Detailed Research On Liberty Star Uranium & Metals Corp. (LBSR) & XOMA Limited (XOMAD)

XOMA Limited (XOMAD) (New)
– surged from high $2s to $3.50ish retracing back to $3.30 area. But Stock did nothing when they received compliance with Nasdaq on Sep 2https://finance.yahoo.com/news/XOMA-Regains-NASDAQ-pz-4187773499.html?x=0&.v=1
– Aug 17: 1-for-15 reverse stock split became effective with the opening of trading on August 18 https://biz.yahoo.com/e/100818/xomad8-k.html
– SEC June 30, 2010 10-Q: https://www.edgar-online.com/bin/cobrand/?doc=A-791908-0001193125-10-183354&nav=1&src=Yahoo
*shares outstanding 261,247,750
*Net loss: 2010Q2 $(15,580,000) Vs. 2009Q2 $(10,210,000); Accumulated deficit $(821,919,000); Long Term Debt $13,505,000
*As announced in the third quarter of 2009, we have entered into an At Market Issuance Sales Agreement, with Wm Smith & Co. (“Wm Smith”), under which we may sell up to 25 million of our common shares from time to time through Wm Smith, as the agent for the offer and sale of the common shares. Wm Smith may sell these common shares by any method permitted by law deemed to be an “at the market” offering as defined in Rule 415 of the Securities Act of 1933, including but not limited to sales made directly on The NASDAQ Global Market, on any other existing trading market for the common shares or to or through a market maker. Wm Smith may also sell the common shares in privately negotiated transactions, subject to our approval. From the inception of this agreement through June 30, 2010, we sold a total of 12,990,842 common shares through Wm Smith for aggregate gross proceeds of $9.3 million. From July 1, 2010 through August 9, 2010, 3,691,137 additional common shares were sold through Wm Smith for aggregate gross proceeds of $1.3 million.
*In addition, in February of 2010, we completed an underwritten offering of 42 million units, with each unit consisting of one of our common shares and a warrant to purchase 0.45 of a common share, for gross proceeds of approximately $21 million, before deducting underwriting discounts and commissions and estimated offering expenses of $1.7 million. The investors purchased the units at a price of $0.50 per unit. The warrants, which represent the right to acquire an aggregate of up to 18.9 million common shares, are exercisable beginning six months and one day after issuance and have a five-year term and an exercise price of $0.70 per share.
*On July 23, 2010, we entered into a common share purchase agreement with Azimuth Opportunity, Ltd. (“Azimuth”), pursuant to which we obtained a committed equity line of credit facility under which we could sell up to $30 million of our registered common shares to Azimuth over a 12-month period, subject to certain conditions and limitations. In August of 2010, we sold a total of 51,321,110 common shares under this facility for aggregate proceeds of $14.2 million, representing the maximum number of shares that could be sold under this facility.
*On September 21, 2009, we received a letter from NASDAQ indicating that for the 30 consecutive business days preceding September 15, 2009, the bid price of our common shares closed below the minimum $1.00 per share requirement pursuant to NASDAQ Listing Rule 5450(a)(1) for continued inclusion on The NASDAQ Global Market. In accordance with NASDAQ Listing Rule 5810(c)(3)(A), we had a period of 180 calendar days, or until March 15, 2010, to regain compliance with the minimum bid price requirement.
*In March of 2010, we received a Staff Determination letter from The NASDAQ Stock Market LLC (“NASDAQ”) indicating that we have not regained compliance with the minimum $1.00 per share requirement. On June 15, 2010, the Panel granted our request for an extension of time. In accordance with the Panel’s decision, on or before September 13, 2010, we must evidence a closing bid price of $1.00.
*Because all of our product candidates are still being developed, we have sustained losses in the past and we expect to sustain losses in the future.
*We may issue additional equity securities and thereby materially and adversely affect the price of our common shares.
*If the trading price of our common shares fails to comply with the continued listing requirements of The NASDAQ Global Market, we would face possible delisting, which would result in a limited public market for our common shares and make obtaining future debt or equity financing more difficult for us.
*The financial terms of future collaborative or licensing arrangements could result in dilution of our share value.
*Our therapeutic product candidates have not received regulatory approval. If these product candidates do not receive regulatory approval, neither our third party collaborators nor we will be able to manufacture and market them.
*Even once approved, a product may be subject to additional testing or significant marketing restrictions, its approval may be withdrawn or it may be voluntarily taken off the market.
*We face uncertain results of clinical trials of our potential products.
*Certain of our technologies are relatively new and are in-licensed from third parties, so our capabilities using them are unproven and subject to additional risks.
*Products and technologies of other companies may render some or all of our products and product candidates noncompetitive or obsolete.
**etc…

