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The math does not add up.
PP money 132.000
claim fees - 20,000
total 112,000
in bank -35,000
total 77,000
What happen to the lost 77,000??
This is not about just claim fees.
Looks like there is a new PP deal out there now.
I guess if someone out there wants to help the company out they can.
It's their money they can spend it as they wish.
I will not do a PP that is for sure.
The last PP proved this is a SCAM!!!
None of that matters until he has money to drill.
Expenses have been coming in and JB knew to the dime what was needed to pay them. If no money in the bank, how was he going to pay the bills?
Had to do something.
A public NR was sent out money for drill in ground.
Yes you are correct. I still stand by that the PP money was always going to be spent on other things. JB had to know he was short on money, he knows what expenses were coming in, he had to get money somehow to pay the bills.
Reading the other board is funny. I'm told to believe that JB had no intent to use the PP money for other things except for drilling.
The claims had to be paid. If they did not have the PP money how would they pay for it with all the other costs???
Of course JB was pulling a scam on people when he put out a NR that stated that the PP money will be used for drilling. Nowhere in that statement did he say (like the answer he gave on the other board) that we can use that money for other things.
If you bought a PP because of that NR you were SCAMMED!!!
Ha Ha that's funny the truth change. Maybe Clinton can use that.
Here are the facts the way I see it.
There was a NR that stated the PP money will be used for drilling.
People bought into that statement.
Nowhere in that NR did it say that the truth could change.
I was talking about the PP people should be upset about the lie in the NR that the money would be used for drilling not to keep the doors open. Everyone understands the risk on a penny stock, but they should not understand being lied to.
He sold those claims to NAK to pay off the loan. They have other claims in AK.
The only thing that can save LBSR is something I been saying for years. Sell (if anyone wants them) any and or all claims except for HM!!!
JB start having the company pay some of the bills except the shareholders!
If LBSR keeps at this pace they will go broke or a reverse split. The PP people are going to dry up, who could trust JB now after he lied about using the money for drilling not for paying claim fees.
Question to the people who did a PP.
Do you feel you been lied too?
PP money NR stated the money will used for drilling and now you found out it was used for other things. Tracy did not say what that was, we always have to guess whats going on with this company.
my guess paid people to promote company you cannot argue the facts
Greed, like buying a lottery ticket, going to Vegas, pride in their decision, doubling down, all the issues of buying penny stocks.
Well it is their money they can spend however they want. Myself I would not do it.
Well it is there money. An old saying fool me once shame on you fool me twice shame on me.
Just read the 6/3 NR, than 10-Q, than the answer by Tracy from Wednesday on the company board saying no escrow account and how much money they have in bank on 7/31. If you don't want to that than read Ellis last 10 post or so. Check this out with an open mind the numbers and statements are all there.
Unless LBSR can pull a rabbit out of a hat, I just don't how they can keep the doors open. They took PP money that was to be used for drilling (as per what the NR stated).
From reading the company board many there felt that PP money was going in escrow account and that they were very close to get a drill in the ground. I just don't know how that is going to happen, JB is burning through the money faster than it is coming in.
All I know is if I did a PP thinking that money was for drilling only, I would be very piss off and would be on the phone to JB and have him explain why he spent it not on drilling.
I'm sorry to say I'm a long, however I'm not blind when things don't add up I have to tell it like it is in my eyes.
If you read what 10-Q says how much money was in the account as of 7/31 and how much more money received by what EC posted
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=125300872
And what Tracy posted that there was no escrow account thats all the money they had as 7/31.
Than if you read the NR of 6/3 that states the PP money will be used only for drilling which was $132,000 as of 7/31.
If you do the math
$132000
-$35,949
=$96051
Were did that money go???
It was to be used only for drilling per that NR.
The PR on 6/3/16 states that the PP money will be used to place the company's drill in the ground for phase 1 of the HM project.
If I did a PP and now seen that the PP money was used for other things I would feel cheated.
If that $130,000 PP money was used for other than drilling which that PR stated, I feel LBSR did something illegal.
So if I'm reading this right we had about $36,000 end of July and added about $60,000 in Aug. and Sept. that would add up $96,000 minus costs.
Not close to starting a drilling program.
Ellis
Your good knowing how things work.
Tracy stated that as of 7/31 LBSR had $35,900 in bank which included PP money.
Is there a way to find out if other monies came in like PP money BOD's money or any other money after 7/31.
In that statement by Tracy she said if LBSR gets around $150-$200,000 they could start a drilling program and they are sending work vehicles and other field equipment in anticipation of getting the money.
Not sure what you mean?
Just reading what Tracy wrote on the company board about a question that ask if there was an escrow account and the answer was no never has been. All the cash on hand is $35,900.
If you know something different please share.
Or don't you want to give up the ending of this movie?
No escrow account read other board you should have known better.
Answer on the other board about escrow account.
On the other board they believe that there is $132,000 in an escrow account and all they need is 6 more units to start drilling. If that was the case that LBSR was that close to start drilling, why can't JB or 1 of the BOD's come up with the 18 grand to get this started???
A good question was ask on the company board,(Is the PP money in an escrow account and in the last 10-Q it show there is about $35,000 in cash, does that include PP money?)
No response from company yet.
It's hard to afford it owning LBSR stock.
Ok thanks
So it has been delayed. How long do they have to report?
I wonder what the next plan for the scam going to be?
I think JB has a dart board with talking points around it.
Throw a dart and I hit: TALK ABOUT GOLD!
nother week another nothing from LBSR.
The only people he wants all in are the shareholders.
If I did a PP with LBSR, I would want to know if my money is set up in an account to be used just for drilling and not used for keeping the lights on. Plus, If they don't drill I get that money back.
Bet that didn't happen.
Like I said all along JB is a scam-man.
Has JB received the permits on his new scam yet?
Hey scam man JB are you drilling yet?
Hey scam man JB how those 10 mines coming along?
Fool me once shame on you, fool me twice shame on me.