10KSB/A 1 a06-12757_110ksba.htm AMENDMENT TO ANNUAL AND TRANSITION REPORTS OF SMALL BUSINESS ISSUERS

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10-KSB/A

(Amendment No. 2)

 

(Mark

 

One)

 

ý

 

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the fiscal year ended December 31, 2005 or

 

o

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from             to

 

Commission file number 0-17171

 

URANIUM RESOURCES, INC.

(Name of Small Business Issuer in its Charter)

 

DELAWARE

 

75-2212772

(State of Incorporation)

 

(I.R.S. Employer Identification No.)

 

 

 

650 S. Edmonds Lane, Suite 108

 

 

Lewisville, Texas

 

75067

(Address of principal executive offices)

 

(Zip code)

 

(972) 219-3330

(Issuer’s telephone number, including area code)

 

Securities registered pursuant to Section 12(b) of the Act: None

 

Securities registered pursuant to Section 12(g) of the Act:

 

 

 

Name of Each Exchange

Title of Each Class

 

on Which Registered

Common Stock, $.001 par value per share

 

None

 

Check whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the issuer was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ý  No o

 

Check if there is no disclosure of delinquent filers pursuant to Item 405 of Regulation S-B contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-KSB or any amendment to this Form 10-KSB.  o

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No ý

 

The Issuer’s revenues for the year ended December 31, 2005 were $4.865 million.

 

The aggregate market value of the Common Stock of the Issuer held by non-affiliates at April 19, 2006 was approximately $141.3 million.

 

Number of shares of Common Stock outstanding as of April 19, 2006: 51,269,541 shares.

 

 



 

URANIUM RESOURCES, INC.

ANNUAL REPORT ON FORM 10-KSB/A

FOR THE FISCAL YEAR ENDED DECEMBER 31, 2005

 

TABLE OF CONTENTS

 

Item 8A. Controls and Procedures

 

 

 

SIGNATURES

 

Exhibit Index

 

 

i



 

Item 8A. Controls and Procedures.

 

The principal executive and principal financial officers of the Company have evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this report (evaluation date) and have concluded that the disclosure controls and procedures are adequate and effective based upon their evaluation as of the evaluation date. During the second quarter of 2005, the Company identified a weakness in disclosure controls and procedures relating to the evaluation of and application of proper GAAP reporting under FAS No. 133 Accounting for Derivative Instruments and Hedging Activities. This resulted in restatement of the Company’s financial statements for year ended December 31, 2004 and the first quarter of 2005. The Company corrected that weakness in the second quarter of 2005 and the Company has determined that the weakness was not a material weakness as provided by the guidance in PCAOB Audit Standard 2.

 

For the fiscal quarter ended December 31, 2005, there have been no changes that materially affected, or are likely to materially affect, our internal controls over financial reporting.

 

2



 

SIGNATURES

 

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: June 19, 2006

 

 

URANIUM RESOURCES, INC.

 

 

 

 

 

By:

/s/ PAUL K. WILLMOTT

 

 

Paul K. Willmott, President and Chief
Executive Officer

 

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

 

Signature

 

Date

 

 

 

 

 

 

/s/ PAUL K. WILLMOTT

 

 

Paul K. Willmott,

 

June 19, 2006

Director, President and Chief Executive Officer

 

 

 

 

 

 

 

 

/s/ THOMAS H. EHRLICH

 

 

Thomas H. Ehrlich,

 

June 19, 2006

Vice President—Finance and Chief Financial Officer

 

 

(Principal Financial and Accounting Officer)

 

 

 

 

 

 

 

 

/s/ LELAND O. ERDAHL

 

 

Leland O. Erdahl, Director

 

June 19, 2006

 

 

 

 

 

 

/s/ GEORGE R. IRELAND

 

 

George R. Ireland, Director

 

June 19, 2006

 

3



 

EXHIBIT INDEX

 

Exhibit
Number

 

Description

 

 

 

3.1*

 

Restated Certificate of Incorporation of the Company dated February 15, 2004 (filed with the Company’s Registration Statement on Form SB-2 dated July 26, 2004, SEC File Number 333-117653).

 

 

 

3.1.1*

 

Certificate of Amendment of Restated Certificate of Incorporation of the Company (filed with the Company’s 8-K dated April 11, 2006, SEC File Number 000-17171).

