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I see that too. Positive bullish.
It was difficult to obtain shares yesterday.
My bids set above the highest bid price had no takers for over an hour so i had to slap the ask to get in.
Musing over the possibilities of this company... the idea of the electric car era breaking out of the cookie-cutter sameness mode of gas powered car models today seems to be such an attractive feature. Think of it: buyers wno longer having to settle for all the same models that others are driving en masse with the only "individuality" being choice of color. Instead a car body atop an electric motor that's modeled as a modern replica of your choice of one of the classic styles of 25 years ago, or more. That's kid in a candy store type thinking. Genius actually.
As soon as these ECite cars start hitting the streets next year and their wild popularity becomes evident one of the big auto makers is going to buy the company and fold it into their umbrella.
And then the big boys legal team will deal with getting the mass production clearances.
Gene "the Batmobile" maker's strength is designing the models, and car safety. So he's smartly using his expertise in both and taking advantage of the new federal law offering the low volume safety loophole at the same time to get samples of this brilliant car sales idea onto the street, faster than anyone else, in 2023, and then let the Big Boy bidding wars commence!
Think about it: why the hell should so many massive numbers of cars on the road have to look exactly the same? Who really wants sameness, except for when youre talking internal parts and battery mileage and consustency of perrformance on the inside of the car the stuff you cant see?
It's a GREAT idea for a new age of vehicles.
You're welcome. All in.
Excellent green price action on a FRIDAY.
Bodes very well for next week.
Dry bulk tankers are earning averages of $22K per day for their companies, add $8M per year each to the bottom line.
Understood. i should've made.my post a response to one of yours. Thank you for posting that on RECHF!
.
If i need to subscribe to the DD Amanda service to see for myself, i understand.
The Amanda charting concept makes perfect sense to me, as one of the things i have always done routinely before buying any new-to-me stock is to check up on its recent and longer term share price and volume trading history. You can glean a lot of important info and foresight on how it may be trending in this way.
All that said I believe RECHF would have scored a 17 on the Amanda chart on Monday followed by a 5 today. Certainly reason to sit up and take notice and to make one want to learn more.
Lithium powered EV batteries are not going away, and it's an exciting prospect as an investor to think maybe I have stumbled onto a lithium producing winner in the earliest stages of its development.
Recharge Resources' new CEO David Greenway has "recharged" and reenergized the stock since taking over earlier this year after its 1:10 split.
Check the price history, volume and news from $RECHF over the past few months for yourself. There are many catalysts going on here. That lithium off-take agreement Greenway published only a few days ago was HUGE for a company that is currently operating at only a $15M market cap. And this news has not really been reflected in the share price yet. But the Amanda factor would seem to indicate it is only a matter of time in the near term..
The agreement calls for Recharge to ship, from their Argentina lithium brine project, 10 to 20 thousand tons annually of 99.5% pure (using their "Ekosolve" technology licensing agreement) lithium chloride, or lithium carbonate, to two big China clients.
The probable market value of that deal? = $70K a ton.
Anyone do the math on this?
$70K multiplied by 15K tons of lithium (i figured go with the middle of the annual "10-20K tons" range), the sum total is: $1,050,000,000
That'd be over $1 BILLION a year.
From just ONE drill site in Argentina.
Recharge meanwhile has thousands more hectares of lithium, cobalt and nickel sites in Canada.
And check out this professionally done website:
https://recharge-resources.com/
You just don't see a site like this from a penny stock usually.
I think this company is a genuine find, and will be a $2 to $5 stock soon. Which would be about a $60 to $150M market cap
Could you please post a RECHF dd Amanda chart?
It's also RR on the Canadian stock exchange TSX.
Thank you
News and fundamentals indicating this will soon be a $5 stock.
Lithium agreement for 10-20K tons annually with two clients. At approx $70K per ton.
That's around $1B from just one mining site. They have several.
$15M market cap.
29M shares outstanding.
Recent volume uptick reflected immediately in the $RECHF chart.
It also trades even more actively as RR on Canada's TSX.
Next quarterly report due sometime between Oct. 10 to Oct 20, according to the market chameleon website.
So yeah getting close, five trading days. Midweek next week could get interesting. Low .30s likely to be looking woulda coulda shoulda by then.
Meanwhile other oil shipping companiesike TOPS reporting that due to the currently highly favorable world oil shipping sector conditions they're raking $$$ in.
