secwatch.observer — SEC 8-K summary
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Issuer:     FinTrade Sherpa, Inc. (FTSP)
CIK:        0001319643
Form:       8-K
Filed at:   2022-06-13T23:59:59+00:00
Accession:  0001199835-22-000363
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.02, 1.01, 2.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lode-Star rescinds Sapir asset purchase; reinstates $2.2M debt, converts $2.6M debt into 70.3M shares
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- Rescinded Sapir Pharmaceuticals asset purchase and royalty agreements on June 6, 2022; neither party has further obligations.
- Reinstated ~$2.224 million in accrued unpaid debt owed to Lode Star Gold (LSG) that was previously forgiven in January 2022.
- Converted $2,601,207.55 in debt from three related parties into 70,302,906 common shares at $0.037 per share.
- LSG received 62,769,918 shares; CEO Mark Walmesley received 6,372,405 shares for his debt; Lonnie Humphries got 1,160,583 shares.
- Rescission due to inability to develop EGCG business; no preferred stock had been issued under the original agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1319643/000119983522000363/0001199835-22-000363-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1319643/000119983522000363/lsmg-8k.htm
  HTML page:      https://secwatch.observer/filing/0001199835-22-000363

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