Applied Minerals Inc (fka AMNLQ)

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The charter of the special committee formed by the board of directors on January 11, 2008 has been extended to September 30, 2008.

On May 27, 2008, the Company sold 461,315 shares of Common Stock for $.50 per share to IBS Turnaround Fund, L.P. (a Limited Partnership) and 1,538,685 shares of Common Stock for $.50 per share to IBS Turnaround Fund (QP) (a Limited Partnership). The transactions were exempt from registration under Section 4(2) of the Securities Act of 1933.

The above is from the Atlas Mining Company SEC Form K filed 7/3/2008. It was signed by the new CEO Michael Lyon. I find it a hell of a note that he starts out with an error in his first filing. The sell of the 2,000,000 shares took place on June 27 as reported by Mr. Taft, not on May 27.