And in IMPP's last quarterly on July 27 they pointed out positive net income, 0$ loss per share and increasing revenues.
Plus, this is a biggie to me the 7/27 Q stated:
"As of June 30, 2022, cash and cash equivalents amounted to $79.1 million and total debt, net of deferred finance charges, amounted to $25.5 million. During the six months ended June 30, 2022 debt repayments amounted to $2.4 million."
Which means $80 million cash minus $25 million debt, or $55M divided by IMPPs 190M outstanding shares, means at 30 cents a share that is pure cash value not even counting the value of the tankers they own and the $80 million to over $100 million in annual revenue theyre in the middle of doing.
This is NOT a penny stock, so why can you steal it right now in the low .30s?
Because of the sheep mentality coupled with that fact the OTC market has SUUUUUUCCKKED this year.
IMPP is WAY WAY undervalued!
Luv reading that Better Days Are Ahead for IMPP day after day and hour after hour.
According to how the oil shipping news is trending, and how undervalued IMPP is now with 10 tankers running and all that cash on hand, and only 190M shares out...
you're exactly right!
# # #
Frontline flips to profit as tanker rates rebound
LR2 tankers took centre stage, company says, achieving record rates for the quarter, while suezmax utilisation increased
25 Aug 2022
‘We have over the past several quarters pointed to what we believe will be a cyclical upturn for tankers, and this view has only been further cemented during the first half of the year,’ says chief executive Lars H. Barstad.
Did some interesting reading and viewing on Volt today and tonight since it appeared on the IHub radar...
The one concern I have after a preliminary review of the stock is Volt's lithium ion battery commercialization timetable... Especially after hearing Pfaffenberger, the ceo in this, apparently freshly posted YouTube video, LEANING INTO his comment at 1:15 that: "that (lithium battery) technology is YEARS away from commercialization."
Also the host had such a short time window for Pfaffenberger to talk that before the sendoff thanking him for his time he never got around to asking him about the commercialization timetable or revenue potential of the Graphite flaking technology the interview focused on.
This company does have great potential, the question in this stingy OTC market is it far enough along timewise to generate a sustained run on the stock?
Noticed this too about the other lithium stocks.
For SYAXF it only feels like seven down days but it's actually the fourth.
It closed at .2329 on Wed 9/14
Then .2175 and .1837 on Thurs and Fri.
On the ASX, the Aussies took it from a Sept. 2 close of .2550 ($AUS) on a 7-trading days run up to .375, midday last Tues 9/13 on massive volume. Since then, four down days on the ASX Wed-Fri and again last night.
Don't get shaken. It's pretty much impossible to time every dip and stair step perfectly, but overall this is headed upward, strongly, into 2023.
Sayona is in the process of becoming an $8 to $12 billion market cap lithium producer and right now Yahoo Finance is pegging its MC at $1.45B.
It's a $1+ stock in the making. Which translates to a GREAT buying opportunity at a share price anywhere in the teens.
That was some huge-ass volume!
Works out to the equivalent U.S. dollar volume of $137M! wow
674,000,000 X .30 = $202,200,000 (AUS)
$202,200,000(AUS) X .68 (conversion rate) = U.S. $137,496,000
BIG BIG BUCKS!!!
It's that Lithium baby! Gotta get it, gotta have it! Bring on 2023!
Based on the respective average volumes traded of Sayona and Pilbara on the OTC and ASX it appears people here are treating the these two as if they're some sort of fringe plays, not real companies, meanwhile Down Under they're regarded like Big Board stocks, legit precious mineral companies.
Based on all evidence, the Aussies have it right and OTC players haven't yet wised up to that reality.
I don't buy or sell on the ASX just an observer of it, TC.
This stock is providing the most Up North/Down Under dual exchange trading excitement for shareholders since EEENF in 2021.
Very interesting information on the disparity in trading "enthusiasm," as one might describe it, between the two stock exchanges as shown by your extensive list.
In regard to SYA/SYAXF of late, it seems to have become a pattern that the Aussies are buying and bidding it up every night in big numbers followed by timid and fearful lower volume OTC traders selling off the ASX's gains. To me this stock should be fairly valued at .35+ U.S. at this point in time.
