M&A - Lode-Star Mining Inc.

Form Type: 10-Q

Filing Date: 2025-05-14

Corporate Action: Acquisition

Type: Update

Accession Number: 000119983525000144

Filing Summary: On February 14, 2025, FinTrade Sherpa, Inc. entered into an Asset Purchase Agreement to acquire intellectual property from a third-party. The deal involves the issuance of 227,000,000 common shares, although as of March 31, 2025, the transaction has not closed and no shares have been issued. The agreement also includes a License Agreement for AI technology with a total fee of $440,000, payable in installments, which grants the company a perpetual license upon final payment. Additionally, a Software Development Agreement was established for $123,000 to develop software on behalf of the company. The company's total assets are reported at $800, with a working capital deficiency of $(151,969) and an accumulated deficit of $(4,558,427) as of March 31, 2025. The company's financial statements indicate a net loss of $153,112 for the quarter ended March 31, 2025, a significant increase compared to prior periods.

Form Type: 8-K

Filing Date: 2025-02-14

Corporate Action: Acquisition

Type: New

Accession Number: 000119983525000044

Filing Summary: On February 12, 2025, Lode-Star Mining Inc. entered into an Asset Purchase Agreement with Tarka L’Herpiniere to purchase certain intellectual property and rights related to AI-driven software technology. As part of the agreement, the company agreed to issue 227,000,000 shares of common stock in exchange for these rights. The closing of this transaction occurred on February 14, 2025. To further develop the acquired assets, the company plans to leverage the purchased technology to enhance a FinTech product named 'FinTradeSherpa.' In connection with the transaction, the company signed a License Agreement with Predictive Technology, LLC for exclusive use of certain AI technologies. Additionally, Lode-Star Mining Inc. entered into agreements for software development and established terms regarding shares issued in the form of a Lock-Up and Leak-Out Agreement to control stock sales for a specific duration. A Debt Conversion Agreement was also executed to settle debts through conversion into company stocks. An Indemnification Agreement was made to protect the company's director against legal proceedings related to his service. Overall, these transactions mark a strategic pivot from mining to technology development, focusing on a comprehensive AI-powered financial analytics platform.