Liberty Star Uranium & Metals Corp.

Combining Classic Mineral Exploration with State of the Art Technology

Free
Message: Mr. Big- Dealmaker

from the SEC filings (empahsis added):

'On June 30, 2020, the Company entered into an agreement to issue a total of 51,000,000 shares of its Class A Shares to two directors of the Company. The aggregate consideration paid for the Class A Shares was $49,062 ($0.000962 per share). The consideration was paid by offsetting the purchase price against Company advances and notes held by the two directors (see Note 4).'

from Note 4:

'During the six months ended July 31, 2020, our CEO, Brett Gross, made various payments on behalf of the Company totaling $89,958, and advanced the Company $10,000 in cash, all of which are reflected as advances from related party on the accompanying consolidated balance sheet. The total advances were $177,058 and $101,631 as of July 31 and January 31, 2020, respectively, bear no interest and have no specified repayment date. On June 30, 2020 the Company issued 25,500,000 shares of its “Class A Common Stock” to our CEO for repayment of $24,531 of advances ($0.000962 per share).

During the six months ended July 31, 2020, the Company received proceeds of $55,000 from a director under a promissory note extended with interest at 10%. ... On June 30, 2020 the Company issued 25,500,000 shares of its “Class A Common Stock” to one of the directors for repayment of $24,531 of their promissory note ($0.000962 per share).'

Share
New Message
Please login to post a reply