Westmountain Gold Inc. (WMTN)

[Renee]

Yes, the Q came off effective this morning. The only info I could obtain is in these two articles: (black hilite mine)


First Amended Reorganization Plan Filed by WestMountain Gold, Inc.
Dec 20 17
WestMountain Gold, Inc. filed a first amended and restated joint plan of reorganization in the US Bankruptcy Court on December 20, 2017. Under the plan, the Gordon Investments unsecured claims of $0.63 million will be paid pro rata issuance of new common stock of $0.63 million. Each creditor holding and Allowed Claim in Classes 3 and C shall receive a pro-rata share of the “Class 3 and C Participation Interest.” The Class 3 and C Participation Interest shall be in the amount of $0.8 million and it shall be a participatory interest in the $5 million Allowed Secured Claim. BOCO shall receive 0.20 New Common Shares of stock in WestMountain for each dollar of unsecured Allowed Claim held by BOCO on the Effective Date of the Plan. There is no change in treatment of various other claimant classes.

Reorganization Plan and Disclosure Statement Filed by WestMountain Gold, Inc.
Jun 26 17
WestMountain Gold, Inc. filed a plan of reorganization with related disclosure statement in the US Bankruptcy Court on June 26, 2017. As per the plan filed, administrative claims, tax claims of $0.21 million, Professional fees of $0.08 million, US trustee fee claims of $0.01 million shall be paid in full in cash. DIP claims in the amount of $1 million shall be entitled to elect to receive instead of cash payment, New common stock in WestMountain up to a maximum allocation of 87.5% of the new common stock issued on account of the new capital, if a minimum of $3.5 million of new capital is raised. The BOCO secured claims is fixed in the amount of $5 million under the terms of the plan and shall be paid in full in cash along with interest on the 5 year anniversary of the effective date of the plan. The balance of the BOCO claim, approximately $3.7 million will be treated as an unsecured claim. The Unsecured Creditor Claims of $5.79 million will be entitled to select an option under the plan where they can exchange their claims for $0.07 per dollar of the claim, paid once the plan confirmed or $0.12 per dollar of the claim, paid within 5 years or 0.15 share of the new common stock up to a maximum allocation of 11.3% of the new common stock for the electing creditors in the unsecured claim class. Common stock interest holders in WestMountain shall receive 1.9% of the new common stock of reorganized WestMountain. Preferred stock interest in WestMountain shall receive in exchange for their interest on pro rata basis stock equal to 0.8% of the new common stock of reorganized WestMountain. The interest of Terra Gold shall reinstate their ownership with WestMountain. The plan will be funded through cash in hand and issuance of new common stock.