordance with the rules of the SEC and generally includes voting or investment power with respect to securities. Shares of common stock subject to options or warrants currently exercisable, or exercisable within 60 days, are deemed outstanding for purposes of computing the percentage ownership of the person holding such option or warrants, but are not deemed outstanding for purposes of computing the percentage ownership of any other person.
|
**
|
Less than 1%.
|
(1)
|
Includes 5,000 shares of common stock owned by the wife of Mr. Bartlett.
|
(2)
|
Mr. Johnston is a former director of the Company.
|
|
Fiscal 2012
|
Fiscal 2011
|
||||||
Fee Category
|
Fees
|
Fees
|
||||||
|
||||||||
Audit Fees
|
$ | 17,000 | $ | 20,000 | ||||
Audit Related Fees
|
$ | 0 | $ | 0 | ||||
Tax Fees
|
$ | 0 | $ | 0 | ||||
All Other Fees
|
$ | 0 | $ | 0 | ||||
Total Fees
|
$ | 17,000 | $ | 20,000 |
(1)
|
Financial Statements
|
(2)
|
Financial Statement Schedules
|
(3)
|
Exhibits
|
Exhibit No.
|
Name of Exhibit
|
Incorporated by
Reference to
|
||
3.1
|
Articles of Incorporation
|
Exhibit 3.1 (1)
|
||
3.2
|
Bylaws
|
Exhibit 3.2 (1)
|
||
10.1
|
Burnt Basin mineral claims
|
Exhibit 10.1 (4)
|
||
10.2
|
Option Agreement to acquire Burnt Basin mineral claims
|
Exhibit 10.2 (1)
|
||
10.3 |
Letter Agreement dated June 13, 2011 pertaining to
option agreement (Burnt Basin mineral claims)
|
Exhibit 10.7 (4)
|
||
10.4 |
Management Services Agreement with Derek Bartlett
dated January 1, 2010
|
Exhibit 10.8 (4)
|
||
10.5 |
Conversion and Subscription Agreement dated as of
December 28, 2012 by and between Newport Gold, Inc.
and Alex Johnston
|
Exhibit 10.1 (5)
|
||
10.6 |
Letter Agreement dated March 26, 2013 pertaining to
option agreement (Burnt Basin mineral claims)
|
*
|
||
21.1
|
List of Subsidiaries
|
Exhibit 21 (3)
|
||
31.1
|
Certification of Chief Executive Officer pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002
(Rules 13a-14 and 15d-14 of the Exchange Act)
|
* | ||
31.2
|
Certification of Principal Financial Officer pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002
(Rules 13a-14 and 15d-14 of the Exchange Act)
|
* | ||
32.1
|
Certification pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002 (18 U.S.C. 1350)
|
* | ||
101**
|
The following financial information from our Annual Report on Form 10-K for the year ended December 31, 2012
formatted in Extensible Business Reporting Language (XBRL):
(i) the Consolidated Balance Sheets, (ii) the Consolidated
Statements of Operations, (iii) the Consolidated Statements of
Shareholders’ Equity, (iv) the Consolidated Statements
of Cash Flows, and (v) Notes to Consolidated Financial Statements
|
* |
*
|
Filed herewith.
|
**
|
In accordance with Rule 406T of Regulation S-T, the XBRL information in Exhibit 101 to this annual report on Form 10-K shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
|
(1)
|
Filed as an exhibit to the Company’s Registration Statement on Form SB-2 filed on May 17, 2004, File No. 333-115550, and incorporated by reference herein.
|
(2)
|
Filed as an exhibit to the Company’s Annual Report on Form 10-KSB for the year ended December 31, 2007 filed on April 15, 2008, and incorporated by reference herein.
|
(3)
|
Filed as an exhibit to Amendment No. 3 to the Company’s Registration Statement on Form SB-2 filed on January 10, 2005, File No. 333-108872, and incorporated by reference herein.
|
(4)
|
Filed as an exhibit to Amendment No. 1 to the Company’s Registration Statement on Form 10 filed on July 8, 2011, File No. 0-52214, and incorporated by reference herein.
|
(5)
|
Filed as an exhibit to the Company’s Current Report of Form 8-K filed on January 2, 2013, and incorporated by reference herein.
|
NEWPORT GOLD, INC.
(Registrant)
|
|||
Dated: April 1, 2013
|
By:
|
/s/ Derek Bartlett | |
Derek Bartlett, | |||
President and Chief Executive Officer
|
Signature
|
Title
|
Date
|
||
/s/ Derek Bartlett |
President, Chief Executive Officer and Director
|
April 1, 2013 | ||
Derek Bartlett | (Principal Executive Officer) | |||
/s/ John Arnold | Treasurer, Acting Chief Financial Officer and Director |
April 1, 2013
|
||
John Arnold |
(Principal Financial Officer and Principal Accounting Officer)
|
|||
/s/ Anthony M. McCabe | Director |
April 1, 2013
|
||
Anthony M. McCabe
|
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