Okay now, let's go back to thinking with some logic and some things that we know:
1. LBSR was in default to their creditors in May.
2. LBSR didn't get the full ZTEM results until May..just partial results from April.
3. The creditors wanted PAYMENT and tacked on late fees and penalties.
4.Once the full ZTEM results came from GeoTech, LBSR shared them with NAK/HD.
5. NAK/HD liked what they saw (who wouldn't?)
6. NAK/HD struck a letter of agremment with LBSR to pay off the creditors in full for $1,000,000.00 for the purchase of a little over 23 square miles of the Big Chunk Super Project staked lands, and then a little over a $3,000,000.00 convertible debt loan to pay off the rest of the debt.
7. The creditors (Same dirt-bags now suing) accepted full payment of the escrow account the monies were being held in, released the claims and land holdings).
7a. OMO was kind enough to point out the 6K NAK had filed which showed the land conveyance actually had occurred - meaning done deal on the agreement / JV was in progress.
8. During the news about the NAK/HD agreement, the stock price per share went from .002 to about .034 in about 4 or 5 trading days (not looking at chart just from memory)
9. as news continued to come out about the JV/Earn-In agreement to develop the rest of the Big Chunk Super Project held by LBSR, with an additional 10 million dollars over the course of 6 years injected by NAK/HD, NAK/HD wanted to work out an Earn-In agreement for a 60/40% JV with NAK/HD group holding the 60%
10. PPS continued to climb to .1919
11. Dirt Bag creditors decided to pull in their greasy lawyers and look at all papers again.
12. Dirt Bag greasy sleasy attorneys dug and dug and found a clause about share structure.
13. LBSR had inadvertently offered 76,400,000 shares to directors of the company in lieu of pay (no money was given to anyone for the past couple of years...well very little if any)
14. I am assuming that this was questioned and LBSR cancelled the share offering and negated this completely.
15. I am assuming that NAK/HD/LBSR concluded that the Directors deserved the options to buy shares in lieu of the pay they had not received.
16. The dirt bag creditors along with their greasy attorneys decided to take this to court.
17. Speculation has it that they might have done this to force down share price and may have actually been doing a forced shorting to gain super huge dollar advantage knowing the new was coming out in advance.
18. I am not an attorney, but the above kind of infers to me that any judge who would see the trail, well, unless there is something lurking under cover that we don't know about....this law-suit is frivolous and should be cleared up without too much damage.
19. We have suffered some emotional pain watching our accounts go back down by large percentages since the dirt-bags filed suit
I am not trading this stock, so I have not sold any shares. I guess I could really have capitalized on this drop...but, I am patient and I can wait for the outcome.
I thought I had gotten all the shares I wanted, but if we do go down more, I will THROW MORE POWDER at this.
DO YOU REALLY UNDERSTAND WHAT IS IN THE GROUND up there?
I mean literally if the 6-7 anomalies get us just 2 pebbles ???
For the Love of God - this WILL BE HUGE !!! and not just huge on this board, this will be HUGE news the WORLD over.
Good night,
S4
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