Liberty Star Uranium and Metals Corp (LBSR)

[mstoneinv]

On May 29, 2015, we issued a non-interest bearing promissory note with the principal amount of $30,000 to Brett Gross, a director of our company. The promissory note is convertible into 16,806,723 units at a price of $0.001785 per unit upon the increase of the authorized capital of our company. Each unit is comprised of one share of common stock and two warrants. Each warrant will be exercisable for a period of three years at a price of $0.002499.

So a director of the company will only loan LBSR $30K if they can get their money back in 45 days from the shareholders, and also get paid 32 million warrants as the interest for giving the company the short term loan. SHAREHOLDERS GET ALL THE DOWN SIDE. TENS OF MILLIONS OF ADDITIONAL LIABILITY SHARES! LOAN SHARKS GIVE BETTER TERMS!

AND THAT IS SUPPOSED TO BE SOME SHOW OF GREAT CONFIDENCE BY THAT DIRECTOR IN THE COMPANY? HOW IMBECILIC!