Liberty Star Uranium and Metals Corp (LBSR)

[StrengthenNumbers]

Briscoe never intended to honor the warrants to Alpha


When LBSR secured the funds to pay off Alpha and Platinum, he most likely assumed they were paid and he was done with his obligation to them. A quick look at how many parties they are suing at any one time might make that viewpoint seem naive, but as I understand it, the warrants and the payoff were an either/or option in the contract, but they shook him (and us) down, knowing they had no real downside and he couldn't complete the JV with a lawsuit hanging like an anchor around his neck.

So they played a filthy trick and got their shares. He may have originally set the .10 price thinking it wouldn't matter once they were paid off. As far as the lower price for the recent options, I assume those are acquisitions for insiders or partners, and the price reflects a sweet deal offered as a favor, sort of like earnest holdings to seal a deal. JMO.

And if anyone has documentation showing the Alpha/Platinum debacle was different than described, feel free to correct me. I'd like to understand that situation better, as a lesson to reference in the future.