With one hour of trading left on the ASX volume of 200 million Sayona Mining (SYA) shares traded, and converted from Aussie currency around $50 million worth of U.S. dollar volume.
wow
Have you noticed the enormous trading volume disparity between how Sayona trades in Australia compared to the U.S. OTCBQ?
Yes, the Aus to U.S. conversion rate is .68 but still... just last nite /early Monday on the ASX the trading volume of SYA was 175 Million.
Or converted to U.S. dollar value (175 Million shares traded X the .35 ASX share price, converted at 68 percent) was equal to $41 million.
In the OTC SYAXF is averaging volume of 1.4 million or about $350 thousand per day.
Market Watch lists SYA's average daily trade volume in Aus as 70 Million. Which translates to a roughly $16 Million U.S. dollars per day equivalent.
It's evident Sayona Mining still hasn't really even been discovered in North America yet.
And I'd bet you a lot of the folks who are selling off their SYAXF in daytrades, such as today after another 8 percent gain on the ASX don't even KNOW that Sayona's stock is trading on exchanges worldwide.
Or that analysts are seeing 60 to 80 cents for this lithium producer short-term.
Hyperfocusing on the ceo is a mistake.
The average NFL franchise is now worth $4 billion.
What if I told you there was a new NFL franchise, the Atlas Lithium Miners, entering the league next year and you had the opportunity to invest.
The downside is, somebody keeps posting on message boards that the ceo/team president is "a crooked POS." The upside is, your get-in-early investment price to buy shares is at the valuation of $55 million.
Now how much do you still want to focus on the ceo?
If you think putting the NFL in the same popularity category as the Lithium business is not a fair analogy, wake up and smell the Elon Musk, and think again.
Imagine you're a ceo of a mining co. with multiple holdings in nickel copper iron ore and quartzite and you acquire a lithium mining footprint in Brazil that's right beside and bigger than what Sigma has, with mega tons of the hottest mineral commodity on the planet, and you're about to uplist your company to Nasdaq, and in the meantime you agree to receive $0 in salary and get paid by selling shares on a pre scheduled SEC Form-whatever and then...
you click on a website and there are posters there calling you "crooked" and a "piece of shit"?
Welp, as they say, no good deeds go unpunished.
Shows you need a thick skin to be in the public eye. Especially in these times of anti social media.
I read his contract pays him $0 in salary per year.
If you add up all his form 4 sales for the year it probably will amount to less than what most ceos make. Some don't like the way he gets paid. As we have heard from some posters.
Very often.
Many many times.
Brazil Minerals’ subsidiary Jupiter Gold is expecting the final permit for its quartzite mine shortly. Yesterday Joel Monteiro (VP) and Marc Fogassa (CEO) visited the planned operational area with its future mining manager and a local land owner. $BMIX $JUPGF #quartzite pic.twitter.com/G7wIxnELbs
— Atlas Lithium (Nasdaq: ATLX) (@Atlas_Lithium) August 29, 2022
His contract was made public. He gets $0 salary. He is forced to get his salary via pre scheduled sales of his shares.
Arguments could be made either way about whether that is a good or bad thing for the investors.
I look at it as a good thing. 100 percent performance incentive.
They're right beside each other in Brazil...
SIGMA: 27 mineral rights spread over 191 kilometers.
BRAZIL Minerals / Atlas Lithium: 48 mineral rights spread over 190 km
Sigma Lithium market cap (8/26/22): $3.16 billion.
BMIX market cap (8/26/22): $55 million
Identical resource footprint, SGML valued 57 times higher.
# # #
On Sept. 15th next month Sigma execs are scheduled to ring NASDAQ's opening bell in NYC, marking their one year anniversary of uplisting, and about 10 years as a company.
Yes BMIX is steps behind and awaiting its SLR report, but if you look at Sigma and then at BMIX's ceiling high collection of lithium samples, and the daily articles about the growing demand for lithium, you get a very clear picture of where this stock is headed.
# # #
"Sigma has significant potential for additional future expansion and growth, as it owns 27 mineral rights spread over 191 km^2 (which include mining concessions, applications for mining concessions, exploration authorizations and applications for mineral exploration authorizations). The Project area includes nine past producing lithium mines.'
# # #
Barrons.com and Microcap Daily articles:
"... technical studies currently ongoing at the Neves Area, part of Brazil Minerals’ 100%-owned Minas Gerais Lithium Project which consists of 48 mineral rights spread over 190 km2 (46,659 acres). BMIX recently filed a S-1/A regarding the application to up list its shares to NASDAQ."
