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| | Business Summary: Argentex Mining Corporation, an exploration stage company, engages in the exploration, development, and production of mineral properties. | | | Address
1066 West Hastings Street
Suite 2300
Vancouver
, British Columbia V6E 3X2
Phone: 866-594-7687
Website: http://www.argentexmining.com
| | Auditor |
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Morgan & Company
| | Transfer Agent |
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Nevada Agency & Trust Co.
| | ShareHolders: 68 | Founded: 2001
Domicile: Nevada | | | |
| | Argentex Mining Corporation, an exploration stage company, engages in the exploration, development, and production of mineral properties. It principally holds interests in five groups of mineral exploration claims, including four groups of claims located in the Rio Negro and Santa Cruz provinces of Argentina; and the other group of mineral exploration claims, known as the Argie claims, is located in the Pleasant Valley area of British Columbia, near the town of Merritt, British Columbia. The company, formerly known as Delbrook Corporation, was founded in 2001 and is based in Vancouver, Canada. | | History: INCORPORATED in Nevada Dec. 21, 2001, as Delbrook Corp.; and effective Mar. 15, 2004, merged Argentex Mining Corp., a wholly owned subsidiary of the company organized in Nevada on Feb. 26, 2004, and adopted merged concern's title. | | | | Subsidiaries: |
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Delbrook Mining Corp.
SCRN Properties Ltd.
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Management
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| Officers | Position |
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| Kenneth Hicks | President | | Hamish Malkin | Chief Financial Officer |
| | Directors |
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| Colin Godwin | | Jenna Hardy | | Kenneth Hicks | | Richard Thibault | | | |
| | | | Capitalization as of 01/31/2007: | | | | | Authorized Shares | Outstanding Shares |
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| Preferred $0.001 par | 100,000,000 | None | | Common $0.001 par | 100,000,000 | 20,996,723 |
| | | | LONG TERM DEBT: None. | | | | Common $0.001 par | | | |
Stockholders:
04/16/2007,
68.
| | PRINCIPAL STOCKHOLDERS: April 16, 2007, Kenneth E. Hicks owned or controlled 8.1% of the Common. | | | |
Transfer Agent: Nevada Agency & Trust Co.
Reno
, NV | | | | OTC Bulletin Board( Primary): AGXM | | | | | | TSX Venture Exchange( Primary): ATX | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2007 | 1.6000 | 0.9800 | | OTC Bulletin Board | 2006 | 1.8100 | 0.3700 | | OTC Bulletin Board | 2005 | 0.7400 | 0.1650 | | OTC Bulletin Board | 2004 | 1.6600 | 0.5300 |
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| | | | DIVIDENDS: Common $0.001 par: No cash.
Common split 3-for-1, Mar. 17, 2004. | | | | | |
| | Annual Report |
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| | | Income Statement | |
| 2008 | 2008 | 2007 |
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| Expenses |
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| | Consulting fees | $241,655 | $806,326 | $268,143 | | Depreciation | 1,648 | 3,057 | 893 | | Investor relations and communication | 184,443 | 1,509,192 | 80,447 | | Mineral property interests (Note 4) | 1,518,813 | 3,870,481 | 1,056,045 | | Office and sundry | 222,276 | 343,654 | 32,178 | | Rent | 22,346 | 57,347 | 14,186 | | Professional fees | 188,282 | 653,944 | 195,624 | | Stock-based compensation | 1,130,676 | 1,822,289 | 527,092 | | Transfer agent fees | 21,626 | 83,525 | 10,418 | | Travel | 159,375 | 217,095 | 15,171 | | * | (3,691,140) | (9,366,910) | (2,200,197) | | Interest income (expense) | 2,826 | (525,889) | (131,312) | | Net Loss | $(3,688,314) | $(9,892,799) | $(2,331,509) | | Basic and diluted loss per share | $ | (0.12) | (0.15)$ | | Weighted average number |
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| | of shares outstanding - basic and diluted | 25,004,109 |
| 19,536,548 | | Operating Income As Calculated |
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| | Depr. and Amort. |
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| | Fixed Charges Coverage: |
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| | Available for Fixed Charges |
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| | Gross Fixed Charges |
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| | Fixed Charges Times Earnings |
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| | Fixed Charges Coverages and Preferred Dividends Times Earnings |
