Liberty Star Uranium and Metals Corp (LBSR)

[floydborga]

Per LBSR latest 10Q

"Provided a minimum of $1,000,000 has been expended by Northern Dynasty on earn in expenses, the Loan will be convertible until repaid or deemed repaid, into common shares of our company at the 5 day volume weighted average trading price immediately prior to Northern Dynasty giving a notice of conversion less the maximum allowable discount applicable as if our company’s shares were listed on the TSX Venture Exchange."


So, the 88mil could have been repayment for the loan, but the PPS was never at 5 day volume weighted average conversion price of .038c, but this discount of "less the maximum allowable discount applicable as if our company’s shares were listed on the TSX Venture Exchange" could have brought per share conversion price down to .038 cents PS.