Each one in plain English, with the numbers worked through for a shareholder.
24 Jan 2020capital raising announcement● NeutralMajor
On January 20, 2020 the company bought four hemp and CBD supply, manufacturing and sales contracts from Hemp Cloud 9 LLC in exchange for 4,700,000 new shares. The accompanying press release says the company will change its primary business from minerals to cannabinoids and plans to change its name and stock symbol within 30 days. This is a major break from the lithium and mineral claims story, and the share issue dilutes existing holders. The filing does not say what happens to the earlier mineral claims or options.
3 July 2019capital raising announcement● NeutralMajor
On June 28, 2019 unnamed debt holders agreed to convert $406,357.02 of principal and interest into 2,083,884 new shares at $0.195 per share. This clears that debt but dilutes existing shareholders. The filing does not name the holders or say which notes were converted, only that the debt was reported in the March 31, 2019 quarterly report. The $0.195 price is far above the earlier $0.015 to $0.03 conversion prices. The filing does not say why (possible inference: a share consolidation in the gap). The company's address is now Seal Beach, California.
On July 31, 2017 the company extended the maturity of seven notes held by Robert Seeley and Catanga by six months each, and cut the conversion price on all of them to $0.015 per share. A lower conversion price means more shares if the notes are converted, which dilutes existing holders. Separately, Seeley converted his April 8 and April 21, 2016 notes (principal $15,000 plus accrued interest) into 1,280,827 new shares. This resolves those two notes and dilutes other holders. The table also lists a $50,000 Seeley note (May 5, 2016), a $8,000 Seeley note (March 3, 2017) and a $25,000 Catanga note (May 23, 2017) that were not in earlier filings. It shows the June 2017 Catanga note maturing June 15, 2018, whereas the June 2017 filing said January 15, 2018.
1 Mar 2017capital raising announcement● NeutralMajor
U.S. Lithium obtained an option from Diamond Hunter Ltd. to buy 100% of the Gochagar Lake nickel-copper-cobalt claims (four claims, 3,759 hectares, northern Saskatchewan), issuing 8,000,000 shares for the option. To complete, it must spend at least US$50,000 by June 1, 2017 and US$225,000 by July 12, 2018, and the seller keeps a 2% royalty, with a US$1,250,000 right to buy back 1%. The share issue dilutes existing holders.
The April 2016 letter of intent with Rangefront turned into a signed agreement on April 25, 2016: an option on four Esmerelda County, Nevada claims. The company issued 200,000 restricted shares to Rangefront's representative, which resolves the earlier letter of intent.
Rostock sold 714,286 restricted shares at $0.07 per share to Enavest Internacional S.A. for $50,000, with the full amount received by June 6, 2011. This adds shares to the total outstanding, diluting existing holders.