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| | Capital Expenditures |
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| | Research & Development Expenditures |
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| | | | Balance Sheet | |
| 2008 | 2007 |
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| ASSETS |
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| | Current |
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| | Cash and cash equivalents | $845,219 | $901,549 | | Prepaid expenses | 30,576 | 286 | | Total current assets | 875,795 | 901,835 | | Property and Equipment (Note 3) | 26,063 | 2,763 | | * | $901,858 | $904,598 | | LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY) |
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| | Current liabilites |
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| | Accounts payable and accrued liabilities | $496,487 | $586,917 | | Convertible promissory notes (Note 5) | - | 1,250,000 | | Promissory note - due to related party (Note 6) | - | 90,410 | | Promissory notes - other (Note 6) | - | 100,000 | | * | 496,487 | 2,027,327 | | Stockholders' equity (deficiency) |
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| | Preferred stock, 100,000,000 share authorized |
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| | with a par value |
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| | of $0.001 (issued: January 31, 2008 - Nil: | - | - | | January 31, 2007 - Nil) |
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| | Preferred stock, Series A convertible, 2,000 authorized with a par value |
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| | of $0.001 (issued: January 31, 2008 - Nil: | - | - | | January 31,2007 - Nil) |
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| | Common stock, 100,000,000 shares authorized with | 28,311 | 20,997 | | a par value |
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| | of $0.001 (issued: January 31, 2008 - 28,311,553; |
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| | January 31, 2007 - 20,996,723) |
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| | Additional paid-in capital | 10,269,859 | 4,978,759 | | Warrants | - | 82,000 | | Deficit accumulated during the exploration stage | (9,892,799) | (6,204,485) | | Total stockholders' equity (deficiency) | 405,371 | (1,122,729) | | Total liabilities and stockholders' equity | $901,858 | $904,598 | | (deficiency) |
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| | Net Working Capital |
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| | Equity per Share |
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| | Depr. and Amort. Reserve |
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| | Preferred Shares Issued |
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| | Common Shares Issued |
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| | Treasury Shares - Preferred |
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| | Treasury Shares - Common |
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| | Interim Report
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| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2009 |
1 | Nil | | 2008 |
1 | Nil | | 2008 |
2 | Nil | | 2008 |
3 | Nil | | 2008 |
Full Year
| Nil | | 2007 |
1 | Nil | | 2007 |
2 | Nil | | 2007 |
3 | Nil | | 2007 |
Full Year
| Nil | | 2006 |
1 | Nil | | 2006 |
2 | Nil | | 2006 |
3 | Nil | | 2006 |
Full Year
| Nil | | 2005 |
1 | Nil | | 2005 |
2 | Nil | | 2005 |
3 | Nil | | 2005 |
Full Year
| Nil | | 2004 |
Full Year
| Nil |
| | | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2008 |
1 | (2,880,000) | | 2007 |
1 | (1,010,000) | | 2007 |
2 | (900,000) | | 2007 |
3 | (310,000) | | 2007 |
4 | (1,460,000) | | 2007 |
Full Year
| (2,331,500) | | 2006 |
1 | (520,000) | | 2006 |
2 | (610,000) | | 2006 |
3 | (270,000) | | 2006 |
Full Year
| (1,478,300) | | 2005 |
1 | (280,000) | | 2005 |
2 | (420,000) | | 2005 |
3 | (190,000) | | 2005 |
Full Year
| (2,293,000) | | 2004 |
1 | (1,090,000) | | 2004 |
2 | (420,000) | | 2004 |
3 | (400,000) | | 2004 |
Full Year
| (31,000) |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2009 |
1 | (.10) | | 2008 |
1 | (.05) | | 2008 |
2 | (.04) | | 2008 |
3 | (.01) | | 2008 |
4 | (.06) | | 2008 |
Full Year
| (.15) | | 2007 |
1 | (.03) | | 2007 |
2 | (.03) | | 2007 |
3 | (.01) | | 2007 |
Full Year
| (.12) | | 2006 |
1 | (.02) | | 2006 |
2 | (.02) | | 2006 |
3 | (.01) | | 2006 |
Full Year
| (.07) | | 2005 |
1 | (.08) | | 2005 |
2 | (.02) | | 2005 |
3 | (.02) | | 2005 |
Full Year
| (.13) | | 2004 |
Full Year
| (.01) |
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