Li Sze Tang (Albert) 4
4 · FORMATION MINERALS, INC. · Filed Oct 8, 2024
Insider Transaction Report
Form 4
Li Sze Tang (Albert)
10% Owner
Transactions
- Award
Common Stock
2024-10-04$0.04/sh+2,501,250$100,050→ 29,385,250 total
Holdings
- 500,000(indirect: Affluence Asset Holdings PTE. Ltd.)
Common Stock
Footnotes (2)
- [F1]SensaSure Technologies Inc., now known as Formation Minerals, Inc., a Nevada corporation (the "Issuer") previously received certain loans and advances from the Reporting Person in the amount of $100,050. Pursuant to that certain Conversion and Subscription Agreement (the " Conversion Agreement"), dated as of October 4, 2024, by and between the Reporting Person and the Issuer, the Issuer and the Reporting Person agreed to convert such indebtedness into shares of common stock, par value $0.01 per share ("Common Stock") of the Issuer. The Reporting Person received 2,501,250 shares of Common Stock, at a conversion price of $0.04, pursuant to the Conversion Agreement.
- [F2]The Reporting Person serves as the sole director, officer and beneficial owner of Affluence Asset Holdings PTE. Ltd. ("Affluence") and, accordingly, the Reporting Person may also be deemed to beneficially own the shares of Common Stock held directly by Affluence. The Reporting Person disclaims beneficial ownership of the shares of Common Stock held directly by Affluence except to the extent of the Reporting Person's pecuniary interest therein.