COOLBRANDS INTL INC (CULBF.PK) (Updated)
– hanging above its former high at $2.81/share
– Aug. 20: volume is increasing and now really getting excited, already up from 1.75 to 2.25ish on acquisition news
– Aug. 18: CoolBrands International Inc. Announces Agreement to Merge with Swisher International, Inc. https://www.businesswire.com/news/home/20100818005395/en/CoolBrands-International-Announces-Agreement-Merge-Swisher-International
*Huizenga is well known in reverse merger circles, having taken Allied Waste Industries, Waste Management, Blockbuster Inc.  and AutoNation Inc. public using the public offering alternative.
*the deal is expected to close by November 30, 2010
*Swisher posted a $2.1 million loss in 2009 on revenues of $56.8 million.
*Outstanding common shares of Swisher will be exchanged for 57,789,630 CoolBrands common shares of which 55,789,630 will be subject to lock-up agreements whereby such shares cannot be sold or transferred for the period ending upon the earlier of (i) the public release of combined company’s earnings for fiscal year 2011 or (ii) March 31, 2012 (subject to certain exceptions).
*If CoolBrands call the deal off, Swisher will collect a $1.2 million termination fee.
*CoolBrands is acing as a shell company. CoolBrands a TSX-listed company that was focused on marketing and selling a broad range of ice creams, frozen snacks and fresh yogurt products under national and international brand names. Starting in late 2005, CoolBrands sold its operating businesses and currently is looking to profit from its financial holdings by searching out, investigating and investing in enterprises that are expected to provide long-term positive return for its shareholders
*Swisher is in the laundry and cleaning chemicals business, which of course has no relationship with frozen desserts (unless you drop one of ’em on the floor and have to clean it off)
– TheStreet article about this deal, some background about merger deals: https://us.rd.yahoo.com/finance/external/tsmfe/SIG=131u3c3mv/*http%3A//www.thestreet.com/_yahoo/story/10846614/1/investors-beware–reverse-mergers-stink.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

Liberty Star Uranium & Metals Corp. (LBSR) (Updated)
– last trading session bounce continues and still holding it’s bounce-gain firm, consolidating at 15-16 cents share till the close of the market after a free fall when  Warrant Holders sued them https://finance.yahoo.com/news/Liberty-Star-Sued-by-Warrant-bw-3432246140.html?x=0&.v=1
*The Plaintiffs are seeking to require the Company to honor outstanding warrants held by the Plaintiffs at an exercise price of $0.002 (two tenths of one cent) per share and to issue to the Plaintiffs ten times the number of warrants that the Company has on record, or in the alternative money damages.
*The Plaintiffs are claiming that Platinum is entitled to 201,053,015 warrants and that Alpha is entitled to 240,919,010 warrants all exercisable at $0.002 per share. If the Plaintiffs are successful in their lawsuit, a total of 589,177,000 warrants would be outstanding at an exercise price of $0.002 to all warrant holders who are former lenders to our company.
– up from 2 cent to 18 cents/share in 2 months.
– spam/mail/messageboard pump, promotion is running on
– SEC 11-Aug-2010 8-K: https://biz.yahoo.com/e/100811/lbsr.ob8-k.html
*On August 10, 2010, we granted stock options to certain of our directors, officers and employees of our company to purchase an aggregate of 95,500,000 shares of our common stock at an exercise price of $0.038 per share for a term expiring on August 10, 2015.
*On April 23, 2010, we purported to issue 76,400,000 shares to certain of our directors, officers and employees for compensation. These shares were reported issued in error and have been cancelled, returned to treasury and were void ab initio.
– SEC 8-Jul-2010 8-K: https://biz.yahoo.com/e/100708/lbsre.ob8-k.html
*with this filing they will pay out all of its convertible notes but changed the conditions of payment.
*The Company has sold 60.7 square kilometers in consideration for both a $1,000,000  cash payment and a convertible loan from Northern Dynasty in the amount of $3,000,000.
*$3,000,000 Loan is secured by their subsidiary (Big Chunk and Bonanza Hills properties in Alaska) and is convertible into shares of common stock.
– SEC 4-Jun-2010 8-k https://biz.yahoo.com/e/100604/lbsr.ob8-k.html
*on June 1, the notes were defaulted
– SEC 13-Jul-2010 10-Q: https://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7357422-1076-125861&type=sect&dcn=0001062993-10-002289
*Net loss of $(397,948); cash equivalents $22,130; Total assets $181,074; Total liabilities $3,520,531;  Deficit accumulated $(28,302,331); negative working capital of $(3,452,591);
*433,427,556 and 247,656,979 shares issued and outstanding => (185Mill. shares issued since Jan 31, 2010 => Issuance of common stock for conversion or payment of promissory note: 109M and Issuance of common stock for services: 76M)
*As of April 30, 2010, there were 60,694,623 whole share purchase warrants outstanding and exercisable. The warrants have a weighted average remaining life of 5.2 years and a weighted average exercise price of $0.03 per whole warrant for one common share.
*At April 30, 2010 there were 61,774,498  potentially dilutive instruments outstanding. Additionally if settlement of the Convertible Promissory Notes were completed by the issuance of common shares there would be 1,949,625,853 required to convert the notes which is in excess of our authorized shares.

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