Look at that photo again of the quality lithium samples that are piled up to the ceiling.
Look at the price of lithium per ton.
Down the road as soon as they do announce a startup date for mining what is sure to be TENS OF BILLIONS OF DOLLARS WORTH OF LITHIUM you'll be paying 50 cents to a buck a share for BMIX.
At this share price the company's market cap is about $60M.
It's called getting in early. Or not. Your choice.
Welp, that 2021 price that I found of $17K per lithium ton sure got outdated fast!
wow $81K in May
Thanks for correcting that AqH
# # #
(from)
https://capital.com/lithium-price-forecast
The battery-grade lithium prices have eased in the past weeks despite ongoing supply shortage and robust global electric vehicle sales.
The weekly prices for lithium hydroxide (a minimum of 56.5% LiOH2O battery grade) averaged $75,000 per tonne ($75 a kilogram) cost, insurance and freight (CIF) basis on 7 July, down from $81,500 on 7 May, according to the London Metal Exchange (LME) and price reporting agency Fastmarkets.
Lithium carbonate prices in China retreated to CNY475,500/tonne ($70,905.61) in late June, from a record high of CNY500,000 in March, according to economic data provider Trading Economics.
Here's some math: SIGMA Lithium 500K tons of Lithium annually.
Multiplied by $70K per ton = $35 BILLION per year. whaaaat?
Makes this SGML chart make perfect sense. Believing that BMIX can and will do same.
BMIX is standing out right now for bucking the downtrend in the OTC.
So it's hitting stock screeners' radars and finding the eyes daily of more and more long form investors who are liking what they're reading and finding out.
That goes for me too. Did some reading on their neighbor, Sigma Lithium tonight, and it got me excited about how Sigma's success will probably reflect very favorably on BMIX. Sigma is in the midst of two mining operations in Brazil that are each expected to generate about 250 thousand tons of lithium annually, or 500K tons combined over the next 13 years.
With lithium selling for $17K per ton? WOW
Just knowing that BMIX now has accumulated a whopping 70 thousand acres of mineral rights in Brazil including in the same immediate lithium rich geographical neighborhood as Sigma -- in addition to BMIX's holdings in gold nickel and iron ore mines -- tells you they are probably deserving of a lot higher market cap than $66 million.
A $200 million market cap in the short term, or between .05 and .06 cents a share, would be a much fairer valuation at this moment in the company's evolution.
The more attention the stock gets, the better the chances that other investors will see this value for themselves and bring us there.
Hey where's that poster that tells us every 10 minutes how much the ceo sucks?
He on a one week summer vacation?
Where did i predict a reverse merger in a few weeks?
Not what I said at all.
I pointed out that a shell does not acquire, it GETS acquired.
That's it.
And saying the company George is trying to acquire will be worth $5 million or less is negative spin and ludicrous.
If a venture capital company acquired/purchased the shell from George to take on the business of completing the reverse merger that would fit within the wording of George's tweet also. And yeah the finalized merged might not happen til next year. No one is predicting the timetable of that.
The only prediction is the WNFT shares will be worth a lot more down the road than they are today.
$WNFT UPDATE: The company will be making an acquisition in the next 2-3 weeks. In other words, a NFT Company will be taking over WNFT in exchange for equity and/or cash. WNFT is a SHELL. It can't buy smaller companies because IT is too small. Don't be dumb. READ! Merger coming! https://t.co/6gZQ3KFCPY pic.twitter.com/na4rxFaIVY
— CoachBarry18 (@CoachBarry18) August 19, 2022
" ... proceed with a business plan that will include an acquisition."
If you read into that that WNFT is the one doing the acquiring, then you should sell.
I read it as the plan is for WNFT to be acquired.
The WNFT shell minus Calasse is very valuable to the right company.
The larger company "acquires" the smaller. The acquirer purchases the shell.
Those talking about WNFT trying to acquire a company for $5 million have it comically back assward.
Don't make assumptions and events can happen that change things were the lessons of July 8 weren't they?
It seems you're making more assumptions here than I am.
George has gone from referencing a conference call still hunting for merger candidates to talking about going forward with an acquisition plan.
For me it's positive that George uses this wording, "acquisition" rather than merger.
