Replies to post #1136 on First Liberty Power (fka FLPC)

[nupapa]

TradeforCash:

IMO it has to do with this from the last 10Q. Note the deadlines in Red. Makes me think they dumped some shares to pay some bills, and perhaps some of the shares they issued were dumped into the market. On the positive side -- those are annual events. So if they get producing and making revenue, I would think any share issuance would be minimal, and possibly unnecessary at the end of 2013.

NP


10Q: http://www.sec.gov/Archives/edgar/data/1415305/000152477712000492/form10q.htm

Under the new Lithium Agreement, the Company is required to:
Make Cash Payments - First Liberty shall pay GeoXplor in consideration of the grant of the exploration license and other rights granted under this Agreement a total of $725,000, according to the following schedule:

(1) Twenty-Five Thousand Dollars ($25,000.00) within 5 days of the execution of this agreement, which amount was paid during the year ended July 31, 2012;

(2) One-hundred Thousand Dollars ($100,000) to GeoXplor on or before December 31, 2012;

(3) Two-hundred Thousand Dollars ($200,000) to GeoXplor on or before December 31, 2013;

(4) Two-hundred Thousand Dollars ($200,000) to GeoXplor on or before December 31, 2014;

(5) Two-hundred Thousand Dollars ($200,000) to GeoXplor on or before December 31, 2015;

Stock Issuance – As additional consideration, the Purchase Price shall include the issuance of 2,000,000 Shares, subject to such conditions as may be imposed by the rules and regulations of the United States Securities and Exchange Commission, as follows:

(1)Five-hundred Thousand (500,000) Shares to GeoXplor on or before December 31, 2012;

(2)Five-hundred Thousand (500,000) Shares to GeoXplor on or before December 31, 2013;

(3)Five-hundred Thousand (500,000) Shares to GeoXplor on or before December 31, 2014;

(4)Five-hundred Thousand (500,000) Shares to GeoXplor on or before December 31, 2015;

Work Commitment – First Liberty shall expend not less than One Million Five-Hundred Thousand Dollars ($1,500,000) in Mineral Exploration and Development Testing ("Work"). The Work shall be scheduled according to the following schedule:

(1) One Hundred Thousand Dollars ($100,000.00) on or before November 15, 2012, which amount remains outstanding as of the date of this filing;

(2 )Four-hundred Thousand Dollars ($400,000) on or before December 31, 2012;
(3) Five-hundred Thousand Dollars ($500,000) on or before December 31, 2013;

(4) Five-hundred Thousand Dollars ($500,000) on or before December 31, 2014;

As of date of this report, the Company has expended approximately $80,000 towards the required work program.