Gem - Any amendment to the original agreement (reported as a material event last summer) "triggers" an 8K as per SEC rules. The key is to understand "why" an 8K was not filed by Liberty. An increase in loan is increase in liability and becomes a material event. The clue is what could have happened between September 8th - November 6th (60 days window) that could have triggered a material event and how and when such a material event can be reported as per SEC rules. Liberty's quarterly filing period ended on October 31st.
In an amendment to the agreement dated September 8, 2011, the Group and Liberty Star agreed that should no definitive JV Agreement be signed within 60 days from date of said amendment the loan is to increase by US$546 (approximately $560) with effect from September 1, 2011, being the amounts expended by Northern Dynasty to date on annual assessment work, rental and related fees relating to Liberty Star’s claims in Alaska. As of the date of these Interim Financial Statements, no definitive JV Agreement has been signed. As a consequence, the loan receivable will be adjusted in the quarter ended December 31, 2011.
We didn't receive an 8K 4 business days from November 6th. :-) Think about the possibilities, it will be interesting.
There are many here posting with their own agenda - one of the reasons why I didn't want to go deeper inside NAK's 6K. Let them figure it out.
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