Lithium Exploration Group Inc. (fka LEXG)

[JandKsMoney]

I haven't had a chance to analyze it in detail yet, but with 580M shares sold in dilution, LEXG should have raised about $550K to $600K. Yet the convertible promissory notes actually increased by about $250K (excluding the discounts, then $150K). Where did the money raised go?

As a summary of the Tero, LEXG sold $1.5M in stock at a 35% discount to raise $1M to purchase Tero in March 2014. About a year later they sold it for $300K for a $1.2M loss. As far as I can tell this does not include Moranville which has been a cash drain on the company since its acquisition.