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SEC Comment Letter for UNITED STATES ANTIMONY CORP (UAMY) (CIK 0000101538) (UAMY) — Mar 21, 2013

UNITED STATES ANTIMONY CORP (UAMY) (CIK 0000101538)
Date: March 21, 2013 · CIK: 0000101538 · Accession: 0000000000-13-015228

AI Filing Summary & Sentiment

Referenced dates: February 27, 2013

Date
December 31, 2011
Author
/s/ Pamela Howell
Form
UPLOAD
Company
UNITED STATES ANTIMONY CORP (UAMY) (CIK 0000101538)

Letter

March 21 , 2013 Via E -mail Mr. John C. Lawrence Chief Executive Officer United States Antimony Corporation P.O. Box 643 Thompson Falls, MT 59873

Re: United States Antimony Corporation Amendment No. 1 to Form 10 -K for Fiscal Year Ended December 31, 2011 Filed January 8, 2013 Response submitted March 6 , 2013 File No. 001 -08675

Dear Mr. Lawrence :

We have reviewed your filing an d supplemental response and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure.

Please respond to this letter within ten business days by providing the requested information or by advising us when you will provide the req uested response. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response.

After reviewing the information you provide in response to these comments, we may have additional comments.

Amendment No. 1 to Form 10 -K for Fiscal Year Ended December 31, 2011

Item 11. Executive Compensation, page 31

1. We note your response to comment one in our letter dated February 27, 2013, and we reissue the comment. While you have provided the table requ ired by Item 402(p) of Regulation S -K in the response to comment two, your response to comment one stated that there were no grants of plan based awards. Please note that Item 402(p) refers to the outstanding equity awards table, not the grants of plan ba sed awards table. In addition, we note that you made restricted stock awards to two executive officers in fiscal year 2011, one of whom appears to be Russell Lawrence, according to the summary compensation table disclosure. Please provide us with draft t abular disclosure that you will include in a further amended Form 10 -K to provide the information required by Item 402(p) of Regulation S -K. Please include the information required by Item 402(p) of

Mr. John C. Lawrence United States Antimony Corporation March 21 , 2013 Page 2

Regulation S -K for Russell Lawrence or advise us why suc h information is not required to be disclosed.

2. We partially reissue comment two in our letter dated February 27, 2013. The dollar amounts for the draft summary compensation table do not appear consistent with the prior summary compensation table, which reflected amounts in the all other payouts column, and the totals do not match up. Please revise or advise.

Item 12. Security Ownership of Certain Beneficial Owners and Management, page 31

3. We note your response to comment three in our letter dated Feb ruary 27, 2013. Your disclosure that shares of Series B Preferred stock beneficially owned by Excel Mineral Company represent 1% of all voting securities would appear to be inconsistent with your disclosure in footnote 5. Please revise or advise us of th e basis for your disclosure. Please revise to include the requisite information with respect to the shares of Series C Preferred stock beneficially owned by Richard A. Woods. Please revise to include more precise percentages. In this regard, please spec ify the precise percentage in lieu of indicating “nil.” Please note that if the percentage does not exceed one percent, you may indicate this fact by means of an asterisk and explanatory footnote or similar means in lieu of furnishing a precise percentage . Please revise to include the requisite information with respect to the directors and executive officers as a group, including Series D Preferred stock.

We urge all persons who are responsible for the accuracy and adequacy of the disclosure in the filing to be certain that the filing includes the information the Securities Exchange Act of 1934 and all applicable Exchange Act rules require. Since the compa ny and its management are in possession of all facts relating to a company’s disclosure, they are responsible for the accuracy and adequacy of the disclosures they have made.

Please contact Tiffany Piland at (202) 551 -3589 or Pamela Howell at (202) 551 -3357 with any questions.

Sincerely,
/s/ Pamela Howell
for

Show Raw Text
March 21 , 2013

Via E -mail
Mr. John C. Lawrence
Chief Executive Officer
United States Antimony Corporation
P.O. Box 643
Thompson Falls, MT 59873

Re: United States Antimony Corporation
 Amendment No. 1 to Form 10 -K for Fiscal Year Ended December 31, 2011
Filed January 8, 2013
Response submitted March 6 , 2013
File No. 001 -08675

Dear Mr. Lawrence :

We have reviewed your filing an d supplemental response and have the following
comments.  In some of our comments, we may ask you to provide us with information so we
may better understand your disclosure.

Please respond to this letter within ten business days by providing the requested
information  or by advising us when you will provide the req uested response.   If you do not
believe our comments apply to your facts and circumstances, please tell us why in your response.

After reviewing the information you provide in response to these  comments, we may
have  additional comments.

Amendment No. 1 to Form 10 -K for Fiscal Year Ended December 31, 2011

Item 11. Executive Compensation, page 31

1. We note your response to comment one in our letter dated February 27, 2013, and we
reissue the comment.  While you have provided the table requ ired by Item 402(p) of
Regulation S -K in the response to comment two, your response to comment one stated
that there were no grants of plan based awards.  Please note that Item 402(p) refers to the
outstanding equity awards table, not the grants of plan ba sed awards table.  In addition,
we note that you made restricted stock awards to two executive officers in fiscal year
2011, one of whom appears to be Russell Lawrence, according to the summary
compensation table disclosure.  Please provide us with draft t abular disclosure that you
will include in a further amended Form 10 -K to provide the information required by Item
402(p) of Regulation S -K.  Please include the information required by Item 402(p) of

Mr. John C. Lawrence
United States Antimony Corporation
March 21 , 2013
Page 2

 Regulation S -K for Russell Lawrence or advise us why suc h information is not required
to be disclosed.

2. We partially reissue comment two in our letter dated February 27, 2013.  The dollar
amounts for the draft summary compensation table do not appear consistent with the
prior summary compensation table, which  reflected amounts in the all other payouts
column, and the totals do not match up.  Please revise or advise.

Item 12. Security Ownership of Certain Beneficial Owners and Management, page 31

3. We note your response to comment three in our letter dated Feb ruary 27, 2013.  Your
disclosure that shares of Series B Preferred stock beneficially owned by Excel Mineral
Company represent 1% of all voting securities would appear to be inconsistent with your
disclosure in footnote 5.  Please revise or advise us of th e basis for your disclosure.
Please revise to include the requisite information with respect to the shares of Series C
Preferred stock beneficially owned by Richard A. Woods.  Please revise to include more
precise percentages.  In this regard, please spec ify the precise percentage in lieu of
indicating “nil.”  Please note that if the percentage does not exceed one percent, you may
indicate this fact by means of an asterisk and explanatory footnote or similar means in
lieu of furnishing a precise percentage .  Please revise to include the requisite information
with respect to the directors and executive officers as a group, including Series D
Preferred stock.

We urge all persons who are responsible for the accuracy and adequacy of the disclosure
in the filing to be certain that the filing includes the information the Securities Exchange Act of
1934 and all applicable Exchange Act rules require.   Since the compa ny and its management are
in possession of all facts relating to a company’s disclosure, they are responsible for the accuracy
and adequacy of the disclosures they have made.

 Please contact Tiffany Piland  at (202) 551 -3589 or Pamela Howell at (202) 551 -3357
with any questions.

Sincerely,

 /s/ Pamela Howell
 for

John Reynolds
Assistant Director