Attached files

file filename
EXCEL - IDEA: XBRL DOCUMENT - PATRIOT GOLD CORPFinancial_Report.xls
10-Q - PATRIOT GOLD CORPform10q113011.htm
XML - IDEA: XBRL DOCUMENT - PATRIOT GOLD CORPR11.htm
XML - IDEA: XBRL DOCUMENT - PATRIOT GOLD CORPR10.htm
XML - IDEA: XBRL DOCUMENT - PATRIOT GOLD CORPR1.htm
XML - IDEA: XBRL DOCUMENT - PATRIOT GOLD CORPR13.htm
XML - IDEA: XBRL DOCUMENT - PATRIOT GOLD CORPR14.htm
XML - IDEA: XBRL DOCUMENT - PATRIOT GOLD CORPR2.htm
XML - IDEA: XBRL DOCUMENT - PATRIOT GOLD CORPR3.htm
XML - IDEA: XBRL DOCUMENT - PATRIOT GOLD CORPR4.htm
XML - IDEA: XBRL DOCUMENT - PATRIOT GOLD CORPR5.htm
XML - IDEA: XBRL DOCUMENT - PATRIOT GOLD CORPR6.htm
XML - IDEA: XBRL DOCUMENT - PATRIOT GOLD CORPR7.htm
XML - IDEA: XBRL DOCUMENT - PATRIOT GOLD CORPR9.htm
XML - IDEA: XBRL DOCUMENT - PATRIOT GOLD CORPR8.htm
EX-32.1 - PATRIOT GOLD CORPform10q113011ex32.htm
EX-31.1 - PATRIOT GOLD CORPform10q113011ex31.htm
v2.4.0.6
WARRANTS
6 Months Ended
Nov. 30, 2011
WARRANTS  
WARRANTS

NOTE 7 - WARRANTS

 

On November 27, 2003, the Company issued 864,000 Class A warrants, 864,000 Class B warrants, 864,000 Class C warrants, and 864,000 Class D warrants. All warrants are exchangeable for one share of the Company’s common stock.  The original exercise period was as follows: Class A warrants were exercisable on November 27, 2004 for a period of five years at an exercise price of $1.40 per share of common stock; the Class B warrants were exercisable on November 27, 2005 for a period of four years at an exercise price of $1.45; the Class C warrants were exercisable on November 27, 2006 an at exercise price of $1.50; and the Class D warrants were exercisable on November 27, 2007 at an exercise price of $1.55. On May 26, 2010 the Warrant Expiration Date was extended from November 27, 2011 to November 27, 2013 with respect to the Class A, Class B, Class C and Class D Warrants.

 

The Company has the right, in its sole discretion, to accelerate the exercise date of the warrants, to decrease the exercise price of the warrants and/or extend the expiration date of the warrants. The warrants were determined to have no value at the time of their issuance. The warrants were issued to three non-US residents.

 

The following table sets forth common share purchase warrants outstanding as of November 30, 2011:

 

 

 

Warrants Outstanding

 

Balance, May 31, 2011

 

 

3,456,000

 

Warrants granted

 

 

-

 

Warrants expired

 

 

-

 

Balance, November 30, 2011

 

 

3,456,000

 

 

No warrants were exercised during the three or six month period ended November 30, 2011.