 

 

 

3.2*

 

Restated Bylaws of the Company (filed with the Company’s Form  8-K on April 14, 2005).

 

 

 

4.1*

 

Common Stock Purchase Agreement dated February 28, 2001 between the Company and Purchasers of the Common Stock of the Company (filed with the Company’s Annual Report on Form 10-KA dated July 26, 2001, SEC File Number 000-17171).

 

 

 

10.1*

 

Amended and Restated Directors Stock Option Plan (filed with the Company’s Form S-8 Registration No. 000-17171 on January 22, 1996).

 

 

 

10.2*

 

Amended and Restated Employee’s Stock Option Plan (filed with the Company’s Form S-8 Registration No. 333-00403 on January 24, 1996).

 

 

 

10.3*

 

Amended and Restated 1995 Stock Incentive Plan (filed with the Company’s Form SB-2 Registration No. 333-117653 on July 26, 2004).

 

 

 

10.4*

 

Non-Qualified Stock Option Agreement dated June 19, 2001 between the Company and Leland O. Erdahl (filed with the Company’s 10-QSB dated August 13, 2001, SEC File Number 000-17171).

 

 

 

10.5*

 

Non-Qualified Stock Option Agreement dated June 19, 2001 between the Company and George R. Ireland (filed with the Company’s 10-QSB dated August 13, 2001, SEC File Number 000-17171).

 

 

 

10.7*

 

Summary of Supplemental Health Care Plan (filed with Amendment No. 1 to the Company’s Form S-1 Registration Statement (File No. 33-32754) as filed with the Securities and Exchange Commission on February 20, 1990).

 

 

 

10.9*

 

License to Explore and Option to Purchase dated March 25, 1997 between Santa Fe Pacific Gold Corporation and Uranco, Inc. (filed with the Company’s Annual Report on Form 10-K dated June 30, 1997, SEC File Number 000-17171).

 

 

 

10.12*

 

Compensation Agreement dated June 2, 1997 between the Company and Paul K. Willmott (filed with the Company’s Annual Report on Form 10-K dated June 300, 1998, SEC File Number 000-17171).

 

 

 

10.13*

 

Compensation Agreement dated June 2, 1997 between the Company and Richard A. Van Horn (filed with the Company’s Annual Report on Form 10-K dated June 30, 1998, SEC File Number 000-17171).

 

 

 

10.14*

 

Compensation Agreement dated June 2, 1997 between the Company and Thomas H. Ehrlich (filed with the Company’s Annual Report on Form 10-K dated June 30, 1998, SEC File Number 000-17171).

 

 

 

10.15*

 

Compensation Agreement dated June 2, 1997 between the Company and Mark S. Pelizza (filed with the Company’s Annual Report on Form 10-K dated June 30, 1998, SEC File Number 000-17171).

 

 

 

10.16*

 

Uranium Resources, Inc. 1999 Deferred Compensation Plan (filed with the Company’s Annual Report on Form 10-K dated June 30, 1999, SEC File Number 000-17171).

 

 

 

10.16.1*

 

Amendment No. 1 to the Uranium Resources, Inc. Deferred Compensation Plan for 1999. (filed with the Company’s 10-KSB dated March 31, 2006, SEC File Number 000-17171).

 

 

 

10.17*

 

2000-2001 Deferred Compensation Plan (filed with the Company’s Annual Report on Form 10-K for the year ended December 31, 2004, SEC File Number 000-17171).

 

4



 

Exhibit
Number

 

Description

10.17.1*

 

Amendment No. 2 to the Uranium Resources, Inc. Deferred Compensation Plan for 2000-2001. (filed with the Company’s 10-KSB dated March 31, 2006, SEC File Number 000-17171).

 

 

 

10.22*

 

Uranium Resources, Inc. Deferred Compensation Plan for 2002 (filed with the Company’s Quarterly Report on
Form 10-QSB dated November 13, 2003, SEC File Number 000-17171).

 

 

 

10.23*

 

Uranium Resources, Inc. Deferred Compensation Plan for 2003 (filed with the Company’s Quarterly Report on
Form 10-QSB dated November 13, 2003, SEC File Number 000-17171).

 

 

 

10.24*

 

Uranium Resources, Inc. Deferred Compensation Plan for 2004 (filed with the Company’s Quarterly Report on
Form 10-QSB dated May 14, 2004, SEC File Number 000-17171).