It indicates that a larger firm (a private, fully operational company) will be acquiring and taking over all assets of the smaller entity (the WNFT shell).
If there was no WNFT-purchasing company lined up and involved in a "business plan" with George, then George would still be tweeting about engaging in discussions with a number of different merger candidates, rather than referencing an "acquisition" plan.
Here is Forrester Consulting's definition of the distinction between a reverse "merger" and an "acquisition":
"A merger or acquisition is an agreement between two separate businesses that combine into one entity. Even though the terms 'merger' and 'acquisition' are often used as synonyms, they have different legal definitions. A 'merger' is when two companies of similar sizes join together to form one new entity. 'Acquisitions' occur when one business absorbs another and takes control over the acquired company’s stocks and assets."
And here also is Investopedia's distinction between "merger" and "acquisition":
"The terms "mergers" and "acquisitions" are often used interchangeably, but they differ in meaning. In an acquisition, one company purchases another outright.
A merger is the combination of two firms, which subsequently form a new legal entity under the banner of one corporate name.
In an acquisition, a new company does not emerge. Instead, the smaller company is often consumed and ceases to exist with its assets becoming part of the larger company."
If the acquiring company was who I thought then the correct term for their taking over and inhabiting the former GOFF, now WNFT shell was always "acquisition" rather than "merger."
I took "(s)" to mean the sum of the WNFT shell and all common shares and the preferred shares -- all of its elements.
Hence the (s) legalese.
The acquisition refers to the private NFT company acquiring the WNFT shell, not the other way around.
The business plan is, to be acquired.
I bought back in at 3:30.
All in
Again
F*** me.
Couldn't stay away
I needed a timeout.
Thanks for your post.
Remain super curious to learn who the NDA was/is with.
Don't know if id agree to "whale," keep the bodyfat down to around 10 percent year round.
Nah. That was me.
Two similar conclusions I drew from looking at Brazil Minerals' share price potential and Fogassa's compensation package: that both are very unusual, and in good ways.
1. As of two years ago, Fogassa's BMIX ceo contract went to no cash salary, stock-only compensation.
2. Brazil Minerals is sitting on a multiple precious minerals "gold mine" that's not just gold, but mostly lithium, iron ore, nickel and gold. That is a collection of assets that is rising in value almost every day, even as I type this. Kinda hard to **** that up in a world that's trending ever more rapidly toward electric vehicles, almost no matter who your CEO is.
You can look at the no cash-salary/ stock only compensation cynically, if you choose, of course. I see it in a more positive light, as uniquely incentive-laden and a "Duty of Loyalty and Best Efforts" contract that more CEOs ought to be made to abide by. These are pre-set sales by Fogassa. He's got bills to pay too no doubt. But he's making thousands not millions. Other CEOs are sucking off their company's teat for 10s of millions a year-- and they probably also get way more than just "four weeks vacation, that can be taken only one week at a time."
It really comes down to putting out that finalized SLR mining report, and doing some actual drilling and producing. The NASDAQ move/Altas Lithium name change stuff wouldn't hurt either.
In the end, we invest in a penny stock because of positive chart movements, driven by evidence that a stock is being undervalued because of the company's holdings and indications it's making progress. And so Fogassa does need to produce evidence of same to get BMIX really moving, this is true. All this is more likely to happen than not at this point, in my estimation, and obviously in other BMIX holders' view.
Just on the face of the overall potential everyone can see, BMIX should be a .03 to .05 cent stock right now, short term, this fall. The chart indicates this too.
Hopefully Fogassa actually reads some of the criticism you voiced here and it lights a fire under him... It would me!
# # #
""If the CEO is selling company stock, should you? - CNN" https://amp.cnn.com/cnn/2019/05/22/success/wealth-coach-insider-selling/index.html
"... Most insider selling isn't really all that devious in nature — or illegal for that matter.
Nick Clay, a portfolio manager with Newton Investment Management, said company executives often have a legitimate reason to sell stock.
They may need to pay taxes or want to diversify their portfolio, for example. Many prominent insiders even have preset plans to periodically sell shares."
# # #
"Does Insider Selling Mean It's Time to Sell?" https://www.thebalance.com/insider-selling-and-your-investments-4134435
"Why would a CEO sell stock?
