Replies to post #1731 on Liberty Energy Corp. (LBYE)

[SmallCapValueInvestor]

At first I had feeling similar to yours, but after further reading I realized that they are still in the works with Petro Fund. Once they get more funds from Petro to eliminate debt and fund future acquisitions financials will be awesome. People love getting into future mergers and acquisitions plays early, so give it some time for these early M&A buyers to search through the SEC database and find LBYE and watch people load up and tuck their shares away until LBYE becomes seriously profitable.

JMO

On April 11, 2013, the Company entered into a stock purchase agreement with Petro Fund 1 (“PF1”),a Houston, Texas-based upstream oil and gas fund, pursuant to which the investor agreed to advance up to $3,650,000 to the Company in multiple installments in exchange for units of the Company at unit price. The unit price means a price equal to the higher of either $ 0.05, or 95% of the volume-weighted average of the closing price of common stock, for the 10 days immediately preceding the date of receipt of notice from the Company for the advance of funds from the investor. Each unit shall consist of one share (restricted) of the common stock of the Company. The Company shall use up to $150,000 of Advances to extinguish existing debts, fund operating expenses, working capital and general corporate activities. Subject to the foregoing, the Company may use any balance of the Advances up to$3,500,000 to fund mergers and acquisitions (including related legal and, accounting expenses) or the purchase of capital assets, with any such Advances to be approved by PF1. No funding was received as of the quarter ending April 30, 2013.


http://www.sec.gov/Archives/edgar/data/1372336/000146970913000387/lbye10q_043013apg.htm

[TH_Stockhunter]

10Q is everything we wanted...

1) Last Asher note was paid off as promised:

The convertible note, issued on November 19, 2012, is due on August 21, 2013 at an interest rate of 8% per annum. The Company paid the debt in full in May 2013 before the completion of 180 days from the date of funding.

2) The shares received by Petro Fund shares were issued at around .078 per share - they are gonna want a lot more value for those shares.

Per the April 11, 2013 agreement with Petro Fund 1 (See Note 8.), the Company agreed to issue Petro Fund 1, 548,921 shares of common stock for $43,000 cash on May 23, 2013. The Company received the cash on May 24, 2013, but had not issued those shares as of June 14, 2013.