 

 

 

10.24.1*

 

Amendment No. 2 to the Uranium Resources, Inc. Deferred Compensation Plan for 2002, Deferred Compensation Plan for 2003, Deferred Compensation Plan for 2004. (filed with the Company’s 10-KSB dated March 31, 2006, SEC File Number 000-17171).

 

 

 

10.26*

 

2004 Directors Stock Option Plan dated June 2, 2004 (filed with the Company’s Registration Statement on Form SB-2 dated July 26, 2004, SEC File Number 333-117653).

 

 

 

10.27*

 

Contract with UG U.S.A., Inc. for the Purchase of Natural Uranium Concentrates (U3O8) dated August 12, 2003 (filed with the Company’s Pre-Effective Amendment No. 2 to Registration Statement on Form SB-2 dated September 20, 2005, SEC File Number 333-125106). (1)

 

 

 

10.27.1*

 

Amendment No. 1 with UG U.S.A., Inc. dated August 30, 2004 to Exhibit 10.27 (filed with the Company’s Pre-Effective Amendment No. 2 to Registration Statement on Form SB-2 dated September 20, 2005, SEC File Number 333-125106). (1)

 

 

 

10.27.2*

 

Amendment No. 2 with UG U.S.A., Inc. dated April 29, 2005 to Exhibit 10.27 (filed with the Company’s Pre-Effective Amendment No. 2 to Registration Statement on Form SB-2 dated September 20, 2005, SEC File Number 333-125106). (1)

 

 

 

10.28*

 

Amended and Restated Uranium Supply Contract with Itochu Corporation dated June 7, 2005 (filed with the Company’s Pre-Effective Amendment No. 2 to Registration Statement on Form SB-2 dated September 20, 2005, SEC File Number 333-125106). (1)

 

 

 

10.31*

 

Note Purchase Agreement dated March 24, 2005 and promissory notes issued thereunder (filed with the Company’s Annual Report on Form 10-K for the year ended December 31, 2004, SEC File Number 000-17171).

 

 

 

10.32*

 

Uranium Supply Contract with UG U.S.A., Inc. dated April 29, 2005 (filed with the Company’s Pre-Effective Amendment No. 2 to Registration Statement on Form SB-2 dated September 20, 2005, SEC File Number 333-125106). (1)

 

 

 

10.33*

 

Uranium Supply Contract with Itochu Corporation dated June 15, 2005 (filed with the Company’s Pre-Effective Amendment No. 2 to Registration Statement on Form SB-2 dated September 20, 2005, SEC File Number 333-125106). (1)

 

 

 

10.34*

 

Stock Purchase Agreement by and between Uranium Resources, Inc. and accredited investors (filed with the Company’s Current Report on Form 8-K dated August 12, 2005, SEC File No. 000-17171).

 

 

 

10.35*

 

Uranium Resources, Inc. 2004 Stock Incentive Plan (filed with the Company’s Quarterly Report on Form 10-QSB/A dated November 18, 2005, SEC File Number 333-125106. (1)

 

 

 

10.36*

 

Feasibility Study Funding Agreement between Itochu Corporation, Uranium Resources, Inc. and Hydro Resources, Inc. effective March 29, 2006. (filed with the Company’s 10-KSB dated March 31, 2006, SEC File Number 000-17171).

 

5



 

Exhibit
Number

 

Description

10.37*

 

Amended and Restated Uranium Supply Contract between Itochu Corporation and Uranium Resources, Inc. effective March 1, 2006. (filed with the Company’s 10-KSB dated March 31, 2006, SEC File Number 000-17171).

 

 

 

10.38*

 

Agreement for the Sale of Uranium Concentrates between UG U.S.A., Inc. and Uranium Resources, Inc. dated March 31, 2006. (filed with the Company’s 10-KSB dated March 31, 2006, SEC File Number 000-17171).

 

 

 

14*

 

Uranium Resources, Inc. Code of Ethics for Senior Executives. filed with the Company’s Annual Report on Form 10-KSB dated March 30, 2004, SEC File Number 000-17171).

 

 

 

31.1

 

Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 

 

 

31.2

 

Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 

 

 

32.1

 

Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 

 

 

32.2

 

Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 


*                                         Not filed herewith. Incorporated by reference pursuant to Rule 12b-32 under the Securities Exchange Act of 1934.

 

(1)                                  Certain provisions have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

6