Every CEO will have their own reason each time they sell stock. There are plenty of reasons to sell that have nothing to do with the underlying business. Maybe a CEO simply wants to sell a chunk of shares to buy a new home or diversify their investments. They might be essentially cutting themself a paycheck by selling shares and pocketing the cash."
# # #
Justia Forms Business Contracts Brazil Minerals, Inc. Amended and Restated Employment Agreement Between Marc Fogassa
Amended and Restated Employment Agreement Between Marc Fogassa and the Company
Contract Categories: Human Resources - Employment Agreements
EX-10.1 5 ex10-1.htm
Exhibits 10.1
AMENDED AND RESTATED EMPLOYMENT AGREEMENT
This Employment Agreement (“Agreement”) is made and entered into on December 31, 2020, between BRAZIL MINERALS, INC., a Nevada corporation, whose principal place of business is at Rua Vereador Joao Alves Praes, 95-A, Olhos D’Agua, MG 39.398-000, Brazil (hereinafter referred to as “Employer”) and MARC FOGASSA, a California resident, whose mailing address is at 1443 East Washington Boulevard, Suite 278, Pasadena, CA 91104 (hereinafter referred to as “Employee”).
In consideration of the mutual covenants set forth below, Employer and Employee enter into the Agreement as set forth below.
1. START
This Agreement shall be effective on December 31, 2020.
2. TITLE AND DUTIES
A. Title
The Employee shall be employed in the capacity of Chief Executive Officer, Chairman, Chief Financial Officer, Treasurer, and Secretary.
B. Essential Job Functions and Duties
The essential job functions and duties expected of the Employee shall be such as customarily performed by persons in similar such positions, as well as such other duties as may be assigned from time to time by the Employer.
C. Supervision and Reporting
The Employee shall report to the Board of Directors of the Employer.
D. Duty of Loyalty and Best Efforts
Employee shall devote working time, attention, knowledge, and skills to Employer’s business interests and shall do so in good faith, with best efforts, and to the reasonable satisfaction of the Employer. It is understood that the Employee has other business interests that may demand substantial time and may present conflicts of interest to the Company.
3. COMPENSATION TERMS
A. Annual Base Cash Compensation
The Employee shall receive no cash compensation.
B. Non-Cash Compensation
The Employee shall receive on the 1st of each month non-qualified stock options to purchase 25,000,000 (twenty-five million) shares of common stock of the Company at an exercise price equal to $0.00001 (one hundred thousandth of one penny) and a ten-year expiration time. These options shall be exercisable for cash or on a cashless exercise basis. The number of shares subject to the option and current strike price shall be subject to appropriate adjustment in the case of stock splits, stock dividends and recapitalizations.
At the request of the Employee, the Employer shall from time to time at its sole expense file one or more S-8 registration statements or their equivalents to cover the issuance of common stock to the Employee upon the exercise of the options that are granted pursuant to this Agreement as well as the resale of such shares by the Employee.
C. Incentive Compensation
Definitions:
i) “Book Value” (or “BV”) shall mean the shareholders’ equity as set forth in the audited financial statements of the Company as of the end of the applicable fiscal year;
ii) “High-Water Mark” (or “MWM”) shall mean the first or the highest annual Book Value;
iii) The initial BV shall be the Book Value as of December 31, 2019 as per audited financial statements (the “Initial BV”);
iv) The initial HWM shall be equal to the Initial BV (the “Initial HWM”).
The Employer shall pay annually to the Employee the following Book Value-related incentive compensation (the “BV-Related Incentive Compensation” or “BVC”), determined as of the last day of each fiscal year of the Employer:
a) If the newly calculated BV (the “New BV”) is lower than a 10% (ten per cent) growth above the HWM, the BVC shall be zero;
e) If the New BV is equal to or higher than a 10% (ten per cent) growth above the HWM, the BVC shall be equal to the value of 20% (twenty percent) of the difference between the New BV and the last HWM; with any such BVC payable 50% (fifty percent) in cash and 50% (fifty percent) in fully vested common stock of the Employer at a price per share equal to the average of the closing price per share for the last 20 (twenty) trading days.
D. Expense Reimbursement
Employee shall be entitled to reimbursement of expenses incurred in the performance of the functions and duties under this Agreement. In order to receive reimbursement, Employee must timely provide Employer with an itemized account of all expenditures, along with suitable receipts therefore.
