M&A - Lode-Star Mining Inc.
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.
Document Link: View Document
Additional details:
Item Name: asset_purchase_agreement_date
Item Value: 2025-02-12
Item Name: total_shares_issued
Item Value: 227000000
Item Name: license_fee
Item Value: 440000
Item Name: monthly_license_fee_payment
Item Value: 5000
Item Name: debt_converted
Item Value: 169644.71
Item Name: shares_issued_for_debt_conversion
Item Value: 1357158
Item Name: expected_product_name
Item Value: FinTradeSherpa
Item Name: development_stage
Item Value: alpha
Item Name: expected_development_costs
Item Value: 245000 to 425000
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