Lithium Exploration Group Inc. (fka LEXG)

[alexbh2285]

The letter is a joke for the following reasons:

1) His plan is to fund each subsidiary and thereby improve the LEXG balance sheet. The only way LEXG (and the assets that would make up the proposed subsidiaries) raises funds is by issuing death spiral converts on LEXG stock. There will be no way for the subsidiaries to fund raise without retail investors buying the stock (of subsidiaries?) from convertible investors at double the price.

2) The Korean patent inventor and his company have such an extensive valuable network in Chinese manufacturing and technology development but they are unable to get commercialization funding from anyone in this network and have to turn to a company with no skills, no assets, 2 employees and funding rates at 117%+ in order to commercialize? BS.

3) They are close to completing the fund raise for White Top? WHAT??? I thought that money was raised. First they said (not including LEXG's investment) that they had $14MM and then they lowered it to $5MM and now it appears to be "hope to finalize an investor soon" as the dollar amount is TOO SMALL to cobble together the amount? That makes no sense.

4) SonCav Oil was completed in the spring and they are still "making efforts to connect with potential customers" to put in the field next year? Also, it's never good when a company says they are an unproven technology's "biggest cheerleaders."