E. Residence Abroad
If and when Employee establishes a primary or secondary residence outside of the United States of America, in connection with its functions at the Employer, the Employer shall pay for such housing and related expenses on behalf of the Employee for an amount not greater than $5,000 (five thousand dollars) per month.
F. Retirement Funding
Employer shall deposit annually the maximum allowable SEP IRA contribution at an individual retirement account designated by Employee and for the benefit of Employee.
4. BENEFITS
A. Vacation
The Employee has four (4) weeks of vacation per year, which may be taken one (1) week at a time. The Employee must provide in writing at least two (2) weeks of notice of his intent to take vacation unless there are emergency circumstances.
B. Insurance
As soon as practicable, the Employer shall designate Employee in a “key man” insurance policy for an amount no less than US$1,000,000 (one million dollars) payable to the Employer. Unless declined by Employee, the Employer shall pay all costs of reasonable medical, dental, vision, long-term disability, and short-term disability to Employee and to Employee’s spouse or partner and children under the age of 21, at reasonable plans chosen by Employee. Unless declined by Employee, the Employer shall pay the annual premium costs of a life insurance policy for Employee in the amount of USD$5,000,000 (five million dollars) for payment to Employee’s designated beneficiaries.
5. PROPERTY RIGHTS
A. Records and Accounts
Employee agrees that all those records and accounts maintained during the course of employment are the property of Employer.
B. Return Upon Termination
Employee agrees that upon termination they will return to Employer all of Employer’s property, including, but not limited to, intellectual property, trade secret information, customer lists, operation manuals, records and accounts, materials subject to copyright, trademark, or patent protection, customer and Employer information, business documents, reports, and other items as applicable.
C. Copyrights, Inventions and Patents
Employee understands that any copyrights, inventions or patents created or obtained, in part or whole, by Employee during the course of this Agreement are to be considered “works for hire” and the property of Employer. Employee assigns to Employer all rights and interest in any copyright, invention, patents or other property related to the business of the Employer.
6. INDEMNIFICATION FOR THIRD PARTY CLAIMS
Employer hereby agrees to indemnify, defend, save, and hold harmless Employee from and against all claims, liabilities, causes of action, damages, judgments, attorneys’ fees, court costs, and expenses which arise out of or are related to the Employee’s performance of this Agreement, failure to perform job functions or duties as required, or result from conduct while engaging in any activity outside the scope of this Agreement, before, during or after the termination of this Agreement. Employer understands that this obligation of indemnification survives the expiration or termination of this Agreement.
7. MEDIATION AND BINDING ARBITRATION
Employer and Employee agree to first mediate and may then submit to binding arbitration any claims that they may have against each other, of any nature whatsoever, other than those prohibited by law or for workers compensation, unemployment or disability benefits, pursuit to the rules of the American Arbitration Association in Los Angeles, California, United States of America.
8. TERMINATION
A. Severance
If Employee is terminated by Employer, the Employer shall immediately make a payment to Employee equal to USD$500,000 (five hundred thousand dollars). If upon the completion of a change of control, or other corporate event, Employee is not the Chief Executive Officer of the Employer, or the Chief Executive Officer of the new controlling person of the Employer, as the case may be, then the Employer shall immediately make a payment to Employee equal to USD$2,000,000 (two million dollars).
9. MISCELLANEOUS PROVISIONS
A. Notices
Employee agrees that any notices that are required to be given under this Agreement shall be given in writing, sent by certified mail, return receipt requested, to the principal place of business of the Employer or mailing address of the Employee as set forth herein.
BRAZIL MINERALS, INC.,
Rua Vereador Joao Alves Praes, 95-A
Olhos D’Agua, MG 39.398-000
Brazil
MARC FOGASSA
1443 East Washington Boulevard, Suite 278
Pasadena, CA 91104
"Rule of thumb / 45 days" from June 30th...
We're right about there for the S-K 1300 SLR report, right?
Someone knows something.
Green price action today.
Boom!
Should be a 3 cent stock very soon given the prospects here. A $100M market cap is really not too much to expect.
"18.75m hit in Brazil’s Minas Gerais region"
https://thewest.com.au/business/public-companies/latin-spies-more-lithium-at-new-brazilian-prospect-c-7895418.amp
This is the same region BMIX is all about too, correct?
Seeming like a lithium hotbed for sure.