one thing about LEXG everyone should know. Information is not forthcoming. LEXG is in the process of changing its business model again. Originally LEXG bought a Ultrasonic Cavitation Generator (UCG) from Glotech. LEXG also secured the mineral rights to 640 hectacres in Alberta, Canada and two disposal sites. These were co-located in oil country with many oil wells and many being drilled. The plan was for the disposal sites to be an income stream and provide the waste source for the UCG to mine Lithium and other minerals as another income stream. LEXG also secured the distribution rights in Canada of the UCG. Three income streams with a sweet, low overhead, highly executable plan. There was just one catch. The UCG took years to arrive. Its development was delayed by a law suite, parts failures, design improvements, and a transportation accident. It was years behind schedule. During this time LEXG continued to need money to survive with no way of making it. It sold the disposal wells at a huge loss and, I believe, lost the mineral rights. LEXG entered into capital deals that diluted shareholder equity but it stayed alive long enough to finally receive its UCG unit early this year. LEXG still owns the distribution rights of the UCG in Canada. Glotech became SonCav and is the inventor, developer and tester of the UCG; essentially who LEXG is completely dependent upon and has very little control of. With the UCG in hand they are currently "testing" it; finding out just what it can do, and compiling the numbers needed to distribute it. Since the disposal well idea didnt workout an oil well is now being secured to have the source oil to demonstrate the UCG capabilities for distribution and, as an income stream, improve the oil quality and sell the oil at a higher price. Everything with this company has always taken much much longer than thought. The information coming out of the company is very thin because they have always been dependent upon SonCav who has not performed and left LEXG looking incompetent. This is the condenced history as I remember it. After six months of final "testing" there is still no good news and weak insignificant information about it. No one really knows jack about the UCG. This could become huge any day....or it could continue to be a "ghost" forever.
AI
